Growth of the cone crushers market is majorly driven by rise in industrialization and urbanization in developing countries.
PORTLAND, OR, UNITES STATES, March 7, 2022 /
EINPresswire.com/ -- According to a recent report published by Allied Market Research, titled, 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. 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.
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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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.
The report segments the global cone crusher market on the basis of end-user industry, sales type, mobility, and region.
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.
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By Power Source:
ELECTRIC MOTOR
DIESEL ENGINE
Market By Application:
Mining
Construction
Aggregate
Demolition
Environmental
Others
Key Findings Of The Study
By end-user industry, the mining segment was the highest revenue contributor in 2020.
On the basis of mobility, the portable-tracked mounted segment was the highest revenue contributor in 2020.
By end-user industry, the automotive segment dominated the market in 2020.
Depending on sales type, the new equipment sales segment acquired the leading position in 2020.
Asia-Pacific generated the highest revenue in 2020.
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