Crusher Market Research Report: Information by Product Type (Cone Crushers, High Pressure Grinding Rolls, Impact Crushers, Jaw Crushers), Application (Metallic, Non-Metallic) and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast Till 2030

Crusher Market Overview

Global Crushers Market is projected to be worth USD 2699.2 million by 2030, registering a CAGR of 5.1% during the forecast period (2022 - 2030), The market was valued at USD 1813.2 million in 2020.

Crusher is a machine that is used for crushing and processing stones and minerals. The demand for crushers is growing significantly in the global market owing to the increasing demand for metals & commodities and the growth of the mining industry.

The global crusher market has been segmented based on product type, application, and region. Based on product type, the global crusher market has been segmented into cone crushers, high-pressure grinding rolls, impact crushers, and jaw crushers. The cone crusher segment is expected to grow at 4.7% during the forecast period. In 2020, the cone crusher segment held a share of 40.1% of the global crusher market.

Based on application, the global crusher market has been segmented into metallic and non-metallic. The metallic segment is expected to grow at 5.3% during the forecast period. In 2020, the metallic segment held a 53.4% share of the global crusher market.

COVID-19 Analysis

The outbreak of COVID-19 has drastically disrupted the supply chain, resulting in a shortage of raw materials and components required for manufacturing crushers. Due to supply chain disruptions and contractual implications, equipment manufacturers are facing difficult situations in acquiring cheap raw material as the manufacturing units are closed. As economic activities are further slowing down globally, countries across the globe are expected to witness a further decline in revenues until the pandemic crisis stabilizes. Moreover, the key manufacturing players in all the regions are emphasizing the development of new strategies to meet the consumer demands in the various countries across the globe. Crusher manufacturing involves complex processes, with subcomponents required to assemble a single product that is sourced from several countries across the globe. The raw materials required to manufacture these subcomponents could also come from different countries and continents, and the finished products will again be transported all over the globe. The dependence on logistics makes the import and export of raw material and the finished product more complex due to disruption in the supply chain. As a result, it causes significant variation in the prices of raw materials. In addition, international transportation was severely hit when the outbreak of the pandemic. The raw materials are not available easily, resulting in price fluctuations, particularly in the raw material prices.

Market Dynamics

The global crusher market is expected to register high growth in the next six years. The demand for crushers is poised to be driven by the increasing demand for metals & commodities and the growth of the mining industry. However, the market's growth is anticipated to be interrupted by concerns related to environmental & human rights and fluctuating raw material prices. Furthermore, the high cost of equipment is expected to pose a challenge for the market players. However, the provision of rental & used equipment is expected to offer a lucrative growth opportunity for the players operating in the global crusher market.

Drivers

• Growth of the mining industry

The mining, mineral, and metal industries are of great importance to the APEC economies, with the largest share of all global mining trade and investment conducted within the region. As per the World Trade Organization, the share of natural resources in total world exports increased to more than 22 percent since 1990. The APEC’s promotion of free trade and investment in the mining sector reflects the importance of minerals and metals in generating economic growth as a component in many key products that have improved living standards. Its collaborative activities support well-managed, effectively regulated mining and metallurgical operations, which are sustainable and that contribute to the well-being and livelihoods of citizens in APEC economies.

The rapid growth of the overall mining industry in North America can be attributed to the significant contribution of the gold mining industry. In the last decade, the demand for gold has been increasing in several industries, including jewelry, technology, investment, and central banks. In the US, the demand for gold from the jewelry industry increased from 122.3 tons in 2010 to 131.1 tons in 2019. Additionally, the demand for gold from the jewelry industry in Canada has been growing in the last few years, increasing from 13.8 tons in 2016 to 14.4 tons in 2019.The gold mine production in North America increased from 333.4 tons in 2010 to 410.7 tons in 2019. The increasing gold mine production, thereby, results in increasing the demand for crushers in the region. Gold is widely used in jewelry and electronics in the US. Approximately 50% of the gold is utilized for jewelry, and the electronics industry utilizes 37% of gold in the country. The electronics industry has wide applications of gold as it is a good conductor of electricity and is anti-corrosive. Observing the historic trends, the demand for gold in North America is anticipated to increase steadily in the coming years.

