Mining is the process of extracting coal, metals, oil, minerals, and water from the earth. Other valuable products such as diamond, gold, uranium, and ruined geological deposits are also being mined from the earth using various mining equipment. Some of the major mining equipment mostly used during the digging process includes dozers, excavators, loaders, earthmovers, drills, dump trucks, graders, and scrapers. Rise in construction and real estate has increased mining activities throughout the globe, supplementing the demand for technologically advanced mining equipment.
Rising demand for metal and mineral commodities, and increase in consumption of natural resources such as petroleum, diamonds, and gold, are the major factors driving the global mining equipment market. Moreover, increased demand for fertilizers in cultivation of crops has also fueled the market growth. However, high maintenance cost and strict government regulations would hamper the market growth. Increasing construction of road and railway tracks and fueling demand for coal in generating electricity would generate new business opportunities for the market in near future.
The mining equipment market is segmented by type, application and geography. By type, the market is bifurcated into surface mining equipment, underground mining equipment, mineral processing equipment, mining drills & breakers, crushing, pulverizing, & screening equipment, and others. In terms of application, the market is categorized into metal mining, coal mining, and mineral mining. Geographically, the market is segmented into North America, Europe, Asia Pacific and Rest of the world.
Companies profiled in the report are Caterpillar Inc., Metso, Komatsu Ltd., AB Volvo, Sandvik, Joy Global, Hitachi Co. Ltd., Atlas Copco, Liebherr Group, and Doosan Group.
The key takeaways from the report
- The report will provide detailed analysis of mining equipment market with respect to major segments such as type and application of the market.
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2022 and compound annual growth rate (CAGR) between 2016 and 2022.
- Comprehensive analysis of market dynamics including factors and opportunities.
- An exhaustive regional analysis of mining equipment market.
- Profile of key players of the mining equipment market, which include key financials, product & services and new developments.
Scope of Mining Equipment Market
- Surface mining equipment
- Underground mining equipment
- Mineral processing equipment
- Mining drills & breakers
- Crushing, Pulverizing, & Screening equipment
- Metal mining
- Coal mining
- Mineral mining
- North America
- United Kingdom
- South Korea
- South America
- Middle East
- Caterpillar Inc.
- Komatsu Ltd.
- AB Volvo
- Joy Global
- Hitachi Co. Ltd.
- Atlas Copco
- Liebherr Group
- Doosan Group