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The cone crusher market size is forecast to increase by USD 909.94 million, at a CAGR of 5.5% between 2023 and 2028. The growth rate of the market depends on several factors such as the use of artificial sand for construction work, rising demand for housing projects globally and rising demand for on-mobile cone crushers. Our market report examines historical data from 2018-2022, besides analyzing the current and forecasted market scenario.
The cone crusher market in APAC exhibited a notably greater demand for cone crusher machines compared to the combined markets of MEA, South America, and North America. This surge in demand can be attributed to the multitude of infrastructure projects in the APAC region, sustaining a high need for construction equipment. The prevalent market dynamics have created a conducive environment for the crushing equipment sector, primarily due to the substantial requirement for sand and gravel in these projects. In the realm of cone crushers, Astec Industries Inc presents a comprehensive range, including Kodiak cone crushers, Titan cone crushers, and Portable cone plants. Similarly, McCloskey International Ltd. enriches the market with its offerings like C2C, C3, C3R, and C4 cone crushers.
Market Forecast 2024-2028
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Our researchers studied the market research and growth data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market.
Construction and infrastructure projects make use of river sand. River sand adds strength, bulk, and adhesive properties to construction materials like cement, brick, asphalt, and concrete. It is also used in landscaping projects. However, since 2010, several regional governments and countries, including Cambodia and India, have prohibited the export of river sand. Sand mining causes erosion of river banks, which has a negative impact on biodiversity. Furthermore, river sand is depleting rapidly due to extensive mining. In addition, most infrastructure and construction projects are located away from riverbanks.
Further, the use of natural river sand is expected to be banned in most countries in the near future, which will have a positive impact on the use of artificial sand. Government regulations, rising prices, and limited availability of natural sand drive the demand for artificial sand by construction project owners. The number of construction projects is expected to increase, which will drive the demand for artificial sand during the forecast period. Such factors will drive the growth of the market during the forecast period.
Cone-crushing equipment produces more hydrocarbons (HC), nitrogen oxides (NOx), carbon monoxide (CO), and particulate matter (PM) than highway vehicles. The emission of such harmful pollutants by construction equipment has compelled pollution control boards and environmental bodies in various countries to develop stringent emissions standards for construction equipment. The United States and the European Union have the most stringent rules for construction equipment, and they intend to implement additional rules to help reduce emissions. The aim of adhering to these emission standards in developing nations is to make construction equipment emissions obsolete.
Moreover, with changing emission guidelines and the increased popularity of greener and cleaner equipment, manufacturers are innovating solutions to reduce the consumption of fuel and finding alternatives to diesel for operating the crushing equipment. Some manufacturers are developing new engines that run on hybrid drive systems (hybrid-electric systems), propane fuel, and hydrogen as alternatives to diesel. These fuels are not only environmentally friendly but also cost-effective. Thus, the increasing demand for less carbon emission equipment will drive the growth of the market during the forecast period.
The cone-crushing process, essential for various industries, brings environmental concerns, notably dust generation. Airborne dust from cone crushers, a byproduct of rock or mineral crushing, poses respiratory risks for workers and compromises air quality nearby. Dust suppression measures like water spraying and enclosure systems are common but may not entirely solve the issue. Moreover, raw material extraction for cone crushing contributes to habitat destruction, deforestation, and soil erosion, particularly in mining operations. Energy consumption, especially in regions relying on nonrenewable sources, adds to greenhouse gas emissions.
However, companies investing in eco-friendly practices could gain a competitive edge, but initial costs may deter some. Public awareness and concern for environmental issues may influence purchasing decisions, favouring responsible equipment and processes. Cone crusher stakeholders must invest in green technologies to ensure sustainable market growth, facing potential regulatory scrutiny and constraints without such measures. This environmental challenge is anticipated to impede mining activities, hindering market growth during the forecast period.
The diesel segment is estimated to witness significant growth during the forecast period. A diesel-powered cone crusher uses a diesel engine to power its hydraulic system. The diesel engine provides the power required to operate both the crusher and the hydraulic systems that control the equipment's functions. This type of cone crusher is especially useful in remote areas where access to electricity is limited or unreliable.
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The diesel segment was the largest and was valued at USD 1,301.23 million in 2018. Diesel-powered cone crushers offer enhanced versatility and mobility, facilitating easy transportation to various job sites. Their revenue advantage over electric and hybrid counterparts is driven by preferences in off-grid or remote areas, where establishing a reliable electric power source is challenging. Diesel engines, with superior torque and suitability for heavy-duty applications, contribute to increased efficiency and productivity. Key vendors producing diesel-powered cone crushers include Terex Corp., Metso, and McCloskey International, each offering solutions tailored to mining, construction, and diverse industry needs. The choice between diesel, electric, or hybrid-powered cone crushers depends on operational requirements, power source accessibility, and environmental considerations. With their higher reliability, diesel-powered cone crushers are poised to drive market growth during the forecast period.
