Preliminary research of Fairfield Market Research indicates a promising growth outlook for global stone crushing equipment market during the course of next few years.
2021 Upheld Stone Crushing Equipment Market Post-pandemic
Construction was one of many industries, including many others, to experience a decline in investment in 2020 due to COVID-19. Mining, construction, and other infrastructure and housing activities were stopped as the virus spread worldwide. However, 2021 was deemed the year of transmission when the economy resurged thanks to aggressive government mining and construction projects that were still running. The increased demand for building materials like cement, stone chips, and sand, and the increase in housing developments gave momentum to installing stone crushers at the project sites. This is expected to drive the momentum of global stone crushing equipment market. The budgets, general economy, and state of the global economy are just a few of the many variables influencing the construction and mining business development. The construction equipment sector is impacted by these factors' volatility, which also impacts the OEMs of stone crushing equipment. For instance, the US Congress approved a US$1 Tn spending measure for infrastructure in November 2021. The infrastructure legislation calls for an additional US$550 Mn in federal spending over the following eight years in the US for the modernization of city transit systems, passenger rail networks, roads, bridges, and other infrastructure.
The stone crushing equipment market will expand due to growing urbanization, population growth, the construction of highways and other infrastructure, increased transportation, and expanding mining operations. A surge in mining exploration operations and the start of new mining projects in nations like Canada, the United States, Australia, India, Russia, and South Africa are two factors that have contributed to the global mining industry's consistent expansion during the past several years. Several industry participants are releasing new product models with better performance and capacity, which would in turn boost the market revenue.
Stone Crushing Equipment Market: COVID-19 Impact
Due to the government-imposed lockdown and poor demand from the building and mining industries, the market for stone crusher equipment is anticipated to decline in 2020. Due to the protracted lockdown in many developed nations, the COVID-19 pandemic has halted the manufacture of several items in stone crushing machinery. The market for stone crushing equipment has been substantially affected by this over the past several months, which is anticipated to persist in 2020. In the first quartaer of 2020, COVID-19 influenced machinery and equipment sales, which is projected to harm the growth of stone crushing equipment market.
Before the coronavirus outbreak, China, the US, Germany, Italy, the UK, and other large manufacturing nations-all of which are adversely affected by the virus' spread—were the main sources of demand for equipment and machinery. The potential impact of the lockdown is also uncertain at the moment, and a company's ability to recover financially depends entirely on its cash reserves. Equipment and machinery firms can only sustain a complete lockdown for a limited period before the participants change their investment strategies. To deal with immediate urgencies and set up new methods of working after COVID-19 infection instances start to decline, makers of equipment and machinery must concentrate on safeguarding their employees, operations, and supply chains.
Stone Crushing Equipment Market Thrives on the Back of Construction Industry’s Consistent Growth
Due to urbanization and the rising population, there has been substantial improvement in the construction industry. This is driving the stone crushing equipment sales as a major component. The demand for modern stone crushers has increased due to increased mining activities and accelerated market expansion. Due to the diminishing availability of natural sand, the sand manufacturing business has experienced enormous growth recently. Since there is a greater need for stone crushers. As a result, the market for stone crushing equipment is expanding faster. Additionally, improvements in the infrastructure for the building have increased the number of highways and bridges, which supports the value growth of stone crushing equipment market.
Stone Crushing Equipment Market Rises up as Adoption Surges for Building Waste Recycling Application
The production of aggregates, the recycling of construction materials, quarrying, and mining activities are just a few examples of the many applications of stone crushing equipment, which majorly drive the sales in global stone crushing equipment market. There are several stone crushers, including gyratory, cone, jaw, and impact crushers. The powerful machinery known as jaw crushers uses compressive forces to break stones. The fixed jaw and the moveable jaw are parts of the jaw crusher. Granite, copper, iron, and other ores are broken down into fine aggregates and particles using a jaw crusher. The jaw crusher has several uses, including in the cement industry, heavy industry, fertilizer industry, mines, and minerals. Using huge ores, stone crushing machinery is widely utilized as a preferred mining equipment to produce important geological minerals. The construction sector uses machinery for stone crushing to recycle building waste. The recycling of construction waste into stone dust, which is then used as a raw material in construction applications, is accomplished with the aid of stone crushing equipment. Sand can be replaced by stone dust, which is regarded as a fine aggregate. Additionally, stone crushers can provide aggregates and stones of various sizes for construction projects such as building roads, bridges, canals, and other structures.
Stone Crushing Equipment Market Faces a Challenge in Form of Stringent Regulations Regarding Environment Protection
Construction projects, bridges, canals, and other demand centers necessitate the placement of stone crusher machinery nearby. Because these machines generate a lot of noise pollution and produce airborne dust particles, operators are forced to locate their plants outside of urban areas, raising transportation costs. Other factors limiting the progression of stone crushing equipment market include the need for a large amount of manpower for operation, the enormous amount of electricity consumed, and the exorbitant cost of stone crushing equipment.
