Stone Crushing Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Stone Crushing Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The global stone-crushing equipment market was valued at USD 5.55 billion in 2021 and is expected to surpass a net valuation of USD 8.45 billion by 2027 end, registering a solid CAGR growth of 7.25% over the forecast period.

Due to the COVID-19 pandemic, many industries, including the construction industry, witnessed a slump in investment in 2020. The mining, construction, and other infrastructure and housing activities were halted as the virus spread across the globe. However, 2021 was marked as the year of transmission where the industries witnessed recovery with ongoing active government construction and mining projects. In addition, with housing projects elevated, demand for building materials including cement, stone chips, and sand provided momentum to the adoption of stone crushers at the project sites.

The construction and mining industry is highly dynamic, and numerous factors, such as the overall economy, budgets, and global economic scenario, are influencing the market’s growth. Volatility in these aspects affects the businesses of stone-crushing equipment OEMs, which will, in turn, affect the construction equipment demand. For instance, In November 2021, the US Congress passed a USD 1 trillion infrastructure spending bill. The infrastructure legislation proposes USD 550 million in new federal expenditure over the next eight years in the United States for the upgrade of roads and bridges, highways and to modernize the city transit systems and passenger rail networks.

Growing urbanization, increasing population, development of highways and infrastructure, increasing transportation, and growing mining activities will contribute to the growth of the stone-crushing equipment market. The global mining industry has been witnessing steady growth for the past few years, owing to a rise in mining exploration activities and the initiation of new mining projects in countries, such as Canada, the United States, Australia, India, Russia, and South Africa. Various players active in the market are launching their updated models with improved performance and capacity.

Considering these factors, demand for stone crushing equipment market is expected to witness high growth rate during the forecast period.

Key Market TrendsJaw Crusher is projected to witness the highest growth in the Market

Globally there are 65 key minerals are being utilized in producing their downstream products. Many of these minerals are available in the form of large stone pellets which are thus required to break down into small parts. This has however increased the demand for stone crusher equipment to breakdown stones into small usable pellets and powder sometimes.

There is an increase in demand for fewer emissions in stone crushing equipment mainly the jaw crusher. The jaw crusher is primarily employed in the cement industry, but its application is also in the non-metallic and mineral crushing fields in other industries with respect to other crusher equipment jaw crusher performance is comparatively more stable. It can perform well even in high pressure, and there is no requirement to add and subtract different process gaskets. Mining industries across the globe re closing deals for procurement of jaw crushers which are technologically driven to solve their modern challenges. Also, Various market participants are launching their enhanced and more advanced versions of the jaw crusher. For instance,

In August 2022, Kazakhmys Corporation LLC in Kazakhstan invested in Sandvik rock processing solutions’ UJ300 crushing unit for the underground copper mining operations in the country. In addition, Sandvik has witnessed the investment in its mobile jaw crusher, which has engaged more than 5 jaw crusher units under this investment order.

In February 2022, crushing contractor B&E International strategically invested in Metso’s latest mobile screening solutions amid the expanding building and other construction equipment demand in 2022. The equipment order has to be supplied during the Q1 2022 which comprises of a Lokotrack LT220D mobile crushing and Lokotrack LT120 mobile jaw crushing plant.

With ongoing developments. demand for jaw crusher under the stone crushing equipment segment is expected to remain high during the forecast period.

Asia Pacific is Expected to Grow at the Fastest Rate in the Market

One of the key factors in the growth of the Asia-Pacific stone crushing equipment market is due to the increased manufacturing units and rising industrialization in countries, such as China, India, and Japan, which are boosting the growth of the stone crushing equipment market.

China is also one of the major countries in the Asia-Pacific, with ample construction activities being supported by its growing economy. The country’s growth rate is high but is gradually moving toward moderate (as the population ages and the economy rebalances from investment to consumption, from manufacturing to services, and from external to internal demand). Despite the volatile growth rate in the real estate sector, significant developments in rail and road infrastructure by the Chinese government in order to withstand the demand stemming from the growing industrial and service sectors have resulted in significant growth in the Chinese construction industry in recent years.

Crushing has one of the biggest environmental impacts in mining and aggregate operations. It is also one of the most critical ones. The right crusher and parts selection greatly impact the whole crushing efficiency and economy. The government’s forefront has helped the crushing segment to flourish in India. The Supreme Court’s decision of revoking the ban on iron ore mining in Goa and setting up 20 million tons of cap on mining has also brought hopes for crushing and screening plant manufacturers in the region. India which is one of the fastest-growing construction markets in this region is expected to spend around USD 13 trillion in the construction industry by 2030.

Considering this ongoing development and the potential of the regions, demand for stone crushers in Asia-Pacific is expected to remain high during the forecast period.

Competitive Landscape

The global stone crushing equipment market is moderately fragmented, has a number of active local as well as global players. Some of the major players in the market are Astec Industries, Inc., Eagle Crusher Co., Inc., Metso Corporation, amongst others. The companies are expanding their presence by acquiring other market participants, launching new models, and tapping in new and unexplored markets. For instance,

• In July 2022, Metso Outotec signed a strategic agreement with Larsen & Toubro Limited in order to supply four Symons cone crushers for an iron ore crushing and screening plant which is located in National Mineral Development Corporation (NMDC) at Kirandul complex in Chhattisgarh, central India.

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• The market estimate (ME) sheet in Excel format
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