This report segments the global underground mining equipment market by application (coal mining, metal mining, and mineral mining) and by types of mining extraction (longwall and room and pillar). The report also contains a geographic segmentation of the market, including the Americas, APAC, and EMEA. The top companies include Caterpillar, Joy Global, Komatsu, and Sandvik
Technavio has released updated information on the mining market, with the publication of its new market research report, global underground mining equipment market. The global underground mining equipment market is expected to grow at a CAGR of around 7% between 2015 and 2019. Rapid changes in energy efficiency regulations by various governments across the world have pushed mining companies to adopt energy-efficient underground mining equipment. The APAC is the highest revenue contributor to the global underground mining equipment market, followed by the Americas and EMEA. The growing mining activities in developing countries of APAC such as China, India, and Australia, are the major factors influencing the growth of the market. Also, the growing demand from coal industry will drive the underground mining equipment market.
“Several mining equipment manufacturers are focusing to launch energy-efficient mining equipment for transportation, excavation, washing, and screening processes, owing to the energy-saving policies. Atlas Copco has introduced an oil-injected rotary screw compressor which uses 50% less energy than an idling compressor. Many mining companies are also opting for mining equipment automation for improved safety and operational efficiency,” says Navin Rajendra, Lead Analyst, Heavy Industry, Technavio Research.
Several countries like China, the UAE, India, and Brazil are making huge investments in oil and gas production and coal mining activities to meet their energy demand, which is fuelling the growth of the underground mining equipment market. Moreover, increased infrastructure development activities drive the demand for coal in APAC, as it the primary raw material used in the manufacture of steel and cement.
The leading vendors in the global underground mining equipment market include Caterpillar, Joy Global, Komatsu, and Sandvik. Since coal, mineral, and metal mining activities consume a very high amount of energy, many mining equipment vendors are driven to manufacture energy-efficient mining equipment to save energy and time. Apart from that, energy-saving policies implemented by governments worldwide are also creating a demand for advanced energy-saving mining equipment for transportation, excavation, washing, and screening processes.
A more detailed analysis is available in the Technavio report, Global Underground Mining Equipment Market 2015-2019.
We can customize this reports by other regions and specific segments upon request.
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