Stone crushing equipment is located near large construction projects on the outskirts of the city, where it is required at a larger scale. Manufacturers are continuously focusing on technological advancements in the machinery to fulfill the mandatory standards for emission reduction.
Mobile cone crusher is an innovation that has gained prominence in the stone crushing equipment market recently. It is equipped with mobility feature and can move anywhere and start working instantly. This equipment meets customers’ different product requirements as it is flexible and easily adaptable to other machines. The mobile cone crusher finds applications in various areas such as mineral ore and rock stone crushing.
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Stone Crushing Equipment Market size is anticipated to grow at a significant rate from 2017 to 2024. High adoption of this machinery across various areas, such as mining, construction & building, highways, railways, and metallurgy, will spur the industry growth over the forecast time span. Increasing construction activities across the globe due to rising urbanization have resulted in the increased production of this machinery, positively impacting the industry. The ability of this equipment to produce crushed stones of varied sizes is likely to induce immense potential to the stone crushing equipment market size till 2024.
North America Stone Crushing Equipment Market is anticipated to rise owing to increasing demand from commercial and residential construction activities coupled with rising expenditure on road and highway construction across the region. The presence of established players will give an edge to stone crushing equipment market growth in the region.
The machine operations require a large workforce. Lack of skilled labor may act as a challenge for the stone crushing equipment market players over the forecast time span. Rising prices of crushing equipment across the globe will further hamper the industry growth. High initial investments on the machinery will also have a negative impact on the industry players. Fugitive emissions during mining (excavation, blasting, and drilling), screening, and crushing operations will pose a threat to the industry growth till 2024. Various governments have set several standards for emission reduction from this machinery.
Asia Pacific will hold a significant share owing to increasing infrastructure development activities in emerging economies including China and India. Moreover, the rising number of industry players in the region will contribute to the regional growth.
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By application, the stone crushing equipment market is classified into quarrying, mining, recycling, and others. Quarrying will witness a significant growth owing to the rising quarrying activities across the globe, especially in the developed countries of North America. The revenue generation is attributed to heavy domestic demand for crushed stone by the construction industry. Mining is expected to grow owing to continued recovery of downstream construction industries in some regions.
Metso Oyj, Terex Corporation, Joy Global, CNH Global N.V., Caterpillar, Inc., BUCY International, and Sandvik AB are among the notable players in the stone crushing equipment market. Industry players are focusing on new product launches and regular innovations to gain a competitive edge and gain a foothold in the industry. For instance, in August 2017, Terex Corporation launched C-1540 mobile cone crusher that offers significant reduction ratios with high output capacity.
Similarly, in March 2017, Metso launched its MX4 cone crusher that is equipped with features that include patented multi-action crushing technology that wear compensation and adjustment of under load setting easier than the traditional methods. These product launches help the stone crushing equipment market players to diversify their product line and increase their customer base.