Mining
Equipment Market Insights
The mining equipment
market is estimated to grow at a significant CAGR during the forecast period.
Increased development of electric and autonomous mining, upcoming emission
regulations, and increase in demand for minerals and metals are some of the
major factors driving the market growth of mining equipment. The mining
industry is currently witnessing a positive phase, with increase in commodity
price, and augmented demand for raw material is further expected to boost the
market growth. However, growth of the market is majorly driven by the increased
demand of high priced metals like copper, gold, and other ores.
Growing drilling and
exploration activities across the world is one of the major factors which are
expected to drive the market growth over the forecasted period. Increased
investments and adoption of automated technologies in the sector has directed
to the improved use of connected and smart solutions. Furthermore the market
has also witnessed the adoption of big data analytics which helped in reduction
of operational costs and improved processes. Data analytics is used in many
phases involved in mining processes to ensure workers safety and security,
facilitate smart collaboration, and smarter procurement of equipment.
 |
Request a free sample copy of this report @: https://www.globalmarketestimates.com/global-mining-equipment-market-size
Mining
Equipment Market: By Equipment Category
The mining equipment
market can be segmented based on equipment Category into crushing, pulverizing
& screening equipment, drills & breakers, mineral processing equipment,
surface mining equipment, and underground mining equipment. The crushing,
pulverizing and screening equipment segment is expected to hold the largest
market share during the forecast period. The equipment is used to break down
large stones, rocks and other materials into smaller pieces. In general
crushing equipment is a part of material handling plants. There are different
types of crushers and each of them serves their unique purpose such as jaw,
cone, glass, split feed, stone, and gyratory crushers. The screening equipment
finds its application in separation of materials from each other. These
equipment are most important and essential equipment, hence they are readily
used in the mining and exploration activities. However, underground equipment
is anticipated to be the fastest growing mining equipment because of increased
closed mining activity in search of precious metals and minerals.
Mining
Equipment Market: By Industry
The mining equipment
market can be classified on the basis of industry into metals, minerals, and
coal. Metal mining industry is anticipated to witness a steady growth during
the forecast period owing to increase in disposable income and improved
standard of living which has fueled the demand for high priced metals such as
silver, gold, platinum among others. Other metals such as zinc, lead, aluminum,
nickel and copper are increasingly used in several industrial sectors such as
chemical, construction, and energy and utility in order to perform
manufacturing operations.
Mining
Equipment Market: By Propulsion
The mining equipment
market can be segmented on the basis of propulsion type into diesel, gasoline,
and CNG/LNG/others. Diesel segment is expected to hold the largest market share
in the forecasted period owing to better fuel economy and better acceleration
over gasoline and others. However, CNG/LNG/others is anticipated to witness
highest CAGR during the forecast period owing to its unique properties such as
the cleanest burning fuel, thereby emitting fewer greenhouse gas and tailpipe
emission, reduced fuel cost, performance advantage under both hot or cold
weather condition, safety advantage, and favorable government regulations among
others.
Mining
Equipment Market: Regional Insights
Asia Pacific is
expected to hold the largest market share in terms of revenue during the
forecast period. The market has witnessed growth in the region because of
increasing mining activities to fulfill the demand for raw materials. Moreover
many international companies have also increased their presence in the region
due to growing mining and exploration activities in the region. The major
factor behind the growth of Asia Pacific mining equipment market can be accredited
to the economic growth and development of emerging economies such as India,
China, and Australia among others. Other factors such as new projects of
thermal power energy have drastically increased the demand for coal mining in
China. Presence of small players in Asia Pacific region is also expected to
increase the demand of mining equipment in the region. Increased investment and
innovation by the key market players have boosted the market of mining
equipment. North America is expected to hold the second largest market share in
terms of revenue, followed by Latin America and Africa. High disposable income
of the population coupled with favorable government schemes, has increased the
demand for precious metal in these regions which in turn is anticipated to
increase the mining equipment market in the region.
Mining
Equipment Market: End-Use Landscape
The end-use landscape
entails a list of current and prospective consumers prevailing across the
regions. This section provides company addresses, contact details, products,
and regional presence of companies who are purchasing or are likely to purchase
mining equipment over the coming years. Some companies which are currently
using mining equipment and are likely to purchase it in future such as Fresnilo,
Anglo American, Newmount Mining, Coal India, Barrick Gold, and Vale among
others
Mining
Equipment Market: Vendor Landscape
The report contains a
chapter dedicated to vendors operating in the market, covering raw material
manufactures, equipment developers, manufacturers, and distributors. The report
provides these insights on a regional level. This section of the report entails
contact details, experience, products manufactured/supplied, and geographical
presence of companies.
Mining
Equipment Market: Share & Competitor Analysis
Some of the key players operating in the mining equipment market
are Komatsu, Caterpillar,
Volvo Construction Equipment, Sandvik, Doosan Infracore, Liebherr, Caterpillar
and Atlas Copco AB among others.
In July 2018, Sandvik
announced that they have signed an agreement to acquire Inrock, the company is
one of the leading suppliers of rock drilling tools and services for Horizontal
Directional Drilling in North America.
In March 2018,
Liebherr developed and established a new facility in Rognac, France. The
facility is built over an area of 43,000 square meters.
In April 2017,
Komatsu successfully acquired Joy Global for USD 3.7 billion; the company is
engaged in the manufacturing of underground mining equipment.
Browse this report @:
https://www.globalmarketestimates.com/global-mining-equipment-market-size
No comments:
Post a Comment