The
global Mining Equipment Market size is anticipated to
reach USD 201.55 billion by 2030 registering a CAGR of 5.1% during the forecast
period, according to a new report by Grand View Research, Inc. The introduction
of automated mining equipment at the major mine sites and the increasing demand
for efficient mining equipment is expected to propel the demand during the
forecast period.
A
growing urban population raises demand for natural resources like oil, which is
expected to fuel the market's growth. The interdependence of population growth
and natural resources has an impact on how well the climate can adapt,
especially in developing countries with rapidly shifting demographics and
resource-dependent economies.
The
adoption of automation and autonomous systems has led to significant developments
in the global mining industry. In addition, the usage of autonomous machines
such as drillers, Load Haul and Dump Loaders (LHDs), and carrying trucks at
mining locations is rapidly increasing worldwide, thereby fueling the market
demand for these products during the forecast period.
The
ongoing urbanization and industrialization have fueled the global demand for
natural resources such as oil and minerals. As a result, the global mining
industry is flourishing. This, in turn, is boosting the demand for mining
equipment, thereby leading to the growth of the market for this equipment
worldwide.
Manufacturers
of these products adopt several strategies including acquisitions, mergers,
joint ventures, new product developments, and geographical expansions to
enhance their market penetration and cater to the changing technological demand
for the equipment from various end-use industries such as metal mining, coal
mining, and non-metal mining.
List of Key Players in Mining Equipment market
- Epiroc
- Boart Long
year Ltd
- Caterpillar
Inc
- China Coal
Energy Group Co. Ltd
- Vipeak
Mining Machinery Co. Ltd
- Guangdong
Leimeng Intelligent Equipment Group Co. Ltd
- Henan Baichy
Machinery Equipment Co. Ltd
- Komatsu Ltd
- Liebherr
- Metso
Qutotec
Related Press
Release@ Mining Equipment Market Report
Mining Equipment Market Report Highlights
- Surface
mining equipment accounted for 38.9% share of the global revenue in 2022.
The expansion of the surface mining equipment market is anticipated to
rise from the growing demand for excavators in the oil & gas and
construction industries
- Underground
mining equipment accounted for a 30.2% share of the global revenue in
2022. The sturdy manufacturing and high impact force of the equipment make
it an efficient piece for subterranean operations, thereby fueling the
demand during the forecast period
- Metal mining
application segment is expected to witness growth at a CAGR of 6.1% from
2023 to 2030. Owing to increased resource exploration and strong demand
for precious metals such as silver, gold, and others, the metal mining
market is expected to grow as a significant application segment
- Asia Pacific
accounted for around 35% share of the global revenue share in 2022. The
increasing shift towards clean energy resources and the adoption of
electric vehicles in developing countries such as China and India expected
to drive market growth in the forecast period
- In September
2022, Epiroc introduced Boomer E10 and E20 drill rigs. The drill rigs have
automated technologies that improve operator safety and productivity, as
well as an optional battery-electric drive line for lower environmental
impact and better underground conditions
Mining Equipment Market Segmentation
Grand
View Research has segmented the global mining equipment market based on the
equipment type, application, and region:
Mining Equipment Type Outlook (Revenue, USD Billion, 2018
- 2030)
- Underground Mining
Equipment
- Surface
Mining Equipment
- Crushing,
Pulverizing & Screening Equipment
- Drills &
Breakers
- Others
Mining Equipment Application Outlook (Revenue, USD
Billion, 2018 - 2030)
- Metal Mining
- Non-metal
Mining
- Coal Mining
Mining Equipment Regional Outlook (Revenue, USD Billion,
2018 - 2030)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Norway
- Sweden
- Finland
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Central
& South America
- Brazil
- Argentina
- Middle East
& Africa
- Saudi
Arabia
- South
Africa
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the company
offers market intelligence studies ensuring relevant and fact-based research
across a range of industries including technology, chemicals, materials,
healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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