Press release
Global Underground Mining Equipment Market to Reach a Valuation of USD 30,406.6 Million by 2023
Market Segmentation:
• By Type of Mining Method; Longwall Extraction and Room & Pillar Extraction
• By Application; Coal mining, Metal mining, and Mineral mining
• By Region
Market Highlight:
The key drivers for the growth of the underground mining equipment market are increased demand of coal from energy sector, growing demand of metal by manufacturing industries and supportive government policies. On the basis of application, coal mining accounted for the largest market share of 43.44% in 2016. The share is attributed to the increasing demand of coal by energy and power sector, especially from the emerging nations such as Brazil, and India. The countries have shown positive growth indicators in last few years and thus have become major consumers of power and energy due to rapid urbanization and industrialization. Furthermore APAC contributes largely to the overall market share of underground mining equipment market. However, factors such as stringent regulations on the use of coal and unavailability of skilled labor is expected to hamper the growth of the market. The global underground mining equipment market size is expected to reach USD 30,406.6 million by 2023 and is projected to grow at 7.13% CAGR during the forecast period.
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Key Players:
The key players of the global underground mining equipment market include-
• Komatsu Ltd.
• Caterpillar Inc.
• Sandvik AB
• Volvo AB
• Thyssenkrupp AG
• Liebherr - International Deutschland GmBh
• Hitachi Construction Machinery Co. Ltd.
• Metso Corporation
• FLSmidth Group
• Kennametal Inc.
• Boart Longyear Ltd.
Target Audience:
• Manufactures
• Raw Materials Suppliers
• Aftermarket supplier
• Research Institute / Education Institute
• Potential Investors
• Key executive (CEO and COO) and strategy growth manager
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Study Objectives of Global Underground Mining Equipment Market
• To provide detailed analysis of the market structure along with forecast for the next 10 years of various segments and sub-segments of the global underground mining equipment market
• To provide insights about factors affecting the market growth
• To analyze the global underground mining equipment market based on various factors- price analysis, supply chain analysis, porters five force analysis etc.
• To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, APAC, Latin America and Middle East & Africa
• To provide country level analysis of the market with respect to the current market size and future prospective
• To provide country level analysis of the market for segment by type of mining method, application and by Region.
• To provide strategic profiling of the key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
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Regional Analysis of Global Underground Mining Equipment Market
APAC accounts for the largest market in the global underground mining equipment market. Countries like China, India, Australia, Indonesia and others dominate Asian mining sector. The countries are also major global producers of commodities such as gold, diamonds, base metals, coal, among others. The region is not only the major producer but also one of the leading consumers of the metal and minerals. China accounted for the largest market share of 67.67% in the APAC underground mining equipment market in 2016.
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Akash Anand,
Market Research Future
Office No. 528, Amanora Chambers
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+1 646 845 9312
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