Global Underground Mining Equipment Market Growth (Status and Outlook) 2023-2029

Global Underground Mining Equipment Market Growth (Status and Outlook) 2023-2029

Underground Mining Equipment is the mining equipment used in the underground. Underground mining is a technique used to access ores and valuable minerals in the ground by digging into the ground to extract them.

LPI (LP Information)' newest research report, the “Underground Mining Equipment Industry Forecast” looks at past sales and reviews total world Underground Mining Equipment sales in 2022, providing a comprehensive analysis by region and market sector of projected Underground Mining Equipment sales for 2023 through 2029. With Underground Mining Equipment sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Underground Mining Equipment industry.

This Insight Report provides a comprehensive analysis of the global Underground Mining Equipment landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Underground Mining Equipment portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Underground Mining Equipment market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Underground Mining Equipment and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Underground Mining Equipment.

The global Underground Mining Equipment market size is projected to grow from US$ 22260 million in 2022 to US$ 35860 million in 2029; it is expected to grow at a CAGR of 7.1% from 2023 to 2029.

Global Underground Mining Equipment key players include Caterpillar, Komatsu (Joy Global), Volvo, Hitachi Construction Machinery, Sandvik, etc. Global top five players hold a share about 50%.

North America is the largest market, with a share about 30%, followed by Europe, having a share about 25 percent.

In terms of product, Longwall is the largest segment, with a share about 75%. And in terms of application, the largest application is Coal Mining, followed by Metal Mining, Mineral Mining.

This report presents a comprehensive overview, market shares, and growth opportunities of Underground Mining Equipment market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type

Longwall

Room and Pillar

Segmentation by application

Coal Mining

Metal Mining

Mineral Mining

This report also splits the market by region:

Americas

United States

Canada

Mexico

Brazil

APAC

China

Japan

Korea

Southeast Asia

India

Australia

Europe

Germany

France

UK

Italy

Russia

Middle East & Africa

Egypt

South Africa

Israel

Turkey

GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.

Caterpillar

Komatsu (Joy Global)

Volvo

Hitachi Construction Machinery

Sandvik

Atlas Copco

Metso

ThyssenKrupp

Liebherr-International

ZMJ

FLSmidth

Doosan Infracore

China Coal Group

Please note: The report will take approximately 2 business days to prepare and deliver.