EIN Presswire

Cone Crushers Market Growing at a CAGR of 5.5% to Reach $2,972.5 Million by 2030

The major driving factor of cone crushers market is increase in government expenditures for infrastructural development such as improvement of roads and bridges

PORTLAND, OR, UNITED STATES, November 1, 2021 /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.

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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.

Moreover, lack of skilled labor in developed countries is a major problem, which is easily tackled by using cone crushers. However, cone crushers are construction equipment that are expensive compared to labor cost in countries such as India and Brazil. Moreover, use of alternative eco-friendly material instead of concrete has led to decrease in demand for cone crushers in the market.

Furthermore, outbreak of the COVID-19 has led to halt in logistic and manufacturing activities across the globe, which, in turn, has led to interruption of supply chain, thereby hindering growth of the market. However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities.

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Top 10 Key Market Players

Metso Corporation
Westpro Machinery Inc.
Terex
Sandvik
Global Mining Crusher
Sky Machinery
Telsmith
ThyssenKrupp AG,
FLSmidth & Co. A/S
Puzzolana

Key Market Segments

By Power Source

ELECTRIC MOTOR
DIESEL ENGINE

By Application

Mining
Construction
Aggregate
Demolition
Environmental
Others

By Geography

North America
Europe
Asia-Pacific
LAMEA

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David Correa
Allied Analytics LLP
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