by Cone crushers are machines used in mining and aggregates industries for crushing rocks and ores. They find extensive applications in mining and construction projects for breaking down large rocks into gravels or sands. With rapid urbanization and infrastructure development worldwide, demand for construction materials has increased substantially over the years. This has fueled the growth of mining and quarrying activities globally to meet the rising demand from construction industry. The Global Cone Crusher Market Size is estimated to be valued at US$ 2086.43 Mn in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Gobal construction activities have grown substantially over the past few decades driven by urbanization, population growth, and rising living standards. According to World Bank, the global construction market size was valued at over US$ 8 trillion in 2020 and is projected to reach nearly US$ 15 trillion by 2025, expanding at a CAGR of 8.5% during 2021-2025 period. The strong growth in construction sector has increased the demand for crushed stones and other aggregates significantly. This rising demand is a key driver bolstering growth of global cone crusher market as these machines are extensively used in mines and quarries for crushing raw materials to produce construction aggregates.
SWOT Analysis
Strength: Cone crushers are used for crushing various materials like ores, basalts, river pebbles, etc. They provide stable performance with features like advanced hydraulic technology and wear-resistant parts.
Weakness: Higher operational and maintenance costs compared to other crushers. Frequent replacement of wear parts is required for continuous usage.
Opportunity: Rising infrastructural development activities in emerging economies increases the demand for crushed materials which boosts the cone crusher market. Growing automotive and construction industries also drive the market.
Threats: Availability of substitutes like jaw crushers and roll crushers poses competition. Fluctuations in raw material prices impacts the project costs of end-use industries.
Key Takeaways
The global Cone Crusher Market is expected to witness high growth at a CAGR of 8.6% during the forecast period of 2024 to 2031.
Regional analysis: Asia Pacific is currently the fastest growing region in the cone crusher market and is expected to continue dominating during the forecast period. Its share accounted for over 35% of the global market in 2024 owing to increasing government investments in infrastructural projects in China, India, and other developing Asian countries.
Key players operating in the Cone Crusher Market are Wood plc, WorleyParsons, Fluor Corporation, Aecom, Jacobs, SNC-Lavalin, Hatch Ltd, Bechtel Corporation, KBR Inc, TechnipFMC, Chicago Bridge & Iron Company, Hyundai Engineering & Construction, McDermott International Inc, National Projects Construction Corporation, Galfar, Tecnicas Reunidas, Saipem, Daewoo E&C, Petrofac Ltd, Samsung Engineering. These key players are focusing on new product launches and partnerships with regional players to strengthen their presence across global locations.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
