Mining Equipment: Trends, Opportunities and Competitive Analysis [2024-2030]

Mining Equipment: Trends, Opportunities and Competitive Analysis [2024-2030]

Mining Equipment Market Trends and Forecast

The future of the global mining equipment market looks promising with opportunities in the coal, mineral and metal mining industries. The global mining equipment market is expected to reach an estimated $224.2 billion by 2030 with a CAGR of 2.5% from 2024 to 2030. The major drivers for this market are growth in mining activities, increasing demand for metal and mineral commodities in growing economies, like India and China.

Emerging Trends in Mining Equipment Market

Emerging trends, which have a direct impact on the dynamics of the industry, are underground automation system for effective mining, automatic power crusher for crushing and compacting operation, and multi-functional excavator for construction and demining function.

A total of 129 figures / charts and 102 tables are provided in this 166-page report to help in your business decisions. Sample figures with some insights are shown below.

Mining Equipment Market by Segment

In this market, underground mining machinery are the largest product type market, whereas metal is the largest application segment. Growth in various segments of the mining equipment market is given below:

The study includes trends and forecast for the global mining equipment market by application, product type, function type, and region, as follows:

Mining Equipment Market by Product Type [$B shipment analysis for 2018 – 2030]:

• Underground Mining Machinery
• Surface Mining Machinery
• Drills and Breakers
• Crushing, Pulverizing, and Screening Equipment
• Mineral Processing Machinery
• Parts and Attachments

Mining Equipment Market by Application [$B shipment analysis for 2018 – 2030]:

• Coal
• Mineral
• Metal

Mining Equipment Market by Function Type [$B shipment analysis for 2018 - 2030]:

• Transportation
• Processing
• Excavation

Mining Equipment Market by Region [$B shipment analysis for 2018 – 2030]:

• North America
• United States
• Canada
• Mexico
• Europe
• Germany
• Spain
• United Kingdom
• Poland
• Ukraine
• APAC
• China
• Indonesia
• India
• ROW
• Brazil
• South Africa

List of Mining Equipment Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, mining equipment companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the mining equipment companies profiled in this report include-

• Hitachi
• Doosan Corporation
• AB Volvo
• Deere and Company
• Caterpillar Inc.

Mining Equipment Market Insights

• Within this market, metal mining will remain the largest application segment, and it is also expected to witness the highest growth over the forecast period due to increasing demand of metals in construction and automotive industries.
• Asia Pacific will remain the largest region due to increasing demand for coal for power generation and rising metal consumption because of large-scale infrastructure development.

Features of Global Mining Equipment Market

• Market size estimates: Mining equipment market size estimation in terms of value ($B) shipment.
• Trend and forecast analysis: Market trends (2018-2023) and forecast (2024-2030) by segment and region.
• Segment analysis: Mining equipment market size by product type, application, and function type
• Regional analysis: Mining equipment market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth opportunities: Analysis on growth opportunities in different product types, applications and regions for construction.
• Strategic analysis: This includes M&A, new product development, and competitive landscape for construction industry.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the mining equipment market size?

Answer:The global mining equipment market is expected to reach an estimated $224.2 billion by 2030.

Q2. What is the growth forecast for mining equipment market?

Answer:The mining equipment market is expected to grow at a CAGR of 2.5% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of themining equipment market?

Answer: The major drivers for this market are growth in mining activities and increasing demand for metal & mineral commodities in emerging economies, such as China and India.

Q4. What are the major applications or end use industries formining equipment?

Answer:Coal, minerals, and metals are the major applications for mining equipment.

Q5. What are the emerging trends inmining equipment market?

Answer:Emerging trends, which have a direct impact on the dynamics of the industry, include underground automation system for effective mining, automatic power crusher for crushing and compacting operation, and multi-functional excavator for construction and demining function.

Q6. Who are the keymining equipment companies?

Answer:Some of the key mining equipment companies are as follows:

• Hitachi
• Doosan Corporation
• AB Volvo
• Deere and Company
• Caterpillar Inc.

Q7.Which will be the largest mining equipment product segment in the future?

Answer: Lucintel forecasts that underground mining machinery will remain the largest product type segment during the forecast period due to increased investments for the development of underground coal mines.

Q8: Inmining equipment market, which region is expected to be the largest in next 5 years?

Answer:Asia Pacific is expected to be the largest region over the next 5 years.

Q9. Do we receive customization in this report?

Answer:Yes, Lucintel provides 10% customization without any additional cost.

This report addresses the following key questions:

Q. 1. What are some of the most promising, high growth opportunities for the global mining equipment market by product type (underground mining machinery, surface mining machinery, drills and breakers, crushing, pulverizing, screening equipment, mineral processing machinery, and parts and attachments), application (coal, mineral, and metal), function type (transportation, processing, and excavation), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q. 2. Which products segments will grow at a faster pace and why?

Q. 3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market and which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are being initiated by key companies for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?

Q. 11. What M&A activity has occurred in the last 5 years?

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