Mine Rescue Vehicle Market: Global Industry Analysis and Forecast (2022-2027) Trends, Statistics, Dynamics and Segmentation

The Mine Rescue Vehicle Market was valued at US$ 2.5 Bn. in 2021. The Global Mine Rescue Vehicle Market size is expected to grow at a CAGR of 10.66 % through the forecast period.
Mine Rescue Vehicle Market Overview:
A mine rescue vehicle is a vehicle used by a mine operator in an emergency. They are usually equipped with special safety equipment to allow stakeholders to move out quickly & safely from the mine site. China accounts for the majority of deaths from mining accidents, especially in the coal mining sector. It produces about 35% of the world's coal & accounts for about 80% of the deaths from coal mining.



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2021 is considered as a base year to forecast the market from 2022 to 2027. 2020’s market size is estimated on real numbers and outputs of the key players and major players across the globe. The past five years' trends are considered while forecasting the market through 2027. 2020 is a year of exception and analysis, especially with the impact of lockdown by region.
Mine Rescue Vehicle Market Dynamics:
Mine Rescue Vehicle Market Drivers:

The urgent need to gain access to undeveloped minerals around the world should herald the growth of the mining rescue vehicle market during the forecast period. Various mining companies are investing heavily in new exploration activities. This also leads to high demand for rescue vehicles to save workers' lives in emergencies. In addition, market-active manufacturers are working to develop innovative & efficient mining rescue vehicles which can reach remote areas. Increasing launches of new vehicles with sufficient oxygen storage capacity in the evaluation device are another important factor in the good prospects for the market.

Mine Rescue Vehicle Market Challenges:

The cost of maintaining, operating, & installing driverless mine rescue vehicles is enormous. For the vehicles to run efficiently, there is an additional cost of mapping multiple mines. These also necessitate a cutting-edge management centre with cutting-edge technology. These factors may also obstruct the dispatch of mine-rescue vehicles during the evaluation period. However, several organisations are constructing management facilities far away from mines to protect you from harm.
Mine Rescue Vehicle Market Segment Analysis:
The Mine Rescue Vehicle Market is divided into three types of vehicles: passenger cars, ambulances, and fire & rescue trucks. Major companies in the passenger car market provide a variety of vehicles, including heavy-duty passenger vehicles. To give superior performance in underground mining conditions, heavy-duty passenger automobiles include a steel frame & body with a diesel engine. The passenger car market is estimated to grow at a 7.30 % CAGR during the forecasted period.

The ambulance segment is expected to grow fast during the forecast period. This growth is due to an increase in mining accidents which are driving the demand for ambulances in surface & underground mines around the world. 9.6% of CAGR is expected for the Ambulance market during the forecast period.

Mining companies use fire trucks & rescue vehicles to respond to crises which may or may not arise on the mine sites. These vehicles aid firefighters in fighting coal-seam fires caused by gas leaks, explosions, & other causes, as well as preventing workplace fatalities. In 2021, the market for fire trucks and rescue vehicles was estimated to be worth US$ 4.5 Bn. During the forecast period, the worldwide fire trucks & rescue vehicles market is expected to rise at a CAGR of 7%.

Based on the Mine Type, the Mine Rescue Vehicle Market is segmented into Surface Mining & Underground Mining. One of the most frequent ways for harvesting minerals, ores, and rocks is surface mining. By cutting exposed mineral deposits and moving them to a conveyor belt, this technique eliminates or loosens the rock/mineral surface. This approach has grown in popularity due to its ease of use and the fact that it requires less excavation than other methods such as underground mining. Increasing demand for minerals and metals with technological advances is a major factor influencing market growth. 3% of CAGR is expected for the Surface ace mining market through the forecasted period. Market size is expected to reach US$ 25.80 billion in 2027.

Underground coal miners employ a number of safety equipment, including a system which sends distress signals from within the mine. Even if an accident or incident occurs during working hours assistance will deploy quickly and safely. As a result, demand for rescue vehicles, which are expressly intended for emergencies during mining operations, is increasing.
Mine Rescue Vehicle Market Regional Overview:
Asia Pacific region shows the highest growth for mine rescue vehicles. Increased mineral production activity in China & India is expected to contribute to this growth. Many mines in these countries are also a good sign for the Asia Pacific market. According to MMR report study, the number of mines reported in India was 1,229 in the year 2021. Of these, 684 mines reported were for non-metal minerals & 545 were for metal minerals. These numbers are expected to grow rapidly over the next few years, thereby driving the Asia Pacific market.

North America region will be the fastest-growing market for mining rescue vehicles during the forecast period. This market grows driven by increased mining activity in countries search as Canada, Mexico and the U.S which are driving demand for an underground mining application in North America. The North American segment is expected to grow 5% of CAGR for the mine rescue vehicle market through the forecasted period. Europe region gives a moderate growth rate during the forecast period due to growing concerns about mine safety & accidents in countries like Germany, Spain, Poland, and Belgium, and increasing demand for underground mining applications in the region.

The objective of the report is to present a comprehensive analysis of the global Mine Rescue Vehicle Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Mine Rescue Vehicle Market dynamic and structure by analyzing the market segments and projecting the Mine Rescue Vehicle Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Mine Rescue Vehicle Market make the report investor’s guide.
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Global Mine Rescue Vehicle Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2027


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 2.5 Bn.


Forecast Period 2022 to 2027 CAGR:
10.66%
Market Size in 2027:
US $ 4.88 Bn.


 Segments Covered:
by Vehicle Type
• Passenger Car
• Ambulance
• Fire and Rescue Truck


by Mine Type
• Surface Mining
• Underground Mining


by Capacity
• Light and Medium Duty Mine Rescue Vehicles
• Heavy Duty Mine Rescue Vehicle



Mine Rescue Vehicle Market by Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Mine Rescue Vehicle Market Key Players
• Astec Industries Inc.
• Dragerwerk AG & Co. KGaA
• Expat Rescue
• Baseline Group
• Frontline Fire & Rescue Equipment
• Mercedes-Benz
• Toyota
• NPK Construction Equipment
• Jianglu Machinery Electronic group
• Mitsubishi
• MO Great Dane
• Harbin automobiles

Frequently Asked Questions:

1] What segments are covered in the Global Mine Rescue Vehicle Market report?
Ans. The segments covered in the Mine Rescue Vehicle Market report are based on Vehicle Type, Capacity, Mine Type, and Region

2] Which region is expected to hold the highest share in the Global Mine Rescue Vehicle Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Mine Rescue Vehicle Market.

3] What is the market size of the Global Mine Rescue Vehicle Market by 2027?
Ans. The market size of the Mine Rescue Vehicle Market by 2027 is expected to reach US$ 4.88 Bn.

4] What is the forecast period for the Global Mine Rescue Vehicle Market?
Ans. The forecast period for the Mine Rescue Vehicle Market is 2020-2027.

5] What was the market size of the Global Mine Rescue Vehicle Market in 2021?
Ans. The market size of the Mine Rescue Vehicle Market in 2021 was valued at US$ 2.5 Bn.