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| Cone Crusher Market |
The cone crusher market is estimated to be valued at US$ 1811.13 Mn in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cone crushers are machines used for crushing rocks into smaller sizes. These
crushers are suitable for jobs involving reduction and sizing. They use
compressive forces for breaking material which gets reduced in size as it
passes through the chamber of the crusher. The crushing is done between an
eccentrically gyrating spindle which has a conical head mounted on it and the
concave-shaped bowl-liner. These crushers find widespread applications in
construction, mining and metallurgy industries primarily for reducing sizes of
crushed rocks and ore.
Market Dynamics:
The rapid industrialization and infrastructural development activities across
the globe especially in developing economies have led to a significant rise in
demand for crushed stones. The construction industry alone accounts for around
12% of the global GDP and around 60-70% of crushed stones produced worldwide
are consumed by this industry. The ongoing investments in road construction,
railway lines projects, dams, bridges and other infrastructure development
coupled with increasing urbanization are fueling the demand for cone crushers
for crushing aggregates. Additionally, steadily growing mining and
metallurgical activities for production of metals like iron, aluminum and base
metals is also driving the cone crusher sales. Furthermore, continuous
technological advancements in cone crusher designs for achieving higher
crushing capacities, fuel efficiency and automation are further aiding their
growing adoption rate. However, high initial investment costs associated with
these machines remains a key challenge.
SWOT Analysis
Strength: Cone crushers have high reduction ratios that allows for the creation
of cubical products. They require fewer processes than alternate crushers
resulting in lower operational costs. Their simplistic design leads to less
maintenance problems and downtime.
Weakness: Cone crushers are prone to clogging and require frequent cleaning.
The limited range of the adjustable discharge opening means operators must
frequently adjust settings.
Opportunity: Increasing infrastructure development projects across developing
nations is driving demand for cone crushers from the construction industry. The
need for efficient waste management solutions is opening new areas of
application in recycling plants.
Threats: Fluctuating raw material prices affect the operational costs of cone
crusher users. Growing environmental regulations threaten certain applications
that produce high noise and dust pollution.
Key Takeaways:
The global Cone
Crusher Market Growth is expected to witness high growth, exhibiting CAGR of 6.4% over the forecast period,
due to increasing infrastructural activities in developing regions. Rising
construction of roads, dams and other projects fuels the demand for cone
crushers in these regions.
Regional analysis The Asia Pacific region currently dominates the global cone
crusher market, holding around 35% of the total share. China, India, and other
Southeast Asian countries are exhibiting high demand on account of rapid
urbanization and infrastructure growth. North America and Europe are also
significant regional markets driven by recovery in construction spending and
mining production.
Key players operating in the cone crusher market are Tesab Engineering Ltd.,
Terex Corporation, ThyssenKrupp AG, Metso Corporation, FLSmidth & Co. AS,
McCloskey Equipment, Keestrack NV, Westpro Machinery Inc., Puzzolana Machinery
Fabricators LLP, Â Astec Industries Inc., and Sandvik AB. The market is
fragmented in nature with the top players accounting for around 25-30% share.
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