Global Mining Equipment Market Size, Share, Trend, Overview 2021– 2030.
The global mining equipment market is on track to hitting USD 208.9 Billion by 2030, at a CAGR of 5.72% during the forecast period 2022 to 2030.
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Surface mining equipment accounted for the highest share of revenue in the global mining equipment market, contributing approximately 37.8% of the total revenue in 2021 and establishing its dominance. This dominance is expected to continue as emerging nations exhibit increased demand for diamonds, coal, iron ore, and chromium, creating new market opportunities for surface mining equipment. The expanded usage of this machinery has empowered certain mining companies to explore high-quality resources and construct sturdy surfaces and embankments.
In 2021, the coal mining application category held the largest market share, with a 36.5% revenue share. The growth in this sector is attributed to the rising need for electricity generation. As coal production has increased, so have the applications and demand for coal mining equipment. Consequently, the coal mining industry is anticipated to maintain its dominance throughout the forecast period.
Regarding applications, the metal mining category takes the lead in the market. This segment is projected to grow at a CAGR of 6.2% during the forecast period. Factors contributing to this growth include the increasing demand for precious metals, favourable government regulations, and the transportation of metal resources. However, the non-metal mining category is expected to experience the fastest growth in the coming years due to the demand for equipment used in rock, stone, and sand removal.
The electric vehicle category is poised for significant growth in the foreseeable future, with a substantial CAGR. Manufacturers are increasingly focused on developing environmentally friendly mining equipment, aligning with the global trend toward sustainability. Many developing countries are incorporating hybrid technology into mining equipment production to embrace eco-friendliness. The rising demand for sustainable and environmentally conscious mining products in highly developed nations is a driving force behind the global mining industry’s growth.
Major listed companies:
Liebherr Group, Caterpillar Inc., Komatsu Ltd, Epiroc, BelAZ, Hitachi Construction Machinery Co. Ltd, Deere & Company, Sandvik AB, AB Volvo, Xuzhou Construction Machinery Group Co., Ltd.
Market segmentation:
By Equipment Type
- Underground Mining Equipment
- Surface Mining Equipment
- Crushing
- Pulverizing & Screening Equipment
- Drills & Breakers
- Others
By Application
- Metal Mining
- Non-Metal Mining
- Coal Mining
By region:
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Italy, Spain, Russia, Rest of Europe,)
Asia Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia Pacific)
South America (Brazil, Argentina, and Rest of South America)
Middle East & Africa (UAE, Saudi Arabia, Qatar, South Africa, and Rest of Middle East & Africa)
Competitive analysis:
The competitive analysis section of the Global Mining Equipment Market research report provides a detailed study of the competitive landscape within the market. It aims to identify and assess key market players, their strategies, and their impact on overall market dynamics. Each company’s profile provides insight into its business profile, product portfolio, geographic presence, and recent developments. This information helps stakeholders to gain a comprehensive understanding of market participants and their capabilities.
In addition, competitive analysis examines the market share held by each major player and assesses their position within the market. Assessing relative market strength considers factors such as revenue, market capitalization, and market share growth over time. By understanding the distribution of market shares, industry participants can identify key players and their market power.
Browse key industry insights spread across 210 pages with 131 market data tables and figures & charts from the report “ Global Mining Equipment Market Size, Share, and COVID-19 Impact Analysis By Equipment Type (Underground Mining Equipment, Surface Mining Equipment, Crushing, Pulverizing & Screening Equipment, Drills & Breakers, and Others), By Application (Metal Mining, Non-Metal Mining, and Coal Mining), By Powertrain Type (IC Engine Vehicle and Electric Vehicle), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030. “in detail along with the table of contents.
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The Global Mining Equipment Market research report aims to answer the following key questions:
- What are the main products/services offered in the market and how are they evolving to meet changing consumer demands?
- What are the key technological advances and innovations impacting the market and how will they affect the competitive landscape?
- What are the key distribution channels and marketing strategies market players employ to effectively reach their target audience?
- What are the price trends in the market, and how do prices change across different product segments and geographies?
- How will changing demographic patterns, such as age groups and income levels, affect consumer behaviour and market demand?
- What are the key cost factors and factors that influence the profitability of companies in the Global Mining Equipment Market?
- How will sustainability and environmental considerations affect consumer preferences and market growth in this sector?
- What are the investment opportunities and challenges for new entrants and investors looking to enter the market?
- How do government policies and regulations impact market dynamics and shape industry strategies?
- What are the current supply chain trends and challenges in the market, and how do they affect product availability and pricing?
- What are the levels of customer satisfaction and loyalty within the market, and how do market participants differentiate in terms of service quality?
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