Underground Mining Equipment Market 2021 (Covid-19 Analysis) Major Factors That Can Increase the Worldwide Demand
The Underground Mining Equipment Market research report discusses the key drivers influencing global growth, opportunities, current challenges and the risks faced by key players and the market as a whole Underground Mining Equipment Market competitive landscape provides details by vendors, including company overview, company total revenue (financials), market potential, global presence, sales and revenue generated, market share, price, production sites and facilities, SWOT analysis, product launch.The Underground Mining Equipment market is envisaged to record an expansion at the CAGR of 35.28% over the forecast period, 2021 – 2027
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Market Overview
The COVID-19 pandemic had an immediate impact on the global economy, and that impact goes across all industries, including mining. Significant price drops were observed across major commodities, while in some cases, prices remain passive. For example, the demand for metallurgical coal and thermal coal has decreased, while the demand for gold and iron ore has increased. However, the market is expected to witness significant growth during the forecast period, as the increasing use of electric machinery in underground mining and increasing demand for metals and commodities occupy a major share in the market. The increasing need for mineral fertilizers to improve agricultural yield and the rise in construction of roads and railway tracks through hilly areas are expected to fuel the demand for mining activities in emerging countries such as India and China.
The major players covered in Underground Mining Equipment Market:
Caterpillar, Komatsu (Joy Global), Volvo, Hitachi Construction Machinery, Sandvik, Atlas Copco, Metso, ThyssenKrupp, Liebherr-International, ZMJ, FLSmidth, Doosan Infracore, China Coal Group
Recent Development
FLSmidth A/S’s largest acquisition to date was in 2007, when it acquired Laperrière & Verreault Process Division for $747M. It’s largest disclosed sale occurred in 2015, when it sold Cembrit Holding A/S to Solix Group AB for $166M. FLSmidth A/S has acquired in 5 different US states, and 9 countries. The Company’s most targeted sectors include machinery (78%) and business services (10%).
Market segmentation
Underground Mining Equipment Market is split by Type and by Application. For the period 2021-2027, the growth among segments provides accurate calculations and forecasts for sales by Type and by Application in terms of volume and value.
Underground Mining Equipment Breakdown Data by Type
Longwall
Room and Pillar
Underground Mining Equipment Breakdown Data by Application
Coal Mining
Metal Mining
Mineral Mining
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Asia-Pacific Dominates The Market
Asia-Pacific is likely to lead the mining equipment over the forecast period. Many developing countries in the region have sizable coal-producing areas and significant coal and metal mining industries that need a substantial level of capital investment. Increasing demand for lower emissions, low cost, and high energy-efficiency machines is being witnessed in the region. Asia-Pacific will dominate the mining equipment market due to its abundant deposits. This region offers a number of opportunities for the mining companies, as there is significant scope for the exploration of bauxite, iron ore, and coal. In contrast, North America will witness its growth rate due to advancement in automotive technology, and the region is home to large deposits of copper, gold, and iron, which provides exploration opportunities.
Regions and Countries Level Analysis
Regional analysis is another highly comprehensive part of the research and analysis study of the Underground Mining Equipment Market presented in the report. For the historical and forecast period 2016 to 2027, it provides detailed and accurate country-wise volume analysis and region-wise market size analysis of the global market.
The report offers in-depth assessment of the growth and other aspects of the Underground Mining Equipment Market in important countries (regions), including: North America (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, etc.), Middle East & Africa (Saudi Arabia, Egypt, Nigeria and South Africa) and ROW.
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Table of Contents:
Global Underground Mining Equipment Market Research Report 2021
Chapter 1 - Market Overview
Chapter 2 - Industry's Global Economic Impact
Chapter 3 - Manufacturers' Global Market Competition
Chapter 4 - Revenue (Value) by Region for Global Productions
Chapter 5 - By Regions: Global Provisions (Production), Consumption, Export, and Import
Chapter 6 - Productions in the World, Revenue (Value), and Price Trends by Type
Chapter 7- Global Market Analysis by Application
Chapter 8 - Manufacturing Cost Analysis
Chapter 9 - Industrial Chain, Sourcing plan and Downstream Buyers
Chapter 10 - Marketing Strategy Analysis, Distributors/Traders
Chapter 11- Market Effect Factors Analysis
Chapter 12- Global Underground Mining Equipment Market Forecast
Impact of Covid-19:
The COVID-19 pandemic had a minor impact on the Underground Mining Equipment Market's growth. The emergence of COVID-19 has caused a substantial setback to export-oriented economies in the region, owing to the temporary shutdown of manufacturing enterprises. For example, Germany's automotive industry has been seriously harmed because the majority of the country's automobile commerce is with China and Italy. Aside from concerns with exports and imports, the growth of Germany's manufacturing industry has been limited by the closure of production sites and a slowdown in operations to combat COVID-19's spread.
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