PUBLISHER: Market Research Future | PRODUCT CODE: 1637061
PUBLISHER: Market Research Future | PRODUCT CODE: 1637061
Global Crushers Market Research Report Information by Type (Cone Crushers, Impact Crushers, Jaw Crushers, Roll Crushers, Other), by Power Source (Diesel, Electric, Hybrid), by Mode of Operation (Stationary, Portable), by Application (Aggregates, Construction, Demolition, Environmental, Industrial, Mining, Other), and by Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) Forecast Till 2032
In 2023, the crushers market was estimated to be worth USD 6,345.10 million. According to projections, the global crushers market will expand at a compound annual growth rate (CAGR) of 5.9% from 2024 to 2032, from USD 6,751.19 million to USD 10,683.22 million.
The growth of the manufacturing and industrial sectors, recycling and sustainability, and infrastructure development and urbanization throughout Asia-Pacific are the factors propelling the crushers market.
Over the next ten years, there will likely be a large increase in demand for crushers due to the Asia-Pacific region's enormous urbanization and infrastructure development. Furthermore, the need for crushers is being driven mostly by the growth of the industrial and manufacturing sectors. The expansion of these industries raises the demand for raw materials to support the manufacturing of goods, which in turn increases the requirement for effective equipment for material processing. Large rocks and minerals can be used in a variety of industrial applications because crushers can break them down into smaller, easier-to-handle bits.
Perspectives on Market Segments
The market is divided into several types, including jaw crushers, roll crushers, impact crushers, gyratory crushers, cone crushers, and others.
The market is divided into diesel, electric, and hybrid segments according on the power source.
The market is divided into two segments based on how they operate: fixed and portable.
The aggregate, construction, demolition, environmental, industrial, mining, and other application segments comprise the crushers market size.
Regional Perspectives
The market for crushers in Asia Pacific held the highest share in 2023 and is anticipated to increase at a substantial compound annual growth rate (CAGR) throughout the course of the study. A sizable and expanding construction sector, especially in quickly urbanizing and developing nations like China and India, is driving the Asia-Pacific crushers market's notable strengths. Continuous technological developments in crusher technology, which increase productivity and efficiency, encourage this progress.
Furthermore, the crushers market's second-largest region is North America. The market for crushers in North America has many advantages, chief among them being its emphasis on technological innovation and improvements in crusher equipment. The existence of significant international crusher manufacturers and established distribution networks is advantageous to this area. The thriving infrastructure and construction industries, which are bolstered by advantageous government laws and policies, are the main drivers of the high demand for minerals and aggregates.
Furthermore, the market for crushers in Europe has expanded dramatically in recent years. One of the many advantages of the European crusher market is its developed industrial infrastructure, which facilitates effective production and delivery. The area benefits from a strong supply chain with many suppliers and distributors, as well as cutting-edge technology that exhibits high levels of innovation in crushing equipment. The market is also supported by the availability of a trained labor force with experience with heavy machinery and industrial equipment.
Astec Industries, Inc., Dragon Equipments Limited, Eagle Crusher Co., Inc., Wirtgen Group, Komatsu Ltd., Metso Corporation, Sandvik AB, Terex Corporation, Thyssenkrupp AG, and Weir Group are some of the leading company names in the market.