Underground Mining Machinery Market 2021 Growth and Technology Advancements- Komatsu, Bel Company, Joy Global, Sandvik Group, Volvo, Hitachi Construction Machine

The report presents an in-depth assessment of the Underground Mining Machinery Market including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Underground Mining Machinery from 2021 till 2026. The report covers the pre COVID-19 historic data, impact of COVID-19 and post-COVID-19 (Corona Virus) impact on various regions and major countries and on the future development of the industry is pointed out.

The global mining machinery market size is projected to reach USD 37.2 billion by 2027, from an estimated value of USD 29.5 billion in 2021, at a CAGR of 4.5%.

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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Underground Mining Machinery Market: Komatsu, Bel Company, Joy Global, Sandvik Group, Volvo, Hitachi Construction Machine, Boart Longyear Group, Russell Ackoff Company, Singer Smith, Kenner Metal Company, Liebherr Group, Thyssenkrupp and others.

Recent Developments:

In September 2020, The new Cat 963 crawler loader replaced the 963K loader. It is a versatile machine that can dig, load, carry, and fill. It provides up to 10% higher fuel efficiency, productivity, and cab and controllability enhancements. The 963 meets US EPA Tier 4 Final/EU Stage V emission standards. It has 202 HP (151 kW) power and an operating weight of 44,881 lbs (20 358 kg).

In September 2020, Sandvik revealed its AutoMine Concept vehicle which is based on the latest technologies and equipped with completely new sensing capabilities and artificial intelligence to enhance mining operations. The AutoMine Concept perceives its surroundings and environment in 3D and reacts to it in real-time.

In July 2020, Komatsu announced plans to rebrand its underground hard rock equipment, surface wheel loaders, and new range of blasthole 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 blasthole 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. Rather than storing data in individual silos, Edge enables managers to see how activities early in the process impact the value chain. MineStar Edge also leverages cloud computing and recent technology advancements such as data fusion, machine learning, and artificial intelligence. It is expected to continue to grow as it collects data, identifies patterns, and learns to make decisions.

In May 2020, Epiroc received an order from Codelco for the supply of underground loaders, face drill rigs, rock bolting rigs, and mine trucks, as well as several years of technical support and training, for use at the Chuquicamata underground mine project in Chile. The order is valued at more than USD 20 million and was booked in April 2020. The company is transforming the century-old Chuquicamata copper and gold mine from being the world’s largest open-pit mine into a high -technological underground operation. According to Codelco, the transformation is expected to extend the useful life of the mine by 40 years.

Underground Mining Machinery Market Split by Product Types and Applications:

Market Segmented by Types:

Electric Mining Machinery

Hydraulic Mining Machinery

Market Segmented by Applications:

Mining

Chemical

Other

Regional Analysis For Underground Mining Machinery Market:

North America (The United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

Influence of the Underground Mining Machinery Market Report:
-Comprehensive assessment of all opportunities and risks in the Underground Mining Machinery market.
-The detailed study of business strategies for the growth of the Underground Mining Machinery market-leading players.
-Conclusive study about the growth plot of the Underground Mining Machinery market for forthcoming years.
-In-depth understanding of Underground Mining Machinery market-particular drivers, constraints, and major micro markets.
-Favorable impression inside vital technological and market latest trends striking the Underground Mining Machinery market.

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What are the market factors that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

-Analytical Tools: The Global Underground Mining Machinery Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.

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