Underground Mining Equipment Market - Key Market Dynamics
- Market Driver - The availability of efficient and safe underground mining equipment is one of the key drivers supporting the underground mining equipment market growth. Mining areas are generally characterized by high-intensity noise, vibrations, and dust. Prolonged exposure to noise and dust causes detrimental effects on the health of drilling operators. This has led to increased demand for novel machinery for mining activities that can improve the working condition in mining areas. Despite the entry of such products into the market, hearing loss among miners remains one of the most common occupational hazards.
- Market Challenges - The high cost of underground mining equipment is one of the factors hampering the underground mining equipment market growth. The high price of underground mining equipment has influenced end-users to prefer renting to purchasing it. Significantly, the cost of procuring new underground mining equipment is invested in other activities, which helps these companies maintain their market position for an extended period.
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Underground Mining Equipment Market - Segmentation Analysis
The underground mining equipment market report is segmented by Application (Room and pillar mining, Longwall mining, Borehole mining, and Others) and Geography (APAC, North America, Europe, South America, and the Middle East and Africa).
- Regional Highlights - 55% of the market's growth will originate from APAC during the forecast period. China, India, and Australia are the key markets for the underground mining equipment market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
- Revenue Generating Segment - The underground mining equipment market share growth in the room and pillar mining segment will be significant for revenue generation. Room and pillar mining is usually done for relatively flat-lying deposits. This type of mining is typically used to extract iron, coal, and base metal ores. Typical machines used in this type of mining are haulage machines, mining drills, continuous miners, roof bolters, and s.coops.
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Underground Mining Equipment Market - Vendor Analysis
The underground mining equipment market is fragmented and the vendors are deploying growth strategies such as equipment price and capacity, technology, innovation, and quality to compete in the market.
- AB Volvo
- Atlas Copco AB
- Boart Longyear Ltd
- Caterpillar Inc.
- CME Blasting and Mining Equipment Ltd
- CMM Cocental SAS
- FURUKAWA Co. Ltd
- Guizhou Sinodrills Equipment Co. Ltd
- Hitachi Construction Machinery Co. Ltd.
- Kennametal Inc.
- Komatsu Ltd.
- Mindrill Systems and Solutions Pvt. Ltd.
- Resemin SA
- REVATHI EQUIPMENT Ltd
- ROCKMORE International Inc.
- Sandvik AB
- Schmidt Kranz and Co Gmbh
- Sulzer Ltd.
- TEI Rock Drills
- Yantai Jiaxiang Mining Machinery Co Ltd
- To gain access to more vendor profiles with their key offerings available with Technavio, Click Here
The competitive scenario provided in the Underground Mining Equipment Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc. Don't wait, Make a strategic approach & boost your business goals with our Underground Mining Equipment Market Forecast Report - Buy Now!
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Underground Mining Equipment Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Decelerate at a CAGR of 3.81% |
Market growth 2022-2026 |
USD 5.93 billion |
Market structure |
Fragmented |
YoY growth (%) |
4.11 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East, and Africa |
Performing market contribution |
APAC at 55% |
Key consumer countries |
US, China, India, Australia, Russia, US, China, India, Australia, and Russia |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
AB Volvo, Atlas Copco AB, Boart Longyear Ltd, Caterpillar Inc., CME Blasting and Mining Equipment Ltd, CMM Cocental SAS, FURUKAWA Co. Ltd, Guizhou Sinodrills Equipment Co. Ltd, Hitachi Construction Machinery Co. Ltd., Kennametal Inc., Komatsu Ltd., Mindrill Systems and Solutions Pvt. Ltd., Resemin SA, REVATHI EQUIPMENT Ltd, ROCKMORE International Inc., Sandvik AB, Schmidt Kranz and Co Gmbh, Sulzer Ltd., TEI Rock Drills, and Yantai Jiaxiang Mining Machinery Co Ltd |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026
5 Market Segmentation by Application
- 5.1 Market segments
- Exhibit 24: Chart on Application - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
- 5.2 Comparison by Application
- Exhibit 26: Chart on Comparison by Application
- Exhibit 27: Data Table on Comparison by Application
- 5.3 Room and pillar mining - Market size and forecast 2021-2026
- Exhibit 28: Chart on Room and pillar mining - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Room and pillar mining - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Room and pillar mining - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Room and pillar mining - Year-over-year growth 2021-2026 (%)
- 5.4 Longwall mining - Market size and forecast 2021-2026
- Exhibit 32: Chart on Longwall mining - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Longwall mining - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Longwall mining - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Longwall mining - Year-over-year growth 2021-2026 (%)
- 5.5 Borehole mining - Market size and forecast 2021-2026
- Exhibit 36: Chart on Borehole mining - Market size and forecast 2021-2026 ($ million)
- Exhibit 37: Data Table on Borehole mining - Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Chart on Borehole mining - Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Borehole mining - Year-over-year growth 2021-2026 (%)
- 5.6 Others - Market size and forecast 2021-2026
