Fior Markets launched a study titled “Global Mining Equipment Market by Equipment Category, Electric Equipment Type (Mining Trucks, LHD), Industry, Autonomous Equipment Type (Surface Mining, Underground Mining), Region” and Global Forecast 2018-2025.
The global mining equipment market is expected to grow from USD 76.84 billion in 2017 to USD 143.41 billion by 2025 at a CAGR of 7.39% during the forecast period from 2018-2025. Replacement of the aging fleet, increasing mineral production, rising demand for metals and supplies around the globe, upcoming emission regulations to boost advancements in engine and exhaust technologies are the major trends for the demand of the market.
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Crushing, pulverizing, & screening equipment segment held highest market share of 24.31% in 2017
Equipment category segment included drill & beaker, crushing, pulverizing, & screening equipment, mineral processing equipment, surface mining equipment, and underground mining equipment. The crushing, pulverizing, & screening equipment segment held highest market share of 24.31% in 2017 due to their increased usage in mining. They are used in open and closed mining pits.
Metal segment is anticipated to grow with highest CAGR 9.73% over the forecast period
Industry segment is divided into coal, metal, and minerals. Metal segment is anticipated to grow with highest CAGR 9.73% over the forecast period. Here the contributing factors include Implementation of government schemes, growing local demand, and improving production capacity. 30.30
Surface mining is expected to hold the largest share of 59.41% during the forecast period
Autonomous equipment type segment is segmented as surface mining and underground mining. The surface mining segment is further covers articulated dump truck, crawler dozer, crawler excavator, motor grader, and rigid dump truck. The underground mining segment is further divided into drills, electric shovels, hydraulic excavators, mining dozers, mining trucks, and wheeled loaders. Surface mining is expected to hold the largest share of 59.41% during the forecast period. Surface mining helps to improve the profitability of the business and are easy to use.
Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia Pacificvalued around USD 26.26 billion in 2017.Development of high-performance equipment with increased automation, growth in mining operations, growing investments in mineral exploration tools, and demand for equipment has increased the growth of mining equipment market in Asia Pacific region.
The major players ofmarketinclude AB Volvo, Caterpillar Inc., Deere & Company, Doosan Corporation, Epiroc AB, Hitachi, Ltd., Komatsu Ltd., Liebherr-International AG, Metso Corporation, Sandvik AB, Liebherr Group, Atlas Copco, Terex, Sany, Hyundai Heavy Industries, Schulte Strathaus, Astec Industries, RTM Equipment, Konecranes, XCMG, JSC, and others.
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