$95bn by 2024, Mining Equipment Market Study Report 2018-2024
Mining Equipment Market is expected to be around USD 100 billion by 2024. Increasing investments in developing innovative and smart solutions will drive the mining machinery 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. 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.
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. 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.
Request a sample copy of this research report: https://www.gminsights.com/request-sample/detail/793
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. For instance, 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.
The applications of these machines for mineral extraction are expected to grow owing to the rising demand for fossil fuels in several application areas. Growing demand for crude oil, natural gas, and coal for energy generation is expected to drive the extraction process. Countries including China, Ukraine, Colombia, Australia, and Russia are the largest producers of fossil fuels. These countries are witnessing a high adoption of mineral processing machinery thereby driving the mining equipment market. The global production and consumption of these minerals are increasing rapidly. Crude oil is the largest energy source that accounts for around 39% of fossil energy.
Request of customization: https://www.gminsights.com/roc/793
Major companies participating in the mining machinery market are: Atlas Copco AB, Caterpillar Inc., Metso Corporation, Komatsu Ltd., Joy Global, Inc, Hitachi Co., Ltd., Sandvik AB, AB Volvo, Doosan Group, 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, and Techint Group. Among others. 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.
Table of contents for this research report@ https://www.gminsights.com/toc/detail/mining-equipment-market
Corporate Sales, USA
Global Market Insights, Inc.
Toll Free: 1-888-689-0688
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.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release $95bn by 2024, Mining Equipment Market Study Report 2018-2024 here
News-ID: 2276790 • Views: 275
More Releases from Global Market Insights
Acoustic Diaphragm Market slated to observe traction for polypropylene material …
With a seismic rise in the demand for consumer products such a loudspeakers, mobile phones and earphones, acoustic diaphragm market size is slated to surge in the next five years. Notably, acoustic diaphragm tends to inter-convert mechanical vibration to sounds and has become highly popular in headphones and speakers. Market penetration of materials such as paper, polycarbonate, polypropylene, carbon fiber and aluminum has become more pronounced in the past several
How will increasing demand for stainless steel transform the Ferroalloys Market …
One of the recent breakthroughs in the global ferroalloys market is the potential acquisition of Ferro Alloys Corporation by Vedanta- a natural resource company early this year. As per reliable sources, the acquisition is expected to complement Vedanta’s current steel business considering the fact that integration of Ferro manufacturing capabilities would offer the possibility to generate significant efficiencies. Meanwhile, yet other company, Boston Metal has declared having raised over USD 20
Polyphenylsulfone Market 2021 | Regional Insights & Growth Forecast To 2025
The polyphenylsulfone market will witness significant expansion with the rise in healthcare concerns and the growing requirement for biocompatible products. Polyphenylsulfone is a high-performance thermoplastic that is amorphous, heat-resistant, and transparent. It showcases high sterilization properties and is widely employed as an alternative for polyetheretheketone and polyaryletherketone. Furthermore, the polymer sees large adoption across various verticals of the healthcare sector to offer superior dimensional stability and higher resistance against
Cosmetic Contact Lens Market 2021: Industry Growth, Competitive Analysis, Future …
Increasing trend of using colored contact lenses may have a positive impact on cosmetic contact lens market outlook. Rising popularity of customized lenses with attractive colors, shades and textures for improving eye appearance is likely to propel industry size. Proliferation of entertainment, online and social media platforms are helping boost the adoption of such lenses. Cosmetic contact lenses are available in several colors such as blue, green, brown, hazel, grey, violet
More Releases for Equipment
Battery Testing Equipment Market
2019-2025 Battery Testing Equipment Market Report with Depth Analysis Technological advancements such as lead-acid batteries with increased life cycle and better efficiency have increased the demand for rechargeable batteries. More than ever before, these rechargeable batteries have increased the demand for portable products such as powered tools, et cetera. Request For Free report Sample -https://www.reportsmonitor.com/request_sample/292961 Scope of the Report: Furthermore, Battery Testing Equipment Market report discusses the key drivers influencing market growth, opportunities, the challenges and the risks
Defence Equipment Packaging Market
Global Defence Equipment Packaging Market: Overview The global defence industry has undergone significant transformation in the past few decades. The dynamic nature of the defence industry can be determined from the fact that defence electronics become obsolete in a matter of years. Defence electronics comprises all the sophisticated systems integrated with tactical equipment. It is anticipated that the advent of modern technology, coupled with rapid progress of R&D teams across the
Solvent Recycling Equipment Market
Solvent Recycling Equipment Market: Introduction The Solvent Recycling Equipment separates accumulated sand particles and hydrocarbons from solvent using distillation process to turn solvent waste back into functioning solvent. It can recycle most solvents used in processes such as electroplating, metal finishing, paint and powder coating, parts washing and vapor degreasing ultimately reducing new solvent cost as well as disposing issues. From end user point of view, purchasing a Solvent Recycling Equipment
Ground Support Equipment
Global Ground Support Equipment Industry Global Ground support equipment market is accounted for $11.8 billion in 2015 and is expected to reach $20.06 billion by 2022 growing at a CAGR of 11.0%. Increasing number of air passengers and high expenditure by airport authorities on eco friendly ground support equipment to improve their operational efficiency are some of the factors driving the market. However, usage of worn equipment is restricting the market
Agricultural Equipment Market
Persistence Market Research’s report, titled “Agricultural Equipment Market: Global Industry Analysis and Forecast, 2016-2024,” estimates the market’s present value at a little over US$ 100 Bn, anticipating it to incur a sluggish growth a 3.5% CAGR. During this forecast period, the global agricultural equipment market is also likely to witness slower growth in terms of volume. After recording an estimated global sales of over 5,596.5 thousand units of agricultural equipment
Dental Equipment Market
The Global Dental Equipment Market was valued at US$ 6,342.3 million in 2015 and is projected to expand at a CAGR of 4.7% during 2016–2024,according to a new report published by Coherent Market Insights.Increasing prevalence of poor oral health is increasing patient visits to dental clinics and in turn, is increasing demand for dental equipment. Changing eating habits has led to increase in dental caries and infection among children and adults