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The crushing equipment is made up of metal surfaces that are capable of compressing materials, such as stones, quartzite, rocks, iron, etc. The stone crushing machines are used in various fields such as building materials, mining, metallurgy, highways, chemistry, railways, as well as continuous requirement from construction activities, such as highways, roads, canals, buildings, and bridges, etc. Growing construction activities, steady growth of economies as well as continuous development of roads and highways globally is expected to fuel the demand for stone crushing equipment during the forecast period. According to World Mining Data, the total mining production across the globe was accounted to be more than 16.5 billion metric tons in 2016, and the number is anticipated to increase significantly over the forecast period increasing the demand for the stone crushing equipment market.
Key Market Driver -
• Continuous development of the construction industry, globally • Increased attention on the artificial stone and sand manufacturing industry owing to depleting natural reserves
Key Market Restraint -
• High cost of stone crushing equipment as well as lack of skilled operators
There are many trends in the stone crusher equipment market which include, rising popularity for mobile cone crushers owing to its additional features allowing it to move anywhere and start working instantly. They also help to increase productivity at construction sites, owing to its flexibility. Additionally, the increasing demand for rental models of stone crushing equipment market, owing to high initial costs of stone crushing equipment is projected to boost the demand for the equipment, throughout the forecast period.
The key manufacturers are regularly involved in innovations and new product introduction strategies to gain a competitive advantage. Major players are also incorporating advanced technical features into the new products to deliver high performance & productivity across the application industries.
The key players in stone crushing equipment market include Terex Corporation, Komatsu Ltd., Caterpillar Inc., Joy Global Inc., Sandvik AB, Thyssenkrupp, Eagle Crusher Company Inc., BUCY International, IROCK Crusher, Astec Industries, etc.
The increasing number of high-rise structures in countries, such as the U.S. and Canada is projected to increase the demand for stone crushing machines in North America. The Middle East and Africa are also anticipated to register a substantial industry growth with upcoming projects related to the construction of skyscrapers in the Middle East countries such as UAE, Qatar, and Oman, etc.
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In Asia Pacific, an increasing government expenditure in developing economies including China and India for the development of roads and highways is expected to boost the stone crushing equipment market growth in the region. For instance, the Government of India has initiated a road development program for North East India, which includes upgradation of 4,000 km of roads with a budget of around USD 3.3 billion. Furthermore, various long-term & short-term projects undertaken by the public & private sectors of developing countries in Asia Pacific are expected to further contribute to the market growth. The rising mining activities in Asian economies has also resulted in the increased application of stone crushing equipment in the region.
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