The Mining Equipment Market is Estimated to be USD 77.7 Billion in 2018 and is Projected to Reach USD 112.3 Billion by 2025, at a CAGR of 5.40%
DUBLIN, Dec. 18, 2018 /PRNewswire/ --
The "Mining Equipment Market by Category, Electric Equipment, Propulsion, Industry, Autonomous Equipment, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Mining Equipment Market is Estimated to be USD 77.7 Billion in 2018 and is Projected to Reach USD 112.3 Billion by 2025, at a CAGR of 5.40%.
Population growth has increased the demand for raw materials. In recent times, the commodity prices have stabilized from the uncertainty in 2015-2016. This augurs well for mining equipment manufacturers as the demand for mining equipment is dependent on the global economy. The increasing demand for iron, copper, coal, graphite etc., is expected to drive the mining equipment market.
Emission regulations also have a significant impact on the mining equipment market. Environmental concerns and growing awareness of the harmful effects of vehicular emissions have forced engine manufacturers to develop engines that comply with emission norms. These regulations will drive the demand for new mining equipment.
Mining has several socioeconomic consequences such as the relocation/resettlement of host communities and its negative effects, disturbance to flora and fauna, land degradation, and noise, air, and water pollution. These consequences can restrain the mining activity in a region, which in turn restricts the growth of mining equipment market. The introduction of autonomous mining equipment by major players provides a significant opportunity for the growth of mining equipment market. Autonomous mining equipment improves safety and increases productivity of a mine site as it can work 24hours.
The coal mining equipment market in Asia Oceania region is projected to grow at a CAGR of 5.98% during the forecast period. According to a key industry expert, 70% of coal mined in China is used for its domestic consumption. India is the second largest consumer of coal after China. Asia Oceania accounts for 75% of the world's coal demand, making the region the largest mining equipment market. Hence, Asia Oceania is estimated to be the largest mining equipment market in 2018.
Market growth in the region can be attributed to the large population and increasing domestic demand for raw materials such as iron, copper, and coal.The mining equipment market is dominated by key industry players such as Caterpillar (US), Volvo Construction Equipment (Sweden), Komatsu (Japan), Sandvik (Sweden), and Liebherr (Switzerland).
These players adopted the strategies of expansion, new product development, and acquisition to increase their share in the mining equipment market. Companies adopted the strategy of expansion to diversify and strengthen their business networks.
For instance, in March 2018, Liebherr established a new facility in Rognac, France. It would provide sales, rental, and service of earthmoving, material handling, and construction machines. New product development, which provides a competitive edge in the market, was another major strategy adopted by industry players.
For instance, in November 2018, Volvo Construction has launched rigid haulers. The range consists of four machines, starting at the 45-ton R45D and extending up to 100-ton R100E.
Key Topics Covered:
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Currency
1.5 Limitations
1.6 Package Size
1.7 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Secondary Data
2.3 Primary Data
2.4 Market Size Estimation
