Underground Mining Equipment Market Growth, Trends, Size, Manufacturers and Future Challenges
Underground Mining Equipment Market Size- By Product Type, By Mining Technique, By Mining Method, By Application, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Apr-2023 | Report ID: MACH2322 | Pages: 1 - 234 | Formats*: |
| Category : Equipment and Machinery | |||
Global Underground Mining Equipment Market Overview
According to SPER Market Research, the Global Underground Mining Equipment Market is estimated to reach USD 231.45 billion by 2033 with a CAGR of 4.84%.
Equipment used for performing underground activities in the mining sector, such as loaders, trucks, and diggers, is referred to as underground mining equipment. The process of extracting minerals and ores from the deep layers of the earth's crust is known as underground mining. The two main categories of underground mining methods are hard mining and soft mining. Hard underground mining involves the excavation of hard minerals like gold, silver, copper, nickel, lead, and other metals. However, soft underground mining techniques are used to recover minerals including potash, coal, oil shale, and other minerals. Depending on the type of mineral that needs to be mined, many types of mining equipment are offered on the market. Overhead loaders, draglines, shovels, haul trucks, front end loaders, gathering-arm loaders, conveyors, etc. are tools used in underground mining.
Exploring the Growth Drivers of the Global Underground Mining Equipment Industry.
The global underground mining equipment industry has been growing steadily over the years, and there are several growth drivers behind this trend. One of the main growth drivers is the increasing demand for minerals and metals. As the world's population continues to grow, so does the demand for resources such as copper, gold, and iron ore. These resources are essential for various industries, including construction, electronics, and transportation. As a result, there is a growing need for underground mining equipment to extract these resources. Additionally, the underground mining equipment industry has seen significant advancements in recent years, with the development of advanced drilling and cutting technologies, automation, and improved safety features. These advancements have increased the efficiency and safety of underground mining operations, making them more attractive and profitable for mining companies.
-012023817042023.jpg)
What challenges does the Global Underground Mining Equipment face?
Mining is an important industry that provides essential resources such as minerals and metals for various uses. Underground mining, in particular, involves extracting these resources from beneath the earth's surface. However, this process is not without its challenges, and the global underground mining equipment market faces several obstacles. One significant challenge is the cost and complexity of the equipment required for underground mining. This equipment needs to be specialized and designed to work in the unique conditions of underground mining, such as low light, high temperatures, and limited space. Additionally, this equipment needs to be maintained regularly, which can be costly.
In what ways has the COVID-19 pandemic affected Global Underground Mining Equipment Market?
The abrupt COVID-19 pandemic breakout had caused the imposition of strict lockdown laws across a number of nations, which temporarily halted many mining operations and had a detrimental effect on the global market for underground mining equipment. The world economy was immediately impacted by the COVID-19 epidemic, and this effect was seen across all sectors, including mining. Major commodities all experienced significant price decreases, however in other cases, prices remained stable. Due to a lack of equipment operators, underground mining operations have ceased in the United States and elsewhere in the world. Furthermore, due to the disruption of the transportation systems caused by the shutdown, metal and one quarries and processing facilities have suspended operations
