Press release
Mining Machinery Market Share, Size, Demand, Key Players by Forecast 2032
Mining Machinery Market
Mining is the process of removing materials from the ground, including coal, metals, minerals, water, and oil. The market is divided into metal mining, mineral mining, and coal mining according to application. Mineral processing equipment, surface mining equipment, underground mining equipment, mining drills & breakers, crushing, pulverising, & screening equipment, and other forms of mining equipment are all featured in the study. There are several pieces of mining equipment used in mining operations, including excavators, haulers, articulated dump trucks, crawler dozers, and crawler excavators.
The need for mining equipment for uses like metal mining, coal mining, and mineral mining is on the rise, and this is what is driving the growth of the mining equipment market in areas like Asia-Pacific and Europe. An increase in urban population drives up demand for oil and natural resources, which is predicted to drive up demand for mining equipment and propel the expansion of the mining equipment market. For instance, around 590 million people worldwide are anticipated to move into metropolitan areas by 2030.
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In addition, during the next 20 years, developing economies like Asia and Africa are expected to account for more than 50% of global urban expansion. Global industrialisation and urbanisation are on the rise, which is one of the major variables that fuel market expansion. Population has increased significantly during the past several years, which has increased mineral consumption. A further factor supporting the boom in mineral demand is an increase in household earnings, which is beneficial for the market's expansion.
The demand for affordable, energy-efficient renewable energy sources like solar energy rises due to the finite supply of fossil fuels and strong government regulations on lowering carbon emissions, which drives the market's expansion. Global mining equipment market expansion is fueled by a rise in urbanisation and industrialisation in developing nations like Germany, France, and the United States. For instance, from 2017 to 2019, the level of urbanisation in the United States rose by 0.4%.
Collaboration and product launch are major companies like AB Volvo Group, Deere & Company, and others are embracing as a key development strategy to expand the geographic presence of the mining equipment goods. For instance, Hitachi and Deere worked together at a CONEXPO exhibit in March 2020. Each manufacturer displayed a variety of excavators at the exhibit. The wheel excavators ZX245USLC-6 and ZX345USLC-6 from Hitachi were on display. The cooperation intends to enhance the mining equipment product line. To suit client needs, they blended the power of Hitachi's hydraulic excavator technology.
However, it is projected that changes in the price of raw materials and rigorous government restrictions and customs would impede the expansion of the worldwide industry. Additionally, it's projected that rising demand for cutting-edge mining equipment would create profitable prospects for the growth of the global mining equipment market.
Market Segmentation:
Equipment Type:
· Surface Mining Equipment
o Electric Shovels
o Excavators
o Dumpers
o Loaders
o Others
· Underground Mining Equipment
o Loaders
o Trucks
o Drillers
o Roof Bolters
o Others
· Crushing, Pulverizing, & Screening Equipment
o Crushers
o Screeners
o Others
· Others
Application:
· Coal
· Mineral
· Metal
· Others
Region:
· North America
· Europe
· Asia-Pacific
· Latin America
· Middle East and Africa
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Competitive Landscape:
Some of the key players operating in the global mining machinery market are:
Caterpillar Inc.
Komatsu Ltd.
Hitachi Construction Machinery Co. Ltd.
Sandvik AB
Joy Global Inc.
Volvo Construction Equipment AB
Atlas Copco AB
Liebherr-International AG
Metso Corporation
Outotec Oyj
These companies are focusing on expanding their product portfolios, increasing their market share through strategic mergers and acquisitions, and investing in research and development activities to introduce new and innovative products in the market. They are also investing in advanced technologies such as autonomous trucks and drilling systems to increase efficiency and safety in mining operations. Additionally, companies are focusing on developing eco-friendly and energy-efficient machinery to reduce carbon footprint and comply with environmental regulations.
Global Mining Machinery Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Mining Machinery market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
Frequently Asked Questions
• What is the market size and growth projections?
• What is the market size and growth projection for each of the market segments and sub-segments across Countries & Regions?
• What are the top performing segments, and countries / regions of each of the markets?
• What is the market size and growth rate across key countries / regions?
• How big is the global & regional market in terms of revenue and volume?
• How far market will grow in forecast period in terms of revenue and volume?
• What factors will influence demand and supply trends across each markets during the forecast period?
• What are the technology trends shaping various markets?
• Which country / region has more opportunities?
• What is the COVID-19 impact on the market and how long will it take to recover?
• Who are the key competitors of market Players?
• What are the market share (%) of Key Players?
• What are the Merger & Acquisition, New Product Launch, Recent Development within each of the Markets?
• What are PEST analysis, Ecosystem Analysis, Porter's Five Forecast Analysis, Ansoff Matrix, and SWOT Analysis among other analyses for diverse markets?
Key Benefits For Stakeholders
The report provides an extensive analysis of the current and emerging global mining equipment market trends and dynamics.
In-depth mining equipment market analysis is conducted by global market estimations for the key market segments between 2020 and 2030.
Extensive analysis of the global mining equipment market share is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
The global mining equipment market forecast analysis from 2021 to 2030 is included in the report.
The key market players within market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the global.
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Analytics Market Research is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep rooted market studies and insightful analysis of different markets.
Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. Analytics Market Research is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.
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