Global Mining Remanufacturing Components Market, 2019-2027: Rising Developments in Electric Equipment and the Growing Presence of Local Players are Concerns for the Market

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Jun 28, 2019, 15:30 ET

DUBLIN, June 28, 2019 /PRNewswire/ -- The "Mining Remanufacturing Components Market By Component (Engine, Hydraulic Cylinder, Axle, Transmission, Differential, Torque Convertor, Final Drive), Equipment (Excavator, Mine Truck, Wheel Loader, Dozer), Industry, Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The Mining Remanufacturing Components Market is Projected to Grow at a CAGR of 3.5%, to Reach a Market Size of USD 5.0 Billion By 2027 from USD 3.8 Billion in 2019.

Lower cost of remanufactured mining components and increasing mining activities will drive the mining remanufacturing components market.

Market growth can be attributed to factors such as lower cost of remanufactured mining components as compared with new parts and growing mining equipment parc across the globe. On the other hand, rising developments in electric mining equipment and the growing presence of local players are few concerns for this market.

Wheel loader is estimated to be the fastest growing market for mining remanufacturing components market, by equipment, during the forecast period

Wheel loader is mainly used to transmit material from one place to another. With the growing mining activity around the globe, the demand for wheel loaders is consistent, and the sales are projected to grow to above average during the forecast period. This makes the wheel loader the fastest growing segment of the mining remanufacturing components market.

Also, some activities cannot be completed by huge bulldozers due to their sizes but can be easily finished using wheel loaders due to their flexibility. This factor is also driving the global wheel loaders market. Americas is the largest market for wheel loaders, followed by Asia Oceania and Europe.

Mining remanufacturing components market for the mineral industry will be the fastest growing for the projected year

Metals considered in the study are iron, copper, and gold as they have the largest deposits. According to the National Bureau of Statistics, Australia, Brazil, China, and India account for the largest iron production. China, Peru, and the US accounted for the highest copper production, whereas China, Russia, and the US accounted for the largest gold production, as of 2017.

Asia Oceania is projected to be the fastest growing market for mining equipment because of vast deposits and increasing commodity prices. China, South Africa, and Russia account for the largest mineral deposits. According to key industry experts, the demand for mining equipment for mining minerals is expected to be more than that for metals and coals.

The Americas and Asia Oceania - The largest and the fastest growing mining remanufacturing component's market, respectively

The Americas is estimated to be the most prominent market for mining remanufacturing components owing to factors such as low-interest rates, increasing demand for commodities coupled with investments in the mining industry. US, Canada, Peru, and Mexico together account for the major market for mining remanufacturing components market due to the significant presence of mining industry in these countries. Asia Oceania region is anticipated to be the fastest growing market for mining remanufacturing components.

The region has witnessed growth in mining operations due to the increasing demand for raw materials. This has resulted in the presence of several international companies in this region. Hence, due to the rising mining activities and the presence of key players, the Asia Oceania market is estimated to be the fastest growing market during the projected years.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Mining Remanufacturing Components Market: Trend, Forecast & Opportunity
4.2 Mining Remanufacturing Components Market, By Region
4.3 Mining Remanufacturing Components Market, By Component
4.4 Mining Remanufacturing Components Market, By Equipment
4.5 Mining Remanufacturing Components Market, By Industry

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Lower Cost of Remanufactured Mining Component
5.2.1.2 Inventory Issues With OEMs for Mining Equipment
5.2.2 Restraints
5.2.2.1 Growing Presence of Local Players
5.2.3 Opportunities
5.2.3.1 Growing Demand for Metals and Commodities Around the Globe
5.2.4 Challenges
5.2.4.1 Rising Development of Electric Mining Equipment

6 Mining Remanufacturing Components Market, By Component
6.1 Introduction
6.1.1 Research Methodology
6.1.2 Assumptions
6.1.3 Industry Insights
6.2 Engine
6.2.1 Asia Oceania is the Fastest Growing Market for Engine Remanufacturing
6.3 Hydraulic Cylinder
6.3.1 Americas is the Largest Market for Hydraulic Cylinder Remanufacturing
6.4 Axle
6.4.1 Asia Oceania is the Second Largest Market for Axle Remanufacturing
6.5 Differential
6.5.1 US and Mexico Have Witnessed Promising Demand for Differential Remanufacturing in Recent Years
6.6 Transmission
6.6.1 Average Replacement Life of Transmission is 10,000-11,500 Operating Hours
6.7 Torque Converter
6.7.1 Remanufacturing of Torque Converters is Cost Effective and Reduces Lead Time
6.8 Final Drive
6.8.1 Asia Oceania is the Fastest Growing Market for Final Drive Remanufacturing

