Mining Equipment Market (By Equipment - Underground Mining [Low Profile Dump Trucks (LPDT), Load Haul and Dump (LHD) Loaders, Surface Mining [Electric Shovels, Excavators, Dumpers, Others], Crushing, Pulverizing, & Screening, Drills & Breakers, Others; By Application - Electric Shovels, Excavators, Dumpers, Others) - Global Industry Size, Share, Trends and Forecast 2018 - 2026

Introduction

The global mining equipment market is project worth $285.5 Billion in 2026 and the market is projected to showcase 12.2% CAGR during the forecast period. The market is driven by augmented acceptance of automation technologies in the field has led to the increased use of connected and smart solutions.

Market Dynamics

Rising drilling and exploration activities across the world are expected to drive the mining equipment market over the coming years. Augmented acceptance of automation technologies in the field has led to the increased use of connected and smart solutions. This, in turn, has delivered substantial occasions to market players for the retrofitting of existing equipment.

Market Insights

The mining equipment market has additional observed acceptance of data analytics to aid expand procedures and decrease operational losses and costs. Big data analytics is used in a majority of the stages involved in mining processes to assist worker’s safety & smart collaboration, security, and smarter procurement of equipment. Since the operations involved are complex, data analytics has evolved as a technological advantage in identifying any equipment breakdown during the mining operation. With increase in deployment of smart equipment the demand for mining equipment is projected to spur.

Market Classification

The global mining equipment market is segmented into four major segment named equipment, application and region. On the basis of equipment the mining equipment market is segmented into underground mining, surface mining, crushing, pulverizing, & screening, drills & breakers and others. These underground mining are further bifurcated into Low Profile Dump Trucks (LPDT) and Load Haul and Dump (LHD) Loaders and the integrated connected devices is also further segmented into electric shovels, excavators, dumpers, and others. On the basis of the application the global mining equipment market is segmented into metal, non-metal, and coal. On the basis of region the global mining equipment market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Regional Insights

In 2017, North America captured largest revenue share and the region is projected to continue its dominance over the forecast period as the government of this region is continuously spending on construction sector, which drives the need for better construction equipment. Other regions for the growth of the North America mining equipment market is the major country of this region named U.S is witnessing huge investment in construction project and its related equipment.

Europe is anticipated to be the second fastest-developing market for mining equipment. Increasing the construction project drives the need for better mining equipment. Asia Pacific region is witnessing huge populace growth, which is driving the need for more residential places, which is driving the need for mining equipment market during the forecast.

Report Coverage

Market Participants

The major players associated with the mining equipment market Komatsu Ltd., Sandvik AB, Caterpillar, Inc., and Atlas Copco AB. Most of these business put concentration on new equipment launch and technical development, strategic partnership activities, and mergers & acquisitions as part of their commercial development tactics. Participant related with mining equipment market are endlessly concentrating on R&D and growth to provide best to the purchaser and ease the best technology to construction sector.

Market Segmentation

Market By Equipment

• Underground Mining
  • Low Profile Dump Trucks (LPDT)
  • Load Haul and Dump (LHD) Loaders
• Surface Mining
  • Electric Shovels
  • Excavators
  • Dumpers
  • Others
• Crushing, Pulverizing, & Screening
• Drills & Breakers
• Others

 Market By Application

• Electric Shovels
• Excavators
• Dumpers
• Others

 Market By Geography

• North America
  • U.S.
  • Canada
  • Mexico

• Europe
  • UK
  • Germany
  • France
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia-Pacific
• Latin America
  • Brazil
  • Chile
  • Rest of Latin America

• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • Rest of MEA