Cone crushers are mechanical crushing machines used in mining and aggregates production. They are suitable for processing abrasive and moderately sticky raw material and produce coarse, moderate and fine grain size ores and aggregates. Cone crushers provide uniform shaped end products owing to their design which ensures open cone setting and constant product gradation. The global cone crusher Market is estimated to be valued at US$ 1811.13 Mn in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The opportunity of increasing mining activities is expected to boost demand for cone crushers over the forecast period. Mining of metals and minerals is a vital sector for economic growth across various regions. With rising global population and economic development, demand for metals and minerals from end-use industries such as construction, automotive and manufacturing is increasing at a robust pace. This in turn is augmenting mining operations and activities globally. As cone crushers are indispensable machines used in mining sector for extractive metallurgy to crush and grind run-of-mine ore into finer size, the increasing mining activities are expected to drive market growth of cone crushers during the forecast period.

Porter's Analysis

Threat of new entrants: The cone crusher market requires high initial investments to set up manufacturing plants and R&D facilities. The market is dominated by few global players making it difficult for new players to enter.

Bargaining power of buyers: The buyers have moderate bargaining power due to the presence of several global manufacturers and product alternatives. However, switching costs make buyers dependent on few suppliers.

Bargaining power of suppliers: The suppliers of raw materials have low to moderate bargaining power as manufacturers can switch to alternative suppliers in case of price increase by any supplier.

Threat of new substitutes: There is a threat from new substitutes like impact crushers, vertical shaft impactor, and horizontal shaft impactor used for secondary and tertiary crushing.

Competitive rivalry: The market has high competitive rivalry due to a few large global players dominating the market. Players differentiate through product quality, durability, and service.

SWOT Analysis

Strength: High demand from construction and mining industries. Cone crushers offer consistent sized end products, high productivity, and stable operations.

Weakness: High installation and maintenance costs. Require frequent consumables replacement. Not suitable for crushing soft materials.

Opportunity: Growth in infrastructure development globally. Increasing need to reduce mining costs by optimizing production efficiency.

Threats: Economic slowdowns reducing demand. Stringent environmental regulations increasing production costs.

Key Takeaways

The global Cone Crusher Market Size was valued at US$ 1811.13 Mn in 2023 and is projected to reach US$ 3105.57 Mn by 2030, growing at a CAGR of 6.4% during the forecast period. The Asia Pacific region dominated with over 35% of the market share in 2023 due to high mining and infrastructure development activities in countries like China and India.

Regional analysis: The Asia Pacific region is expected to grow the fastest during the forecast periodowing to the rising mineral extraction and coal mining industries in China and India. China being the world's leading steel producer will continue dominating the cone crusher market in the region.

Key players: Key players operating in the cone crusher market are Tesab Engineering Ltd., Terex Corporation, ThyssenKrupp AG, Metso Corporation, FLSmidth & Co. AS, McCloskey Equipment, Keestrack NV, Westpro Machinery Inc., Puzzolana Machinery Fabricators LLP, Astec Industries Inc., and Sandvik AB. Tesab and Metso account for over 30% of the market share.

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