2.5 Market Breakdown and Data Triangulation
2.6 Assumptions
3 Executive Summary
4 Premium Insights
4.1 Mining Equipment Market - Global Trends
4.2 Mining Equipment Market, By Equipment Category
4.3 Mining Equipment Market, By Electric Equipment Type
4.4 Mining Equipment Market, By Autonomous Equipment
4.5 Mining Equipment Market, By Industry
4.6 Mining Equipment Market, By Propulsion
4.7 Mining Equipment Market, By Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increase in Demand for Metals and Commodities Around the Globe to Boost the Demand for Mining Equipment
5.2.1.2 Upcoming Emission Regulations to Boost Advancements in Engine and Exhaust Technologies
5.2.2 Restraints
5.2.2.1 Growing Market for Used Equipment and Local/Unorganized Players
5.2.2.2 Environmental and Human Rights Concerns
5.2.3 Opportunities
5.2.3.1 Autonomous Mining Equipment to Have A Major Impact During the Forecast Period
5.2.3.2 Digital Mining
5.2.4 Challenges
5.2.4.1 Lack of Standardization and High Production Cost are Major Challenges for Manufacturers
5.2.4.2 High Cost of Equipment to Hinder the Mining Equipment Market Growth
6 Industry Trend
6.1 Introduction
6.2 Value Chain
6.3 Off Highway OEMS & Product Offerings
6.4 Porter's Five Forces Analysis
6.4.1 Threat of New Entrants
6.4.2 Threat of Substitutes
6.4.3 Bargaining Power of Suppliers
6.4.4 Bargaining Power of Buyers
6.4.5 Intensity of Competitive Rivalry
7 Mining Equipment Market, By Equipment Category
7.1 Introduction
7.1.1 Research Methodology
7.1.2 Assumptions
7.1.3 Industry Insights
7.2 Crushing, Pulverizing, and Screening Equipment
7.2.1 North America is the Second Largest Market for Crushing, Pulverizing, and Screening Equipment
7.3 Drills & Breakers
7.3.1 Asia Oceania is the Largest Growing Market for Drills & Breakers
7.4 Mineral Processing Equipment
7.4.1 Asia Oceania is the Fastest Growing Market for Mineral Processing Equipment
7.5 Surface Mining Equipment
7.5.1 Articulated Dump Truck
7.5.1.1 Europe is Estimated to Be the Largest Market for Articulated Dump Trucks
7.5.2 Crawler Dozer
7.5.2.1 North America is the Largest Market for Crawler Dozers
7.5.3 Crawler Excavator
7.5.3.1 Asia Oceania is the Fastest Growing Market for Crawler Excavators
7.5.4 Motor Grader
7.5.4.1 North America is the Largest Market for Motor Graders
7.5.5 Rigid Dump Truck
7.5.5.1 North America is the Largest Market for Rigid Dump Trucks
7.6 Underground Mining Equipment
7.6.1 Drills
7.6.1.1 Asia Oceania is Expected to Be the Largest Market for Drills
7.6.2 Electric Shovels
7.6.2.1 Asia Oceania is the Largest and Fastest Growing Market for Electric Shovels
7.6.3 Hydraulic Excavators
7.6.3.1 Asia Oceania Accounts for More Than 30% of the Hydraulic Excavator Market
7.6.4 Mining Dozers
7.6.4.1 RoW Region is the Fastest Growing Mining Dozers Market
7.6.5 Mining Trucks
7.6.5.1 Asia Oceania is Projected to Have More Than 40% of the Mining Truck Market in 2025
7.6.6 Wheeled Loaders
7.6.6.1 Asia Oceania is the Fastest Growing Market for Wheeled Loaders
8 Mining Equipment Market, By Industry
8.1 Introduction
8.1.1 Research Methodology
8.1.2 Assumptions
8.1.3 Industry Insights
8.2 Coal
8.2.1 Increasing Energy Demand is Expected to Drive the Coal Mining Equipment Market
8.3 Metal
8.3.1 Asia Oceania Estimated to Be the Largest Metal Mining Equipment Market
8.4 Minerals
8.4.1 Asia Oceania to Be the Fastest Growing Mineral Mining Equipment Market
9 Mining Equipment Market, By Propulsion
9.1 Introduction
9.1.1 Research Methodology
9.1.2 Assumptions
9.1.3 Industry Insights
9.2 Diesel
9.2.1 Higher Density Makes Diesel the Preferred Fuel for Mining Equipment
