Global Underground Mining Equipment Market Analysis and Forecast 2019-2028
$2,800.00 – $5,440.00
Increased demand for coal and metals across various verticals is propelling the demand for underground mining equipment market
The global underground mining equipment market is expected to gain a moderate growth rate of around 7% during the forecast 2022-2028. Growing demand for coal from the energy sector, increased demand for metal by manufacturing industries, and supportive government policies are some of the key factors expected to drive the demand for underground mining equipment across the globe. Moreover, accelerated growth in renting underground mining equipment coupled with the growing utilization of electric equipment for underground mining operations is further anticipated to fuel the growth of the market.
The mining industry is considered to be one of the most carbon-intensive industries globally in past decades. Mining companies are looking for ways such as how to minimize their environmental impact and one way to achieve this is by evaluating their energy consumption. Managing the environmental footprint is the major challenge faced by the global underground mining equipment market.
Asia Pacific is the leading region owing to the growing construction and mining industries
Asia Pacific is anticipated to dominate the global underground mining equipment due to the growing construction and mining industries across India, China, Australia, and other countries in the region. Heavy investments in mining & construction activities and increased usage of coal for electricity generation in the region are also expected to drive the demand for underground mining equipment in the region. Moreover, the growing demand for gold mining exploration in China is also likely to be one of the major drivers.
Increasing demand for automation in the mining sector will boost sales of mining screening equipment in the US. According to the data published by the US Energy Information Administration, in 2020, around 535 million short tons of coal were produced in 22 states in the region namely Wyoming, West Virginia, Pennsylvania, Illinois, and North Dakota accounted for 71% of the total coal production in the US in 2020. Coal mining is a dwindling industry in the US Though, and recent operations for the recovery of underground coal mines are prompting demand for new mining machines. In response to this, manufacturers are launching advanced equipment, which is expected to boost sales in the upcoming years.
Market Structure and Competitive Landscape
The global Underground Mining Equipment market is fragmented in nature with the presence of many players in the market. Some of the prominent players operating in the global Underground Mining Equipment market include Caterpillar Inc., Atlas Copco AB, AB Volvo, Mine Master Ltd., Komatsu, Jinan Fucheng Hydraulic Equipment Co., Ltd., Hager Equipment, MACLEAN, Epiroc, CMM Equipment, Maccaferri Environmental Sol. Pvt Ltd, Titan Ltd., FAMUR SA, Yantai Jiaxiang Mining Machinery Co., Ltd., J.C. Bamford Excavators Ltd., and Sandvik AB among others.
Companies are focusing on the adoption of automated equipment. Moreover, these players adopt various strategies including product launches, mergers and acquisitions, and partnerships and collaborations which directly result in propelling the growth of the global Underground Mining Equipment market.
- In November 2022, Epiroc agreed to acquire Australia-based Remote Control Technologies Pty Ltd., which provides automation and remote-control solutions for mining customers globally.
- In March 2022, Sandvik AB launched its autonomous truck haulage system called AutoMine for Trucks, the first of its kind for ramp haulage applications. The system allows Sandvik to transform its intelligent trucks into unmanned robots.
- In July 2021, Sandvik announced the completion of the previously announced acquisition of DSI Underground, the global leader in ground support and reinforcement products.
Key Market Segmentation
RationalStat has segmented the global Underground Mining Equipment market on the basis of type, application, end user, and region.
- By Type
- Hard Rock Equipment
- Dozers
- Scalers
- Truck Reversers
- Industrial Minerals
- Longwall Systems
- Room and Pillar/ Entry Development
- Underground Crushing Equipment
- Drill
- Dump Truck
- Feeder Breaker
- Excavator
- Drill Rig
- Others (Roof Bolter, etc.)
- By Application
- Metal Mining
- Mineral Mining
- Coal Mining
- By End User
- Mining Operators
- Rental Service Providers
- Others
- By Region
- North America
- US
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Western Europe
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- Rest of Eastern Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- South Africa
- Turkey
- Rest of the Middle East & Africa
- North America
Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecast, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
Secondary Sources
- Annual reports, company filings, investor presentations, product catalogs, and company documents
- Industry and market-related documents available in the public domain
- Paid database including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, Thomson Reuters, among others
- Whitepapers, research papers, and industry blogs.