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Product Type, By Mining Technique, By Mining Method, By Application, By End User |
| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America |
| Companies Covered | BELAZ, Caterpillar Inc., Epiroc AB, Hitachi Construction Machinery Co., Ltd., Komatsu Ltd., Liebherr, Sandvik AB, Sany Group Co., Ltd., Volvo, XCMG Group |
Target Audience:
- Aftermarket Supplier
- Manufacturers
- Potential Investors
- Raw Materials Suppliers
- Research Institute/Education
Global Underground Mining Equipment Market Segmentation:
1. By Product Type:
- Continuous Miners
- Mining Bolters
- Mining Drills
- Mining Excavators & Shovels
- Mining Loaders
- Mining Scalers
- Mining Shearer
- Mining Trucks
2. By Mining Technique:
- 8Hard Rock Mining
- Soft Rock Mining
3. By Mining Method:
- Longwall Extraction
- Room & Pillar Extraction
4. By Application:
- Coal Mining
- Metal Mining
- Mineral Mining
5. By End User:
- Mining Operators
- Rental Service Provider
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- Latin America
Key Topics Covered in the Report:
- Global Underground Mining Equipment Market Size (FY’2023-FY’2033)
- Overview of Global Underground Mining Equipment Market
- Segmentation of Global Underground Mining Equipment Market By Product Type (Continuous Miners, Mining Bolters, Mining Drills, Mining Excavators & Shovels, Mining Loaders, Mining Scalers, Mining Shearer, Mining Trucks)
- Segmentation of Global Underground Mining Equipment Market By Mining Technique (Hard Rock Mining, Soft Rock Mining)
- Segmentation of Global Underground Mining Equipment Market By Mining Method (Longwall Extraction, Room & Pillar Extraction)
- Segmentation of Global Underground Mining Equipment Market By Application (Coal Mining, Metal Mining, Mineral Mining)
- Segmentation of Global Underground Mining Equipment Market By End User (Mining Operators, Rental Service Provider)
- Statistical Snap of Global Underground Mining Equipment Market
- Growth Analysis of Global Underground Mining Equipment Market
- Problems and Challenges in Global Underground Mining Equipment Market
- Competitive Landscape in the Global Underground Mining Equipment Market
- Impact of COVID-19 and Demonetization on Global Underground Mining Equipment Market
- Details on Recent Investment in Global Underground Mining Equipment Market
- Competitive Analysis of Global Underground Mining Equipment Market
- Key Players in the Global Underground Mining Equipment Market
- SWOT Analysis of Global Underground Mining Equipment Market
- Global Underground Mining Equipment Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1 Research data source2.1.1 Secondary data2.1.2 Primary data2.1.3 SPER’s internal database2.1.4 Premium insight from KOL’s2.2 Market size estimation2.2.1 Top-down and Bottom-up approach2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1 Drivers4.1.2 Restraints4.1.3 Opportunities4.1.4 Challenges4.2. COVID-19 Impacts of the Global Underground Mining Equipment Market
5. Market variables and outlook
5.1. SWOT analysis5.1.1 Strengths5.1.2 Weaknesses5.1.3 Opportunities5.1.4 Threats5.2. PESTEL analysis5.2.1 Political landscape5.2.2 Economic landscape5.2.3 Social landscape5.2.4 Technological landscape5.2.5 Environmental landscape5.2.6 Legal landscape5.3. PORTER’S five forces analysis5.3.1 Bargaining power of suppliers5.3.2 Bargaining power of Buyers5.3.3 Threat of Substitute5.3.4 Threat of new entrant5.3.5 Competitive rivalry5.4. Heat map analysis
6. Competitive Landscape
6.1 Global Underground Mining Equipment Market Manufacturing Base Distribution, Sales Area, Product Type6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Underground Mining Equipment Market
7. Global Underground Mining Equipment Market, By Product Type, 2019-2033 (USD Million)
7.1 Continuous Miners7.2 Mining Bolters7.3 Mining Drills7.4 Mining Excavators & Shovels7.5 Mining Loaders7.6 Mining Scalers7.7 Mining Shearer7.8 Mining Trucks