Jaw Crushers Sought-after in Stone Crushing Equipment Market
To produce their downstream products, 65 essential minerals are used globally. Many of these minerals come in the form of huge stone pellets that must be broken down into smaller pieces to be used. The need for machinery to smash stones into sometimes-useful little pellets and powder has developed as a result. The need for stone crushing equipment, particularly the jaw crusher, with fewer emissions is rising. The jaw crusher is largely used in the cement sector compared to other crusher equipment. Still, it also has applications in other industries' non-metallic and mineral-crushing domains. The performance of a jaw crusher has been consistently good in the stone crushing equipment market. There is no need to add and remove various process gaskets since they can operate effectively under high pressure. Mining businesses worldwide are concluding agreements to buy technologically advanced jaw crushers to address their current issues.
Additionally, several industry players are introducing improved and more sophisticated jaw crusher models. For instance, In August 2022, For its underground mining activities for copper extraction, Kazakhstan's Kazakhmys Corporation LLC purchased a Sandvik rock processing solutions UJ300 crusher plant. Sandvik has also seen investment in its mobile jaw crusher, which has hired more than five jaw crusher units as part of this investment order. In February 2022, The need for building and other construction equipment is expected to increase 2022; therefore, crusher contractor B&E International made a strategic investment in Metso's newest mobile screening solutions. The Lokotrack LT220D mobile crusher and Lokotrack LT120 mobile jaw crushing plant are the pieces of equipment order that must be delivered during the first quarter of 2022. The demand for jaw crushers within the segment of stone crushing equipment market is anticipated to remain high during the forecast period due to ongoing developments.
Quarrying Industry’s Expansion Boosts Stone Crushing Equipment Market
The quarrying, mining, recycling, and other categories make up the stone crushing equipment market. Due to increased quarrying activities worldwide, particularly in North America's developed nations, the quarrying industry will experience tremendous expansion. The building industry's significant domestic demand for crushed stone is the cause of the revenue-generating. Because certain regions' downstream construction industries are still recovering, mining is anticipated to develop.
Asia Pacific’s Lead in Stone Crushing Equipment Market Intact, Manufacturing Activity Heightens
Increased manufacturing facilities and growing industrialization in nations like China, India, and Japan are two major factors driving the growth of the Asia Pacific market. These nations are also boosting the revenue of stone crushing equipment market. One of the key nations in the Asia Pacific is China, which has a large building industry supported by a burgeoning economy. Although the nation's growth rate is exceptional, it is gradually reducing to moderate (as the population ages and the economy rebalances from investment to consumption, manufacturing to services, and external to internal demand). Despite the variable growth rate in the real estate market, the Chinese government has made significant investments in rail and road infrastructure to meet the demand generated by the expanding industrial and service sectors. As a result, the Chinese construction industry has seen significant growth in recent years, despite the real estate industry's erratic growth rate.
In mining and aggregate industries, crushing has one of the most significant environmental effects. Additionally, it is one of the most important ones. The choice of the proper crusher and parts significantly impacts the overall economy and efficiency of crushing. The government has aided the development of the crushing industry in India. The Supreme Court's ruling lifting the prohibition on iron ore mining in Goa and establishing a 20 million tonne quota on mining has also given makers of crushing and screening plants in the area cause for optimism. By 2030, the construction sector in India, one of the fastest-growing countries in this region, is anticipated to spend over US$13 Tn. Given this ongoing growth and the potential of the areas, demand for stone crushers is expected to increase across the region, which would in turn influence the dynamics of stone crushing equipment market across the region.
Global Stone Crushing Equipment Market: Competitive Landscape
A few of the major players in the global stone crushing equipment market include Astec Industries, Eagle Crusher Company Inc., Global Crushers, IROCK Crusher, Komatsu Ltd., McLanahan Corporation, Mesto Oyj, Mormak Equipment Inc., Sandvik AB, Shibang Industry & Technology Group Co. Ltd., Superior Industries, Inc., Terex Corporation, Thyssenkrupp, Triaso, SA, and Zhengzhou Yifan Machinery Co. Ltd.
Recent Notable Developments
Regional Classification of Global Stone Crushing Equipment Market Can be Given as Below:
Middle East and Africa
*Regions and countries are subject to change based on data availability.
Key Elements Included In The Study: Global Stone Crushing Equipment Market
Post Sale Support, Research Updates & Offerings
We value the trust shown by our customers in Fairfield Market Research. We support our clients through our post sale support, research updates and offerings.
Under uncertainty, traditional approaches to strategic planning can be downright dangerous. True ambiguity is no basis to forecast the future – degree of risk, the magnitude of circumstances, conditions and consequences are not known or unpredictable. To avoid dangerous binary views of uncertainty; strategic posture, moves and actions through market research is the best bet.Read more