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Mining Equipment Market Trend 2019- 2024, Key Manufacturers: Atlas Copco, Caterpillar, Metso Corporation, Sandvik, Doosan Group

05-29-2019 06:45 PM CET | Industry, Real Estate & Construction

Press release from: Global Market Insights Inc.

Mining Equipment Market

Mining Equipment Market

Increasing health & safety concerns about the workers are propelling the adoption of automated solutions in the mining equipment market. Several countries including the U.S., Germany, and France are developing machine safety regulations for the safety of the industrial laborers. For instance, the European Act of 1986 on health and safety outlines several guidelines for the protection of workers from hazardous industrial environments. Such regulations are promoting companies to adopt effective solutions developed for reducing the chances of workplace accidents.

Mining Equipment Market is expected to be around USD 100 billion by 2024. Several players are engaged in developing IoT-based equipment for remote monitoring and control. It was estimated that around 40% of the manufacturers in the industry are planning to implement IoT-connected technologies for performing extraction activities.

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The manufacturers in the mining machinery market are providing several safety features and functions in these machines including gas detection system, wireless personnel tracking, conveyor belt monitoring and ground control, and strata management systems. Increasing investments in developing innovative and smart solutions will drive the mining equipment market. Rising demand for advanced extraction solutions is encouraging the players to increase their R&D activities to cater to the requirement of the customers. The industry is witnessing a growing demand for connected technologies for monitoring the industrial processes.

Drills & breakers are experiencing a high adoption in the mining equipment market with an increase in surface and underground extraction activities. The application of rotary blasthole drills for coal and metal mining processes is growing rapidly. Manufacturers in the mining machinery market are developing customized solutions based on the specifications of the companies.

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Major companies participating in the Mining Equipment Market are:
• Atlas Copco
• Caterpillar Inc.
• Metso Corporation
• Komatsu Ltd.
• Joy Global Inc
• Hitachi Co. Ltd.
• Sandvik
• AB Volvo
• Doosan
• Astec Industries Incorporated
• Wirtgen Group Holding GmbH
• Bell Equipment Limited
• Liebherr Group
• Bradken Limited
• CNH Industrial N.V.
• China Coal Energy Company Limited
• Hyundai Heavy Industries Company Limited
• Corum Group
• RCR Tomlinson Limited
• Kopex SA
• Terex Corporation
• Techint Group

The players in the mining equipment market are offering their solutions to several regions where a high availability of mineral resources is being witnessed. Companies are adopting several strategies to capture a widespread customer base in the mining machinery market. For instance, in June 2011, Caterpillar, Inc. announced the acquisition of Bucyrus International, Inc. to expand its business operations.

Sandvik AB is providing 1190E Rotary Blasthole Drill Rig, which is an electric-powered equipment designed specifically for coal extraction processes. The Asia Pacific region is witnessing a high adoption of these solutions owing to the favorable policies regarding the export of metals and minerals. Countries including India, China, and Australia are among the largest coal producing economies of the world.

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About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com/

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