Global Underground Mining Equipment Market Research Report - Forecast to 2025
Published | June 2019
According to Blueweave Consulting, the Underground mining equipment market was valued around USD XX.XX Billion in 2018 and is expected to expand at over a CAGR of XX% from 2019 to 2025, in terms of value, reaching around USD XX.XX Billion by the end of the forecast period. Owing to the rising demand for metals and minerals, forthcoming emission protocols, increase in manpower risk and capital involved are the major reasons for the market growth. Underground mining is one of the methods employed to obtain ores and valuable minerals in the grounds. The purpose of underground mining is to extract ore from underground, cautiously and while generating limited waste.
The demand for power generation is increasing more than ever owing to the rapid industrialization and urbanization which has amplified the demand for coal. Additionally, the refining construction sector is projected to boost the demand for mining equipment throughout the forecast period.
Longwall extraction type leads the overall underground mining equipment market accounting for over XX% market share in 2018 and projected to reach X.XX billion by the end of 2025. Owing to the advantages like low operating cost, high productivity with low dilution. However, Room & Pillar Extraction is projected to touch X.XX billion by 2025 with a CAGR of XX.X%. The demand underground mining equipment is rising owing to several aspects like the increasing demand for coal, metal and minerals, rise in disposable income, and increase adoption of automation technologies.
Based on application, coal mining holds the largest market share of XX% of entire underground mining equipment market with an annual growth rate of X.XX%. However the mineral mining is the most lucrative segment with an annual growth rate of XX.X% and projected to reach XX.XX billion by the end of 2025.
Geographically, the underground mining equipment market is analyzed across North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is the leading region with a market share of XX.XX% in 2018 and expected to touch XX.XX billion by 2025. Rising investments in advanced tools for coal and mineral exploration, government policies like China’s policy toward encouraging foreign investments in the mining sector, and low cost of mineral production are enhancing the demand in these regions. The Latin America and MEA regions are likely to experience substantial growth during the forecast period.
Komatsu Ltd (Japan), Caterpillar Inc. (U.S.), Sandvik AB (Sweden), Volvo AB (Sweden), Hitachi Construction Machinery Co. Ltd. (Japan), Boart Longyear Ltd. (U.S.), Flsmidth Group (Denmark), Kennametal, Inc. (U.S.), Liebherr - International Deutschland Gmbh (Switzerland), Metso Corporation (Finland), ThyssenKrupp AG (Germany) and others.
Objective of the study
· To provide detailed analysis of the market structure along with the forecast period of the various segments and sub-segments included in global underground mining equipment market with analysis of its development and demand in the market
· To identify high growth geographies and countries
· To study regional and country-specific demand and forecast for global underground mining equipment
· To cover the key segments of: Method type, Application and region.
· To finalize the unit breakdown for all different classification; and refer to them for forecasting, keeping few assumptions into factor
· To identify the historical trend to forecast and estimate the future value data
· Raw materials suppliers
· Aftermarket suppliers
· Research institute & education institute
· Potential investors
· Key executive (CEO and COO) and strategy growth manager
The reports also cover country level analysis:
· Rest of the Europe
· Rest of Asia-Pacific
· Rest of Latin America
Middle East & Africa
· Saudi Arabia
· South Africa
· Rest of Middle East & Africa