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Mining Equipment Market by Type (Mineral Processing Equipment; Surface Mining Equipment; Underground Mining Equipment; Mining Drills and Breakers; Crushing, Pulverizing, & Screening Equipment; and Others) and Applications (Metal Mining, Mineral Mining, an

01-25-2019 07:39 PM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

Mining Equipment Market

Mining Equipment Market

Asia-Pacific serves as the most productive region as compared to others with diverse industry verticals significantly investing in mining equipment. Moreover, various domestic players are investing in the mining sector, which is anticipated to boost the demand for mining equipment such as crusher, trucks, loaders, diggers, and others as to complete operations with reduced labor cost and high precision of work within optimized time. Furthermore, the surface mining equipment market is expected to experience rapid growth in the emerging economies during the forecast period due to deployments in the construction and mining industries.

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Allied Market Research published a report, titled, "Mining Equipment Market by Type (Mineral Processing Equipment; Surface Mining Equipment; Underground Mining Equipment; Mining Drills and Breakers; Crushing, Pulverizing, & Screening Equipment; and Others) and Applications (Metal Mining, Mineral Mining, and Coal Mining): Global Opportunity Analysis and Industry Forecast, 2018-2025." The report offers detailed analyses of the key player positioning, drivers & opportunities, major market segments, top winning strategies, and competitive landscape. According to the report, the global mining equipment market is expected to reach $188.77 billion by 2025 from $106.85 billion in 2017, registering a CAGR of 7.2% from 2018 to 2025.

Increasing consumption of metal & mineral commodities and rise in the demand for mineral fertilizers drive the growth of the market. However, skyrocketing prices of raw materials and stringent government rules for mining activities are expected to hinder the market growth. On the other hand, rise in demand for technologically advanced equipment and surge in construction activities for road and railway tracks in hilly areas would create new opportunities in the market.

Surface mining equipment segment to remain dominant throughout forecast period. Surface mining equipment segment accounted for nearly one-third share of the total market revenue in 2017 and is expected to maintain its lead throughout the forecast period. This is attributed to the significant increase in mining activities across developing countries. However, the mining drills and breakers segment is expected to grow at the highest CAGR of 9.1% from 2018 to 2025, owing to large metal reserves in the Asia-Pacific region, especially in Japan, India, and Australia. The research also analyzes segments such as mineral processing equipment, underground mining equipment, crushing, pulverizing, & screening equipment, and others.

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Metal mining segment held the major market share in 2017, contributing nearly two-fifths of the total revenue. Moreover, it is expected to retain its lion's share throughout the forecast period. This segment is expected to grow at the highest CAGR of 9.1% from 2018 to 2025 owing to rise in demand for premium metals including diamond, platinum, and titanium in developing countries. The research also analyzes mineral mining and coal mining segments.

Asia-Pacific contributed two-thirds share of the total revenue in 2017 and is expected to maintain its dominant position during the forecast period. This is on account of the rise in demand for minerals and metals including silver, gold, diamond, and platinum. On the other hand, Europe would grow at the highest CAGR of 10.00% from 2018 to 2025, owing to rise in investments in automated equipment coupled with availability of technologically enhanced infrastructure in the region.

The key market players analyzed in the report include AB Volvo, Deere & Company, Caterpillar Inc., Epiroc AB, Doosan Corporation, Komatsu Ltd., Hitachi, Ltd., Metso Corporation, Liebherr-International AG, and Sandvik AB. These players have adopted various strategies including partnerships, expansions, mergers & acquisitions, joint ventures, collaborations, and others to gain a strong position in the industry.

Analyst Review:

Mining equipment is an equipment majorly used for mine exploration. It is used in the mining sector to dig earth surface to obtain metal, mineral ore, and precious stones. The global mining equipment market has witnessed significant growth due to expansion of mining industries in emerging countries such as India, China, and others. Furthermore, surge in adoption of mining equipment due to increase in new technologies in the mining sector boosts the growth of the global mining equipment market. In addition, reduced labor cost, increased workplace safety, reduced operational time, and high precision of work are some of the factors that boost the growth of mining equipment in the market. However, government regulations are expected to hinder the market growth to a certain extent.

Mining equipment have widespread demand in the Asia-Pacific, followed by North America, Europe, and LAMEA. The highest share of the Asia-Pacific market is attributed to the increase in investment in the manufacturing sector by market leaders for business expansion.

The metal mining industry accounted for the highest market share in 2018, as the demand for mining equipment is increasing in this industry to perform mining operations efficiently and reduce operational time. Moreover, surface mining equipment and underground mining equipment industries are expected to generate the maximum revenue share throughout the forecast period.

In addition, various leading manufacturers such as Caterpillar and Komatsu occupy prominent revenue share in the mining equipment market. Key companies have focused on collaboration, product launch, and partnership with exceptional product offerings to strengthen their foothold in the market. For instance, Komatsu acquired Joy Global Inc, a leading mining and construction equipment manufacturer, to strengthen capabilities in mining equipment manufacturing.

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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