Cone Crushers Market

Cone Crushers Market Outlook (2023 to 2033)

The global cone crushers market stands at a value of US$ 2.21 billion in 2023 and is forecasted to expand at a CAGR of 5.5% to reach US$ 3.8 billion by 2033-end.

Operating on a compression mechanism, a cone crusher effectively reduces the material size by squeezing and compressing the feed material between a mobile steel component and a fixed steel piece. The final sizing and reduction occur based on the closed side setting, which refers to the gap between the two crushing members at their lowest point. Cone crushers are versatile machines suitable for various applications, including secondary, tertiary, and quaternary crushing tasks.

Market growth is being driven by a combination of factors, with rising investments in infrastructure development and a notable upswing in commercial construction activities playing a significant role. Additionally, increasing adoption of automation in mining operations is fueling the demand for cone crushers equipped with hydraulic clamping systems, leading to enhanced output.

Rising environmental concerns and stringent government regulations have prompted organizations to seek cost-effective and energy-efficient equipment solutions. As a result, cone crushers are being adopted extensively in the recycling and reuse of bitumen and aggregates for the creation of new asphalt, contributing to a more sustainable approach in the industry.

Cone crushers are known to incur significant operating costs related to maintaining worn components. In response to this challenge, market players are introducing liner profiling systems, which present a notable advancement in predicting mantle and concave liner replacements. These systems also aid in identifying areas of asymmetrical and high wear, measuring open and closed-side settings, and calculating the wear life of cone crushers.

Manufacturers are launching connected variants of cone crushers that incorporate built-in computer intelligence and automation, along with advanced connectivity systems. These advancements enable operators to accurately predict performance, optimize uptime, and promote sustainability, thereby driving an expected increase in demand for these enhanced cone crushers in the years to come.

Report Attributes	Details
Cone Crushers Market Size (2022)	US$ 2.1 Billion
Estimated Market Value (2023)	US$ 2.21 Billion
Forecasted Market Value (2033)	US$ 3.8 Billion
Global Market Growth Rate (2023 to 2033)	5.5% CAGR
Germany Market Growth Rate (2023 to 2033)	4% CAGR
Electrical Power Source Segment Growth Rate (2023 to 2033)	6% CAGR
China Market Growth Rate (2023 to 2033)	9% CAGR
Key Companies Profiled	ThyssenKrupp AG Terex Corporation Sandvik AB McCloskey Equipment Metso Corporation Astec Industries Inc. Tesab Engineering Ltd Keestrack Puzzolana

What are the Key Factors Driving Increased Demand for Cone Crushers?

“Growing Emphasis of Mining Industry on Cost Reduction, Production Enhancement, and Improved Energy Efficiency”

Industries utilizing crushing equipment are directing their efforts towards cost reduction, production enhancement, and improved energy efficiency, as these machines are major contributors to increased energy consumption. Notably, mining operations consume a substantial amount of energy, with ammunition accounting for a major chunk of the total energy used.

• Thermo Fisher's data indicates that ore grinding and crushing alone account for 3% to 5% of the world's power consumption.

Several vendors in the cone crushers market are now offering solutions that prioritize energy efficiency and cost savings.

• For example, Metso has introduced the Lokotrack LT4MX mobile cone crusher, designed with a direct v-belt drive to achieve excellent energy efficiency and performance. This exemplifies the industry's growing focus on more sustainable and economically viable equipment options.

“Rising Investments in Infrastructure Projects and Expansion of Mining Industry”

Increasing investments in infrastructure projects, such as the construction and improvement of roads, bridges, and buildings, drive the demand for cone crushers as they are essential for processing crusher backing materials like aggregates and concrete. The mining industry's growth and expansion require cone crushers for ore and mineral processing. Rising demand for metals, minerals, and precious stones fuels the need for efficient crushers to extract and process these resources.

The construction industry's steady growth, especially in emerging economies, creates a significant demand for concrete crusher rental to crush and process materials for various construction purposes. Ongoing technological advancements in cone crushers, such as improved automation, better operational efficiency, and enhanced safety features, attract businesses to invest in newer and more efficient equipment.

Rapid urbanization and a growing global population result in increased infrastructure and demands, leading housing to a rise in cone crusher usage for construction and building materials.

What are the Primary Challenges Faced by Cone Crusher Manufacturers?

“High Maintenance Cost and Environmental Concerns Associated with Operation of Crushing Equipment”

Along with the initial investment, cone crushers also entail ongoing operational and maintenance expenses, which could be a challenge for some businesses, especially those with budget constraints.

Stringent environmental regulations and increasing focus on sustainability may pose challenges for cone crushers that generate dust and noise during operation. Complying with these regulations requires additional investments and modifications to existing equipment.

Presence of alternative crushing technologies, such as impact crushers and jaw crushers, is expected to reduce demand for cone crushers.

“Preference for Used Cone Crushers Over New Equipment to Reduce Expenses”

Cone crushers are well-suited for certain applications like mining and construction, but they are not the optimal choice for other industries or materials, limiting the growth of the cone crushers market.

