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Mining Equipment Market Report 2023-2032: Market Size, Share, Growth Analysis And Forecast Report | Caterpillar Inc., Deere & Company, Hitachi Construction Machinery Co. Ltd., Komatsu Ltd., Liebherr-International AG
Mining Equipment Market
The Business Research Company's Mining Equipment Global Market Report 2023 identifies increase in mining activities as the major driver for the Mining Equipment market's growth in the forecast period. Mining activity refers to the process of removing valuable minerals, industrial rock deposits, non-metallic mineral deposits, or metallic mineral deposits from the earth's surface, including the oceans.
The global mining equipment market size is expected to grow from $129.40 billion in 2022 to $140.30 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global mining equipment market size is expected to reach $187.14 billion in 2027 at a CAGR of 7.5%.
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Major competitors in the Mining Equipment market are Caterpillar Inc., Deere & Company, Hitachi Construction Machinery Co. Ltd., Komatsu Ltd., Liebherr-International AG.
A key trend in the Mining Equipment market includes Product innovation. Major companies operating in the mining equipment market are focused on developing new technological solutions to strengthen their position. For instance, in March 2020, Sandvik AB, a Sweden-based company specializing in the manufacturing of mining and construction equipment, launched a new battery-electric truck. This new truck is combined with breakthrough battery technology and electric drivelines, which has a payload capacity of 50 tonnes. The truck is expected to use advanced battery technology with less heat and zero diesel emissions, purpose-designed battery chemistry, and regenerative braking to recharge the battery. The electric drivetrain delivers 560 kW of power and 6000 Nm of total torque output, which allows for higher ramp speeds and shorter cycle times with an efficient ore-moving process.
Read More On The Global Mining Equipment Market Report Here:
https://www.thebusinessresearchcompany.com/report/mining-equipment-global-market-report
The Mining Equipment market is segmented -
1. By Product: Mining Drills And Breakers, Crushing, Pulverizing And Screening Equipment, Mineral Processing Equipment, Surface Mining Equipment, Underground Mining Equipment
2. By Powertrain Type: IC Engine Vehicle, Electric Vehicle
3. By Application: Metal Mining, Mineral Mining, Coal Mining
4. By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Mining Equipment market.
The Business Research Company's "Global Mining Equipment Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Mining Equipment Market Include:
1. Executive Summary
2. Mining Equipment Market Characteristics
3. Mining Equipment Market Trends And Strategies
4. Mining Equipment Market - Macro Economic Scenario
5. Mining Equipment Market Size And Growth
……
26. Africa Mining Equipment Market
27. Mining Equipment Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Mining Equipment Market
29. Mining Equipment Market Future Outlook and Potential Analysis
30. Appendix
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