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Stone Crushing Equipment Market size is anticipated to grow at a significant rate from 2017 to 2024. High adoption of this machinery across various areas, such as mining, construction & building, highways, railways, and metallurgy, will spur the industry growth over the forecast time span. Increasing construction activities across the globe due to rising urbanization have resulted in the increased production of this machinery, positively impacting the industry. The ability of this equipment to produce crushed stones of varied sizes is likely to induce immense potential to the stone crushing equipment market size till 2024.
The machine operations require a large workforce. Lack of skilled labor may act as a challenge for the stone crushing equipment market players over the forecast time span. Rising prices of crushing equipment across the globe will further hamper the industry growth. High initial investments on the machinery will also have a negative impact on the industry players. Fugitive emissions during mining (excavation, blasting, and drilling), screening, and crushing operations will pose a threat to the industry growth till 2024. Various governments have set several standards for emission reduction from this machinery.
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Fugitive dust emissions from the stone crushing equipment can be hazardous to workers as well as the population in the vicinity. These emissions adversely impact the visibility, hamper aesthetics of the area, and reduce vegetation growth. The enforcement of stringent regulations, especially in Asia Pacific has forced the manufacturers to develop the machinery that complies with these regulations.
For instance, In India, Gujarat Pollution Control Board (GPCB) has mandated a few environmental guidelines for stone crushing units. A few of them include suppression cum dust containment system for the equipment, wind breaking wall construction especially at crushing place & charging hopper, and regular ground wetting within the premises.
Based on the type, stone crushing equipment market is segmented into cone crusher, impact crusher, and jaw crusher. Jaw crusher is anticipated to rise owing to its heavy demand across the industry in the quarrying and mining activities. Wide usage across various applications including demolition and industrial construction will offer immense potential to cone crushers market size till 2024. Its benefits, such as hydraulic adjustment, durability, and cost effectiveness, will further attribute to the high revenue generation. Provision of operational advantages to industries will also help in escalating the growth till 2024.
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Metso Oyj, Terex Corporation, Joy Global, CNH Global N.V., Caterpillar, Inc., BUCY International, and Sandvik AB are among the notable players in the stone crushing equipment market. Industry players are focusing on new product launches and regular innovations to gain a competitive edge and gain a foothold in the industry. For instance, in August 2017, Terex Corporation launched C-1540 mobile cone crusher that offers significant reduction ratios with high output capacity. Similarly, in March 2017, Metso launched its MX4 cone crusher that is equipped with features that include patented multi-action crushing technology that wear compensation and adjustment of under load setting easier than the traditional methods. These product launches help the stone crushing equipment market players to diversify their product line and increase their customer base.
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