Opportunity

• Growing demand for rental and used crusher

Crusher sets are available on rent with various types of machinery, such as cone crushers, high pressure grinding rolls, impact crushers, jaw crushers, and others according to the needs of projects in the overall mining industry. The increasing demand for rented crushers can be attributed to the lower costs associated with renting than purchasing new equipment. With many small and medium-scale manufacturers unable to afford new equipment, the global crusher rental business segment is witnessing decent growth. Renting a crusher also allows a contractor to lower the working capital costs on a project and provide access to equipment with advanced technology. Consumers can rent various types of crushers for a single project, as per their needs and time frame, which reduces the overall project cost. However, if they purchase a variety of new equipment for their projects, they must bear high expenses. There are several players offering crusher rental services.

Restraints

• Fluctuating raw material prices

There are several costs associated with the manufacturing of crusher that involves large investments by OEMs, which increases the price for the operators. The raw material is one of the main aspects of the global crusher market, which accounts for the largest share of the total cost of production. The prices of materials, such as steel, plastic, copper, and iron, required to manufacture such equipment fluctuate, which could raise the price of the final products. Steel and iron are the key raw materials used for the manufacture and assembly of crushers. Thus, the fluctuating raw material prices affect the production cost, which is expected to restrict the growth of the global crusher market during the forecast period.

However, over the years, a moderate fluctuation in the prices of raw materials has been observed. According to the General Steel Corporation, the price of steel is expected to change by only USD 5 per ton between 2019 and 2020. Hence, the impact of fluctuating raw material prices on the demand for crushers is expected to shift from high to moderate over the forecast period. In addition, the manufacturers of crushers generally engage in long-term contracts to negate the impact of raw material price fluctuations. Hence, the impact of fluctuations in raw material prices on the global crusher market is anticipated to decrease in the coming years.

Market Segmentation

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.

Regional Analysis

Globally, the Crusher market has been categorized into five different regions—North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia-Pacific accounted for the largest market share in 2020 with a market value of USD 1,820.4 million; the market is expected to register a CAGR of 5.5% during the forecast period. 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.GLOBAL CRUSHER MARKET, BY REGION, 2020 (% SHARE)Source: Industry Expert, Secondary Research, and MRFR Analysis

Asia Pacific Region to Bolster the Crusher Market

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.

Competitive Landscape

The global market for Crusher has witnessed significant growth over the forecast period due to the growing digital content. There are several domestic, regional, and global players operating in the Crusher market who continuously strive to gain a significant share of the overall market. During the study, MRFR has analyzed some of the major players in the global Crusher market who have contributed to the market growth. These 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.

There are several domestic, regional, and global players in the Crusher market who continuously strive to gain a significant share of the overall market. During the study, MRFR has analyzed some of the major players in the global Crusher market who have contributed to the global market growth.

Key Players

• Komatsu Mining Corp


• FLSmith


• Terex


• Sandvik AB


• Metso Corporation

Recent Developments

• In September 2021, Metso Outotec appointed PT Trakindo Utama as a distributor for aggregates solutions in Indonesia from September 2021 onwards. PT Trakindo Utama will provide Metso Outotec’s track-mounted, wheel-mounted, and stationary crushers and vibrating equipment, crusher wear parts & screening media, and commissioning & aftermarket services, including technical services support and service contracts for aggregate quarries and contractors in Indonesia.


• In August 2021, Metso Outotec and Ascendum Makina Tic A.S. started cooperating to provide crushing and screening solutions for companies in the aggregate industry in Turkey. As of August 2021, Ascendum Makina Tic A.S. will sell Metso Outotec’s mobile & stationary crushers, vibrating equipment, and track and wheel-mounted crushers & screens for aggregate processing. In addition, Ascendum Makina Tic A.S. will provide related Metso Outotec’s crusher wear parts and provide services, such as service contracts, commissioning, and technical support.


• In June 2019, Sandvik Mobile Crushers and Screens rolled out the latest upgrade in their 2 Series product offerings with the launch of the new QI442 Impactor.


• In April 2020, Sandvik Mobile Crushers and Screens launched the next-generation mobile heavy-duty scalper with the launch of the new QE442. An evolution of the class-leading QE441, the new machine comes with a host of updates and new features.

Report Overview

This study estimates revenue growth at global, regional, and country levels and offers an overview of the latest developments in each of the sub-sectors from 2021 to 2030. For this analysis, MRFR segmented the global Crusher Market report based on product type, application and region.

By Product Type

• Cone Crushers


• High Pressure Grinding Rolls


• Impact Crushers


• Jaw Crushers

By Application

• Metallic


• Non-Metallic