According to a new market report published by Lucintel, the future of the global mining equipment market looks promising with opportunities in coal, mineral and metal mining industries. The global mining equipment market is forecast to reach $112.9 billion by 2027 with a CAGR of 5.5% from 2022 to 2027. The major drivers for this market are growth in mining activities and increasing demand for metal & mineral commodities in emerging economies, such as China and India.
Browse 129 market data tables and 163 figures spread through 264 pages and in-depth TOC on “Global Mining Equipment Market"
In this market, various machinery and equipment, such as underground mining machinery, surface mining machinery, drills and breakers, crushing, pulverizing, screening, and mineral processing machineries, are used in the coal, metal, and mineral mining industries. On the basis of its comprehensive research, Lucintel forecasts that underground mining machinery will remain the largest product type segment during the forecast period due to increased investments for the development of underground coal mines.
Within this market, metal mining will remain the largest application segment, and it is also expected to witness the highest growth over the forecast period due to increasing demand for metals in the construction and automotive industries.
Asia Pacific will remain the largest region due to increasing demand for coal for power generation and rising metal consumption because of large-scale infrastructure development.
Emerging trends, which have a direct impact on the dynamics of the industry, include underground automation system for effective mining, automatic power crusher for crushing and compacting operation, and multi-functional excavator for construction and demining function. Hitachi, Doosan Corporation, AB Volvo, Deere and Company, and Caterpillar Inc. are among the major players of the global mining equipment market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global mining equipment market by product type, application, function type, and region, and has compiled a comprehensive research report titled “Growth Opportunities in the Global Mining Equipment Market 2022-2027”. The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global mining equipment market by product type, application, function type, and region, as follows:
By Product Type [$B shipment analysis for 2016 – 2027]:
•Underground Mining Machinery
•Surface Mining Machinery
•Drills and Breakers
•Crushing, Pulverizing, and Screening Equipment
•Mineral Processing Machinery
•Parts and Attachments
By Application [$B shipment analysis for 2016 – 2027]:
•Coal
•Mineral
•Metal
By Function Type [$B shipment analysis for 2016 - 2027]:
•Transportation
•Processing
•Excavation
By Region [$B shipment analysis for 2016 – 2027]:
•North America
–United States
–Canada
–Mexico
•Europe
–Germany
–Spain
–United Kingdom
–Poland
–Ukraine
•APAC
–China
–Indonesia
–India
•ROW
–Brazil
–South Africa
This 200+ page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/mining-equipment-market.aspx or write us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. We offer market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report addresses the following key questions:
Q. 1. What are some of the most promising, high growth opportunities for the global mining equipment market by product type (underground mining machinery, surface mining machinery, drills and breakers, crushing, pulverizing, screening equipment, mineral processing machinery, and parts and attachments), application (coal, mineral, and metal), function type (transportation, processing, and excavation), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2. Which products 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 drivers, challenges, and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market and which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are being initiated by key companies for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?
Q. 11. What M&A activity has occurred in the last 5 years?