The stones market has shown strong growth, rising from $12.72 billion in 2023 to $13.66 billion in 2024, with a CAGR of 7.4%. This growth is driven by increased construction activity, urbanization, infrastructure development, landscaping projects, and historical restoration. Projections indicate that the market will grow to $17.78 billion by 2028, with a CAGR of 6.8%. Future growth is supported by smart city initiatives, energy-efficient quarrying, prefabricated construction trends, cultural and religious projects, and circular economy practices. Key trends include digital transformation, sustainable quarrying, innovations in stone finishes, smart stone applications, and online marketplaces.
Major Driver In The Stones Market
The stones market is set to experience growth due to the increasing construction activities worldwide. Stones, serving as primary building materials for foundations, walls, and pavements, contribute to structural integrity and durability in construction. According to reports by Oxford Economics in September 2021, global construction output was $10.7 trillion in 2020, projected to increase by 42% or $4.5 trillion between 2020 and 2030, reaching USD 15.2 trillion. This surge in construction activities globally is a key factor driving the growth of the stones market throughout the forecast period from 2023 to 2028.
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Stones Market Competitive Landscape
Berkshire Hathaway Inc., Christian Dior SE, Rajesh Exports Limited, Kering SA, Compagnie Financière Richemont SA, Temmer Marble, Tiffany & Co., Guanghui Group Co. Ltd., Quartzforms, Swatch Group Ltd., Pandora A/S, Cosentino S.A., Caesarstone Ltd., James Avery Craftsman Inc., Brenton S.p.A., Etgran Group, Polycor Inc., MARGRAF SpA, Xishi Group, Aurangzeb Marble Industry, Jinbo Construction Group Co. Ltd., ARO Granite Industries Ltd., Dimpomar - Granitos de Portugal S.A., Dermitzakis Bros S.A., Levantina Asociados de Minerales S.A., Mumal Marble Company, Johnson Marble & Quartz, Technistone a.s., Stone Italiana S.p.A., VICOSTONE
Key Stones Market Trend
Major companies operating in the stones market are focused on developing innovative products, such as electrically driven wheeled crushers to gain a competitive edge in the market. Electrically driven wheeled stone crusher is a machines used to crush rocks and stones, powered by electricity, for various construction and mining purposes. For instance, in March 2022, Sandvik AB, a Sweden-based engineering company, launched a new wheeled mobile crushing and screening range in North America. This offering is all electrically driven, providing a sustainable rock processing solution. The Sandvik wheeled range is electrically driven, providing a sustainable rock processing solution. Powered by electricity, Sandvik wheeled crushers offer a low operational cost per ton, reduce CO2 emissions, and help create a sustainable future.
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Stones Market Segmentation
The stones market covered in this report is segmented –
1) By Type: Dimension Stones, Crushed Stones
2) By Organization Size: Large Enterprises, Small And Medium Enterprises
3) By Service Provider Type: Independent Contractors, Companies
By Geography:The regions covered in the stones market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.
Asia-Pacific was the largest region in the stones market in 2023.
The Stones Global Market Report 2024 furnishes information about the global stones market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
