Wilmington, Delaware, United States, April 24, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The global jaw crushers market is anticipated to grow at a 4.4% CAGR from 2023 to 2031. A market valuation of US$ 2.8 billion is anticipated by end of the forecast period.
The market is driven by the growing demand in the mining sector in the developing market and expansion of the construction industry. Also, Inventions and upgrades in technologies like the Internet of Things (IoT), industrial automation, and Industry 4.0 are anticipated to create profitable opportunities for key players in the market during the forecast period.
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With the burgeoning growth across industries around the world, the demand for stone-crushing equipment is increasing in various countries. This is expected to create new avenues for the market expansion. Besides this, advantages like cost-effectiveness, long life of equipment, high productivity, ease of maintenance, a broad range of feeding capacity, quick replacement of spare components, flexibility, less noise pollution, and low energy consumption are all promoting the use and demand for jaw crushers.
The growing adoption of automation by numerous industries such as mining, recycling, construction, and waste management activities is expected to keep the product demand afloat throughout the forecast period. In addition, availability of different sizes and capacities of jaw crushers is anticipated to positively influence market growth.
Key Takeaways from the Market Report
- The global Jaw crusher market is expected to be worth US$ 1.89 billion as of 2023.
- From 2023 to 2031, the market is expected to grow with a CAGR of 5.03 %.
- By type, double toggle jaw crushers are expected to lead the market by accounting for more than 60% market share by end of the forecast period.
- By application, the mining segment is expected to dominate the market by accumulating over 58% market share by 2033.
- As per TMR projections, the product demand in China is expected to grow at a significant CAGR of 5% throughout the forecast period.
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Jaw Crusher Market: Growth Drivers & Trends
- Technological enhancements and innovation are major factors expected to drive the growth of Jaw crusher market. Jaw crushers come in different varieties with new versions that are appealing to a wide range of potential clients.
- The rising investments in real estate and the growth in the construction of non-residential (heavy industrial, institutional and commercial, engineering) and residential are expected to propel the demand for jaw crushers in the coming years.
- Increasing adoption of mobile jaw crushers owing to their high flexibility and superior maneuverability is expected to fuel product demand in the near future.
- Improved jaw crusher design and a growing focus on energy efficiency are expected to create new avenues for manufacturers operating in the market.
- Rising spending in global infrastructure along with increasing urbanization is likely to amplify sales of Jaw crushers across different regions during the forecast period.
Jaw Crusher Market: Regional Analysis
- Asia Pacific is expected to command the market by accumulating over 41% market share by end of the forecast period. The market in this region is anticipated to grow with a significant CAGR of 4.8% during the forecast period.
- Rising investments and government initiatives in transportation infrastructure and booming construction & infrastructure activities are expected to drive market growth.
- The growing demand for industrial minerals from several end-use industries such as electronics is expected to drive regional product demand during the forecast period.
- The market in North America is projected to grow at a significant CAGR of 4.6% during the forecast period. Growth is expected to be driven by the vast use of technologically superior machinery in numerous industry verticals.
- The presence of many crushing equipment manufacturers and mounting product demand in the United States are some other factors that might influence regional statistics. Various companies across the country are also launching new products to improve operator safety and quarry efficiency.
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Jaw Crusher Market: Prominent Players
The global Jaw Crusher Market is characterized by the presence of numerous regional as well as global entities. Some key Jaw Crusher providers profiled by TMR include:
- FLSmidth A/S
- Henan Dewo Machinery
- Henan Hongxing Mining Machinery
- H-E-Parts International
- Maruti Jaw Crusher
- McLanahan Corporation
- Metso Corporation
- Retsch GmbH
- Sandvik Group
- Shanghai jianye Heavy Industry Co., Ltd.
- Shanghai SANME Mining Machinery Corp., Ltd.
- Thyssenkrupp AG
Prominent developments in the Jaw Crusher domain by key players are as follows:
- In April 2022, FLSmidth declared that it would deliver a full equipment flowsheet to a greenfield gold mine in Northern Canada. The delivery meant to include a cone crusher, jaw crusher, cyclones, ball mills, and other equipment.
- In February 2022, crushing contractor B&E International invested in Metso’s latest mobile screening solutions during the rising building and other construction equipment demand in 2022. The equipment order comprised a Lokotrack LT220D mobile crushing and Lokotrack LT120 mobile jaw crushing plant.
Jaw Crusher Market- Key Segments
By Type
- Single Toggle Jaw Crusher
- Double Toggle Jaw Crusher
By Power Type
- Diesel-Electric
- Diesel-Hydrostatic
- Diesel-Direct
By Output Potential
- Below 300 stph
- 301stph to 400 stph
- 401 stph to 500 stph
- Above 500 stph
By Transport Weight
- Below 70000 lbs.
- 70,001 lbs. to 120,000 lbs.
- 120,001 lbs to 175,000 lbs.
- Above 175,000 lbs.
By Application
- Mining
- Aggregate
- Demolition
- Industrial
- Construction
- Others (Manufacturing, Waste recycling, etc.)
By Distribution Channel
- Direct Sale
- Indirect Sale
By Region
- North America
- Asia Pacific
- South America
- Europe
- Middle East & Africa
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