Cone Crushers Market Analysis, Size, Share, Growth, Key Trends and Forecast To 2030 | At a CAGR of 5.5%
Advancement in construction and demolition equipment is expected to boost the growth of the cone crushers market.
PORTLAND, OR, UNITED STATES, July 12, 2023/EINPresswire.com/ — Cone crushers are highly effective at using compression to crush material into a consistent product. For this reason, cone crushers are the most commonly used crushing plant for secondary and tertiary crushing stages in both the aggregate and recycling industries. The cone crushers market size was valued at $1.7 billion in 2020, and is expected to reach $2.9 million by 2030, registering a CAGR of 5.5% from 2021 to 2030.
Rise in government expenses on infrastructural development, demand for shorter construction time and cost-effective items, and progress in manufacturing technology propel the global cone crusher market. On the other hand, high initial investments and the use of alternative construction materials hinder the progress of the market. On the contrary, rise in urbanization and industrialization of developing countries creates lucrative opportunities for the market players in the future.
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The cone crushers market is mainly driven by factors such as increase in government expenditures for infrastructural development, such as improvement of tunnels, mining operations, and other construction activities has been expected to increase. Thus, rapid urbanization and industrialization in developing countries have given rise to construction activities. In addition, development in manufacturing technology for construction activities is one of the major driving factors of the market, which ultimately saves construction time and delivers better results.
COVID-19 scenario:
• The cone crushers market was hampered due to restraints on construction and mining activities during the lockdown. In addition, the production of these machines was also impacted.
• The market is expected to recover once the lockdown restrictions are uplifted due to vaccination campaigns started by governments across the world.
• The spread of the COVID-19 has halted logistic and manufacturing projects across the world, which has led to the interruption of the supply chain, hindering the growth of the market.
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The report segments the global cone crusher market on the basis of end-user industry, sales type, mobility, and region.
Based on mobility, the portable-wheeled segment accounted for the largest market share in 2020, contributing to more than half of the total share, and is expected to maintain the lead throughout the forecast period. On the other hand, the portable-tracked mounted is estimated to witness the fastest CAGR of 5.9% from 2021 to 2030.
Based on sales type, the new equipment sales segment contributed to the highest market share in 2020, attributing to three-fourths of the total market share, and is anticipated to dominate the market during the forecast period. On the other hand, the aftermarket sales segment is expected to manifest the fastest CAGR of 6.0% from 2021-2030.
Based on region, Asia-Pacific, followed by North America and Europe contributed to the highest share in 2020, holding more than half of the global cone crusher market, and is anticipated to maintain dominance throughout the forecast period. On the other hand, LAMEA is anticipated to portray the fastest CAGR of 6.1% during the forecast period.
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Leading Players:
Key players of the global cone crusher market analyzed in the research include CITIC Limited, Chengdu Dahongli Machinery Company Limited, Constmach, Meka, FLSmidth, Metso Outotec, Tenova S.p.A., Sandvik AB, The Weir Group PLC, and Thyssenkrupp AG.
David Correa
Allied Analytics LLP
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