Mining Equipment Market Report Explored In Latest Research 2021–2027

The visible advancements in extraction solutions owing to the heavy spending on research & development activities will spur mining equipment market growth. Adoption of the latest technologies, such as IoT, is rising in this sector for remote monitoring, controlling industrial processes, and ensuring worker safety. It is predicted that about 40% of the industrial manufacturers are endeavoring to integrate IoT connected technologies for effectuating extraction activities in the coming years.

As per a comprehensive research report published by Global Market Insights, Inc., mining equipment market size is anticipated to touch the $100 billion mark by 2024.

Escalating surface and underground extraction activities have significantly intensified the adoption of drills & breakers. Rotary blasthole drills have found a myriad range of applications in coal and metal mining processes. Mining equipment behemoths are creating customized solutions with specific properties depending upon the requirement of extraction companies for various types of mining activities. For instance, high-tech and global engineering company Sandvik AB provides 1190E Rotary Blasthole Drill Rig, electric powered machinery, to its clients primarily for coal extraction.

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Mining Equipment Market is likely to garner commendable gains from soaring applications of these machines in mineral extraction processes. Mining equipment plays a major role in answering the augmenting demand for fossil fuels, such as coal, natural gas, and crude oil for energy production.

Several countries, such as Ukraine, Russia, China, Colombia, and Australia are the major contributors to the total fossil fuel production across the globe. These countries are adopting mineral processing machinery on a large scale to satisfy the growing consumption of minerals globally. Crude oil has been deemed as the largest source of energy, accounting for almost 39% of fossil energy.

Evoking concerns pertaining to worker safety have accentuated the adoption of advanced solutions in mining equipment market. A plethora of countries, such as Germany, France, and the U.S., is implementing machine safety regulations for the safety of industrial workers. This can be evidenced by the guidelines outlined by the European Act of 1986 on health and safety. The regulations were imposed to protect employees from hazardous industrial environments.

Such guidelines are accelerating the adoption of automated solutions for minimizing the number of accidents at the workplace. These advanced machines are equipped with numerous safety features and functions, such as wireless personnel tracking, strata management systems, gas detection system, conveyor belt monitoring, and ground control system.

Taking the regional perspective into consideration, Asia Pacific is expected to be at the forefront of the global mining equipment industry. The region has been observing extensive adoption of automated mining solutions due to the implementation of supportive policies regarding export of mineral and metals. Numerous countries, such as China, Australia, and India across the region stand as the largest coal producers globally, which will influence mining equipment market trends.

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Rising mineral extraction has encouraged mining equipment companies to offer mining solutions in mineral abundant regions to strengthen their foothold. They are pursuing several business strategies, such as mergers, flotations, and acquisitions to advance their operations.

For example, in June 2011, caterpillar, Inc., acquired Bucyrus International, Inc. with the aim to expand its business operations. Intensified incorporation of advanced technologies and rising concerns for worker protection are anticipated to push the growth of Mining Equipment Market size several notches up soon.

Table of Contents (ToC) of the report:

Chapter 1.   Methodology and Scope

1.1.  Definitions & forecast parameters

1.1.1. Definitions

1.1.2. Methodology and forecast parameters

1.2.  Data Sources

1.2.1. Secondary

1.2.2. Primary

Chapter 2.   Mining Equipment Market Summary

2.1.  Mining equipment industry 360° synopsis, 2013 – 2024

2.1.1. Business trends

2.1.2. Product trends

2.1.3. Application trends

2.1.4. Regional trends

Chapter 3.   Mining Equipment Market Insights

3.1.  Industry segmentation

3.2.  Industry landscape, 2013 – 2024

3.2.1. Mining industry landscape, 2013 – 2024

3.2.2. Industrial machinery industry landscape, 2013 – 2024

3.2.3. Crane industry landscape, 2013 – 2024

3.3.  Industry ecosystem analysis

3.3.1. Raw material suppliers

3.3.2. Component suppliers

3.3.3. Manufacturers

3.3.4. System integrators

3.3.5. Distribution channel analysis

3.3.6. Buyer landscape   By machine type   By customers

3.3.7. Vendor matrix   List of key manufacturers/suppliers   List of key/potential customers

3.4.  Technology & innovation landscape

3.4.1. Impact of IoT and digitization

3.4.2. Industry 4.0

3.4.3. Robotics & automation

3.4.4. Sensors and inspection devices

3.4.5. Telematics & GPS technology

3.5.  Regulatory landscape

3.5.1. North America

3.5.2. Europe

3.5.3. Asia Pacific

3.5.4. Latin America

3.5.5. MEA

3.6.  Industry impact forces

3.6.1. Growth drivers   North America & Europe      Integration of robotic systems and GPS      Focus on productivity to maximize ROI from mining      Escalating demand for resources      Rising demand for metals from construction & manufacturing industry   Asia Pacific & Latin America      Increased mineral production and stabilizing commodity prices      Increasing usage of smart mining solutions      Growing investments in innovation and digitalization      Increased focus on mechanization in mining   MEA      Replacement of the aging fleet      Enhancing output from underground mines

3.6.2. Industry pitfalls & challenges   High cost of machines   Stringent emission regulations   Rising prices of raw materials

3.7.  Growth potential analysis

3.8.  Price trend analysis, by region, 2017

3.8.1. Mining drills & breakers

3.8.2. Crushing, pulverizing & screening equipment

3.8.3. Mineral processing machinery

3.8.4. Surface mining equipment

3.8.5. Underground mining machinery

3.8.6. Others

3.9.  Porter’s analysis

3.9.1. Supplier power

3.9.2. Buyer power

3.9.3. Threat of new entrants

3.9.4. Threat of substitutes

3.9.5. Internal rivalry

3.10.      Competitive landscape, 2017

3.10.1.  Company market share analysis

3.10.2.  Strategic dashboard     New product development     Mergers, acquisitions, and strategic partnerships

3.11.      PESTEL analysis

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