Mining Equipment Market Size with Primary Vendors (Caterpillar Inc., Komatsu Ltd., Liebherr Group) with Growing Forecast till 2023

Tue Jan 8, 2019 - 11:00am UTC

Mining Equipment Market Report Covers drivers, restraints, opportunities, challenges, and market trends, This Report Highlights the Growth Strategies adopted by the major market players to garner large shares in the Mining Equipment market.

Pune, India – January 8, 2019

Mining is the Extraction of Valuable Minerals or other geological materials from the earth, usually from an orebody, lode, vein, seam, reef or placer deposit. These deposits form a mineralized package that is of economic interest to the miner.

There Are Four Main Mining Methods: Underground, Open Surface (Pit), Placer, And In-Situ Mining. Underground mines are more expensive and are often used to reach deeper deposits.

The Mining Industry Has Witnessed a Severe downfall since its peak in 2011 and has plunged about 73%, accounting for nearly USD 1.4 trillion shareholding value until late 2016. However, the industry is currently experiencing a positive phase, with commodity prices rising and augmenting the demand for raw materials. Majorly, mining of high priced metals like gold, copper, and other ores are expected to drive the market.

The Ever-Increasing Demand For These Materials has caused the mining equipment manufacturers to come up with better and more advanced equipment. The mining equipment manufacturers can look at opportunities, like the automation of machinery to attract customers for capturing the largest share of the market. The market is driven by the growing resource exploration and augmenting demand for raw materials.

Mining, As An Industry, Deploys Substantial Capital Investment and Among The Total, over 1/3rd is for mining equipment. Any country which hosts mining operations is bound to have monetary, labor employment, and local industry benefits. Among the beneficiaries, equipment and service suppliers are the largest ones, accounting for about 69% of the benefits from any particular mining activity in the country. The value indicates a prolific market for mining equipment in the global scenario.

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A transition has been observed from underground to the more economical, open-pit mining, which is expected to drive the demand for mining equipment during the forecast period. Furthermore, the development of high-performance equipment, with increased automation, has made extraction of ores with declining grades comparatively cheaper. For example, Ericson, along with ABB and Volvo, use 5G technology, with which they run loaders and excavators through the Kankberg mine in Boliden, Sweden. These equipment are fully automated and also pave the way for further adoption of automated machinery in mines, globally.

Owing to the new projects of thermal power energy, the demand for coal mining in China has increased drastically. However, as many small players are present in China, the inability of these players to purchase new equipment (owing to the lack of required capital) forces them to rent equipment for various projects and return it to the suppliers. This indicates a rise in the demand for rental markets for mining equipment. The trend is expected to extend to the African and Latin American countries, Indonesia, etc. Some rental companies are also joining hands to increase their product portfolio. For instance, Emeco has merged with Orionstone and Andy’s Earthmovers and has increased the fleet size to approximately 730 machines. The dependent markets (related to mining equipment), like OTR tire market, paints & coatings market, are also poised to record a stipulated growth.

A separate section with Mining Equipment industry key players is included in the report, which provides a comprehensive analysis of price, cost, gross, revenue, product picture, specifications, company profile, and contact information. Development and Research plays a vital role towards the innovation in any given industry which require to execute. Additionally, performing research and development offers a competitive advantage over the competitors owing to regular introduction of products and prototypes to attract consumers. This is expected to have a positive impact on the Mining Equipment market growth over the forecast period.

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Key Developments in the Market:

February 2018: RDH Mining Equipment, a Sudbury-area manufacturer of underground mining equipment, was sold to Germany company SMT Scharf AG for $8 million
April 2017: Komatsu completed the acquisition of Joy Global, a surface and underground mining equipment manufacturer for USD 3.7 billion. From now on, Joy Global will be referred to as Komatsu mining group

Major Players: CATERPILLAR INC., KOMATSU LTD., LIEBHERR GROUP, SANDVIK MININ, HITACHI LTD., ATLAS COPCO, METSO CORP., amongst others.

Reasons to Purchase this Report 

To know whether the decline in coal mining, owing to weak metallurgical and thermal coal prices, along with cheaper natural gas and existing stockpiles of coal may hinder the market’s growth
To know about the effects of the acquisition of Joy Global, on the mining equipment market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Study on the region expected to witness the fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet in excel

Customization of the Report

This report can be customized to meet the desired requirements. Please connect with our analyst, who will ensure you get a report that suits your needs

Mining Equipment Market Forecast 2018-2023

The Mining Equipment industry research report analyses the supply, sales, production, and market status comprehensively. Production market shares and sales market shares are analysed along with the study of capacity, production, sales, and revenue. Several other factors such as import, export, gross margin, price, cost, and consumption are also analysed under the section Analysis of Mining Equipment production, supply, sales and market status.

Lastly, this report covers the market landscape and its growth prospects over the coming years, the Report also brief deals with the product life cycle, comparing it to the relevant products from across industries that had already been commercialized details the potential for various applications, discussing about recent product innovations and gives an overview on potential regional market shares.

Price of Report (single User Licence): $4250

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Contact Info:
Name: Mr. Ajay More
Organization: Market Reports World
Address: Baner, Pune
Phone: +1408 520 9750
Website: https://www.marketreportsworld.com

Video URL: https://www.marketreportsworld.com/global-mining-equipment-market-growth-trends-and-forecast-2018-2023–12345187

This news is published on Reuters.

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