About Hydraulic Mining Shovels
Hydraulic mining shovels, also called power shovels, are heavy-duty machines designed for mining and other intense digging tasks. These powerful machines have a lifting arm and large bucket to haul minerals, rocks, soil and other heavy materials. Hydraulic mining shovels can be oriented in the same way as standard excavators, with the bucket facing toward the machine’s cab, or can have a bucket that faces away from the cab. Upsuring mining activities across the US is one of the major driver propelling the growth of the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The market is highly competitive due to the presence of several prominent international players. These prominent players are adopting some organic and inorganic strategies such as merger, acquisition, partnership, product launches, among others in order to gain competitive advantage. Moreover, some of these players are focusing on R&D activities in order to offer advanced hydraulic mining shovels to the US market. Analyst at AMA Research estimates that United States and Japanese Manufacturers will contribute the maximum growth to Global Hydraulic Mining Shovels market throughout the forecasted period. 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 (United States), Komatsu (Japan), Hitachi (Japan), Liebherr (Switzerland), XCMG (China), Terex (United States) and Volvo Construction Equipment (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Hydraulic Mining Shovels market by Type (Operating Weight below 200 MT, Operating Weight 200 MT-400 MT and Operating Weight above 400 MT), Application (Surface Mining and Sub-surface Mining) and Region.
On the basis of geography, the market of Hydraulic Mining Shovels 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).
Influencing Trend:
Smart Technology in Hydraulic Mining Shovels
Market Growth Drivers:
Increase in Demand for Metals and Commodities around the United States to Boost the Demand for Mining Equipment and Upcoming Emission Regulations to Boost Advancements in Engine and Exhaust Technologies
Challenges:
Strict Environmental Regulations
Restraints:
Growing Market for Used Hydraulic Mining Shovels
Opportunities:
Growing Mining Sector across the US is expected to open new Avenues for the Market
Market Leaders and their expansionary development strategies
In December 2022, Komatsu acquired GHH Group GmbH (GHH), a manufacturer of underground mining, tunnelling and special civil engineering equipment. This acquisition as it represents a great opportunity for Komatsu to expand its offerings for underground mining equipment and accelerate new product development
In August 2020, Heavy equipment manufacturer Caterpillar has unveiled a two-piece bucket for its hydraulic mining shovels. The shovel bucket, which features a removable basket, is designed to reduce downtime. Caterpillar noted that the replaceable feature of the basket enables efficient and safer rebuilds when compared with traditional buckets.
Key Target Audience
Hydraulic Mining Shovels Manufacturers, Hydraulic Mining Shovels Traders/Distributors, Hydraulic Mining Shovels Importer/Exporter, Regulatory & Government Bodies, End Users and Others
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.