First publishedon www.AggBusiness.com
Global mobile cone crushers market to be worth US$1bn by 2026
The growing use of rock crushers in various sectors such as mining, quarrying, highways, railways and commercial and residential building infrastructure is anticipated to increase the value of the global mobile cone crushers market from US$900mn in 2019 to US$1bn in 2026.
The rise in mobile cone crusher demand is predicted in Global Mobile Cone Crushers Market Professional Survey Report 2019, a new study by Straits Research, a leading business market intelligence consultancy. It equates to a CAGR (compound annual growth rate) of over 4.5% over the analysed period.
Emerging economies in Asia Pacific, Latin America, the Middle East, and Africa are likely to act as tailwinds for the mobile cone crushers market, according to Straits Research.
The new study outlines how mobile cone crushers have fixed and movable cones as components. One of the primary differences between a jaw crusher and cone crusher is that the former utilises both the cones to grind rocks and ore into smaller pieces and, as thus, plays a crucial role in the construction industry. Mobile cone crushers reduce large solid masses of raw materials into smaller masses so that they can be transformed from waste materials into recyclable or disposable materials. Straits Research notes that mobile cone crushers are “likely to be a viable alternative for fixed cone crushing plants in mining sites, which require faster production and transportation of raw materials.”
The study continues: “Equipment used in mining and extraction industries have now been using data analytics in a bid to reduce operational costs and streamline extraction and crushing processes. The integration of big data analytics has aided in improving worker safety, smarter equipment procurement, and smart collaborations. Technological advancements such as these will accelerate the adoption of mobile cone crushers, leading to the growth of the market. However, stringent government regulations with regards to mining policies, increasing protectionist views, global trade wars, and the looming economic recession are likely to restrict the growth of this market to a certain extent.”
Straits Research highlights how the mobile cone crusher industry is fragmented in nature due to the presence of numerous major industrial machinery and construction manufacturers across the globe. The consultancy notes that leading companies in this area of the aggregates production market include Sandvik, Metso, McCloskey International, Anaconda and Astec Industries.
The Straits Research study adds: “To expand business reach, industry participants are adopting new product development, partnerships and mergers and acquisitions along with expanding their distribution network to cater to a large global customer base. The industry is witnessing a rental models’ trend owing to high cost of these equipment. This offers benefits such as avoiding the initial purchase cost along with ensuring maintenance and depreciation costs.”
For more information on the study and to purchase the full report visit https://www.reportsmonitor.com/report/663070/Mobile-Cone-Crushers-Market