Based on the application, the market has been segmented into mining, construction, and recycling. The mining?segment will account for the largest share of this segment.? Cone crushers play an important role in the mining industry, crushing hard materials efficiently and reliably. Primary crushing involves reducing large ore or rock chunks in the initial stages, while secondary crushing prepares the material for further processing. Tertiary and quaternary stages refine particles for efficient downstream processes. Notable vendors like Metso Outotec, Sandvik AB, and Thyssenkrupp offer mining-specific cone crushers, emphasizing efficiency and reliability. The mining sector's growth, driven by global demand for metals and minerals, expanding operations into challenging locations, and technological advancements in cone crusher technology, contributes significantly to the market. Increasing steel production, particularly in China, reinforces the demand for efficient mining solutions, positioning cone crushers as vital components for productivity and profitability in the mining sector. These trends underscore the growth potential of the segment during the forecast period.
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APAC is estimated to contribute 36% to the growth by 2028. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. Between 2020 and 2022, substantial infrastructure projects in China and India, as well as plans by South-East Asian nations like Indonesia and the Philippines, are set to drive the demand for construction equipment. India, with numerous public-private partnership (PPP) projects, aims to invest heavily in smart cities and the power sector, attracting significant foreign investment. Infrastructure and township projects, fueled by population growth and rising incomes, will be key drivers for crushing equipment in India.
Meanwhile, China's government initiatives and tax relaxations on infrastructure investments are fostering construction activities, particularly in residential building construction, driven by urbanization and increased income levels. The resulting demand for housing will significantly boost the market in both India and China, making these regions key contributors to the global growth of cone crushers during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Minyu Machinery Corp - The company offers Cone Crusher such as MSP series, HN series, and MCC series.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including Astec Industries Inc, FLSmidth and Co. AS, Henan Liming Heavy Industry Science and Technology Co.,Ltd., Jiaozuo Zhongxin Heavy Industrial Machinery Co.,Ltd., McCloskey International Ltd., Metso Outotec Corp., Minyu Machinery Corp., PICSON Construction Equipments Pvt. Ltd., Puzzolana Machinery Fabricators LLP, Sandvik AB, Shenyang Northern Metso Heavy Industry Machinery Co., Ltd, Shibang Industry and Technology Group Co. Ltd., Shree Conmix Engineers Pvt. Ltd., Terex Corp., Tesab Engineering Ltd., The Weir Group Plc, thyssenkrupp AG, Westpro Machinery Inc., WIRTGEN INTERNATIONAL GmbH, and PROPEL INDUSTRIES.
Technavio market forecast the an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market analysis and report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
The global cone crusher market is driven by the increasing demand for crushing and grinding solutions in various industries. Cone crushers are crucial for tasks like demolition, crushing coarse materials, and tertiary crushing. They are used in stationary equipment as well as in mobile and portable crushers, offering energy-efficient solutions. Thermo Fisher and Metso are key players, with Metso's new Lokotrack LT4MX mobile cone crusher featuring hydraulic hold-down clamping for enhanced efficiency.
The Nordberg HP900 series cone crusher boasts a high capacity and advanced lubrication system, ideal for mining industries. In the construction segment, cone crushers are essential for processing hard, abrasive materials like granite, contributing to infrastructure development such as pavement-quality concrete roads. The market is poised for growth, particularly in developing nations where urbanization drives demand for better infrastructure.
Cone Crusher Market Scope |
|
Report Coverage |
Details |
Page number |
157 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.5% |
Market Growth 2024-2028 |
USD 909.94 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.5 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 36% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Astec Industries Inc, FLSmidth and Co. AS, Henan Liming Heavy Industry Science and Technology Co.,Ltd., Jiaozuo Zhongxin Heavy Industrial Machinery Co.,Ltd., McCloskey International Ltd., Metso Outotec Corp., Minyu Machinery Corp., PICSON Construction Equipments Pvt. Ltd., Puzzolana Machinery Fabricators LLP, Sandvik AB, Shenyang Northern Metso Heavy Industry Machinery Co., Ltd, Shibang Industry and Technology Group Co. Ltd., Shree Conmix Engineers Pvt. Ltd., Terex Corp., Tesab Engineering Ltd., The Weir Group Plc, thyssenkrupp AG, Westpro Machinery Inc., WIRTGEN INTERNATIONAL GmbH, and PROPEL INDUSTRIES |
Market dynamics |
Parent market growth analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Source
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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