The global stone crushing equipment market is expected to witness significant growth over the forecast period. Stone crushing equipment is used to lower the size, or to change the shape of the raw material mix by breaking down the stones into small pieces, so that they are easily differentiated for the proper end use. The crushing equipment are made up of metal surfaces that are capable of compressing the accuracy of material such as stones, quartzite, rocks, coke, iron, and many others. The crushing equipment operate by applying compressive strength to the material and crushing it by means of collisions between the machine and the materials.
The stone crushing machines find use in a variety of fields such as building materials, mining, metallurgy, highways, chemistry, railways, etc. based on the requirement put forth by the type of construction activity such as highways, roads, canals, buildings, and bridges, etc. The stone crushing equipment can produce different sizes of crushed stone. With the current growth rate of global urbanization, the stone crushing equipment market is anticipated to witness a surge in demand for crushers applied in the construction of infrastructure and other activities.
The stone crushing equipment are required to be located close to the demand centers such as the cities, canals, bridges, etc. as the transportation of the crushed stone over long distances sums up to the cost of the final product. Stone crushing equipment also demand a heavy electricity supply and a large manpower for operation and also require access; most stone crushing equipment are located in the vicinity of major construction projects or along the periphery of the cities.
There is a continuous development of the construction industry all over the world; the inland, as well as the marine reserves of natural sand and stone, are gradually depleting. This has led to increased attention to the artificial stone and sand manufacturing industry. This has increased the demand for the crushing equipment globally and the share of the global crushing stone equipment is going to increase during the forecast period. Besides, the increasing price of the crushing equipment all over the world proves to be the restraint to the global stone crushing equipment market.
The stone crushing market is segmented on the basis of type into jaw crusher, cone crusher, impact crusher, and others. The stone crushing market is segmented on the basis of end-user industry into mining, quarrying, recycling, and others.
The stone crushing market is segmented on the basis of geographical region into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan, and MEA, and the Rest of the world. The RoW segment consists of Latin America and Middle East & Africa. The stone crushing equipment market has been extensively analyzed on the basis of various regional factors such as demographics and gross domestic products, inflation rate, acceptance, and others. The Key Players include Metso Oyj, Sandvik AB, Terex Corporation, Caterpillar Inc., Komatsu Ltd., and Joy Global Inc., BUCY International, and CNH Global N.V.
The global construction industry, once thriving with increased investments, has been severely affected by the suspension of the construction activities in the wake of the ongoing pandemic. Shortage of labors coupled with potential supply chain bottlenecks of materials and equipment is expected to cause project delays in the ongoing funded projects and may lead to reduced spending in the upcoming projects. Uncertainty around the actual duration of the prevailing lockdown makes it hard to anticipate how a recovery in the construction industry will unfold. On similar lines, the HVAC industry has been adversely affected by the COVID-19 outbreak due to the shutting down of several component manufacturing facilities across China, European countries, Japan, and the U.S. This has consequently led to a significant slowdown in the production of HVAC equipment. Lockdowns imposed by the governments in the wake of the Covid-19 outbreak has not only affected manufacturing but also pegged back the consumer demand for HVAC equipment. The report will account for Covid19 as a key market contributor.