QY Research has released a new publication on the global cone crushers market, titled “Global Cone Crushers Market Research Report 2018.” In this report, the market is expected to reach a consumption volume of 4,653 units by the end of 2023, increasing from a 3,549 units obtained in 2017, at a 4.62% annual growth rate.
Global economy and downstream industries are the two chief factors that impact the consumption volume.
The global cone crushers market is envisaged to witness the entry of new investors in the coming years. Investors are foreseen to stay optimistic about the growth of the market because of the demand for high-end products and increasing awareness of consumers. This could be despite the presence of brand effect problems and high competition in the market.
Global Cone Crushers Market: Drivers and Restraints
Favorable factors such as low cost and high reliability are contributing to the growth of the global cone crushers market. Besides the regular end users of cone crushers, there could be decent demand in other industry verticals, viz. railway construction and cement mill.
However, consumer preference for rental cone crushers and declining growth of the mining industry in some countries such as India are foretold to arrest the market growth.
Nonetheless, rapid urbanization and the benefit of low transportation cost could push the global cone crushers market. High investment in construction and government policies that encourage the development of new roads are predicted to support the demand in the market.
Global Cone Crushers Market: Forecast by Production and Application
By product, the global cone crushers market is segmented into diesel engine and electric motor cone crushers.
On the basis of application, the global cone crushers market is divided into construction, aggregate, and mining industries. Among these, the construction industry achieved the highest sales in the market. It accounted for a sales market share of 61.94% in 2017. In the same year, the mining industry collected a share of 38.06% in terms of sales.
Global Cone Crushers Market: Forecast by Region
Investors are advised to focus on Brazil, China, India, and other emerging economies as they are prognosticated to play a significant role in the development of the global cone crushers market. In 2017, Asia Pacific was the largest market for cone crushers, securing about 31.83% share. North America and Europe treaded upon the heels of Asia Pacific in the same year as they accounted for respective shares of 18.96% and 23.59%.
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Global Cone Crushers Market: Competitive Analysis
Manufacturers looking to cement a strong position in the global cone crushers market are advised to focus on brand establishment, innovation of manufacturing equipment, core technology enhancement, and development of market mechanism.
The global cone crushers market is prophesied to exhibit low concentration. Compared to other high-tech equipment, cone crushers are manufactured using more advanced technology.
Some companies operating in the global cone crushers market are popular for their product performance and related services. Market leaders such as Terex, Sandvik, and Metso have secured a prime position in the industry due to their higher technology status and market share.
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