Mining Equipment Market Overview:
The global mining equipment market size was valued at $106,853.0 million in 2017, and is expected to reach $188,773.0 million by 2025, growing at a CAGR of 7.2% from 2018 to 2025. Mining equipment are used for extraction of coal, minerals, and metals from the earth. Mining is an important sector of the world economy, the main products extracted during mining are petroleum, coal, natural gas, and water; in addition to various substances such as uranium, diamond, stone, rock, various chemicals, and geologically deposited substances. Mining equipment includes mining drills, earth movers, crushing equipment, dump trucks, wheel loaders, motor graders, and scrapers.
The major factors that boost the demand for mining equipment market include rise in demand for metal and mineral commodities and increase in consumption of natural resources such as coal, diamond, and uranium. Moreover, increasing need for mineral fertilizers to improve agricultural yield is expected to drive the growth of the global mining equipment market. On the contrary, increasing cost of raw materials and strict government regulations are anticipated to restrain the growth of the global market. However, the rise in demand for technologically advanced mining equipment, increase in usage of coal, for heating and electricity-generating applications, and surge in construction of road and railway tracks through hilly areas are expected to provide lucrative opportunities for the growth of the global market during the forecast period.
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The global mining equipment market is segmented on the basis of equipment type, application, and geography. Based on type, the market is categorized into mineral processing equipment; surface mining equipment; underground mining equipment; mining drills & breakers; crushing, pulverizing, & screening equipment, and others. By application, the market is segmented into metal mining, mineral mining, and coal mining. Geographically, the market is analyzed across North America, Europe, Asia-Pacific (APAC), and LAMEA. Asia-Pacific is anticipated to be the largest market for mining equipment during the forecast period. India, Australia, and Indonesia are expected to be the main revenue-generating countries in the Asia-Pacific region.
The companies profiled in the report are AB Volvo, Caterpillar Inc., Deere & Company, Doosan Corporation, Epiroc AB, Hitachi, Ltd., Komatsu Ltd., Liebherr-International AG, Metso Corporation, and Sandvik AB.
Key Benefits for Mining Equipment Market:
The report presents an extensive analysis of the current & emerging market trends and dynamics in the global mining equipment market.
In-depth analysis is conducted by constructing market estimations for the key market segments between 2017 and 2025.
Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive analysis of all regions is provided to determine the prevailing opportunities in these geographies.
Key market players within the mining equipment market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the global market.
Mining Equipment Key Market Segments:
Mineral Processing Equipment
Surface Mining Equipment
Underground Mining Equipment
Mining Drills and Breakers
Crushing, Pulverizing, & Screening Equipment
Rest of Asia-Pacific
Deere & Company