Cone Crushers Market Size, Share, and Industry Report [2031]

Report Description

The global cone crushers market size was valued at USD 1.91 Billion in 2022 and is likely to reach USD 3.09 Billion by 2031, expanding at a CAGR of 5.5% during 2023 – 2031. The growth of the market is attributed to low transportation costs, rapid urbanization, and increasing mining activity in emerging countries.

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Cone crushers squeeze or compress feed material between an eccentrically gyrating spindle, which is covered by a wear-resistant mantle, and an enclosing concave hopper, which is covered by a manganese concave or a bowl liner, to reduce its size. The feed material is wedged and compressed between the mantle and the bowl liner as it enters the cone crusher.

As the material goes down through the bowl liner, the opening in the cavity gets tighter, the material is reduced into tiny bits. Cone crushers have a big eccentric throw, a high pivot-point crushing action, and a variable direct drive speed. These crushers can be used to crush a wide range of rocks, in terms of its hardness. Contractors and miners uses mobile cone crushers to move crushing equipment from one location to another with minimal complications. Mobile cone crushers can also be dismantled in a matter of days or weeks and transported to the suitable location.

Mining, construction, processing, and demolition industries' crushing and grinding requirements have changed dramatically in the last two decades.  Earlier, crushers were primarily stationary equipment that converted coarse materials to aggregated materials before passing them on to tertiary crushing equipment. In recent years, hydraulic hold-down clamping cone crushers allow industries to crush at higher capacity and with more power. Cone crushers' automatic control has increased their power consumption as well as their throughput, prompting market sellers to focus on expanding the capacity of their goods.

The recent epidemic of COVID-19 severely hampered worldwide mining and construction operations, resulting in a severe labor shortage and lack of capital investment. Such events are projected to have a negative impact on global demand for equipment in these industries. However, restrictions on the relaxations imposed by government state bodies is expected to positively influence the market growth.

_{Market Trends, Drivers, Restraints, and Opportunities}

• Increasing demand for mobile cone crushers and screeners from quarry operators in India to help them overcome logistical obstacles is expected to drive the market growth.

• Growing requirement for low cost production equipment is anticipated to fuel the growth of the market.

• High energy consumption is estimated to hinder the market growth.

• Rapid infrastructural development in low-income countries and emerging economies is estimated to create lucrative opportunities during the forecast period.

Scope of the Report

The report on the cone crushers market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Cone Crushers Market Segment Insights:

 Hydraulics segment to account a major market share

Based on types, the market is segregated into symons, hydraulics, and gyrator. The hydraulic segment is expected to grow at a healthy rate during the forecast period. Hydraulic cone crusher has high RPM, a preferred cavity shape, and an acceptable stroke. On the other hand, the symons segment is anticipated to account for a considerable share in the projected timeline. Secondary, tertiary, and quaternary crushing are  employed with help of symons. They achieve this by using a flatter chamber shape and rotating at almost twice the speed of a primary type gyratory crusher.

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Mining and metallurgy segment is anticipated to expand at a robust CAGR

On the basis of applications, the cone crushers market is segregated into mining and metallurgy, aggregate processing, construction, and demolition. The mining and metallurgy segment is estimated to account for a significant market share during the forecast period.  Market instability and commodity price decline have spawned a new trend in which cost-cutting, automation, and operational efficiency have become critical. This industrial downturn has created chances for major organizations to restructure their services and integrate smart practices in order to provide clients with efficient and sustainable solutions. Digitalization and innovation have always been fostered and used by the mining industry. Using modern data analytics and the Internet of Things (IoT) have helped mining operations to maximize productivity. Crusher manufacturers all over the world are launching equipment with built-in computer intelligence that allows miners to predict equipment wear and reduce unplanned downtime.

Asia Pacific is projected to hold a major market share

In terms of regions, the global cone crushers market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. China's building industry is expanding rapidly, and by 2030, it is estimated to contribute USD 2.1 trillion to global construction production. The country's 'one belt, one road' plan is promoting cooperation and trade with its neighbors, drawing significant investment in the construction sector, which is expected to boost the country's construction equities. As part of its considerable expansion and transformation of its supply chain industry, China plans to build 30 logistics hubs in 2020 and 150 in the next five years, which is projected to positively impact the market in Asia Pacific.

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India is one of the rapidly growing construction industries in the area, with construction spending estimated to total approximately USD 13 trillion by 2030. Rapid urbanization and disposable income are expected to create a huge demand for housing projects. Moreover, the focus on improvement of infrastructure to bolster the country's economic position is creating market opportunity in the region and generating additional growth for the cone crushers market in the country.