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Global Cone Crushers Market Projected to Grow at 5.6% CAGR, Reaching $3.2 Billion by 2029
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.What Will the Cone Crushers Industry Market Size Be by 2025?
In recent times, there has been a consistent expansion in the size of the cone crushers market. The value of this market is projected to increase from $2.45 billion in 2024 to $2.57 billion in 2025, marking a Compound Annual Growth Rate (CAGR) of 4.9%. Factors contributing to this growth during the historic period include urban infrastructure advancement, R&D efforts in crushing machinery, economic growth, and the mining industry's development.
What's the Long-Term Growth Forecast for the Cone Crushers Market Size Through 2029?
Anticipated robust expansion is seen in the cone crushers market in the upcoming years, with projections signaling a growth to $3.2 billion by 2029, progressing at a compound annual growth rate (CAGR) of 5.6%. This potential boom during the anticipated period can be associated with the escalating demand for aggregates, expansion of road construction initiatives, the heightened reliance on mobile and wireless crushers, and infrastructure development. Foreseen trends within this projection period encompass product innovation, automation and remote monitoring, integration of IoT and data analytics, and technological advancements.
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What Are the Key Growth Drivers Fueling the Cone Crushers Market Expansion?
The cone crushers market is experiencing significant growth, largely due to the increasing demand for construction and infrastructure development. Construction activities, encompassing the building of structures and infrastructures, often involve the use of cone crushers to reduce the size of raw materials. This implies that an increase in construction activities will trigger a heightened demand for cone crushers. A report in March 2023 from the Office for National Statistics, a UK-based official statistics producer, revealed that construction production in the fourth quarter of 2022 rose by 0.3% compared to the third quarter of the same year. Following a notable growth of 12.8% in 2021, the annual production of construction further escalated by 5.6% in 2022 relative to 2021. This upsurge in construction and infrastructure developments is a key driver of the cone crushers market.
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What Are the Key Trends Driving Cone Crushers Market Growth?
The cone crusher market is experiencing a surge in product innovation - a trend that is rapidly growing in popularity. Major firms involved in this market are tapping into product innovation to maintain their market dominance. A prime example is the Finland-based industrial machinery firm, Metso Outotec Corporation, which unveiled the HP200e cone crusher in March 2023. This innovative product boosts performance in the aggregates sector through enhanced uptime and sustainability. It incorporates modern kinematics and reconfigured chambers, which enable quicker, safer liner replacements without the need for backing material. With the HP200e, aggregates producers can benefit from a 10% increase in head motion, 20% more kilowatt power, and a more sustainable solution. These features result in heightened performance and a boost in environmental sustainability.
How Is the Cone Crushers Market Segmented?
The cone crushersmarket covered in this report is segmented -
1) By Type: Symons, Hydraulics, Gyrator
2) By Offering: Mobile Crushers, Portable Crushers, Stationary Crushers
3) By Power Source: Electric Connection, Diesel Connection, Dual Connection
4) By End-Users: Mining And Metallurgy, Aggregate Processing, Construction, Demolition
Subsegments:
1) By Symons: Standard Symons Cone Crushers, Short Head Symons Cone Crushers
2) By Hydraulics: Hydraulic Cone Crushers, Multi-Cylinder Hydraulic Cone Crushers
3) By Gyrator: Gyratory Crushers (Conventional), Ultra-Fine Gyratory Crushers
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Which Companies Are Leading the Charge in Cone Crushers Market Innovation?
Major companies operating in the cone crushers market include ThyssenKrupp AG, Tesab Engineering Ltd., Weir Group PLC, Sandvik AB, Hazemag & EPR GmbH, Metso, Mesto Corporation, Corporation, FLSmidth & Co. A/S, Superior Industries Inc., Johnson Crushers International Inc., Astec Industries Inc., Propel Industries Private Limited, McLanahan Corporation, Remco Inc., Eagle Crusher Company Inc., McCloskey International Limited, Trio Engineered Products, Keestrack NV, Telsmith Inc., Lippmann-Milwaukee Inc., Minyu Machinery Corporation, Puzzolana Machinery Fabricators LLP, WESTPRO Machinery Inc., IROCK Crushers LLC, Trimax Machinery, Shanghai Gator Machinery Co.Ltd, Raptor Cone Crushers
Which Regions Are Leading the Global Cone Crushers Market in Revenue?
Asia-Pacific was the largest region in the cone crushers market in 2024. The regions covered in the cone crushers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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