7 Mining Remanufacturing Components Market, By Industry
7.1 Introduction
7.1.1 Research Methodology
7.1.2 Assumptions & Definitions
7.1.3 Industry Insights
7.2 Coal
7.2.1 Asia Oceania is the Largest and Fastest Growing Market for in the Coal Mining Remanufacturing Components Market
7.3 Metal
7.3.1 Americas Leads the Market for Metal Mining Remanufacturing Components Market
7.4 Other Minerals
7.4.1 Increase in Mining Activities is Driving the Demand for Mining Equipment

8 Mining Remanufacturing Components Market, By Equipment
8.1 Introduction
8.1.1 Research Methodology
8.1.2 Assumptions
8.1.3 Industry Insights
8.2 Hydraulic Excavator
8.2.1 Hydraulic Excavator is the Fastest Growing Market
8.3 Mine/Haul Truck
8.3.1 Mine/Haul Truck Accounts for the Largest Share in the Mining Equipment Market
8.4 Wheel Loader
8.4.1 Asia Oceania is the Largest Market for the Wheel Loaders
8.5 Wheel Dozer
8.5.1 The Americas is the Second Largest Market for Wheel Dozers
8.6 Crawler Dozers
8.6.1 Asia Oceania is the Fastest Growing Market for Crawler Dozers

9 Mining Remanufacturing Components Market, By Region
9.1 Introduction
9.1.1 Research Methodology
9.1.2 Assumptions
9.1.3 Industry Insights
9.2 Asia Oceania
9.2.1 Australia
9.2.1.1 Hydraulic Cylinder Accounts for Largest Market in Australia
9.2.2 China
9.2.2.1 Increase in Mining Activities in This Region is Primary Reason for the Growth of Mining Remanufacturing Components Market
9.2.3 India
9.2.3.1 India is Expected to Be the Fastest Growing Market for Mining Remanufacturing Components
9.2.4 Japan
9.2.4.1 Final Drive Accounts for Second Largest Market in Japan
9.3 Europe
9.3.1 France
9.3.1.1 Axle is the Third Largest Market for Mining Remanufacturing Components Market in France
9.3.2 Germany
9.3.2.1 Germany is the Second Largest Market in Europe
9.3.3 Spain
9.3.3.1 Engine is the Fastest Growing Market in Spain
9.3.4 UK
9.3.4.1 Engine is the Fastest Growing Market in UK
9.3.5 Italy
9.3.5.1 Hydraulic Cylinder Accounts for Largest Market in Italy
9.3.6 Russia
9.3.6.1 Russia Accounts for Maximum Share in Europe for Mining Remanufacturing Components Market
9.4 Americas
9.4.1 US
9.4.1.1 US Accounts for Maximum Share in the Americas for Mining Remanufacturing Components Market
9.4.2 Mexico
9.4.2.1 Engine is the Fastest Growing Market in Mexico
9.4.3 Canada
9.4.3.1 Final Drive is the Second Largest Market in Canada
9.4.4 Argentina
9.4.4.1 Torque Converter is the Second Largest Market in Argentina
9.4.5 Peru
9.4.5.1 Peru is the Second Largest Market in the Americas
9.4.6 Chile
9.4.6.1 Engine is the Fastest Growing Market in Chile

10 Competitive Landscape
10.1 Overview
10.2 Mining Remanufacturing Components: Market Ranking Analysis
10.3 Competitive Leadership Mapping
10.3.1 Terminology
10.3.1.1 Visionary Leaders
10.3.1.2 Innovators
10.3.1.3 Dynamic Differentiators
10.3.1.4 Emerging Companies
10.3.2 Strength of Product Portfolio
10.3.3 Business Strategy Excellence
10.4 Competitive Scenario
10.4.1 Expansions
10.4.2 Mergers & Acquisitions
10.4.3 New Product Development
10.4.4 Supply Contract/Partnerships/Joint Ventures/ Collaborations

11 Company Profiles

All Type Hydraulic
Atlas Copco
Axletech
Brake Supply
Cardinal Mining Equipment
Caterpillar
Detroit Reman
Epiroc
Hitachi Construction Machinery
Hydraulex
JCB
John Deere
Komatsu
Liebherr
Pivot Equipment Parts
Pt Sanggar Sarana Baja
SRC Holdings Corporation
Sandvik
Swanson Industries
VOLVO Construction Equipment

For more information about this report visit https://www.researchandmarkets.com/r/tqgofd

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