Global Cone Crusher Market Size

Cone Crusher Market Analysis

The Global Cone Crusher Market size is estimated at USD 1.86 billion in 2024, and is expected to reach USD 2.38 billion by 2029, growing at a CAGR of 5.10% during the forecast period (2024-2029).

The crushing and grinding requirement of industries, such as mining, construction, processing, and demolition, changed drastically in the last two decades, where crushers were primarily stationary equipment that was used to convert coarse materials to more elegant materials, and eventually, pass them onto the tertiary crushing equipment. Nowadays, the demand for mobile and portable crushers is observing significant growth.

• Industries that operate crushing equipment are focusing on lowering costs, increasing production, and becoming more energy-efficient, as crushing equipment is a primary reason behind increased energy consumption in these industries. For instance, ammunition consumes the most significant part of the energy used in mining operations, of about 30-70%. According to Thermo Fisher, grinding and crushing of ore are energy-intensive and account for about 3-5% of the world's power usage. Owing to this, various vendors in the market are increasingly offering solutions that are energy efficient and save costs. For example, Metso's new Lokotrack LT4MX mobile cone crusher is said to provide excellent energy efficiency with the direct v-belt drive.
• New cone crushers that operate with hydraulic hold-down clamping enable industries to crush at a higher capacity with increased power than ever before. The automatic control of cone crushers has maximized power draw and their throughput, owing to which vendors in the market are focusing on increasing the capacity of their offerings. For example, the Nordberg HP900 series cone crusher from Metso comes with a new lubrication system, improved kinematics, a raised pivot point, and increased power to offer a 15% increase in its capacity. The increased size provides increased production and output in the mining industries, where production capacity and throughput are vital.
• The application of cone crushers in construction work and road laying material is significantly rising. With the growing concept of recycling, current crushers can separate bitumen and aggregates for reuse as new asphalt. New asphalt stations can create a unique asphalt mix with up to 70% recycled material, and various businesses are deploying cone crushers, along with jaw crushers, to enhance the speed and capacity. For example, Veljekset Paupek, based in Tornio, Finland, adopted the Lokotrack LT200HP cone crusher and the Lokotrack LT106 jaw crushing plant to create a two-stage crushing process. This enabled it to crush an entire batch of 10,000 metric tons in just two weeks.
• In addition to this, the recent outbreak of COVID-19 significantly restricted the global mining and construction operations, with the industry facing a severe shortage of workforce and capital investment. Such developments are expected to influence the global demand for equipment in these industries, as enterprises are expected to either avoid or postpone their buying decisions during the year. Over the next two years, the mining and construction industries are expected to adopt a larger scale of automation to reduce the dependency on the workforce. Such developments may attract higher investment in cone crushers that are mobile and offer automated solutions. Overall, the demand is expected to rise during the forecast period.