The global stone crushing equipment market is anticipated to register a CAGR of about 8% during the forecast period (2020 - 2025).
Key Highlights
- Growing urbanization, increasing population, development of highways and infrastructure, increasing transportation, growing mining activities will contribute to the growth of the stone crushing equipment market.
- The global mining industry has been witnessing steady growth for the past few years, owing to a rise in mining exploration activities and initiation of new mining projects in countries, such as Canada, the United States, Australia, India, Russia, and South Africa.
- Various players active in the market are launching their updated models with improved performance and capacity. For instance, in May 2020, Metso’s launched Nordberg HP900 cone crusher, HP900 is an upgrade to the HP800 cone crusher with 15% more capacity than HP800.
Key Market Trends
Jaw Crusher is projected to witness the highest growth in the Market
There is an increase in demand for fewer emissions in stone crushing equipment mainly the jaw crusher. The jaw crusher primarily employed in the cement industry, but its application is also in the non-metallic and mineral crushing fields in other industries With respect to other crusher equipment jaw crusher performance is comparatively more stable. It can perform well even in high pressure, and there is no requirement to add and subtract different process gaskets. Also, jaw crusher is getting new updates such as hybrid drives such as Keestrackelectric drives solutions with transport weights up to 60 tons. Various market participants are launching their enhanced and more advanced versions of the jaw crusher. For instance,
In 2019, Powerscreen launches Premiertrak330 jaw crusher, it utilizes a 1000mm x 600mm jaw chamber and can produce up to 280tonnes/hour of crushed material. It can be used in a range of applications including aggregates, recycling, and mining. That has the feature of low engine speed that improves fuel efficiency and offers lesser noise emissions while working in urban and restricted areas.
In 2018, Minprovise has launched a new jaw crusher the RXJ-Series. Itis equipped with a redesigned crushing chamber and new set adjusting device and manufactured EarthTechnica a Japanese company, which is a subsidiary of, Kawasaki Heavy Industries.
Asia Pacific is Expected to grow at the fastest rate in the Market
One of the key factors of the growth of the Asia-Pacific stone crushing equipment market is due to the increased manufacturing units and rising industrialization in countries, such as China, India, and Japan, are boosting the growth of the stone crushing equipment market.
India which is one of the fastest-growing construction markets in this region is expected to spend around USD 13 trillion in the construction industry by 2030. The country’s rapidly expanding population is generating significant demand for housing projects, and also there is an increase in the mining and construction industry. The focus on improving infrastructure to boost the economic position is also adding to the market opportunity in the region.
On the other hand, various global players are entering the region for more opportunities. For instance
In 2019, Metso Corporation announced that it is set to acquire the remaining 25% share from its joint venture with Shaorui Heavy Industries Ltd, a Chinese manufacturer of crushing and screening equipment by the end of 2019.
In 2019, Metso’s Shaoruilaunched their range of mobile crushing and screening equipment for the price mid-market segment. The new range will be produced by Shaorui Heavy Industries Ltd. in Shaoguan, China.
Competitive Landscape
The global stone crushing equipment market is moderately fragmented, has a number of active local as well as global players. Some of the major players in the market are Astec Industries, Inc., Eagle Crusher Co., Inc., Metso Corporation, amongst others. The companies are expanding their presence by acquiring other market participants, launching new models, tapping in new and unexplored markets. For instance,
- In 2019, Astec Industries, Inc., announced that it is intended to sell its subsidiary GEFCO, Inc. GEFCO industries produce various drilling equipment for water wells, geothermal wells, and cathodic protection, and other applications.
- In 2019, Eagle Crusher Co., Inc. added Stone Products, Inc. to its list of U.S. distributors. After the inclusion company will sell, refurbishes, and services all the products of Eagle Crusher crushing and screening equipment for the recycle concrete, asphalt, aggregate, and sand and gravel industry.
- In 2019, Dragon Equipment the United Kingdom based company has developed a new crusher named CR300 crusher in collaboration with Briggs & Stratton. This CR300 is powered by Vanguard 400, 14HP petrol engine.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
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