Stone Crushing Equipment Market Future Analysis, Demand by Regions and Opportunities with Challenges 2032

The global stone crushing equipment market is estimated to create an absolute dollar opportunity of US$ 5.5 Bn by the end of 2022. The sales of stone crushing equipment are expected to exceed US$ 11 Bn by 2032, accelerating at a remarkable CAGR of 10% over the forecast period 2022-2032. Increasing application across the artificial store and sand manufacturing sector is anticipated to augment the demand for stone crushing equipment in the market.

According to Future Market Insights, Asia Pacific excluding Japan is expected to have the fastest growth in the global stone crushing equipment market from 2022 to 2032. With rising demand for materials such as stones, aggregates, sand, and gravels as a result of rising building and construction activities throughout Asia Pacific, market leaders are increasingly aiming to launch novel machines to capitalise on the existing opportunity.

Stone crushing equipment is a type of machine designed to reduce the size of large rocks into smaller rocks, aggregates, sand, gravels, and other materials based on the need and use for the stone size. They are also used to change the shape of raw material mixtures by separating the stones into uses for construction, railways, canals, beaches, and other application-specific uses.

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These crushing machines work by applying compressive strength to the rocks and crushing them through collisions between the rock and the machine. They have a thick metal surface and can break and crush a wide range of materials, including quartzite, stones, coke, rocks, marbles, irons, and others. As a result, stone crushing equipment is finding widespread use in industries such as mining, building materials, metallurgy, railway, and highway construction, among others.

Furthermore, rapidly increasing mining activities and the increasing introduction of advanced crushing machines integrated with cutting-edge technology such as telematics and artificial intelligence are expected to drive demand for stone crushing equipments.

Which are Some Prominent Drivers Spearheading Stone Crushing Equipment Market Growth?

As the trend of urbanisation continues, there is a rapid increase in building and construction activities, particularly in China, the United States, Germany, India, Australia, and other countries. Furthermore, the growing emphasis on sustainable development and infrastructure improvement is encouraging governments in a number of countries to embark on a number of initiatives.

According to a report by the India Brand Equity Foundation (IBEF), the Government of India intends to build over 100 smart cities across the country and has announced nearly US$ 868 million in funding under the country's Smart City Mission for 2021-2022. Stone crushing equipments are extensively used for producing stones, aggregates, sand, gravels from larger rock based on the requirement by the type of construction activities such as buildings, bridges, roads, canals, and others. Thus, growing construction activities and implementation of such initiatives are estimated to create lucrative growth opportunities in the market.

However, rapidly expanding building & construction sector and increasing extraction of sand & gravels from water bodies has resulted in depletion of inland as well as marine reserve of stones and sand. This has led to a shift in construction industry players towards using artificial sand and stone for construction activities. As these artificial materials are made using stone crushing equipments, growing shift towards artificial sand and stone is expected to bolster the sales in the global market.

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What are the Challenges Faced by the Stone Crushing Equipment Market?

Stone crushing equipments are needed to locate close the demand centers such as cities canal, construction sites, bridges, and others. As these equipments causes a lot of noise pollution and release dust particles in the air, implementation of stringent regulations regarding noise and air pollution is compelling the operator to set up the plant away from cities, resulting in increased cost of hauling.

Also, need for large manpower for the operation, consumption of huge amount of electricity, and extravagant cost of stone crushing equipments are other factors hindering the growth in the market.

Why is Asia Pacific Excluding Japan Emerging as an Opportunistic Stone Crushing Equipment Market?

According to Future Market Insights, Asia Pacific excluding Japan is expected to have the fastest growth in the global stone crushing equipment market from 2022 to 2032. With rising demand for materials such as stones, aggregates, sand, and gravels as a result of rising building and construction activities throughout Asia Pacific, market leaders are increasingly aiming to launch novel machines to capitalise on the existing opportunity.

For instance, in 2019, Mesto, an Indian manufacturer, and supplier of construction equipments announced launching its latest addition to the versatile MX Multi-Action cone crusher series, MX3. It assists in lowering the operating costs and improving crusher productivity with a design optimized especially for mid-sized quarrying. A slew of such new product launches is estimated to augment the demand for stone crushing equipments in the market.

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How is North America Contributing to the Growth of the Stone Crushing Equipment Market?

According to FMI, the stone crushing equipment market in North America is expected to grow at a rapid CAGR between 2022 and 2032. In response to the trend of urbanisation, governments throughout the region are launching massive construction and railway projects to strengthen their transportation infrastructure. For example, the United States has announced plans to invest nearly $53.8 billion in the Sound Transit 3 (ST3) Construction Project to expand the country's existing link light railway system from Tacoma suburbs to West Seattle.

In addition to this, increasing mining and metallurgy activities across the countries such as the U.S. and Canada is estimated to bolster the sales of stone crushing equipments in the North America market.

Market Competition

Some of the leading players in the global stone crushing equipment market are BUCY International, Sandvik AB, Metso Oyj, Terex Corporation, CNH Global N.V., Komatsu Ltd., Caterpillar Inc., and Joy Global Inc.

The market for stone crushing equipment is highly competitive, due to large number of participants and increasing investment in development and introduction of novel crushing machines by leading players.