Global Stone Crushing Equipment Market
The GMI Research forecasts that the Stone Crushing Equipment Market is witnessing an upsurge in demand over the forecast period. This is mainly due to rapid urbanization and their ability to lower the size and alter the shape of raw materials.
Introduction of the Stone Crushing Equipment Market:
Stone crushing equipment is referred to a machine employed for crushing, grinding stone or ores, reducing the size, and changing the shape of the raw material mix by breaking stones into small pieces. The equipment is made up of metal surfaces and they function by applying compressive strength to the materials including rocks, stones, quartzite, and iron.
Key Players of the Global Stone Crushing Equipment Market:
- Eagle Crusher Company, Inc.
- IROCK Crusher
- Komatsu Ltd
- Terex Corporation
- Molson Group
- Metso Corporation
- Astec Industries, Inc.
- Thyssenkrupp AG
- CNH Global N.V.
- Caterpillar Inc.
- McCloskey International
- Sandvik AB
Stone Crushing Equipment Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
One of the prominent drivers supplementing the growth of the global stone crushing equipment market includes the augmenting application of these tools to reduce the size of stones and rocks across various fields such as recycling of construction material, mining operations, aggregating production, and metallurgy. Also, their surging demand from the construction activities, which include highways, canals, bridges, and roads, will further strengthen the stone crushing equipment market size. In addition, the accelerating urban population, ongoing expansion in the construction sector, and consequential increase in mining activities throughout the world have supplemented the stone crushing equipment market share. Furthermore, the exhaustion of marine reserves of natural sand and stone has raised the demand of the artificial stone and sand manufacturing industry, thereby promoting market growth. However, the rising prices of this equipment will hamper the market growth.
End-Use Industry Segment Drivers
Based on end-use industry, mining is contemplated to have the highest market share in the market over the forecast period due to their growing utilization to crush bulk and heavy stones into various sizes efficiently and reliably. In addition, the soaring mining activities and their fuelling demand in processing operations will amplify the market growth.
Type Segment Drivers
Based on type, the market is segmented into the jaw, cone, and impact crusher. Amongst which, the jaw crusher is projected to witness a faster CAGR during the forecast period. This is primarily attributed to their extensive application in mining and quarrying activities to crush various types of materials, including rocks, marbles, iron ore, granite, and copper ore. Additionally, cost-efficiency, ease, and less maintenance compared to the other machines will further bolster the market growth.
Regional Drivers
Based on the regional coverage, Asia-Pacific is predicted to lead the market over the forecast period. This is mainly due to the expanding quarrying and mining activities. Additionally, developing nations, including China, Japan, India, and South Korea, along with the substantial extension in the construction industry, will drive the market growth. On the other hand, North America is expected to expand at a higher CAGR during the forecast period owing to the aggravating investment in the infrastructure industry. Moreover, swift economic development, enhanced standard of living, and a growing number of construction activities, especially across the US and Canada, are further paving the way for market growth.
Stone Crushing Equipment Market Segmentation:
Segmentation by Type
- Jaw Crusher
- Cone Crusher
- Impact Crusher
- Others
Segmentation by End-Use Industry
- Mining
- Quarrying
- Recycling
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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