Why Buy this Report?
The report is intended for Underground Mining Equipment manufacturers, third party distributor, dealers, exporters & importers, government organizations, educational organizations, regulatory agencies, end user industry, and market research firms, among others. The report provides an in-depth analysis of market size, consumption patterns, ongoing market trends and challenges, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights to clients to find the right answers to their business questions.
Frequently Asked Questions (FAQs)
The global underground mining equipment market is expected to grow at a CAGR of over 7% during the forecast period 2022-2028.
Asia Pacific is dominating the global underground mining equipment market in 2021.
Increased demand for coal and metals across various verticals is propelling the demand for the underground mining equipment market is the key driver of the global underground mining equipment market.
Major companies operating in the global underground mining equipment market include Caterpillar Inc., Atlas Copco AB, AB Volvo, Mine Master Ltd., Komatsu, Jinan Fucheng Hydraulic Equipment Co., Ltd., etc.
| REGION | Global |
|---|---|
| RELEASE YEAR | 2023 |
| RESEARCH CODE | RST-SAR-137 |
| ADDITIONAL FEATURE | 24×7 Post sales support and 15% free customization |
| User License | Single User/Team License, Corporate License |
Table of Contents
1. Market Introduction
1.1. Scope of Study
1.2. Problem Statement
1.3. Market Segmentation
2. Assumptions and Acronyms
3. Executive Summary
3.1. Global Market in 2022
3.2. Analyst Insights & Recommendations
3.3. Growth Opportunities and Key Strategies
3.4. Supply-side and Demand-side Trends
4. Research Methodology
5. Analysis of COVID-19 Impact and Road Ahead
6. Market Indicators and Background
6.1. Macro-Economic Factors
6.2. Forecasting Factors
Robust assessment of various factors including industrial performance, industry players’ expenditures, and economic conditions, among others
6.3. Supply Chain & Value Chain Analysis
6.4. Industry SWOT Analysis
6.5. PESTLE Analysis
6.6. Porter’s Five Forces Analysis
7. Government Laws and Industry Regulations
8. Global and Regional Market Dynamics
8.1. Drivers
8.2. Restraints
8.3. Trends
8.4. Opportunities
9. Global Underground Mining Equipment Market: Key Investment Analysis
9.1. By Key Industry Players
9.2. By Region
9.3. M&A Activities
Robust assessment of major investments made by various industry players across key regions
