05-Oct-2020 | Zion Market Research
The recently released report by Zion Market Research evaluates the global stone crushing equipment market and found it to be capitalized at more than USD 4.5 billion in 2018 and projected to develop at more than 7.9% CAGR during the forecast period of 2019–2025. The key participants in the global stone crushing equipment market consist of Sandvik AB, Terex Corporation, Thyssenkrupp, IROCK Crusher, Mesto Oyj, Eagle Crusher Company Inc., and Komatsu Ltd. These participants are actively making developments to hold a significant place in the market. To cite, a new PF series impact crusher has been developed by Star Machine that can squash substances below 500mm size. The compression strength of this crusher is under 360 Mpa and is typified by a long service life. PF impact crusher is utilized as a secondary crusher and is helpful in industries like sand making, metallurgy, road construction, and chemicals. It is among the key innovations in the global stone crushing equipment market as it is very undemanding to maintain and provides a steady performance.
Increasing Construction Activities To Spur The Demand For Stone Crushing Equipment
The factors influencing the growth of the global stone crushing equipment market is the considerable expansion in the construction activities due to the rising population and urbanization. Further, an increase in the mining activities has resulted in a rise in the demand for sophisticated stone crushers, thus boosting the growth of the market. A remarkable spur has been witnessed in the sand manufacturing industry in recent times because of exhausting natural sand reserves. As a result, there’s a rise in the stone crushers’ demand, thus accelerating the growth of the stone crushing equipment market. In addition, developments in the construction infrastructure resulting in an increase in the number of bridges and highways have caused market growth. Nevertheless, the high labor and electricity supply needed to manage stone crushers might hamper the growth of the market. Furthermore, rising environmental concerns as a result of the emissions during the crushing and screening activities are also expected to put off the market growth.
Jaw Crushing Equipment Likely To Observe Considerable Growth During The Forecast Period
The global stone crushing equipment market is bifurcated based on application, product, and region. Based on application, the market is divided into quarrying, mining, and recycling. Based on product, the market is categorized into jaw crusher, cone crusher, and impact crusher. Of these, the jaw crushing equipment is anticipated to expand at about 9.9% CAGR during the forecast period. Generally, it is utilized in numerous industry segments like metallurgy, mining, and construction, for squashing diverse substances like iron ore, copper ore, marbles, rocks, and granite.
Asia Pacific Anticipated To Dominate The Global Market Owing To Rising Investments
In 2018, the stone crushing equipment market in Asia Pacific was capitalized at around USD 1.9 billion and is projected to observe expansion taking into account the growing urbanization and escalating expenditure in the mining and infrastructure sectors. China has numerous current construction plans, comprising the Belt and Road Initiative with an expenditure of around USD 900 billion. Furthermore, several short-term and long-term projects commenced by the private and public sectors of India are also contributing to the growth of the stone crushing market.
Browse the full “Stone Crushing Equipment Market Product (Cone Crusher, Jaw Crusher, and Impact Crusher), End-user (Aggregate, Mining and Metallurgy, Construction): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/stone-crushing-equipment-market
The global stone crushing equipment market is segmented as follows:
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