Stone Processing Machine Market Size, Share & COVID-19 Impact Analysis, By Product Type (Milling Machine, Cutting Machine, Edging Machine, Drilling Machine, Finishing Machine, and Others), By Types of Stone (Basalt, Granite, Sandstone, Limestone, Slate, Marble, and Others), By Application (Construction and Furniture), and Regional Forecast, 2023 – 2030

The global stone processing machine market size was valued at USD 7.56 billion in 2022. The market is projected to grow from USD 7.87 billion in 2023 to USD 11.45 billion by 2030, exhibiting a CAGR of 5.5% during the forecast period.

Stone processing equipment refers to a wide variety of equipment or machinery used for cutting, edging, drilling, polishing machines, and other related operations on natural stones or artificial stones, including granite, basalt sandstone, and others. These machines have revolutionized the stone industry by improving performance and precision in numerous applications, from uplifting the productivity of construction site activities to monument-making and indoor design.

The ability to develop intricate designs, measurable reduction in exertions costs, and decrement in wastage using CNC machines has been a major factor behind noteworthy procurement of stones in new infrastructure projects. With the developing call for custom-designed stone merchandise in architectural and home projects, stone processing equipment is pivotal in assembling those requirements. All the aforementioned factors can be considered as critical factors propelling the market growth at a considerable pace.

COVID-19 IMPACT

Curb on Industrial Manufacturing Operations Created an Operational Volatility in the Market

COVID-19 had a negative impact, pushing the manufacturing sector under challenging situations, also scarce labor availability due to lockdowns made market operations more vulnerable curtailing the market growth prospects. The supply side witnessed a curtailing of operations due to the closure of manufacturing plants and revised regulations dictating cross-border trade of non-essential products.

The complete breakdown of the supply chain operations of equipment at the start of the pandemic reduced improvement possibilities for the market within the first half of financial year 2020. However, vendors and stores utilized the available inventories and after the resumption of manufacturing operations post health emergency, the market registered astounding increment in growth projections. In the long term, COVID-19 had minimal impact on the marketplace's progression.

Stone Processing Machine Market Trends

Incorporation of Novel Technologies in Processing Machines to Drive Industry Growth

Most manufacturers are currently facing the severe challenge of new entrants in terms of product offerings in a cost-effective manner. In addition, these stakeholders are being challenged by their established peers in terms of product diversity and offerings integrated with decent standards of automation and incorporating innovative technologies.

To mitigate the adverse effects and try to reinforce and hold their positions in the market, most global manufacturers are investing in research and development operations with serious intent. These efforts aid these companies in developing advanced products and increasing their product diversity to maintain their commanding market positions.

Stone Processing Machine Market Growth Factors

Efforts for Infrastructure Development in Various Countries are Creating Favorable Conditions for Industry Expansion

Infrastructure development initiatives and heavy efforts toward rapid urbanization can be seen as a substantive factor supporting the market operations over the past decade. The same factor now has taken a driver's seat in developing economies and will contribute to market developments over the projection period. Urbanization and infrastructure improvement internationally has created a favorable environment for the demand of the various types of stones across the geographies. Furthermore, the trend of customization in structure and indoor layout fuels call for equipment that could intricately form end stones to fulfill unique layout requirements.

Moreover, introducing precise and atomized equipment with CNC and digitalization brings precision, reduces manufacturing time, and boosts productivity. Moreover, environmental issues inspire the improvement of sustainable stone processing strategies and equipment, aligning with inexperienced production practices. All the above-cited factors are set to play a critical role in the growing stone processing equipment marketplace.

RESTRAINING FACTORS

Strict Regulations Imposed by Environmental Authorities are Obstructing Market Operations

Many governments operating across diverse geographies are compelled to work towards sustainable ecological operations. They are taking necessary measures to curb the adverse effects of mining and quarrying operations on the environment. Further, governments also need to abide by the current standards set by international environmental agencies and regulatory bodies before granting permissions for new mining and quarrying operations. This limits the market operations, obstructing the uninterrupted supply of rocks to the crushing and processing facilities.

Moreover, increasing limitations and different policies in the post-pandemic era and volatile situations in Eastern Europe due to the Ukraine-Russia conflict have caused severe hindrance to cross-border trade. The regulations and route disruptions created a demand-supply gap between stone mining countries and countries with distinctive stone consumption in construction activities and furniture production.

Stone Processing Machine Market Segmentation Analysis

By Product Type Analysis

Cutting Segment is Expected to Lead the Market Owing to the Increasing Application of Stones in Construction Industry

Based on product type, the market for stone processing machines is sectioned across milling machine, cutting machine, edging machine, drilling machine, finishing machine, and others.

Cutting machines will hold a majority of the share in the global market. Most stones must go through cutting operations and are subjected to drilling to fasten with other stones or joiners. The requirement of cutting operations across infrastructure development sites and at furniture production facilities aids in spurring market development.

Edging and milling machines will also govern decent stone processing machine market share and are projected to witness steady growth prospects throughout the forecast period. The availability of a diverse product portfolio for these machines by numerous market players is attracting a large customer base towards these products.

By Types of Stone Analysis

Granite Dominants Market Share Due to Exceptional Strength and Superior Thermal Stability Standards

By types of stone, the market for stone processing machines has been classified into seven sub-segments: basalt, granite, sandstone, limestone, slate, marble, and others.

