The underground mining equipment market is witnessing innovations that enhance safety and efficiency in underground operations. Advancements in automation and remote operation systems improve worker safety by reducing the need for personnel to be physically present in hazardous areas. Smart sensors and IoT integration enable real-time equipment monitoring, enhancing maintenance and uptime. These innovations increase productivity and reduce operational risks, making underground mining more sustainable and cost-effective for a wide range of applications.
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Data Bridge Market Research analyses that the Commonwealth of Independent States (CIS) Underground Mining Equipment Market, valued at USD 3,958.08 million in 2022, will reach USD 6,213.98 million by 2030, growing at a CAGR of 5.8% during the forecast period of 2023 to 2030.
The underground mining equipment market is influenced by stringent environmental regulations, which drive the adoption of cleaner and sustainable mining practices. This emphasis on reducing the environmental impact of mining operations promotes the development and implementation of eco-friendly equipment and practices.
Key Findings of the Study
Urbanization and infrastructure are expected to drive the market's growth rate
As urban areas expand, construction materials and resources demand also grow. To meet these needs, underground mining becomes essential. The underground mining equipment market is thus driven by the requirement for minerals, metals, and materials that are extracted from beneath the Earth's surface. This market supports the construction, infrastructure, and manufacturing sectors, providing the raw materials necessary for urban development and the expanding global population.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Mining Trucks, Diggers, Mining Bottlers, Mining Shearer, Mining Drills, Continuous Miners, Mining Equipment’s, Crushing, Pulverizing and Screening Equipment’s, Others), Technique (Soft Rock Mining, Hard Rock Mining), Power Output (Less Than 500 Hp, 500-2000 Hp, Greater Than 2000 Hp), Mining Method (Longwall Mining, Room and Pillar, Barehole Mining, Block Caving, Shrinkage Stopping, Sublevel Caving, Cut and Fill Mining, Others), Movement Based (Wheeled, Crawler), Drive Type (Human Drivers, Autonomous), Application (Metal Mining, Coal Mining, Non-Metal Mining), Purchase Mode (Rented/Leased, New Purchase), Operating Weight (More Than 14,000kg, Less Than 14,000kg), Propulsion Type (Diesel, Electric, CNG/LNG/RNG), End User (Mining Operations, Rental Service Provider)
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Countries Covered
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Russia, Kazakhstan, Azerbaijan, Ukraine, Belarus and Rest of Commonwealth of Independent States (CIS)
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Market Players Covered
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AARD Mining Equipment (South Africa), AB Volvo (Sweden), BELAZ (Belarus), Boart Longyear. (U.S.), Epiroc AB (Sweden), FLSmidth (Denmark), Hitachi Construction Machinery Co., Ltd (Japan), Hyundai Doosan Infracore (South Korea), Komatsu Mining Corp (Japan), Liebherr-International Deutschland GmbH (Switzerland), Liugong Machinery Co., Ltd. (China), Metso (Finland), minemaster.eu. (Złotoryja.), RDH -Scharf (Canada), Sandvik AB (Sweden), SANY Groups (China), Terex Corporation (U.S.), XCMG Group (China), Caterpillar (U.S.), Hager Electro-India (India)
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Segment Analysis:
The Commonwealth of independent states (CIS) underground mining equipment market is segmented on the basis of product type, technique, power output, mining method, movement based, drive type, application, purchase mode, operating weight, propulsion type, and end user.
- On the basis of product type, the Commonwealth of independent states (CIS) underground mining equipment market is segmented into mining trucks, diggers, mining bottlers, mining shearer, mining drills, continuous miners, mining equipment’s, crushing, pulverizing and screening equipment’s, and others.
- On the basis of technique, the Commonwealth of independent states (CIS) underground mining equipment market is segmented into soft rock mining, and hard rock mining.
- On the basis of power output, the Commonwealth of independent states (CIS) underground mining equipment market is segmented into less than 500 Hp, 500-2000 Hp, and greater than 2000 Hp.
- On the basis of mining method, the Commonwealth of independent states (CIS) underground mining equipment market is segmented into longwall mining, room and pillar, barehole mining, block caving, shrinkage stopping, sublevel caving, cut and fill mining, and others.
- On the basis of movement based, the Commonwealth of independent states (CIS) underground mining equipment market is segmented into wheeled, and crawler.