Availability of used cone crushers and the preference for cost-saving options by some buyers are anticipated to limit new cone crusher sales. Demand for cone crushers is often influenced by cyclical industries like construction and mining, which can experience fluctuations, impacting the market's growth trajectory.

Geographical limitations, such as remote or difficult-to-access locations, can impact the transportation and installation of cone crushers, affecting their adoption in certain regions.

Country-wise Insights

Why is China a Profitable Market for Cone Crushers Manufacturers?

“Rapid Infrastructure Development in Small- and Medium-Sized Cities and Growing Construction Sector”

China's robust growth in construction activities, driven by infrastructure projects and urbanization, is expected to offer lucrative opportunities for cone crusher manufacturers. Demand for efficient and reliable crushers in the construction and mining sectors is likely to rise in response to the country's burgeoning construction needs.

China has emerged as a prominent player in the global construction market, boasting substantial growth and investment.

• According to the National Bureau of Statistics of China, the construction industry reached a value of US$ 1,049 billion in 2020. With the Chinese government prioritizing infrastructure development in small- and medium-sized cities, the construction sector is projected to sustain a steady annual growth rate of around 5%. In 2021, the value of China's construction industry surged to US$ 1,117.42 billion, further highlighting its robust expansion.

This upward trajectory in construction activities presents promising and lucrative opportunities for the studied market's development in China. The country's unwavering commitment to infrastructure enhancement is expected to be a key driving force propelling the growth and success of relevant industries in the region.

Why is Demand for Cone Crushers Increasing in the United States?

“High Demand for Aggregates for Construction and Quarrying Industries”

Demand for aggregates, particularly in the construction sector, is a key driver for cone crusher sales in the United States. Cone crushers are essential for processing various aggregates, making them indispensable in the quarrying industry. The country's construction and mining industries are expanding rapidly due to global population growth and a thriving economy, leading to an increased demand for crushers in mining applications.

Growing environmental concerns and regulations in the United States encourage the adoption of cone crushers with improved energy efficiency and reduced emissions. Environmentally friendly crushers are gaining traction in the market.

The market in the United States witnesses a mix of domestic and international players competing for market share. As demand for efficient and versatile crushing equipment continues to rise, opportunities for growth and innovation emerge for both established companies and new entrants.

Category-wise Insights

Why are Cone Crushers Extensively Used in the Mining Sector?

“Integration of Data Analytics and IoT into Cone Crushers for Productivity Optimization”

During the forecast period, the mining and metallurgy segment is anticipated to hold a substantial market share. Market instability and decline in commodity prices have triggered a new trend, emphasizing cost-cutting, automation, and operational efficiency as crucial aspects. This industrial downturn has presented significant opportunities for major organizations to revamp their services and incorporate intelligent practices, enabling them to offer clients efficient and sustainable solutions.

Digitalization and innovation have long been adopted by the mining industry. Utilizing modern data analytics and the Internet of Things (IoT) has proven beneficial for mining operations, enabling them to optimize productivity.

Manufacturers of crushers worldwide are introducing equipment with built-in computer intelligence, empowering miners to predict equipment wear and minimize unplanned downtime. This advanced technology provides a strategic advantage for mining companies, allowing them to enhance their operations and maintain a competitive edge in the market.

Which Type of Cone Crusher is Being Preferred Off Late?

“Innovative Electrical Power Systems Enhancing Efficiency and Performance of Cone Crushers”

Cone crushers are vital equipment in the mining, construction, and aggregate industries, used to break down and crush various materials efficiently. A critical aspect of cone crushers is the electrical power source that drives their operation. The type of electrical power supply used in cone crushers plays a significant role in their performance, energy efficiency, portability, and overall environmental impact.

An electrical power supply is the primary source of energy that drives a cone crusher's motor. Most cone crushers operate using electricity to power their motors, which then drive the motion of the crushing head. This electrical power supply is typically obtained from the grid, generator sets, or other onsite power sources.

In recent years, there have been notable innovations in electrical power systems. Manufacturers are integrating smart technologies, advanced control systems, and energy-saving features into cone crushers. These innovations help optimize power consumption, predict equipment wear, and reduce unplanned downtime, ultimately improving the overall efficiency and productivity of cone crushers.

Competitive Landscape

The cone crushers market is characterized by intense competition, with various companies vying for market share.

Focus on product innovation and technological advancements are effective strategies employed by key players to differentiate their cone crushers and gain a competitive advantage.

• In October 2021, Metso Outotec launched two new mobile cone crushers, the LT200HPX and LT 220GP, offering 30% greater capacity for hard rock crushing with building aggregates. The crushers are compact and efficient, and come with high-capacity cone crusher options, the Nordberg HP200 and GP220, driven by a Cat C9.3B power transmission. Customers can choose between these two high-capacity cone crusher options for hard rock crushing.

Key Segments of Cone Crushers Industry Research

• By Power Source :

  • Electrical
  • Diesel
  • Dual

• By Mobility :

  • Stationary
  • Portable-wheeled
  • Portable-tracked-mounted

• By End Use :

  • Mining
  • Construction
  • Recycling

• By Region :

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa