Cone Crushers Global Market Report 2024

The cone crushers market size has grown strongly in recent years. It will grow from $2.31 billion in 2023 to $2.47 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The expansion observed in the historical period can be attributed to the development of urban infrastructure, advancements in research and development of crushing machinery, overall economic growth, and the expansion within the mining industry.

The cone crushers market size is expected to see strong growth in the next few years. It will grow to $3.13 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. Anticipated growth in the upcoming period is expected due to the rising demand for aggregates, the growth in road construction activities, the increased utilization of mobile and wireless crushers, and continued infrastructure development. Key trends projected for this period encompass product innovation in crushing machinery, the implementation of automation and remote monitoring systems, the integration of IoT (Internet of Things) and data analytics, and advancements in technology within the crushing machinery sector.

The upward trajectory of the cone crushers market is strongly fueled by the burgeoning demand for construction and infrastructure developments. Construction, encompassing the erection of buildings and infrastructure, serves as a key driver for this market's growth. Cone crushers play a pivotal role in the construction industry by reducing the size of raw materials and feed, thereby aligning with the increased demands of construction activities. For instance, data from the Office for National Statistics, a UK-based authority on official statistics, revealed a notable surge in construction production. In the fourth quarter of 2022, there was a 0.3% upturn in quarterly construction production compared to the preceding quarter. Moreover, following a remarkable 12.8% growth in 2021, the annual production of construction rose by 5.6% in 2022 compared to the previous year. Consequently, the escalating need for construction and infrastructure advancements is poised to be a significant driving force behind the expansion of the cone crushers market.

The burgeoning need for metals and minerals is anticipated to propel the cone crushers market. Metals and minerals encompass both metallic elements and non-metallic substances extracted from the earth, critical for diverse industrial applications in manufacturing, construction, and energy generation. Cone crushers play a pivotal and adaptable role in the metals and mineral mining sector, serving as essential machinery for reducing ore sizes and preparing materials for subsequent processing stages in mining and mineral extraction. For example, as per the International Energy Agency (IEA) report in July 2023, critical mineral production saw a remarkable 30% surge, reaching $41 billion in 2022 following a 20% increase in 2021. Over the last five years, the demand for critical minerals has sharply risen, witnessing a threefold surge in lithium consumption and a 70% upswing in cobalt demand. Therefore, the escalating demand for metals and minerals is set to be a significant driving force behind the cone crusher market's growth trajectory.

In the cone crusher market, a prevailing trend revolves around product innovations, with major industry players dedicating efforts to innovating their offerings to maintain market relevance. Notably, in March 2023, Metso Outotec Corporation, a prominent Finland-based industrial machinery company, introduced the HP200e cone crusher. This innovation has significantly elevated performance levels within the aggregates sector by enhancing uptime and sustainability. The HP200e showcases advanced kinematics and redesigned chambers, enabling swifter and safer liner replacements without requiring backing material. Its features include a 10% increase in head motion, a 20% boost in kilowatt power, and a more environmentally conscious design, all contributing to heightened performance and eco-sustainability for aggregates producers.

Key players in the cone crusher market are prioritizing the development of technologically advanced products, such as live-shaft cone crushers, to address the evolving needs of the industry. Live-shaft cone crushers, characterized by a rotating shaft for real-time crushing operations, offer dynamic capabilities across diverse industrial applications. For example, in December 2021, Weir Minerals, a UK-based machinery industry leader, expanded its range of Trio TC live-shaft cone crushers by introducing the Trio TC84XR. This model preserves the robust design elements that have solidified live-shaft crushers as stalwarts in mining, sand, and aggregate industries across generations while incorporating the latest technology to ensure continued relevance in future workflows. The live-shaft concept of Trio TC cone crushers integrates advanced hydraulics, wear-resistant materials, and cutting-edge technology, showcasing exceptional performance in demanding secondary and tertiary crushing tasks. Engineered for reliability, simplified maintenance, and optimal functionality, the Trio TC84XR crusher excels in heavy-duty scenarios, delivering substantial crushing force and horsepower for primary, crushed ore, and quarry rock applications.

In May 2022, Metso Outotec Corporation, a Finland-based industrial machinery firm specializing in mining and aggregates technology and services, completed the acquisition of Tesab, the details of which remained undisclosed. This strategic acquisition aims to bolster Metso Outotec's offerings in the mobile crushing and screening sectors by integrating Tesab's renowned product line. Tesab Engineering, based in the UK, is recognized for its expertise in manufacturing crushers, screeners, and bulk handling systems. The acquisition positions Metso Outotec to harness Tesab's strengths, leveraging their innovative solutions to further enhance the mobile crushing and screening capabilities within their portfolio.

Major companies operating in the cone crushers market report are Thyssenkrupp AG, Tesab Engineering Ltd., Sky Machinery, Weir Group PLC, Sandvik AB, Hazemag & EPR GmbH, Metso, Mesto Corporation, Terex 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, Global Mining Crusher, Shanghai Gator Mechinery Co.Ltd., Raptor Cone Crushers.

Asia-Pacific was the largest region in the cone crushers market in 2023. The regions covered in the cone crushers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cone crushers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of cone crushers include Symons, hydraulic, and gyratory models. Symons cone crushers are utilized as medium or fine crushers in sites where high granularity isn't a necessity. They exist in various forms such as mobile, portable, stationary powered by electric, diesel, or dual connections. These crushers cater to end-users in mining and metallurgy, aggregate processing, construction, and demolition industries.

The cone crusher market research report is one of a series of new reports that provides cone crusher market statistics, including cone crusher industry global market size, regional shares, competitors with a cone crusher market share, detailed cone crusher market segments, market trends and opportunities, and any further data you may need to thrive in the cone crusher industry. This cone crusher market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The cone crushers market consists of sales of inertia cone crushers and single-cylinder hydraulic cone crushers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.