The future of the global mining equipment market looks good with opportunities in underground mining and surface mining. The global mining equipment market is expected to reach an estimated $88.7 billion by 2023 with a CAGR of 4% from 2018 to 2023. The major drivers for the growth of this market are growth in mining activity, increasing demand of metal and mineral commodities, and rapid urbanization.
Emerging trends which have a direct impact on the dynamics of the mining equipment industry are underground automation systems for efficient mining, automatic power crushers for crushing and compacting operations, multi-functional excavators for construction and demining functions, use of hybrid electric motors for cost effective operations, and rail-veyor technology for bulk material hauling solutions.
A total of 101 figures / charts and 57 tables are provided in this 179 -page report to help in your business decisions. Sample figures with some insights are shown below. To learn the scope of, benefits, companies researched and other details of this mining equipment market report, download the report brochure.
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The study includes the mining equipment market size and forecast for the global mining equipment market through 2023, segmented by product, application, function, and region, as follows:
- Mining Equipment Market by Product Type ($ Billion from 2012 to 2023)
- Underground Mining Machinery Surface Mining Machinery Drills and Breakers Crushing, Pulverizing, and Screening Equipment Mineral Processing Machinery Parts and Attachments
- Mining Equipment Market by Application Type ($ Billion from 2012 to 2023)
- Coal Mineral Metal
- Mining Equipment Market by Function Type ($ Billion from 2012 to 2023)
- Transportation Processing Excavation
- Mining Equipment Market by Region ($ Billion from 2012 to 2023)
- North America Europe Asia Pacific Rest of the World
Some of the mining equipment companies profiled in this report include Caterpillar, Komatsu, Hitachi Construction Machinery, Atlas Copco, and Sandvik.
On the basis of its comprehensive research, Lucintel forecasts that the mineral processing machinery will show above average growth during the forecast period.
Within the global mining equipment market, the surface mining equipment segment is expected to remain the largest market over the forecast period due to rising demand of metal and minerals across the world.
By application type, the mining equipment market is segmented into coal, mineral, and metal. The metal segment is expected to show above average growth during the forecast period due to increasing metal mining activities with large scale urbanization in emerging economies like India and China.
APAC is expected to remain the largest market during the forecast period mainly due to increasing coal and metal exploration activities for power generation and rising metal consumption because of large scale infrastructure development.
Some of the features of “Mining Equipment Market Report: Trends, Forecast and Competitive Analysis: Trends, Forecast, and Opportunity Analysis” include:
- Market size estimates: Global mining equipment market size estimation in terms of value ($B) shipment. Trend and forecast analysis: Market trend (2012-2017) and forecast (2018-2023) by application, and end use industry. Segmentation analysis: Global mining equipment market size by various applications such as product, application, and function segment in terms of value and volume shipment. Regional analysis: Global mining equipment market breakdown by North America, Europe, Asia Pacific, and the Rest of the World. Growth opportunities: Analysis on growth opportunities in different applications and regions for mining equipment in the global mining equipment market. Strategic analysis: This includes M&A, new product development, and competitive landscape for mining equipment in the global mining equipment market. Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
This report answers the following key questions:
Q.1. What are some of the most promising, high growth opportunities for the global mining equipment market by product (underground mining machinery, surface mining machinery, drills and breakers, crushing, pulverizing, and screening equipment, mineral processing machinery and parts and attachments), by application (coal, mineral and metal), by function (transportation, processing and excavation), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this mining equipment market?
Q.5. What are the business risks and competitive threats in this mining equipment market?
Q.6. What are the emerging trends in this mining equipment market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the mining equipment market?
Q.8. What are the new developments in the mining equipment market? Which companies are leading these developments?
Q.9. Who are the major players in this mining equipment market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this mining equipment market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years in this mining equipment market?