The crusher market in Asia-Pacific is expected to witness significant growth at a CAGR of 5.1% during the forecast period (2022 - 2030): MRFR

Pune, India, July 2022, MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global Crusher Market.

Overview

The global crusher market is projected to grow at a 5.1% CAGR during the forecast period, 2022 - 2030.

Regional Analysis

The geographic analysis of the crusher market has been conducted for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

Despite challenges such as the rising environmental concerns regarding water use and water source contamination, the mining sector in North America witnessed significant growth in 2022 due to the rising commodity prices. The prices of gold and silver are likely to grow as investors prefer secure investments. Furthermore, the demand for copper, lead, tin, and zinc has significantly grown, owing to supply disruptions and increased demand. North America is a region, which comprises two of the world's largest mining countries, the US and Canada. The high demand for base and precious metals is driving the growth of the mineral and metal mining industry in North America. The growing mining industry in North America is expected to propel the demand for crushers in the region.

Consumption of aggregates, industrial minerals, and metals in Europe is growing at decent rate over the few years. at the present, Europe is almost self-sufficient in producing many industrial minerals and aggregates. However, it is a significant net-importer of most metals and metal ores. The extraction and supply of minerals will continue to play a crucial role in the European economy and society as it has done for previous years. Minerals are used in everyday life in many vital applications such as construction materials (crushed rock, sand, and gravel) for infrastructure, buildings, and roads, and industrial purposes (e.g., metals, lime, kaolin, silica sand, and talc) in the production of steel, cars, computers, medicines, human and animal foodstuffs, fertilizers, etc. All these factors are enhancing the market growth in Europe.

Asia-Pacific accounted for the largest market share in 2022 with a market value of USD 1,820.4 million; the market is expected to register a CAGR of 5.1% during the forecast period. Asia-Pacific comprises more than half of the production of minerals. China is the world's leading producer of coal, gold, and most rare earth minerals. China is the largest gold producer in the world, with much of the historical and current production coming from the Jiaodong Peninsula in Shandong province, which is host to many gold resources. In 2018, the five largest Chinese gold producers controlled about 30% of local mined production, which has grown an average of 4% per year over the last five years. All these factors are propelling the crusher market in Asia-Pacific region.

Statistics published by the World Mining Data 2019 indicate that 5.7% of total global mining production in that year originated from South America (compared with, for example, 5.5% from Africa; although, 58.9% of the global production originated from Asia). The trend in South America, though, is for increased production. During the period 2022 - 2030, production increased by 13.2%. Mining companies have multiple options when it comes to investing in new mining projects. The long-term nature of the development of any kind of project makes confidence and stability in local mining policy and the regulatory environment an important consideration in any new investment decision. All these factors are propelling the market growth in the region.

The opportunities for infrastructure, resources, and mining companies are impressive. However, many obstacles are also there. As part of the quest to capitalize & diversify upon their mineral-rich countries, governments are realizing the need for modern, and transparent regulatory frameworks. most of the countries in the MEA have either recently introduced or are working on new mining laws that seek to encourage investment. The GCC countries in the Middle East continue developing a unified regulatory system in a number of areas, including mining. This is also projected to show decent growth in the crusher market in the region.

Competitive Analysis

The key players of the Crusher market include Metso Corporation, Sandvik Ab, Terex Corporation, Thyssenkrupp, Flsmidth, Hartl Crusher, Irock Crushers, Mclanahan, Lippmann-Milwaukee, Inc., Westpro Machinery, Komatsu Mining Corp., Wirtgen Group, The Weir Group Plc, Astec Industries, Inc, Eagle Crusher Company, Inc

Segmental Analysis

The Crusher market has been segmented based on product type, application.

Based on product type, the global Crusher market has been segmented into Cone Crushers, High Pressure Grinding Rolls, Impact Crushers, Jaw Crushers. By application, the Crusher market has been segmented into Metallic, Non-Metallic.

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