As per this study the Global Mining Equipment Market was valued USD XX MN (by revenue) in 2021 and is anticipated to reach USD XX MN by 2027 with a CAGR of XX%.
Mining equipment is a tool used for drilling, excavating, crushing and grinding raw metal, mineral and coal. Mining equipment varies depending on whether the work is being done above (surface mining) or below (underground mining). Types of equipment like hammers and chisels with pickaxes and shovels are used for surface mining whereas trucks, loaders, diggers, etc. are used to excavate the material and are normally hauled to the surface with skips or lifts in underground mining. Mining equipment is used for the extraction of materials like copper, nickel, cobalt, gold, silver, and others from the surface or under the earth.
The increase in mining activities for the extraction of metals like gold and silver or minerals from the ground is fueling the global mining equipment market growth. Moreover, growing demand for natural resources such as coal, diamond, and uranium and increasing need for mineral fertilizers to improve agricultural yield supplements are further boosting the market demand. However, strict government regulations such as environmental concerns and safety standards can restrain market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of mining equipment.
The broad mining equipment market has been sub-grouped into type and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
- Mineral Processing Equipment
- Surface Mining Equipment
- Underground Mining Equipment
- Mining Drills and Breakers
- Crushing, Pulverizing, & Screening Equipment
- Metal Mining
- Mineral Mining
- Coal Mining
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for mining equipment in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Mining Equipment Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the mining equipment market include AB Volvo, Caterpillar Inc., Deere & Company, Doosan Corporation, Epiroc AB, Hitachi, Ltd., Komatsu Ltd., Liebherr-International AG, Metso Corporation, and Sandvik AB. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.