Underground Mining Equipment Market - By Equipment Type (Mining Drills & Breakers, Trucks, LHD Loaders, Concrete Spraying Equipment, Concrete Transport Machine, Roof Bolters, Others), By Mining Method (Room and Pillar Mining, Longwall Mining, Block Caving
Global underground mining equipment market size is estimated to be USD XXX Million in 2019 and is expected to reach USD XXX Million by 2025, growing at a compound annual growth rate (CAGR) of 6.7% during the forecast period i.e., 2020-2025.
Underground Mining Equipment Market: Growth Drivers
Rising Mining Industry
World mining industry recorded 2018 as a remarkable year. The continuing recovery in commodity prices, fueled by global economic growth, has encouraged the growth of the mining industry, which in turn has also fostered the demand for underground mining equipment in the mining industry. In the past years, the number of operative mines has increased throughout the globe. Further, this increase in the number of active mines is anticipated to escalate the demand for underground mining equipment in the mining sector.
Underground Mining Equipment Market: Segmentation Analysis
The underground mining equipment market is segmented by equipment type, mining method, and application. Based on equipment type, the market is segmented into mining drills & breakers, trucks, LHD loaders, concrete spraying equipment, concrete transport machine, roof bolters, and others, out of which, mining drills & breakers segment is expected to grow at a significant CAGR over the forecast period i.e., 2019-2024. Further, it was followed by the LHD loaders segment in terms of market share in 2018.
By mining method, the market is divided into room and pillar mining, longwall mining, block caving, cut and fill mining, and others, out of which, longwall mining segment is anticipated to register a higher revenue share in the global underground mining equipment market over the forecast period.
Moreover, based on application, the underground mining equipment market is further sub-segmented into coal mining, metal mining, and mineral mining. Among this segment, coal mining segment has acquired lion market share and is projected to grow at a noteworthy CAGR over the upcoming years.
Underground Mining Equipment Market: Geographical Analysis
Geographically, the report offers an analysis of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In underground mining equipment market, Asia Pacific is likely to account for a notable market share by the end of 2025. Further, factor such as increasing need for adopting the latest technology to increase efficiency and mining regulations in the region is anticipated to drive the growth of Asia Pacific underground mining equipment market. Also, Asia Pacific market is driven on the back of rising consumption of metal and minerals owing to the rapid urbanization and is projected to grow at a noteworthy compound annual growth rate (CAGR) from 2020 to 2025.
Underground Mining Equipment Market: Competitive Analysis
The report also covers detailed competitive analysis of major market players of global underground mining equipment market, such as Caterpillar Inc., Komatsu Mining Corp., Sandvik AB, Hitachi Co. Ltd., Boart Longyear, ThyssenKrupp AG, J.H. Fletcher & Co. Inc., Atlas Copco AB, SANY Group, Normet Group Oy and other major & niche players. The global underground mining equipment market is witnessing a wide range of industry activities such as product launch, acquisition, partnership, and expansion across the globe. For instance, on June 17, 2019, Sandvik AB completed the acquisition of Newtrax. This acquisition helped the company to strengthen its areas related to automation and digitalization.
By Equipment Type:
- Mining Drills & Breakers
- LHD Loaders
- Concrete Spraying Equipment
- Concrete Transport Machine
- Roof Bolters
By Mining Method:
- Room and Pillar Mining
- Longwall Mining
- Block Caving
- Cut and Fill Mining
- Coal Mining
- Metal Mining
- Mineral Mining
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
- Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
The report profiles various major market players such as;
- Caterpillar Inc.
- Komatsu Mining Corp.
- Sandvik AB
- Hitachi Co. Ltd.
- Boart Longyear
- thyssenkrupp AG
- J.H. Fletcher & Co. Inc.
- Atlas Copco AB
- SANY Group
- Normet Group Oy
- Other Major & Niche Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development and other market activities).
The study also provides company’s positioning and market share in underground mining equipment market.
Timeline Considered for Analysis:
- 2019: Base Year
- 2020: Estimated Year
- 2020 to 2025: Forecasted Year
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global underground mining equipment market by the following segments:
- Equipment Type
- Mining Method
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Underground Mining Equipment Industry Report
- What is the overall market size in 2019? What will be the market growth during the forecast period i.e. 2020-2025?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?