Mining Equipment Market Trends, Companies, Driver, Segmentation, Forecast to 2024

Selbyville, Delaware. The latest report on Mining Equipment market presents an intensive study of the industry segments, distinct geographic regions, and major companies, with special importance to the production-consumption ratio. It underlines the major driving forces, identifies the key opportunities, and also suggests methods for addressing the existing as well as upcoming challenges. Moreover, it unravels the expected market patterns and also predicts the growth rate for the forecast period. Apart from this, it encompasses latest data pertaining the Covid-19 impact and strategies that should be undertaken to generate strong returns post the pandemic.

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Drills & breakers are experiencing a high adoption in the mining equipment market with an increase in surface and underground extraction activities. The application of rotary blasthole drills for coal and metal mining processes is growing rapidly. Manufacturers in the mining machinery market are developing customized solutions based on the specifications of the companies. For instance, Sandvik AB is providing 1190E Rotary Blasthole Drill Rig, which is an electric-powered equipment designed specifically for coal extraction processes. The Asia Pacific region is witnessing a high adoption of these solutions owing to the favorable policies regarding the export of metals and minerals. Countries including India, China, and Australia are among the largest coal producing economies of the world.

Increasing health & safety concerns about the workers are propelling the adoption of automated solutions in the mining equipment market. Several countries including the U.S., Germany, and France are developing machine safety regulations for the safety of the industrial laborers. For instance, the European Act of 1986 on health and safety outlines several guidelines for the protection of workers from hazardous industrial environments. Such regulations are promoting companies to adopt effective solutions developed for reducing the chances of workplace accidents. The manufacturers in the mining machinery market are providing several safety features and functions in these machines including gas detection system, wireless personnel tracking, conveyor belt monitoring and ground control, and strata management systems.

Mining Equipment Market is expected to be around USD 100 billion by 2024. Increasing investments in developing innovative and smart solutions will drive the mining machinery market. Rising demand for advanced extraction solutions is encouraging the players to increase their R&D activities to cater to the requirement of the customers. The industry is witnessing a growing demand for connected technologies for monitoring the industrial processes. Several players are engaged in developing IoT-based equipment for remote monitoring and control. It was estimated that around 40% of the manufacturers in the industry are planning to implement IoT-connected technologies for performing extraction activities.

The applications of these machines for mineral extraction are expected to grow owing to the rising demand for fossil fuels in several application areas. Growing demand for crude oil, natural gas, and coal for energy generation is expected to drive the extraction process. Countries including China, Ukraine, Colombia, Australia, and Russia are the largest producers of fossil fuels. These countries are witnessing a high adoption of mineral processing machinery thereby driving the mining equipment market. The global production and consumption of these minerals are increasing rapidly. Crude oil is the largest energy source that accounts for around 39% of fossil energy.

Major companies participating in the mining machinery market are Atlas Copco AB, Caterpillar Inc., Metso Corporation, Komatsu Ltd., Joy Global, Inc, Hitachi Co., Ltd., Sandvik AB, AB Volvo, Doosan Group, Astec Industries Incorporated, Wirtgen Group Holding GmbH, Bell Equipment Limited, Liebherr Group, Bradken Limited, CNH Industrial N.V., China Coal Energy Company Limited, Hyundai Heavy Industries Company Limited, Corum Group , RCR Tomlinson Limited, Kopex SA, Terex Corporation, and Techint Group. among others. The players in the mining equipment market are offering their solutions to several regions where a high availability of mineral resources is being witnessed. Companies are adopting several strategies to capture a widespread customer base in the mining machinery market. For instance, in June 2011, Caterpillar, Inc. announced the acquisition of Bucyrus International, Inc. to expand its business operations.

Global Mining Equipment Market: Drivers and Restraints: This section of the Mining Equipment Market Analysis report we are covering various drivers and restraints that have affected the global Mining Equipment market. The complete study of plentiful drivers of the market enables market professionals to get a clear viewpoint of the Mining Equipment market share, which consists of Mining Equipment industry environment, advancement market, product innovations, latest developments, and Mining Equipment market risks.

Read Full Report at: Mining Equipment Market

Major Highlights from Table of contents are listed below for quick lookup into Mining Equipment Market report

Chapter 1. Competitive Landscape

  • Company market share
  • Mining Equipment Market Competitive analysis of key market players
  • Competitive analysis of other prominent vendors

Chapter 2. Company Profiles

  • Business Overview
  • Financial Data
  • Product portfolio
  • Strategic Outlook
  • SWOT Analysis

Chapter 3. Methodology & Scope

  • Methodology
  • Initial data exploration
  • Mining Equipment Market Statistical model and forecast
  • Industry insights and validation
  • Mining Equipment Market Scope
  • Definition
  • Methodology and forecast parameters
  • Data Sources

Chapter 4. Executive Summary

  • Mining Equipment industry 360┬║ synopsis – 2025
  • Mining Equipment Business trends
  • Region trends

Chapter 5. Mining Equipment industry Insights

  • Mining Equipment Industry segmentation
  • Industry landscape 2025
  • Industry Pitfalls and Challenges
  • Threat of new entrants
  • Threat of substitutes
  • Mining Equipment Market Growth potential analysis

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