Granite type will collectively generate 65% of the global market share. The superior durability of Granite stones and significant compressive strength make these rocks suitable for application across construction works. Moreover, basalt stone possess compression strength of over 200 Mpa, which enable these rocks to be used across road construction, dam, and river wall, which require construction capable of containing massive strain on the construction. Thus factors provide a significant share for Basalt segment across the regions.

By Application Analysis

Substantial Investments in Infrastructure Developments Activities Across the Diverse Geographies is Anticipated to Uplift the Growth Projections

By application, the market for stone processing machines is divided into construction and furniture.

The construction segment is anticipated to hold a major share of the global market. Noteworthy rise in construction operations and efforts of government-backed authorities to uplift the infrastructure are cited as the key factors driving the growth of the global market.

REGIONAL INSIGHTS

In terms of region, we have categorized the market for stone processing machines across five distinct regions. The regions covered in the research report are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Regarding market share and growth projections, the Asia Pacific region is anticipated to dominate the market throughout the forecast period. The substantial presence of China-based players is one of the crucial factors propelling the global stone processing machine market growth. Moreover, increasing construction activities and efforts to uplift the public sector infrastructure across the developing countries in Southeast Asia and South Asia is another critical reason prompting steadfast operations of the market.

India to Take a Leap in Growth Projections Owing to Economic Stability Driven by Construction Activities

As of the recent GDP growth projections, India emerged as the fastest-growing economy and is currently operating with a comprehensive sense of stability compared to other major economies across the globe. This has encouraged investors for investing in real estate development and make keen efforts to participate in public sector infrastructure development activities across the country. The scenario has encouraged and opened opportunities for India's broad spectrum of construction sectors.

North America will also hold a sizable market share due to the extensive demand for stones across the U.S. Moreover, the region's growth has surmounted healthy growth projections owing to the highly developed cluster of stone-crushing facilities. Over the past decade, the U.S. has registered an unforeseen production of crushed stones. For instance, the U.S. has produced over 1,500 million metric tons of crushed stones.

The Europe market will also showcase a decent performance in the global market. Notable increase in mining operations and increasing procurement of different stones across countries in the regional market is expected to promote the development prospects at a stable pace. Germany and the U.K. are the countries estimated to spearhead market operations.

The Latin America market for stone processing machines is anticipated to hold a minimal share and will also grow sluggishly due to heavy dependency on foreign markets for its imports. Furthermore, volatility in the currency exchange rates and cash crunch of the economies in the post-pandemic era has a negative impact on the regional market.

List of Key Companies in Stone Processing Machine Market

Increasing Construction Activities and Emergence of New Market Entrants to Elevate Market Competition

The market for stone processing machine is a moderately fragmented market with the presence of diverse global players and the emergence of multiple regional players across prominent countries in diverse geographies. The increasing efforts of China-based market players and favorable government policies in the aforementioned country further cement the export-based market growth. In addition, the market players will strengthen the products' supply chain and strategically craft distribution strategies to expand their business. Participation of emerging players in the market and efforts made by established companies operating globally will create healthy competition in the market. Most of the developing economies are making unprecedented investments in the construction sector and are keen towards developing the infrastructure across their regions providing augmented market growth.

The companies are also trying to venture into partnerships or are working to break a deal for joint ventures and collaborations with some robotic companies or automation providers to create atomized and advanced processing machines and achieve numerous product launches by leveraging the technological expertise of partner entities. In a nutshell, the companies are trying to execute organic and inorganic strategies to create a loyal customer base and increase appeal for their stone processing machines in multiple geographic regions across the globe.

List of Key Companies Profiled:

• Keda Group (China)


• Biesse Group (Intermac) (Italy)


• Breton (Italy)


• Thibaut (France)


• Pedrini (Italy)


• Simec (Italy)


• BMR SpA (Italy)


• Park Industry (China)


• Shandong Huaxing (China)


• DONATONI MACCHINE (Italy)

KEY INDUSTRY DEVELOPMENTS: 

• June 2023: KEDA Industrial Group Co. Ltd. has recently unveiled its intelligent deep processing production lines at China Xiamen International Stone Fair. The company aims to uplift the standards of the digital and intelligent stone processing operations with its recent innovation.


• November 2022: mtp GRUPA, an international trade fair organizer, arranged a stone industry fair in Poland to bring manufacturers and distributors of stone processing equipment and natural stone distributors on the same forum. The exhibition would facilitate a more seamless exchange among multiple stakeholders in the stone machining industry, expediting market growth through an inorganic marketing strategy.


• September 2022: Marmomac, an annual international stone exhibition, conducted the most extensive stone exhibition after recovery from the pandemic. The exhibition reconnected the manufacturers, suppliers, and consumers of stone processing machines and helped the industry to reshape and recover in the post-pandemic era.


• May 2022: The Ministry of Mines and Petroleum, governed by the current Afghan government, released the order to bid and extract seven different large-scale stone mines in the country. The orders would increase the demand for stone processing machines and uplift South Asia's stone processing market.


• September 2021: LPE Group, which operates as a tile manufacturer specifically in the market of U.K., deployed BACA robots at their worktop production. The efforts would elevate the automation standards at their facility.

REPORT COVERAGE

The report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product type, types of stone, and leading applications of the product. Besides, the report offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that contributed to the growth of the market in recent years.

Report Scope & Segmentation