- Exhibit 40: Chart on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 41: Data Table on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 42: Chart on Others - Year-over-year growth 2021-2026 (%)
- Exhibit 43: Data Table on Others - Year-over-year growth 2021-2026 (%)
- 5.7 Market opportunity by Application
- Exhibit 44: Market opportunity by Application ($ million)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 46: Chart on Market share by geography 2021-2026 (%)
- Exhibit 47: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 48: Chart on Geographic comparison
- Exhibit 49: Data Table on Geographic comparison
- 7.3 APAC - Market size and forecast 2021-2026
- Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)
- 7.4 North America - Market size and forecast 2021-2026
- Exhibit 54: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on North America - Year-over-year growth 2021-2026 (%)
- 7.5 Europe - Market size and forecast 2021-2026
- Exhibit 58: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on Europe - Year-over-year growth 2021-2026 (%)
- 7.6 South America - Market size and forecast 2021-2026
- Exhibit 62: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on South America - Year-over-year growth 2021-2026 (%)
- 7.7 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 66: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- 7.8 China - Market size and forecast 2021-2026
- Exhibit 70: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on China - Year-over-year growth 2021-2026 (%)
- 7.9 US - Market size and forecast 2021-2026
- Exhibit 74: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on US - Year-over-year growth 2021-2026 (%)
- 7.10 Russia - Market size and forecast 2021-2026
- Exhibit 78: Chart on Russia - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on Russia - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on Russia - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on Russia - Year-over-year growth 2021-2026 (%)
- 7.11 India - Market size and forecast 2021-2026
- Exhibit 82: Chart on India - Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on India - Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on India - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on India - Year-over-year growth 2021-2026 (%)
- 7.12 Australia - Market size and forecast 2021-2026
- Exhibit 86: Chart on Australia - Market size and forecast 2021-2026 ($ million)
- Exhibit 87: Data Table on Australia - Market size and forecast 2021-2026 ($ million)
- Exhibit 88: Chart on Australia - Year-over-year growth 2021-2026 (%)
- Exhibit 89: Data Table on Australia - Year-over-year growth 2021-2026 (%)
- 7.13 Market opportunity by geography
- Exhibit 90: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.3 Impact of drivers and challenges
- Exhibit 91: Impact of drivers and challenges in 2021 and 2026
9 Vendor Landscape
- 9.2 Vendor landscape
- Exhibit 92: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 93: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 94: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 95: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 96: Matrix on vendor position and classification
- 10.3 Atlas Copco AB
- Exhibit 97: Atlas Copco AB - Overview
- Exhibit 98: Atlas Copco AB - Business segments
- Exhibit 99: Atlas Copco AB - Key news
- Exhibit 100: Atlas Copco AB - Key offerings
- Exhibit 101: Atlas Copco AB - Segment focus
- 10.4 Boart Longyear Ltd
- Exhibit 102: Boart Longyear Ltd - Overview
- Exhibit 103: Boart Longyear Ltd - Business segments
- Exhibit 104: Boart Longyear Ltd - Key offerings
- Exhibit 105: Boart Longyear Ltd - Segment focus
- 10.5 Caterpillar Inc.
- Exhibit 106: Caterpillar Inc. - Overview
- Exhibit 107: Caterpillar Inc. - Business segments
- Exhibit 108: Caterpillar Inc. - Key offerings
- Exhibit 109: Caterpillar Inc. - Segment focus
- 10.6 FURUKAWA Co. Ltd
- Exhibit 110: FURUKAWA Co. Ltd - Overview
- Exhibit 111: FURUKAWA Co. Ltd - Business segments
- Exhibit 112: FURUKAWA Co. Ltd - Key offerings
- Exhibit 113: FURUKAWA Co. Ltd - Segment focus
- 10.7 Guizhou Sinodrills Equipment Co. Ltd
- Exhibit 114: Guizhou Sinodrills Equipment Co. Ltd - Overview
- Exhibit 115: Guizhou Sinodrills Equipment Co. Ltd - Product / Service
- Exhibit 116: Guizhou Sinodrills Equipment Co. Ltd - Key offerings
- 10.8 Hitachi Construction Machinery Co. Ltd.
- Exhibit 117: Hitachi Construction Machinery Co. Ltd. - Overview
- Exhibit 118: Hitachi Construction Machinery Co. Ltd. - Product / Service
- Exhibit 119: Hitachi Construction Machinery Co. Ltd. - Key offerings
- 10.9 Kennametal Inc.
- Exhibit 120: Kennametal Inc. - Overview
- Exhibit 121: Kennametal Inc. - Business segments
- Exhibit 122: Kennametal Inc. - Key news
- Exhibit 123: Kennametal Inc. - Key offerings
- Exhibit 124: Kennametal Inc. - Segment focus
- 10.10 Komatsu Ltd.
- Exhibit 125: Komatsu Ltd. - Overview
- Exhibit 126: Komatsu Ltd. - Business segments
- Exhibit 127: Komatsu Ltd. - Key news
- Exhibit 128: Komatsu Ltd. - Key offerings
- Exhibit 129: Komatsu Ltd. - Segment focus
- 10.11 Resemin SA
- Exhibit 130: Resemin SA - Overview
- Exhibit 131: Resemin SA - Product / Service
- Exhibit 132: Resemin SA - Key offerings
- 10.12 Sandvik AB
- Exhibit 133: Sandvik AB - Overview
- Exhibit 134: Sandvik AB - Business segments
- Exhibit 135: Sandvik AB - Key news
- Exhibit 136: Sandvik AB - Key offerings
- Exhibit 137: Sandvik AB - Segment focus
11 Appendix
- 11.2 Inclusions and exclusions checklist
- Exhibit 138: Inclusions checklist
- Exhibit 139: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 140: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 141: Research methodology
- Exhibit 142: Validation techniques employed for market sizing
- Exhibit 143: Information sources
- 11.5 List of abbreviations
- Exhibit 144: List of abbreviations
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