Global Mining Equipment Market By Equipment Category (Crushing, Pulverizing & Screening Equipment, Drills & Beakers, Mineral Processing Equipment, Surface Mining Equipment, Underground and Mining Equipment); Industry (Coal, Metal and Minerals); Propulsion (Diesel, Gasoline and CNG/LNG/Others), Electric Equipment Type (Mining Trucks and LHD); Autonomous Equipment Category (Surface Mining and Underground Mining), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights Global Mining Equipment Market
Mining equipment market is expected to gain a growth of USD 120.03 billion registering a CAGR of 5.75% in the forecast period of 2021 to 2028. Data Bridge Market Research report on mining equipment market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth. Increasing use of electric machinery in underground mining and increase in demand for metals and commodities has boosted the mining equipment market.
Mining equipment can be defined as the machinery that is used for the extraction of precious minerals, nutrients and materials from the surface or from underneath the surface of the earth. Due to the tough nature of the earth’s surface and underneath the surface as well, there is need for excavation of these materials for improved efficiency of the mining methods as compared to human labours.
Rising demand of metals and minerals worldwide is the main driving factor for the growth of mining equipment market. Presence of regulations and upcoming applicable regulations by the authorities is also a driving factor for the mining equipment market. Use of telematics in mining machinery is an opportunity for the growth of mining equipment market.
Growth of demand of used/pre-owned equipment due to emergence of unorganized miners is a challenge for the mining equipment market. However, concerns regarding the environments and humans is the main restraint for the growth of mining equipment market during the forecast period of 2021- 2028.
This mining equipment market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on Data Bridge Market Research mining equipment market contact us for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
In March 2018, AB Volvo's building materials division announced that they had begun 3D printing of the remaining parts of their construction equipment. The move is expected to improve the delivery of leisure features to consumers. As the construction industry looks to new ways of producing better, equipment manufacturers are also looking for additional ways to improve productivity.
Mining Equipment Market Scope and Market Size
Mining equipment market is segmented on the basis of equipment category, industry, propulsion, electric equipment type, autonomous equipment category. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Mining equipment market on the basis of equipment category has been segmented as crushing, pulverizing & screening equipment, drills & beakers, mineral processing equipment, surface mining equipment and underground mining equipment. Surface mining equipment is further segmented into articulated dump truck, crawler dozer, crawler excavator, motor grader and rigid dump truck. Underground mining equipment is further segmented into drills, electric shovels, hydraulic excavators, mining dozers, mining trucks and wheeled loaders.
- Based on industry, the mining equipment market has been segmented into coal, metal and minerals.
- On the basis of propulsion, the mining equipment market has been segmented into diesel, gasoline and CNG/LNG/Others.
- Based on electric equipment type, the mining equipment market is segmented into mining trucks and LHD.
- Based on autonomous equipment category, the mining equipment market is segmented into surface mining and underground mining.
Mining Equipment Market Country Level Analysis
Mining equipment market is analysed and market size, volume information is provided by country, equipment category, industry, propulsion, electric equipment type, autonomous equipment category as referenced above.
The countries covered in the mining equipment market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific will dominate the mining equipment market due to its abundant deposits and increasing commodity prices and this region offers a number of opportunities for the mining companies as there is significant scope for exploration of bauxite, iron ore, and coal, whereas North America will witness its growth rate due to advancement in automotive technology and the region is home to large deposits of copper, gold, and iron, which provides exploration opportunities.
The country section of the mining equipment market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Mining Equipment Market Share Analysis
Mining equipment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to mining equipment market.
The major players covered in the mining equipment market report Caterpillar, AB Volvo, Komatsu Ltd., Sandvik AB, Liebherr-International Deutschland GmbH, Hitachi Construction Machinery Co. Ltd., Terex Corporation, Mining Machines JSC, Atlas Copco AB, SANY GROUP, Doosan Corporation, Equipment North Inc., RTM Equipment, DAKOTA EQUIPMENT MANUFACTURING INC., ASTEC INDUSTRIES INC., minemaster.eu, Konecranes, XCMG Group, BEML Limited, Hyundai Heavy Industries Co. Ltd., and AARD Mining Equipment among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.