About Mining Equipment
The global mining equipment market is driven by increasing adoption of automation technologies, data analytics thus leading to smart and connected solutions. Big data analytics is widely used in mining processes to facilitate smart collaborations, worker safety, and security. Mining Equipments is widely used for the extraction of geological materials such as Copper, Gold, Silver, lead, Zinc, Iron, diamond from the surface or under the Earth. These equipment are involved in digging, drilling and loading activities.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The market is concentrated by leading players involved in product launch, acquisition, and collaboration. These players are continuously focusing on adopting modern technologies for improving the quality of mining equipment that is used for different purposes in coal mining, metal mining, and mineral mining.The Manufacturers having a strong hold in the market are Sandvik AB. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Caterpillar, Inc. (United States), Komatsu Ltd. (Japan), Atlas Copco AB. (Sweden), Sandvik AB (Sweden), Leibherr-International AG (Switzerland), Metso Corporation (Finland), Doosan Corp. (South Korea), Hitachi Limited (Japan) and AB Volvo (Sweden) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Mining Equipment market by Type (Mineral processing Equipment, Surface mining equipment, Underground mining equipment, Mining drills and breakers, Crushing, Pulverizing, Screening equipment and Others), Application (Metal Mining, Mineral Mining and Coal Mining) and Region.
On the basis of geography, the market of Mining Equipment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Function, the sub-segment i.e. Transportation will boost the Mining Equipment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technology like IoT is reducing labor cost and Operational time, in turn, increases the demand for innovative mining equipment.
Market Growth Drivers:
Introduction of new equipment based on automation technology., High risk associated with mining operations resulting in equipment manufacturing., Increasing demand for metals and mineral commodities. and Increasing need for mineral fertilizers to improve agricultural yield.
Challenges:
Exploration of metals and minerals due to depleting natural resources with the requirement of better production output.
Restraints:
Stringent government regulations such as Environmental concerns, safety standards, emission norms, and import regulation may hamper the growth of the market.
Opportunities:
Increased investments for the development of underground mines and rise in construction of roads and railways.
Market Leaders and their expansionary development strategies
In April 2023, Epiroc, a productivity and sustainability partner for the mining and infrastructure industries, has acquired of AARD Mining Equipment, a South African mining equipment manufacturer.
In March 2023, Tata Hitachi launched the all-new Mining Excavator ZX670H at the Kharagpur plant in the presence of customers. This made-in-India machine – is designed and manufactured to meet customer expectations of high durability, unmatched efficiency, easy maintenance, low operating cost, maximum safety, and comfort.
Key Target Audience
Coal manufacturers, Government agency, Distributors and Suppliers, Traders and Mining manufacturers
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.