10. EXIM Analysis: Trade Data
10.1. Export Data by Volume (units) and Value (US$)
10.2. Import Data by Volume (units) and Value (US$)
11. Pricing Analysis
11.1. By Type
11.1.1. Hard Rock Equipment
11.1.2. Dozers
11.1.3. Scalers
11.1.4. Truck Reversers
11.1.5. Industrial Minerals
11.1.6. Longwall Systems
11.1.7. Room and Pillar/ Entry Development
11.1.8. Underground Crushing Equipment
11.1.9. Drill
11.1.10. Dump Truck
11.1.11. Feeder Breaker
11.1.12. Excavator
11.1.13. Drill Rig
11.1.14. Others (Roof Bolter, etc.)
11.2. By Region
11.2.1. North America
11.2.2. Latin America
11.2.3. Western Europe
11.2.4. Eastern Europe
11.2.5. Asia Pacific
11.2.6. Middle East & Africa
12. Parent Market Overview
12.1. Global Mining and Minerals Market Overview
12.2. Global Industrial Equipment Market Analysis and Forecast
13. Segmental Analysis
13.1. Global Underground Mining Equipment Market by Type
13.1.1. Segment Overview
13.1.1.1. Hard Rock Equipment
13.1.1.2. Dozers
13.1.1.3. Scalers
13.1.1.4. Truck Reversers
13.1.1.5. Industrial Minerals
13.1.1.6. Longwall Systems
13.1.1.7. Room and Pillar/ Entry Development
13.1.1.8. Underground Crushing Equipment
13.1.1.9. Drill
13.1.1.10. Dump Truck
13.1.1.11. Feeder Breaker
13.1.1.12. Excavator
13.1.1.13. Drill Rig
13.1.1.14. Others (Roof Bolter, etc.)
13.2. Global Underground Mining Equipment Market by Application
13.2.1. Segment Overview
13.2.1.1. Metal Mining
13.2.1.2. Mineral Mining
13.2.1.3. Coal Mining
13.3. Global Underground Mining Equipment Market by End User
13.3.1. Segment Overview
13.3.1.1. Mining Operators
13.3.1.2. Rental Service Providers
13.3.1.3. Others
13.4. Global Underground Mining Equipment Market by Region
13.4.1. North America
13.4.2. Latin America
13.4.3. Western Europe
13.4.4. Eastern Europe
13.4.5. Asia Pacific
13.4.6. Middle East & Africa
14. Regional Analysis
14.1. North America Underground Mining Equipment Market Analysis and Forecast 2019-2028
14.1.1. Regional Market Overview and Key Takeaways
14.1.2. North America Underground Mining Equipment Market by Type
14.1.3. North America Underground Mining Equipment Market by Application
14.1.4. North America Underground Mining Equipment Market by End User
14.1.5. North America Underground Mining Equipment Market by Country
14.1.5.1. US
14.2. Latin America Underground Mining Equipment Market Analysis and Forecast 2019-2028
14.2.1. Regional Market Overview and Key Takeaways
14.2.2. Latin America Underground Mining Equipment Market by Type
14.2.3. Latin America Underground Mining Equipment Market by Application
14.2.4. Latin America Underground Mining Equipment Market by End User
14.2.5. Latin America Underground Mining Equipment Market by Country
14.2.5.1. Brazil
14.2.5.2. Mexico
14.2.5.3. Rest of Latin America
14.3. Western Europe Underground Mining Equipment Market Analysis and Forecast 2019-2028
14.3.1. Regional Market Overview and Key Takeaways
14.3.2. Western Europe Underground Mining Equipment Market by Type
14.3.3. Western Europe Underground Mining Equipment Market by Application
14.3.4. Western Europe Underground Mining Equipment Market by End User
14.3.5. Western Europe Underground Mining Equipment Market by Country
14.3.5.1. Germany
14.3.5.2. UK
14.3.5.3. France
14.3.5.4. Spain
14.3.5.5. Italy
14.3.5.6. Benelux
14.3.5.7. Nordic
14.3.5.8. Rest of Western Europe
14.4. Eastern Europe Underground Mining Equipment Market Analysis and Forecast 2019-2028
14.4.1. Regional Market Overview and Key Takeaways
14.4.2. Eastern Europe Underground Mining Equipment Market by Type
14.4.3. Eastern Europe Underground Mining Equipment Market by Application
14.4.4. Eastern Europe Underground Mining Equipment Market by End User
14.4.5. Eastern Europe Underground Mining Equipment Market by Country
14.4.5.1. Russia
14.4.5.2. Poland
