Cone Crusher Market Growth Accelerated by Increased Mining & Construction Activities

 

Cone crushers are primarily used in mining and construction sectors for crushing material down to a size suitable for further processing or for making manufactured sand and gravel. The construction and mining industries have been growing rapidly across the globe owing to rising urbanization and industrialization. Rapid infrastructure development projects such as roads, highways, railways and real estate construction have increased the demand for crushed stones which is driving the growth of the cone crusher market. The Global Cone Crusher Market Size is estimated to be valued at US$ 2086.43 Mn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The increased adoption of smart cone crushers integrated with automation and digitization technologies have pushed the demand for cone crushers in recent years. Smart cone crushers offer advanced monitoring and remote operation capabilities along with predictive maintenance which helps reduce downtime and enhances productivity. Manufacturers are focusing on developing next-generation cone crushers with advanced technologies such as IoT, data analytics and artificial intelligence for predictive maintenance and smart operations. This is expected to automate cone crushing operations, improve efficiency and reduce operational costs.


Segment Analysis
The global cone crusher market is dominated by the stationary segment which holds around 65% share of the overall market. Cone crushers are majorly used in mining and quarrying industries for crushing hard and abrasive rocks and ores. Due to its robust design and ability to handle large rocks, stationary cone crushers are preferred for primary and secondary crushing applications in large scale mining sites and quarries.

Key Takeaways
The global cone crusher market is expected to witness high growth during the forecast period of 2024-2031. The market is projected to reach a value of US$ 2086.43 Mn by 2031, expanding at a CAGR of 8.6% during the same period.

Regional analysis: The Asia Pacific region dominated the global cone crusher market in 2024 with a share of over 35%, followed by Europe and North America. China, India, and other developing Asian countries contributed significantly to the growth of the market in the region. This can be attributed to the presence of a large number of mining sites, increased mining activities, and rapid industrialization and infrastructure development projects in these countries.

Key players operating in the cone crusher market are Wood plc, WorleyParsons, Fluor Corporation, Aecom, Jacobs, SNC-Lavalin, Hatch Ltd, Bechtel Corporation, KBR Inc, TechnipFMC, Chicago Bridge & Iron Company, Hyundai Engineering & Construction, McDermott International Inc, National Projects Construction Corporation, Galfar, Tecnicas Reunidas, Saipem, Daewoo E&C, Petrofac Ltd, Samsung Engineering. Wood plc and WorleyParsons dominated the engineering, procurement, and construction segment of the cone crusher market in 2024.

Get More Insights Here: https://www.ukwebwire.com/cone-crusher-market-demand-growth-and-regional-outlook-by-2030/

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