Underground Mining Equipment Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

  • Single User License $3500

Underground Mining Equipment Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : August, 2020 | Energy & Mining | PPT format

Report Digest


Global Underground Mining Equipment Market: Snapshot 

Rising urbanization and growing industrialization in most parts of the world is leading to an increasing demand for metals and minerals. This is motivating mining enterprises to invest in advanced equipment for improved efficiency and productivity. Moreover, stringent regulations for reducing fuel consumption, curbing greenhouse gas effects, and labor safety norms are compelling mining enterprises to replace conventional equipment with state-of-the-art energy efficient solutions. 

Underground mining equipment is used to excavate hard minerals, which mainly contain metals such as iron, copper, nickel, lead, tin, silver, gold, and zinc, along with ores of precious stones such as diamond. To facilitate the mining of minerals beneath the earth’s surface, miners construct underground chambers to carry out the work. The mining company employs best feasible methodologies for extracting the minerals factoring in operational and non-operational parameters and the economic viability of the operation. 

Underground mining employs different types of equipment for different stages. For instance, material handling activities such as loading and hauling of excavated ore employ slushers, front-end loaders, Load-Haul-Dump units, gathering-arm loaders, overhead loaders, and rubber-tired shuttle cars and trucks. This also employs transportation by rail, conveyor, and gravity flow.  Typically, in mineral mining operations, ores are loaded into underground equipment and conveyed to ore passes, where the ore is dumped. A chute is usually present at the lower level opening of the pass, where the ore is loaded and is carried either to the underground bins or is directly carried to the main haulage level. 

Some other equipment that is used in underground mining operations include boomheaders, continuous miners and shearers, and coal cutters.

Global Underground Mining Equipment Market: Overview 

Underground mining entails extracting metals, minerals, and ores such as iron ore, bauxite, titanium, and copper, and various non-metallic products from beneath the earth’s surface. The mining methods deployed for underground extraction are chosen after factoring in geographical conditions, spatial and geometric characteristics, the value of the ore, possible operational costs, and most important – the availability of raw materials. 

Based on application, the global underground mining equipment market can be segmented into mineral mining, coal mining, and metal mining. Among them, the coal mining sector has been grossing maximum revenue and in the near future too will continue raking in robust revenue on the back of the energy industry driving demand. By type, the global underground mining equipment market can be segmented into room and pillar and longwall. 

A report by TMR Research report presents a comprehensive evaluation of the market. It furnishes in-depth qualitative insights and leverages historical data to make projections about market size. To do so, it has used proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market. The report also lists leading players in the market and leverages popular analytical tools to gauge the current competitive dynamics. 

Global Underground Mining Equipment Market: Drivers and Trends 

The swift-pace of urbanization and rapid industrialization worldwide has majorly contributed to the global underground mining equipment market. This is because both require massive amounts of energy which has upped the need for coal needed for power generation. This has, in turn, boosted demand for underground mining equipment needed to extract coal. In fact, maximum demand for underground equipment is generated by the coal sector.  

Further, better living standards and higher spending capacity of people has led to increased sales of gold, aluminum, and copper, among other commodities. This has helped augment demand for underground mining equipment used for mining metals. A recent noticeable trend in the global underground equipment market is the immense thrust on developing advanced and more effective mining equipment for transportation, excavation, washing, and screening processes that helps to keep energy costs at bay. This has led to savvy companies rapidly supplanting outdated machinery with energy efficient ones for better profit margins. 

Global Underground Mining Equipment Market: Regional Outlook 

Based on geography, the key segments of the global underground mining equipment market are Asia Pacific, Europe, North America, and the Rest of the World. At present, Asia Pacific dominates the global market with a leading share because of the increasing mining activities in the emerging economies of China, Australia, and India. In fact, China’s insatiable demand for coal to a great extent shapes the competitive dynamics in the market.  

Besides Asia Pacific, North America is another key market. The rising number of mining sites, especially of coal has brought about high demand of specialized mining equipment in the region. Additionally, government regulations pertaining to mining safety, employment, environment, and equipment usage have also stoked demand for technologically improved underground mining equipment. Midwest in the U.S. is a major contributor to the region’s revenue. The Middle East and Africa are also considered important contributors. 

Companies Mentioned in Report 

To present a detailed assessment of the competition prevailing in the global underground mining equipment market, the report profiles important companies such as Sandvik AB, Komatsu Ltd, Volvo AB, Caterpillar Inc., Joy Global Inc., Hitachi Construction Machinery Co. Ltd., Boart Longyear Ltd., Kennametal, Inc., Metso Corporation, and Thyssenkrupp AG.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.