What is Powered Support?
Powered Support is a mechanical machine that helps n providing the function to control strata deformation, fracture as well as movement around the coal face. They also help in maintaining a safe and coal-producing working environment. The rising applications of these in the industrial sector is driving the market dynamics in the forecasted period.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Joy Global (United States), Caterpillar (United States), ABB (Switzerland), Becker Mining (Germany), Nepean (Australia), Famur (Poland), Tiandi Science & Technology (China), Zhengzhou Coal Mining Machinery Group (China), Beijing Coal Mining Machinery (China) and Pingdingshan PMJ Coal Mine Machinery Equipment (China) |
The study covers a detailed analysis segmented by key business segments i.e. by type (Chock Support, Shield Support and Chock Shield Support) , by application (High Mining Height Mining, Top Coal Caving Mining and Fully Mechanized Mining) and major geographies. Research Analyst at AMA predicts that China Manufacturers will contribute to the maximum growth of Global Powered Support market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Powered Support market report suggests strategies that Manufacturers can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Manufacturers, some of them are Joy Global (United States), Caterpillar (United States), ABB (Switzerland), Becker Mining (Germany), Nepean (Australia), Famur (Poland), Tiandi Science & Technology (China), Zhengzhou Coal Mining Machinery Group (China), Beijing Coal Mining Machinery (China) and Pingdingshan PMJ Coal Mine Machinery Equipment (China).
Market Overview:
On 5 May 2022, Caterpillar Inc. has acquired Tangent Energy Solutions, a U.S.-based energy-as-a-service company., Tangent Energy provides customers with turnkey solutions for reducing energy costs, increasing energy efficiency, reducing emissions, monetizing electric grid support and providing resiliency for customer operations.
The market for Powered Support is highly competitive with several global as well as local players in the market. The global players are trying various strategies such as product innovation and using various marketing strategies to gain a higher market share.
Powered Support Market Dynamics:
Attributes | Details |
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Growth Drivers | - Rising Industrial Sector is Driving the Market
- Cumulating Demand from End-User Industries
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Major Trends | - Adoption of these in Preventing the Broken Rock from Entering the Work Area
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Restraints | - High Cost Associated with these Machines
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Road Blocks / Challenges | - Lack of Awareness about this Product in Developing Countries
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Gaps & Opportunities | - Rising support capacities in Australia depending upon geo-environmental factors. In general, these powered support capacities can be between 650 tonnes to over 1100 tonnes. For Instance, Baal Bone mine, located near Lithgow NSW, uses a 630-tonne yield load 4 leg chock shiled support for a depth of cover up to 240 metres. Hence providing the opportunity in this industry.
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Key highlights of the Global Powered Support market Study:
CAGR of the market during the forecast period 2021-2027
In-depth information on growth factors that will accelerate the Powered Support market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Powered Support market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Manufacturers
Comprehensive information about factors that will challenge the growth of Powered Support Manufacturers
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Powered Support market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Powered Support market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes Powered Support Manufacture, Powered Support Distributors, Potential Investors, Government Bodies and Associations, Up and Down Stream Vendors, Private Research Organizations, Suppliers and Distributors and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.