Global Underground Mining Machinery Market Growth 2023-2029

Global Underground Mining Machinery Market Growth 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 Machinery Industry Forecast” looks at past sales and reviews total world Underground Mining Machinery sales in 2022, providing a comprehensive analysis by region and market sector of projected Underground Mining Machinery sales for 2023 through 2029. With Underground Mining Machinery sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Underground Mining Machinery industry.

This Insight Report provides a comprehensive analysis of the global Underground Mining Machinery 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 Machinery portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Underground Mining Machinery market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Underground Mining Machinery 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 Machinery.

The global Underground Mining Machinery market size is projected to grow from US$ 22260 million in 2022 to US$ 28890 million in 2029; it is expected to grow at a CAGR of 28890 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 Machinery market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Electric Mining Machinery
Hydraulic Mining Machinery

Segmentation by application
Mining
Chemical
Other

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.
Komatsu
Bel Company
Joy Global
Sandvik Group
Volvo
Hitachi Construction Machine
Boart Longyear Group
Russell Ackoff Company
Singer Smith
Kenner Metal Company
Liebherr Group
Thyssenkrupp

Key Questions Addressed in this Report

What is the 10-year outlook for the global Underground Mining Machinery market?

What factors are driving Underground Mining Machinery market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Underground Mining Machinery market opportunities vary by end market size?

How does Underground Mining Machinery break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

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