8. Global Underground Mining Equipment Market, By Mining Technique, 2019-2033 (USD Million)
8.1 Hard Rock Mining8.2 Soft Rock Mining
9. Global Underground Mining Equipment Market, By Mining Method, 2019-2033 (USD Million)
9.1 Longwall Extraction9.2 Room & Pillar Extraction
10. Global Underground Mining Equipment Market, By Application, 2019-2033 (USD Million)
10.1 Coal Mining10.2 Metal Mining10.3 Mineral Mining
11. Global Underground Mining Equipment Market, By End User, 2019-2033 (USD Million)
11.1 Mining Operators11.2 Rental Service Provider
12. Global Underground Mining Equipment Market, By Region, 2019-2033 (USD Million)
12.1 Global Underground Mining Equipment Market Size and Market Share by Region (2019-2026)12.2 Global Underground Mining Equipment Market Size and Market Share by Region (2027-2033)12.3 Asia-Pacific12.3.1 Australia12.3.2 China12.3.3 India12.3.4 Japan12.3.5 South Korea12.3.6 Rest of Asia-Pacific12.4 Europe12.4.1 France12.4.2 Germany12.4.3 Italy12.4.4 Spain12.4.5 United Kingdom12.4.6 Rest of Europe12.5 Middle East and Africa12.5.1 Kingdom of Saudi Arabia12.5.2 United Arab Emirates12.5.3 Rest of Middle East & Africa12.6 North America12.6.1 Canada12.6.2 Mexico12.6.3 United States12.7 Latin America12.7.1 Argentina12.7.2 Brazil12.7.3 Rest of Latin America
13. Company Profiles
13.1 BELAZ13.1.1 Company details13.1.2 Financial outlook13.1.3 Product summary13.1.4 Recent developments13.2 Caterpillar Inc.13.2.1 Company details13.2.2 Financial outlook13.2.3 Product summary13.2.4 Recent developments13.3 Epiroc AB13.3.1 Company details13.3.2 Financial outlook13.3.3 Product summary13.3.4 Recent developments13.4 Hitachi Construction Machinery Co., Ltd.13.4.1 Company details13.4.2 Financial outlook13.4.3 Product summary13.4.4 Recent developments13.5 Komatsu Ltd.13.5.1 Company details13.5.2 Financial outlook13.5.3 Product summary13.5.4 Recent developments13.6 Liebherr13.6.1 Company details13.6.2 Financial outlook13.6.3 Product summary13.6.4 Recent development13.7 Sandvik AB13.7.1 Company details13.7.2 Financial outlook13.7.3 Product summary13.7.4 Recent developments13.8 Sany Group Co., Ltd.13.8.1 Company details13.8.2 Financial outlook13.8.3 Product summary13.8.4 Recent developments13.9 Volvo13.9.1 Company details13.9.2 Financial outlook13.9.3 Product summary13.9.4 Recent developments13.10 XCMG Group13.10.1 Company details13.10.2 Financial outlook13.10.3 Product summary13.10.4 Recent developments
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Underground Mining Equipment Market is projected to reach USD 231.45 billion by 2033, growing at a CAGR of 4.84% during the forecast period.
Underground Mining Equipment Market grew in market size from 2022. The Market is expected to reach USD 231.45 billion by 2033, at a CAGR of 4.84% during the forecast period.
Underground Mining Equipment Market CAGR of 4.84% during the forecast period.
You can get the sample pages by clicking the link -Click Here
Underground Mining Equipment Market size is USD 231.45 billion from 2023 to 2033.
Underground Mining Equipment Market Segment is Covered By Product Type, By Mining Technique, By Mining Method, By Application, By End User
The North America region is anticipated to have the highest market share in Underground Mining Equipment Market.
The key players in the market include Companies Covered BELAZ, Caterpillar Inc., Epiroc AB, Hitachi Construction Machinery Co., Ltd., Komatsu Ltd., Liebherr, Sandvik AB, Sany Group Co., Ltd., Volvo, XCMG Group
Equipment used for performing underground activities in the mining sector, such as loaders, trucks, and diggers, is referred to as underground mining equipment.
PLACE AN ORDER
Year End Discount
Sample Report
Pre-Purchase Inquiry
NEED CUSTOMIZATION?
Request CustomizationCALL OR EMAIL US
100% Secure Payment
Related Reports
Have a glance of the Report
Our Global Clients
Our data-driven insights have influenced the strategy of 200+ reputed companies across the globe.
