Mining Equipment Market (By Product:Underground Mining [Low Profile Dump Trucks (LPDT), Load Haul and Dump (LHD) Loaders], Surface Mining [Electric Shoves, Excavators, Dumpers, Others], Crushing, Pulverizing, & Screening, Drills & Breakers, Others; By Application: Metal, Non-metal, Coal) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027

The global mining equipment market is anticipated to grow at a CAGR of around 13.0% during the forecast period 2020 to 2027 and to reach around US$ 382.1 Bn by 2027.

Market Dynamics

Increasing exploration activities related to bauxite, iron ore, and coal in developing countries, rising construction and reconstruction activities in emerging economies is resulting in rising demand for low profile dump trucks (LPDT) and load haul and dump (LHD) loaders this is major factor expected to drive the growth of global market. In addition, favorable government policies, high expenditure and increasing digital mining innovation are among other factors expected to further support the growth of target market.

Major players are focused on business expansion through strategic merger and acquisition in order to increase the business presence and enhance the customer base this is another important factor expected to augment to growth of target market.

• In 2018, Sandvik acquired Inrock a leading supplier of rock drilling tools and services for Horizontal Directional Drilling (HDD) in North America. This acquisition is expected to help the company to strengthen its position in North America and enhance the customer base.
• In 2018, Liebherr a global manufacturer of construction and mining equipment established new facility with total area of 43,000 square meters in Rognac, France. This is expected to help the company to expand its customer base and cater to demand for sales, rental, and servicing of earthmoving, material handling, and construction machines.

In addition, players focus on innovative product offerings is another factor expected to further support the growth of target market.

• In 2018, Epiroc, a leading productivity partner for the mining, infrastructure and natural resources industries launched a second generation of battery-operated machines that will lower mining customers’ costs and promote a healthier work environment. This is expected to help the company to enhance the customer base.
• In 2018, Volvo Construction a leading manufacturer of construction equipment used 3D printing in order to effectively provide spare parts to customers. This is expected to help the company to strengthen its position in global market.

However, factors such as high capital investment and high cost associated to operation and maintenance of the equipments are expected to hamper the growth of global mining equipment market. In addition, availability of rental option is another factor expected to challenge the growth of target market.

Rapid technological advancements and innovative cost-effective product offerings by major players are factors expected to create new opportunities for players operating in the target market over the forecast period. In addition, increasing partnerships and agreements between regional and international players is another factor expected to revenue support the growth if target market.

Mining Equipment Market Segment Analysis, 2019

The global mining equipment market is segmented into equipments and application. The equipment segment is further bifurcated into underground mining, surface mining, electric shoves, crushing, pulverizing, & screening, drills & breakers, and others. Among application metal segment is expected to account for significant revenue share in the global market.

Segment Analysis by Region

The market in North America is expected to account for significant revenue share owing to high government spending on digital mine. In addition, presence of major players operating in the country and innovative product offerings is another important factor expected to further support the growth of regional market.

Asia Pacific is expected to witness faster growth in the near future owing to rising construction and reconstruction activities. In addition, high coal exploration activities in developing countries and players inclination towards emerging economies in order to track the untapped market is another important factor expected to further support the growth of target market.

Competitive Landscape

The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.

Report coverage

Market	Global Mining Equipment Market
Analysis Period	2016 – 2027
Base Year	2019
Forecast Data	2020 – 2027
Market Stratification	Product, Application, and Geography
Regional Scope	North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Report Coverage	Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

The market research study on “Mining Equipment Market (Product: Underground Mining, Surface Mining, Electric Shoves, Crushing, Pulverizing, & Screening, Drills & Breakers, and Others; Application: Metal, Non-metal, and Coal) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027”, offers a detailed insights on the global mining equipment market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global mining equipment market segment by product, application, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global mining equipment market size and segment markets by product, application, and geography along with the information on companies operating in the market. The mining equipment market analysis is provided for major regional market including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report. The players profiled in the report Caterpillar, Volvo Construction Equipment, Komatsu, Doosan, Sandvik, Liebherr, Hitachi Construction Machinery, Terex, Atlas Copco, and Sany.

Market Segmentation

Market By Product

Underground Mining

• Low Profile Dump Trucks (LPDT)
• Load Haul and Dump (LHD) Loaders

Surface Mining

• Electric Shoves
• Excavators
• Dumpers
• Others

Crushing, Pulverizing, & Screening

Drills & Breakers

Others

Market By Application

Metal

Non-metal

Coal

Market By Region

North America

• US
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest if Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Meddle East & Africa