14.4.5.3. Rest of Eastern Europe
14.5. Asia Pacific Underground Mining Equipment Market Analysis and Forecast 2019-2028
14.5.1. Regional Market Overview and Key Takeaways
14.5.2. Asia Pacific Underground Mining Equipment Market by Type
14.5.3. Asia Pacific Underground Mining Equipment Market by Application
14.5.4. Asia Pacific Underground Mining Equipment Market by End User
14.5.5. Asia Pacific Underground Mining Equipment Market by Country
14.5.5.1. China
14.5.5.2. Japan
14.5.5.3. India
14.5.5.4. South Korea
14.5.5.5. Australia
14.5.5.6. ASEAN
14.5.5.7. Rest of Asia-Pacific
14.6. Middle East & Africa Underground Mining Equipment Market Analysis and Forecast 2019-2028
14.6.1. Regional Market Overview and Key Takeaways
14.6.2. Middle East & Africa Underground Mining Equipment Market by Type
14.6.3. Middle East & Africa Underground Mining Equipment Market by Application
14.6.4. Middle East & Africa Underground Mining Equipment Market by End User
14.6.5. Middle East & Africa Underground Mining Equipment Market by Country
14.6.5.1. GCC
14.6.5.2. South Africa
14.6.5.3. Turkey
14.6.5.4. Rest of the Middle East & Africa
15. Competitive Landscape
15.1. Competition Dashboard
15.1.1. Global and Regional Market Share Analysis
15.1.2. Market Structure
15.2. Competitive Benchmarking
15.3. Key Strategy Analysis
15.4. Company Profiles
15.4.1. Caterpillar Inc.
15.4.1.1. Company Overview
15.4.1.2. Source/Service Offerings
15.4.1.3. Key Financials
15.4.1.4. Recent Developments
15.4.2. Atlas Copco AB
15.4.2.1. Company Overview
15.4.2.2. Source/Service Offerings
15.4.2.3. Financials
15.4.2.4. Recent Developments
15.4.3. AB Volvo
15.4.3.1. Company Overview
15.4.3.2. Source/Service Offerings
15.4.3.3. Financials
15.4.3.4. Recent Developments
15.4.4. Mine Master Ltd
15.4.4.1. Company Overview
15.4.4.2. Source/Service Offerings
15.4.4.3. Financials
15.4.4.4. Recent Developments
15.4.5. Komatsu
15.4.5.1. Company Overview
15.4.5.2. Source/Service Offerings
15.4.5.3. Financials
15.4.5.4. Recent Developments
15.4.6. Jinan Fucheng Hydraulic Equipment Co Ltd.
15.4.6.1. Company Overview
15.4.6.2. Source/Service Offerings
15.4.6.3. Financials
15.4.6.4. Recent Developments
15.4.7. Hager Equipment
15.4.7.1. Company Overview
15.4.7.2. Source/Service Offerings
15.4.7.3. Financials
15.4.7.4. Recent Developments
15.4.8. MACLEAN
15.4.8.1. Company Overview
15.4.8.2. Source/Service Offerings
15.4.8.3. Financials
15.4.8.4. Recent Developments
15.4.9. Epiroc
15.4.9.1. Company Overview
15.4.9.2. Source/Service Offerings
15.4.9.3. Financials
15.4.9.4. Recent Developments
15.4.10. CMM Equipment
15.4.10.1. Company Overview
15.4.10.2. Source/Service Offerings
15.4.10.3. Financials
15.4.10.4. Recent Developments
15.4.11. Maccaferri Environmental Sol. Pvt. Ltd.
15.4.11.1. Company Overview
15.4.11.2. Source/Service Offerings
15.4.11.3. Financials
15.4.11.4. Recent Developments
15.4.12. Titan Ltd.
15.4.12.1. Company Overview
15.4.12.2. Source/Service Offerings
15.4.12.3. Financials
15.4.12.4. Recent Developments
15.4.13. FAMUR SA
15.4.13.1. Company Overview
15.4.13.2. Source/Service Offerings
15.4.13.3. Financials
15.4.13.4. Recent Developments
15.4.14. Yantai Jiaxiang Mining Machinery Co. Ltd.
15.4.14.1. Company Overview
15.4.14.2. Source/Service Offerings
15.4.14.3. Financials
15.4.14.4. Recent Developments
15.4.15. J.C. Bamford Excavators Ltd.
15.4.15.1. Company Overview
15.4.15.2. Source/Service Offerings
15.4.15.3. Financials
15.4.15.4. Recent Developments
15.4.16. Sandvik AB
15.4.16.1. Company Overview
15.4.16.2. Source/Service Offerings
15.4.16.3. Financials
15.4.16.4. Recent Developments
16. Disclaimer
Every Sample Includes
Research Methodology
Complete Table of Contents, List of Charts and Tables
Exclusive Facts & Illustrations
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