Underground Mining Equipment Market Information by Type of Mining Method (Longwall Extraction and Room & Pillar Extraction), by Application (Coal Mining, Metal Mining, and Mineral Mining), and Region - Forecast to 2030

Underground Mining Equipment Market Scenario

The key drivers for the growth of the underground mining equipment market are increased demand of coal from energy sector, growing demand of metal by manufacturing industries and supportive government policies. On the basis of application, coal mining accounted for the largest market share of 43.44% in 2016. The share is attributed to the increasing demand of coal by energy and power sector, especially from the emerging nations such as Brazil, and India. The countries have shown positive growth indicators in last few years and thus have become major consumers of power and energy due to rapid urbanization and industrialization. Furthermore APAC contributes largely to the overall market share of underground mining equipment market. However, factors such as stringent regulations on the use of coal and unavailability of skilled labor is expected to hamper the growth of the market. The global underground mining equipment market size is expected to reach USD 30,406.6 million by 2023 and is projected to grow at 7.13% CAGR during the forecast period.

Study Objectives of Global Underground Mining Equipment Market

• To provide detailed analysis of the market structure along with forecast for the next 10 years of various segments and sub-segments of the global underground mining equipment market


• To provide insights about factors affecting the market growth


• To analyze the global underground mining equipment market based on various factors- price analysis, supply chain analysis, porters five force analysis etc.


• To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, APAC, Latin America and Middle East & Africa


• To provide country level analysis of the market with respect to the current market size and future prospective


• To provide country level analysis of the market for segment by type of mining method, application and by Region.


• To provide strategic profiling of the key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market


• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global underground mining equipment market 

Segmentation

Regional Analysis of Global Underground Mining Equipment Market APAC accounts for the largest market in the global underground mining equipment market. Countries like China, India, Australia, Indonesia and others dominate Asian mining sector. The countries are also major global producers of commodities such as gold, diamonds, base metals, coal, among others. The region is not only the major producer but also one of the leading consumers of the metal and minerals. China accounted for the largest market share of 67.67% in the APAC underground mining equipment market in 2016. Market Size of Underground Mining Equipment, by Regions, 2016 (USD Million)

Key Players The key players of the global underground mining equipment market include- 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.

Target Audience

• Manufactures


• Raw Materials Suppliers


• Aftermarket supplier


• Research Institute / Education Institute


• Potential Investors


• Key executive (CEO and COO) and strategy growth manager

Product Analysis

• Product matrix which gives a detailed comparison of the market for different recycled product types

Additional Information

• Regulatory Landscape


• Pricing Analysis


• Macroeconomic Indicators

Geographic Analysis

• Geographical analysis across 15 countries

Company Information

• Profiling of 10 key  market players


• In-depth analysis including SWOT analysis, and strategy  information of related to report title


• Competitive landscape including emerging trends adopted by major companies

The report for Global Underground Mining Equipment Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

Report Scope:

Report Attribute/Metric	Details
Market Size	2023: USD 30,406.6 Million 2030: Significant value
CAGR	7.13%(2022–2030)
Base Year	2021
Forecast Period	2022 to 2030
Historical Data	2019 & 2020
Forecast Units	Value (USD Million)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	By Type, By Application, By Region
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Vendors	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.
Key Market Opportunities	Growing demand of metal by manufacturing industries and supportive government policies.
Key Market Drivers	Increased demand of coal from energy sector

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