- On the basis of drive type, the Commonwealth of independent states (CIS) underground mining equipment market is segmented into human drivers, and autonomous.
- On the basis of application, the Commonwealth of independent states (CIS) underground mining equipment market is segmented into metal mining, coal mining, and non-metal mining.
- On the basis of purchase mode, the Commonwealth of independent states (CIS) underground mining equipment market is segmented into rented/leased, new purchase
- On the basis of operating weight, the Commonwealth of independent states (CIS) underground mining equipment market is segmented into more than 14,000kg, and less than 14,000kg.
- On the basis of propulsion type, the Commonwealth of independent states (CIS) underground mining equipment market is segmented into diesel, electric, and CNG/LNG/RNG.
- On the basis of end user, the Commonwealth of independent states (CIS) underground mining equipment market is segmented into mining operations, and rental service provider.
Major Players
Data Bridge Market Research recognizes the following companies as the Commonwealth of Independent States (CIS) underground mining equipment market players in Commonwealth of Independent States (CIS) underground mining equipment market are AARD Mining Equipment (South Africa), AB Volvo (Sweden), BELAZ (Belarus), Boart Longyear. (U.S.), Epiroc AB (Sweden), FLSmidth (Denmark), Hitachi Construction Machinery Co., Ltd (Japan), Hyundai Doosan Infracore (South Korea).
Market Developments
- In 2022, Komatsu revealed its acquisition of the German company Gelsenkirchen GGH Group to bolster its underground mining equipment segment. This strategic move is set to enhance Komatsu's footprint in Europe, South Africa, and India, key regions in the global mining industry. The acquisition positions Komatsu to provide advanced mining solutions to a wider customer base and further solidifies its underground mining equipment market presence.
- In 2022, Epiroc and AARD Mining Equipment, a prominent South African mining equipment manufacturer, entered a strategic agreement. This collaboration leverages AARD's expertise in mining equipment production and Epiroc's global presence in the industry. The partnership aims to enhance mining productivity and sustainability, providing advanced solutions to the mining and infrastructure development sectors, mainly benefiting the South African mining market.
- In 2021, Liebherr partnered with Hexagon to advance their mine automation capabilities. This collaboration showcased the compatibility of Liebherr's autonomous systems with Hexagon's technologies. By merging their strengths, they achieved greater onboard intelligence, reducing the need for centralized supervision and site infrastructure. The partnership expanded Liebherr's portfolio of automation-related products, specifically focusing on enhancing machine learning and artificial intelligence, facilitating next-generation mine automation solutions.
- In 2021, at the World of Concrete event, Hyundai Doosan Infracore introduced the DL380-7, a pivotal addition to its -7 Series wheel loaders. Replacing the DL350-5, this next-gen wheel loader features a standard bucket with a 7% larger capacity than its predecessor. This enhancement not only boosts productivity but also enhances rear visibility, providing businesses with an improved and more efficient loader for various applications in the construction and concrete industries.
Regional Analysis
Geographically, the countries covered in the Commonwealth of Independent States (CIS) underground mining equipment market report are Russia, Kazakhstan, Azerbaijan, Ukraine, Belarus and Rest of Commonwealth of Independent States (CIS).
As per Data Bridge Market Research analysis:
Russia is the dominant region in the Commonwealth of Independent States (CIS) underground mining equipment market during the forecast period 2023-2030
Russia dominates the Commonwealth of Independent States (CIS) underground mining equipment market, owing to its rich natural resources, including coal, nickel, gold, silver, zinc, iron, and diamonds. The demand for underground mining equipment in Russia is driven by the need to extract and process these valuable resources efficiently. Russia's strategic position within the CIS region positions it as a significant player in the underground mining equipment market.
Kazakhstan is expected to dominate the Commonwealth of Independent States (CIS) underground mining equipment market in the forecast period 2023-2030
Kazakhstan is expected to dominate the Commonwealth of Independent States (CIS) underground mining equipment market due to its abundant bauxite, chromite, and copper reserves. These valuable mineral resources drive the demand for specialized underground mining equipment, making Kazakhstan a critical regional player. It’s significant mineral wealth positions it as a central hub for mining operations and underscores its leading role in the CIS market.
For more detailed information about the Commonwealth of Independent States (CIS) underground mining equipment market report, click here – https://www.databridgemarketresearch.com/reports/commonwealth-of-independent-states-cis-underground-mining-equipment-market
