Europe Mining Equipment Market Outlook, 2027

Europe Mining Equipment Market Outlook, 2027

The European mining industry is among the continent's most modern and innovative industrial sectors. Discovering new deposits, mining, and ore dressing, all require major emphasis on research and development procedures. In Europe, mining exploration, extraction, and beneficiation are supported by various high-level enhanced technologies. The European industry also promotes improvements in environmental, health, and safety protection. The mining industry in Europe is fundamental to the overall economic well-being. Over the past decade, demand for aggregates, industrial materials, and metals has grown rapidly. Based on these growing demands, Europe is almost self-sufficient in production units. However, Europe is also a net importer of metals and metal ores. In addition to that, Europe is rich in natural resources. Mines are active in countries such as Austria, Finland, Greece, Ireland, Poland, Portugal, Sweden, Germany, the United Kingdom, and Russia, among others. In addition to that, Finland, Sweden, Bulgaria, and Spain all have gold mines. Finland and Sweden are the top two European gold producers. On the other hand, Tara in Ireland is Europe’s largest zinc mine, which is also one of the largest in global comparison. The presence of major market players in Europe, as well as the emphasis on coal production, is expected to drive market growth in the European mining equipment market.

According to the research report, ""Europe Mining Equipment Market Outlook, 2027"" published by Bonafide Research, the mining equipment market is projected to witness prominent market growth during the forecast period, registering a CAGR of 4.51%. Mining, mining technology, and mining equipment continue to play an important role in the European region. The sector generates tax revenue and employment. Even in the future, there will be no product that does not require mined raw materials. In this regard, manufacturers are increasingly relying on eco-friendly and energy-efficient machines and plants. The European mining equipment market is segmented into six prominent countries, including Germany, the United Kingdom, France, Italy, Spain, and Russia. Among these countries, Russia is projected to dominate the European market with more than 65% of the market share.

The mineral industry of Russia is one of the world’s leading industries. It also accounts for a large portion of the production sector of mineral products, including metals and mineral fuels. Russia has 22 coal basins with 114 coal deposits scattered across the country. Currently, Russia has more than 250 operating coal mines, including 104 underground mines and 137 open-pit mines. In addition to that, Russia has the world’s second-largest coal and metal reserves, including gold, silver, platinum, nickel, and diamonds. As a business platform, Russia holds the internationally recognized trade-show ""MiningWorld Russia"" that serves the mining and mineral extraction industry. This exhibition connects equipment and technology manufacturers with buyers to enhance the performance of the overall industry.

According to the report, the European mining equipment market is segregated into four categories: crushing, pulverizing & screening, mineral processing, surface mining, and underground mining. Among these categories, surface mining is anticipated to lead the European market during the forecast period with more than 38% of the market share, followed by underground mining. The largest portion of the mining industry in the European region has been covered by surface miles. Some of the largest surface mining projects across the region include Belchatow mine, Hambach mine, Aitik mine, Garzweiler mine, Maritsa east mine, Ptolemais south field mine, Welzow-sud mine, Inden mine, etc. The mineral processing category, on the other hand, is said to be the fastest growing segment in the European market. Based on the power output of the machine, the machine with less than 500 HP output is expected to acquire the largest market share in the European market. However, the 500–2000 HP output segment is rising at the highest growth rate during the forecast period. Further, the European market is segmented into three applications, including mineral mining, metal mining, and coal mining. Among these types, mineral mining applications are projected to dominate the market during the forecast period with more than 35% market share. Due to innovations and advancements, Europe is becoming a hub for the new mining industry opportunities. By utilizing effective equipment, Europe mines more than 42 diverse metals and minerals, including ornamental stones, sand, and gravel. The situation varies with geography, but resources are plentiful in Europe, which will boost the demand for enhanced mining equipment across the region.

Impact of Covid-19 on Europe Mining Equipment Market:
The outbreak of COVID-19 had an unpredictable and immediate impact on the global economy. This impact goes across all industries, including mining. The European region was also heavily impacted due to the pandemic. Significant price drops were observed across larger portions of various sectors in Europe. Due to the lockdown situations and social distancing norms, many production houses remained shut. However, the market is expected to witness prominent growth during the forecast period due to the increasing use of electric machinery in underground mining and rising demand for metals and minerals in many industries present in Europe.

Major Companies present in the market:
Sandvik AB, Caterpillar Inc., Komastu Limited, Volvo Group, Liebherr Group, Hitachi Construction Machinery Co., Limited, EpirocAb, Sany Heavy Equipment International Holdings Company Limited, Doosan Infracore Co. Limited, Guangxi Liugong Machinery Co., Ltd., Kobelco Construction Machinery Co., Ltd., Sumitomo Heavy Industries, Xuzhou Construction Machinery Group (XCMG), Bharat Earth Movers Limited, J C Bamford Excavators Limited, Wirtgen Group, Mine Master Ltd, FIORI GROUP S.p.A., JSC, WackerNeuson Group, Equipment North Inc., RTM Equipment, Astec Industries, Inc., BELL Equipment, AARD Mining Equipment

Considered in this report
Geography: Europe
Historic Year: 2016
Base year: 2021
Estimated year: 2022
Forecast year: 2027

Aspects covered in this report
Europe Mining Equipment market with its value and forecast along with its segments
Country wise market analysis
Various drivers and challenges
On-going trends and developments
Top profiled companies
Strategic recommendation

Countries covered in the report
Germany
United Kingdom
France
Italy
Spain
Russia

By Category of Mining Equipment in the report:
Crushing, pulverizing, screening machinery
Mineral processing machinery
Surface mining machinery
Underground mining machinery

By Application in the report:
Mineral Mining
Metal Mining
Coal Mining

By Propulsion in the report:
Diesel
CNG/LNG/RNG

By Power Output in the report:
Below 500 HP
500 to 2,000 HP
Above 2,000 HP

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning. Post this we have started doing primary calls to industry people by equally segmenting in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry manufactures, consultants, Key vendors related to mining equipment industry. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.