Cone crusher market is anticipated to grow at a considerable CAGR of 5.1% during the forecast period (2024-2031).Cone crushers are primarily used for crushing hard, abrasive, and dense materials, such as granite, used in the construction industry. These crushers are currently available in multiple types, such as stationary, track, and mobile designs. The construction industry is one of the largest demand generators for crushers.

Market Dynamics

Technology Advancements Drives the Demand for Cone Crusher Market

The ongoing advancements and improvements in cone crusher technology by key market companies, such as remote monitoring, automation, and enhanced crusher chamber design, which improves the overall efficiency and performance driving the global market. The strong focus of key players on expanding their product portfolio and market reach with new product launches across various regions, are further anticipated to create lucrative growth opportunities for the market.For instance, in June 2021, Kleemann introduced its new mobile cone crusher named the MOBICONE MCO 90(i) EVO2, which is specially designed for intelligent control engineering, quality crushing, and high economy. The newly launched crusher can be used as a supplement for the company jaw’s crushing plant and offers users a range of benefits and advantages.

Expansion of the Construction Industry to Boost Demand for Cone Crushers. 

Cone crusher demand is increasing internationally as governments engage in infrastructure projects. Furthermore, the market is likely to benefit from an emphasis on affordable housing initiatives. Cone crushers offer multiple practical benefits to businesses, which is projected to boost the sales of cone crushers. In countries such as India, where the mining sector is not seeing considerable expansion, the demand for cone crushers in the mining industry is declining, impeding worldwide cone crusher future growth.Transport systems, tunnels, residential and non-residential buildings, and coal are all continuously growing businesses that necessitate the building of new equipment. This increases the demand for aggregates, concrete, and precast goods and components. As a result, there is a significant possibility for growth in the cone crusher market in developing markets. As a result, it is anticipated that the cone crusher market would expand more aggressively shortly.

Market Segmentation

Our in-depth analysis of the global cone crusher market includes the following segments by type, power source, and application:

• Based on type, the market is sub-segmented into symons, hydraulics, and gyratory.

• Based on power source, the market is sub-segmented into electric connection, diesel connection, and dual connection.

• Based on application, the market is sub-segmented into mining and metallurgy, construction, aggregate processing, demolition, and environmental.

Construction is Projected to Emerge as the Largest Segment

Based on the application, the global cone crusher market is sub-segmented into into mining and metallurgy, construction, aggregate processing, demolition, and environmental. Among these, the  construction sub-segment is expected to hold the largest share of the market. Crushers are widely used for getting the decreased size of the huge gravel or rock as per the construction necessities. There is an increase in residential and commercial construction activity throughout the world as the government of various countries is investing largely in the development of infrastructure like bridges, roads, and railways that needs jaw crushers.Some enterprises are employing cone crushers and jaw crushers to increase productivity and speed. VeljeksetPaupek of Tornio, Finland, for instance, used a Lokotrack LT200HP cone crusher and a Lokotrack LT106 jaw crush machine to form a two-stage hydraulic press. It was capable of breaking an appropriate quantity of 10,000 metric tonnes in only two weeks as a result of this.The construction segment dominates the market as the crushers are widely used for getting the decreased size of the huge gravel or rock as per the construction necessities.

Hydraulic Sub-segment to Hold a Considerable Market Share

New cone crushers with hydraulic hold-down locking allow industries to crush at a larger throughput and with more power than ever. Because autonomous controlling of cone crushers has increased energy use and output, market providers are working on expanding the efficiency of their offerings. For instance, Metso's Nordberg HP900 series cone crusher features a redesigned lubrication system, enhanced kinematics, a higher pivot point, and greater power to provide a 15% capacity enhancement. Higher size means higher manufacturing and profit in the mining sectors, where productivity and speed are critical.

Regional Outlook

The globalcone crushermarket is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America). North America is anticipated to hold a substantial share of the global cone crusher market due to the presence of well-established and technologically proficient manufacturers in the area. Due to the country's high demand for cone crushers, the United States is the most important market in North America. Given the rising need for enhanced crushing strength against abrasive materials, developed nations such as the United States and Europe are mature markets for cone crushers.

Global Cone Crusher Market Growth by Region 2024-2031

Asia-Pacific Holds Major Market Share

Among all the regions, Asia-Pacific holds a major market.  China is the world's largest producer of coal, gold, and the majority of rare earth materials. Mining equipment such as cone crushers is in great demand. Large-scale mining equipment manufacturers in China export mining equipment to African countries rich in mineral resources.According to the National Bureau of Statistics of China, in 2020, the construction industry value in China amounted to USD 1,049 billion. As the Chinese government plans to focus on improving the infrastructure in small and medium-sized cities, the construction industry is forecasted to maintain continuous growth at around 5% annually. In 2021, the market value of China's construction industry totaled USD 1,117.42 billion. The country's robust growth in construction activities is anticipated to offer lucrative opportunities for the development of the studied market.With China's growing need for higher-quality iron ore (to cut down on pollution and improve efficiency), Australian miners are increasing their production capacities and investing in replacing older and exhausted mines. With Australia being one of the largest exporter of iron ore to China, such mining trends would contribute to the positive demand for processing equipment, like cone crushers. Further, with the introduction of investor-friendly regulations and laws in emerging economies, such as Vietnam, Myanmar, and Indonesia, these countries are expected to approve numerous production and exploration projects during the forecast period.

Market Players Outlook

*Note: Major Players Sorted in No Particular Order.

The major companies serving the global cone crushermarket include Metso Corp , Sandvik AB, Terex Corp., thyssenkrupp AG, among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market. For instance, In March 2022,Sandvik launched its UK373 wheeled cone crusher and surface drills rental fleet in the United States while at the same time displaying its CH440 cone crusher and rock tools display. Sandvik UK373 offers an electrically-driven, closed-circuit crushing solution assembled on a quad-axle trailer frame. Sandvik CH440 is intended for a high-capacity secondary application or a high-reduction tertiary or pebble-crushing application and can also be matched to changes in production through the selection of crushing chambers and an eccentric throw

The Report Covers

• Market value data analysis of 2023 and forecast to 2031.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global cone crushermarket. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.