Global Mining Equipment Market By Product (Mining Drills & Breakers, Crushing, Pulverizing & Screening Equipment, Mineral Processing Machinery, Surface Mining Equipment, Underground Mining Machinery), By Application (Metal Mining, Mineral Mining, Coal Mining) and by region (North America, Europe, Asia Pacific, Middle East & Africa & South America) Global Mining Equipment Market was valued at US$ 76.4Mn in 2019 and is expected to reach US$ XX Mn by 2027, at a CAGR of XX% during a forecast period.
Driving factors for the Mining Equipment Market are Increasing demand are driven by increases in manufacturing output, especially in the developing world, stronger construction activity in the developed world. Increase in exploration spending by mining companies in consecutive years are positive via getting investment in this area are also higher. New safety standards with high levels of efficiency, have given priority to technological advancement in mining equipment. Growing demand due to factors such as the rise in demand for coal, metal and minerals and the population growth are creating opportunity in this segment. Depletion of natural resources and High cost of associated system will act as restraint to the market.
Crushing and Pulverizing is leading the Mining Equipment Market.
Pulverizing materials into small particles is an apparatus pulverizes material composed of wet or dry discrete objects into relatively smaller particles with shock waves created by flowing the material through a housing having alternating rotors and orifice plates. The principle operation of industries such as pharmaceutical, chemical, cosmetic, and food processing heavily depends on the ability to crush and mill materials into smaller pieces. High requirement in a powder milling machine to achieve certain manufacturing requirements will be the growth factor in crushing and pulverizing segment.
In Application, Metal mining is also expected to lead the market growth. The metal mining equipment industry is seeing boom times thanks in large part to increasing investment in both automation technologies and worker health and safety.
Asia Pacific is the leading regional market for Mining Equipment Market.
Emerging Asia as expected to grow on the trade momentum holds and domestic reforms continue. Asia Pacific economies are the crucial suppliers of mined commodities, collectively producing more than half of the world’s iron ore, more than 70% of the its copper, nickel, silver, lead, zinc, nickel, bauxite and tin, and more than 90% of its coal and molybdenum. Governments are encouraged to adopt best practices to create favorable conditions for sustainable mining to realize mineral potential. The large investment in power supply in the Asia region in order to meet the needs of the mines is believed for growth opportunity in mining equipment market.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading manufacturers such as are Caterpillar, Inc., Metso Corporation, Komatsu Ltd., Atlas Copco AB, Sandvik AB, CNH Industrial NV, Hitachi Co., Ltd., AB Volvo, Doosan Group, Liebherr Group, Astec Industries Incorporated, Bell Equipment Limited, China Coal Energy Company Limited, Bradken Limited, Corum Group, Hyundai Heavy Industries Company Limited, Kopex SA, RCR Tomlinson Limited, Techint Group, and Terex Corporation.
Maximize market research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the Mining Equipment Market. Report encompasses the market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Mining Equipment Market. The driving forces as well as considerable restraints have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Mining Equipment Market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Global Mining Equipment Market”.
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