9.3 Gasoline
9.3.1 Gasoline has the Minimal Share in the Mining Equipment Market
9.4 CNG/LNG/Others
9.4.1 Alternate Fuel Mining Equipment to Record the Fastest Growth
10 Electric Mining Equipment Market, By Equipment Type
10.1 Introduction
10.1.1 Research Methodology
10.1.2 Assumptions
10.1.3 Industry Insights
10.2 Mining Trucks
10.2.1 Electric Mining Trucks Account for Larger Share in Asia Oceania
10.3 Lhd (Load, Haul, Dump)
10.3.1 Asia Oceania Registered Largest and Fastest Growth for Lhd Due to Increase in Mining Activities in the Region
11 Autonomous Mining Equipment Market, By Equipment Category
11.1 Introduction
11.1.1 Research Methodology
11.1.2 Assumptions
11.1.3 Industry Insights
11.2 Surface Mining
11.2.1 Europe Accounts for the Fastest Market Growth in the Autonomous Surface Mining Equipment Market
11.3 Underground Mining
11.3.1 The North American Underground Mining Market Registered Fastest Growth Due to Presence of Key Players in This Region
12 Mining Equipment Market, By Region
12.1 Introduction
12.2 Asia Oceania
12.2.1 China
12.2.1.1 Crawler Excavator to Have Major Share in the China Mining Equipment Market
12.2.2 India
12.2.2.1 Mining Trucks to Showcase Exponential Growth in the Indian Mining Equipment Market
12.2.3 Japan
12.2.3.1 Mining Trucks to Register Fastest Growth in the Japanese Mining Equipment Market
12.3 Europe
12.3.1 France
12.3.1.1 Rigid Dump Trucks Accounts to Have Fastest Growth During the Forecast Period
12.3.2 Germany
12.3.2.1 Crawler Excavator to Be the Largest German Mining Equipment Market
12.3.3 Italy
12.3.3.1 as Among the Largest Steel Producers Italy Accounts to Have Significant Share in the Overall Market
12.3.4 Spain
12.3.4.1 Mining Trucks Accounts to Have Largest & Fastest Growth in the Spain Mining Equipment Market
12.3.5 Uk
12.3.5.1 Motor Grader to Register Fastest Growth in the UK Mining Equipment Market
12.3.6 Rest of Europe
12.3.6.1 Mining Trucks Accounts to Have Largest Share in Rest of Europe
12.4 North America
12.4.1 Canada
12.4.1.1 Rigid Dump Trucks to Witness the Fastest Growth During the Forecast Period
12.4.2 Mexico
12.4.2.1 Motor Grader to Account for the Largest Market in the Mexican Mining Equipment Market
12.4.3 Us
12.4.3.1 Rigid Dump Trucks Accounts to Have Fastest Growth in the US Mining Equipment Market
12.5 Rest of the World (RoW)
12.5.1 Brazil
12.5.1.1 Mining Trucks to Have the Largest Market
12.5.2 Russia
12.5.2.1 Crawler Excavator is Estimated to Have Maximum Demand During the Forecast Period
12.5.3 South Africa
12.5.3.1 Mining Trucks are Estimated to Have Largest Market During the Forecast Period
12.5.4 Rest of RoW
12.5.4.1 Mining Trucks to Witness the Fastest Growth
13 Competitive Landscape
13.1 Introduction
13.2 Market Share Analysis
13.3 Competitive Scenario
13.3.1 New Product Developments
13.3.2 Expansions
13.3.3 Mergers & Acquisitions
13.3.4 Partnerships/Agreements/Supply Contracts/ Collaborations/Joint Ventures
14 Company Profile
14.1 Caterpillar
14.2 Volvo Construction Equipment
14.3 Komatsu
14.4 Sandvik
14.5 Liebherr
14.6 Hitachi Construction Machinery
14.7 Terex
14.8 Atlas Copco
14.9 Sany
14.10 Doosan
14.11 Additional Company Profiles
14.11.1 North America
14.11.1.1 Equipment North
14.11.1.2 RTM Equipment
14.11.1.3 Dakota Equipment Manufacturing
14.11.1.4 Astec Industries
14.11.2 Europe
14.11.2.1 Schulte Strathaus
14.11.2.2 Mine Master
14.11.2.3 Konecranes
14.11.3 Asia Oceania
14.11.3.1 XCMG
14.11.3.2 BEML
14.11.3.3 Hyundai Heavy Industries
14.11.4 RoW
14.11.4.1 JSC
14.11.4.2 Aard Mining Equipment
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