Mining Equipment Market Size, Status, Global Outlook 2021 To 2026 | Caterpillar(BUCYRUS), Komatsu, Liebherr, Hitachi
Top Companies in the Global Mining Equipment Market:
Caterpillar(BUCYRUS), Komatsu, Liebherr, Hitachi, Terex Mining, Joy Global(P&H), IZ-KARTEX(OMZ), Taiyuan Heavy Industry, SANYI, among others.
Over the next five years, the Mining Equipment market will register a 1.9% CAGR in terms of revenue, the global market size will reach US$ 1420.7 million by 2026, from US$ 1319.4 million in 2020.
The Mining Equipment includes the consumption of underground mining equipment and Surface mining equipment, such as crushing, pulverizing, and screening machinery, portable drilling rigs, and parts, portable crushing, screening, washing and combination plants, drills, and other machinery (except parts). Mining, as an industry, involves huge capital investment and among the total, over one-third is for equipment. Any country which hosts mining operations is bound to have monetary, labor employment, and local industry benefits. Among the beneficiaries, equipment and service suppliers accrue the majority of the benefits from any particular mining activity in the country.
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As Chinese overall economic downward trend in the past few years and the international economic situation is complicated, in the next few years there will be many uncertainties, and coupled with the Mining Equipment industry in short supply on the market in the past few years, more and more companies enter into Mining Equipment industry, the current demand for Mining Equipment product is relatively low, lack of demand, excess supply. Ordinary Mining Equipment products on the market do not sell well; Industrial Mining Equipments price is lower than in past years. The signal of market price change indicates the trend in the Mining Equipment industry, low-end product has excess capacity; the high-end product is in short supply.
The Asia-Pacific region has been witnessing a rise in extraction and mining of metals and minerals, owing to rapid industrialization & technological advancements, urbanization, and rising energy demands. The mining industry in Asia-Pacific exhibits large-scale excavation because of the advances in the technology of mining equipment.
With the rise in consumption of base metals and precious metals in numerous applications, the mining activities of these metals have increased, especially in countries, such as Canada and Mexico. Furthermore, the mining industry in the Asia-Pacific region has also been continually growing in countries, such as Australia, China, and India, in turn, propelling the demand for mining equipment.
During 2017-18, Canada alone had 22% of the active mineral exploration sites globally, followed by Australia with 20% and Africa with 12%.
The global mining equipment market is characterized by the presence of numerous international and regional players in the market, resulting in a highly competitive market environment. The top six players in the market account for more than 70% of the market share as of 2018.
In July 2020, Komatsu announced plans to rebrand its underground hard rock equipment, surface wheel loaders, and the new range of blast hole drills to reflect the company’s united focus on growth in these areas. It introduced a few products during its rebranding. The first rebranded product, the Komatsu ZT44 track drill, was launched at CONEXPO-CON/AGG 2020 in Las Vegas in March 2020. Rebranding as Komatsu, all surface wheel loaders, new blast hole drills, and all underground hard rock equipment, expands the Komatsu brand in mining.
In May 2020, Caterpillar added a new platform, MineStar Edge, to augment the Cat MineStar Solutions suite of technologies. MineStar Edge offers an operational ecosystem for mining companies.
The Mining Equipment market can be divided based on product types and It’s sub-type, major applications and Third-Party usage area, and important regions
This report segments the global Mining Equipment Market based on Types are:
Mineral Processing Equipment
Surface Mining Equipment
Underground Mining Equipment
Mining Drills & Breakers
Crushing, Pulverizing, & Screening Equipment
Based on Application, the Global Mining Equipment Market is Segmented into:
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Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), and market share and growth rate of Mining Equipment Market these regions, from 2020 to 2026 (forecast), covering
North America, Europe, China, Japan, Southeast Asia, India, North America (USA, Canada, and Mexico) Europe (Germany, France, UK, Russia, and Italy) Asia-Pacific (China, Japan, Korea, India, and Southeast Asia) South America (Brazil, Argentina, Columbia, etc.), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa).
The Total Addressable Market (TAM) For estimating the market size two approaches are used: Bottom-up and Top-down approach. In the Bottom-up approach, the consumption of the various segments is taken into account. The regional, segment-wise, and end-user uptake/consumption is taken into account for this approach. This is then totaled to arrive at the TAM for this approach. In the Top-down approach, the company-wise production in terms of both value and volume is taken into account and totaled for arriving at the TAM. This data is then bifurcated based on the consumption in the various market segments.
Significant Features that are under Offering and Key Highlights of the Reports:
-Detailed overview of Mining Equipment Market
-Changing the Mining Equipment market dynamics of the industry
-In-depth market segmentation by Type, Application, etc.
-Historical, current, and projected Mining Equipment market size in terms of volume and value
Recent industry trends and developments
-Competitive landscape of Mining Equipment Market
-Strategies of key players and product offerings
-Potential and niche segments/regions exhibiting promising growth.
Frequently Asked Questions about the Mining Equipment market:
- What are the recent developments and government policies?
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- What is the growth rate of the market?
- Which Is the Most potential market segment?
- Which are the top industry players in the Mining Equipment market?
- Which region would offer high growth for vendors in the market?
The report has 150 tables and figures browse the report description and TOC
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Global Mineral Processing Equipment Market Growth 2020-2025
Global Surface Mining Equipment Market Research Report 2021
Global Underground Mining Equipment Market Insights And Forecast To 2027
Global Crushing, Screening, And Mineral Processing Equipment Market Growth 2021-2026
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