Pune, India, 2017 /MRFR Press Release/- Market research Future published a Cooked research report on Global Underground Mining Equipment Market. The Underground Mining Equipment Market is expected to grow over the CAGR of around 8.50% during the period 2022 to 2030.
Market Highlights
The major factor driving the growth of the global underground mining equipment market is the increased demand of coal from the energy sector. With rapid urbanization and industrialization across the globe, there has been an increased demand for power generation. This in turn has led to an increased demand for coal, which is a vital resource for energy production by the energy industries. The rapid increase in the demand for various metals such as steel by the manufacturing industries is also contributing to the growth of the market.
Drivers
Market Research Analysis
The Asia-Pacific region is dominating the global underground mining equipment market with 49.54% of share in 2016, in terms of value. It is expected to grow at a CAGR of 8.50% during the forecast period. The growth can be attributed to the increasing demand of metals in the manufacturing of consumer goods. North America is the home of two of the world's largest mining countries, the USA and Canada and is thus expected to grow at a CAGR of 8.50%. In the Europe region, the mining industry is contributing significantly to the growth of the economic growth of the region, thereby driving the growth of the market.
Scope of the Report
This study provides an overview of the global underground mining equipment market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and the Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Underground Mining Equipment Market by its type of mining method, application and region.
By Type of mining method
- Longwall Extraction
- Room and Pillar extraction
By Application
- Coal mining
- Metal mining
- Mineral Mining
By Region
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East & Africa
Key Players
The key players of the Underground Mining Equipment Market are Komatsu Ltd, Caterpillar Inc, Sandvik AB, Volvo AB, Thyssenkrupp AG, Liebherr - International Deutschland GmBh, Hitachi Construction Machinery Co., Ltd, Metso Corporation, FLSmidth Group, Kennametal, Inc. and Boart Longyear Ltd.
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Report details
| Companies Covered | 15 |
| Pages | 125 |
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