Crushing Equipment Market, 47% of Growth to Originate from APAC, Technavio

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Apr 11, 2024, 04:32 ET

NEW YORK, April 11, 2024 /PRNewswire/ -- The global crushing equipment market size is estimated to grow by USD 488.68 mn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 4.27% during the forecast period. APAC held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 47%.

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Technavio has announced its latest market research report titled Global Crushing Equipment Market 2023-2027

APAC is expected to play a pivotal role in propelling the global crushing equipment market

Geographic Landscape:

The Crushing Equipment Market experienced robust growth in the APAC region during 2022-2027, driven by infrastructure projects and the resulting demand for sand and gravel. Market analysis reveals that China and India led the market from 2011-2019, with South-East Asian countries, such as Indonesia and the Philippines, announcing new infrastructure projects from 2015-2025. Industry trends indicate continued growth prospects, with revenue forecasts reaching new heights. Technological advancements and product innovation are key drivers, with a focus on equipment efficiency, maintenance services, and aftermarket support. Regional analysis shows that APAC dominates, but emerging markets offer significant investment opportunities. Strategic partnerships, mergers and acquisitions, and regulatory landscape are shaping the competitive landscape. Sustainability initiatives and cost-effective solutions are essential for market penetration and customer satisfaction. Market entry barriers include high capital costs and market saturation, while market outlook remains positive due to end-user industries' demand and market competition. Market forecasts predict continued growth, with market revenue expected to increase significantly. The market landscape is dynamic, with market restraints including environmental concerns and regulatory requirements.

Research Analysis

In the Crushing Equipment Market, mergers and acquisitions have shaped the regulatory landscape, leading to consolidation and compliance with sustainability initiatives. Environmental concerns are increasingly prioritized, with companies implementing cost-effective solutions to improve equipment efficiency and reduce carbon footprints. Maintenance services and aftermarket support play crucial roles in ensuring the longevity and productivity of crushing equipment. Regulatory bodies continue to monitor these aspects, ensuring adherence to environmental standards and promoting sustainable practices.

Market Drivers

The global Crushing Equipment Market is experiencing significant growth due to increasing market demand for construction materials and infrastructure development. Market research indicates a positive market outlook with opportunities for product development and market penetration. However, market competition is intense, with market dominance and consolidation a concern. Technological advancements and product innovation are key market strategies to stay competitive. Market challenges include market restraints such as regulatory restrictions on river sand mining and market threats from alternative materials. The market landscape is diverse, with end-user industries including construction, mining, and quarrying driving demand. Emerging markets in Asia-Pacific and Africa offer significant growth prospects, with revenue forecasts indicating steady growth. Market analysis reveals industry trends towards energy efficiency and automation, while mergers and acquisitions and strategic partnerships shape the competitive landscape. The market forecast suggests continued growth, driven by demand drivers such as urbanization and infrastructure development.

Market Overview

The Crushing Equipment Market is a significant sector in the mining and construction industries. Markets for crushers are driven by the need to process large quantities of minerals and construction materials. Markets for these machines are segmented based on type, application, and region. Crushing equipment types include jaw crushers, cone crushers, impact crushers, and others. Applications include mining, quarrying, and construction. The Asia Pacific region dominates the global crushing equipment market due to the high demand for minerals and construction materials. Producers in this region include China, India, and Australia. The European market is also substantial due to the presence of major players and the high demand for construction materials. The US market is expected to grow due to the increasing demand for infrastructure development. The market is competitive with key players including Metso, Sandvik, Terex, and Komatsu. The use of advanced technologies such as automation and IoT is driving innovation in the market. The market is projected to grow at a CAGR of around 5% during the forecast period.

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About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio