Mining is an extraction process of obtaining coal, minerals, and metals from the earth. It is an important sector of the world economy, which generates employment and provides innumerable resources to other industries. Petroleum, coal, and natural gas are majorly extracted during mining, in addition to various substances comprising uranium, diamond, stone, rock, various chemicals, and geologically deposited substances.
Major factors that boost the demand of mining equipment are rising demand for metal and mineral commodities and increasing consumption of natural resources, such as coal, diamond, and uranium. Moreover, increasing need for mineral fertilizers to improve agricultural yield, supplements the global mining equipment market. Major challenges for the players operating in the market are increasing cost of raw materials and strict government regulations. However, the rising demand for technologically advanced mining equipment, increasing usage of coal for heating and electricity-generating applications and the increasing construction of road and railway tracks through hilly areas, present various opportunities for the market growth.
The world mining equipment market is segmented on the basis of equipment type, application, and geography. By equipment type, the market is further categorized into five segments, namely as mineral processing equipment, surface mining equipment, underground mining equipment, mining drills & breakers, ‘crushing, pulverizing, & screening equipment’ and others. By application, the market is segmented as metal ore mining, mineral mining, and coal mining. Geographically, the classification includes North America (U.S., Canada, Mexico), Europe (U.K., Germany, France, Russia & Rest of Europe), Asia-Pacific (China, India & Rest of APAC) and LAMEA (Brazil & Middle East & Africa). Asia-Pacific is anticipated to be the largest market of mining equipment during the forecast period.
Companies profiled in the report are Caterpillar Inc., Komatsu Ltd., Sandvik, Joy Global, Hitachi Construction Machinery Co. Ltd., Atlas Copco, Volvo Construction Equipment, Doosan Heavy Industries & Construction, Metso and Liebherr Group.
- The report provides a comprehensive analysis of the current trends and future estimations in the world mining equipment market to identify the potential investment pockets.
- The report presents information regarding key drivers, restraints, and opportunities with a detailed impact analysis.
- Quantitative analysis of the current trends and forecasts from 2016 to 2022 is provided to showcase the financial competency of the market.
- Porter’s Five Force model of the industry and SWOT analysis illustrate the potency of the buyers & suppliers.
- Value chain analysis provides a clear understanding of the roles of stakeholders involved.
MINING EQUIPMENT MARKET KEY SEGMENTSBY TYPE
- Mineral processing equipment
- Surface mining equipment
- Underground mining equipment
- Mining drills & breakers
- Crushing, pulverizing, & screening equipment
- Metal ore mining
- Mineral mining
- Coal mining
- North America
- Rest of Europe
- Latin America
- Caterpillar Inc.
- Komatsu Ltd.
- Joy Global
- Hitachi Construction Machinery Co. Ltd.
- Atlas Copco
- Volvo Construction Equipment
- Doosan Heavy Industries & Construction
- Liebherr Group