Middle East & Africa Mining Remanufacturing Components Market Forecast to 2030 - Regional Analysis - by Component (Engine, Axle, Transmission, Hydraulic Cylinder, and Others), Equipment (Excavator, Wheel Loader, Wheel Dozer, Crawler Dozer, Haul Truck, and

Middle East & Africa Mining Remanufacturing Components Market Forecast to 2030 - Regional Analysis - by Component (Engine, Axle, Transmission, Hydraulic Cylinder, and Others), Equipment (Excavator, Wheel Loader, Wheel Dozer, Crawler Dozer, Haul Truck, and Others), and Industry (Coal, Metal, and Others)

The Middle East & Africa mining remanufacturing components market was valued at US$ 322.03 million in 2022 and is expected to reach US$ 376.23 million by 2030; it is estimated to register a CAGR of 2.0% from 2022 to 2030.

Additive Manufacturing in Remanufacturing Industry Bolsters Middle East & Africa Mining Remanufacturing Components Market

As one of the major technologies of remanufacturing engineering, additive remanufacturing technology can repair the structure and function of high-value-added key metal parts of large and complex equipment, significantly reducing use and maintenance costs and saving labor and time costs. Additive remanufacturing is a subset of additive manufacturing technology that might restore the size accuracy of damaged parts, increase surface performance, and introduce new surface functions as needed. In the remanufacturing process, additive manufacturing technologies such as laser sintering and thermal spraying are utilized to restore worn parts or cores to their original proportions, and 3D printing is also employed in various ways by remanufacturers. Additive manufacturing is viewed as advantageous in remanufacturing. A few additive manufacturing technologies create standalone parts and can also be used to repair damage or add functionality to an existing item to convert a core to the newest specification. However, additive manufacturing or 3D printing is in the nascent stages in the coming years, and additive manufacturing can be integrated with the remanufacturing process. Many 3D printing and mining vehicle manufacturing companies are taking steps toward using this technology as a mainstream process. Caterpillar, one of the key mining vehicle manufacturers, is also focusing on additive manufacturing for component manufacturing.

Thus, the rising adoption of additive manufacturing in the remanufacturing industry is expected to fuel the market growth in the coming years.

Middle East & Africa Mining Remanufacturing Components Market Overview

There is an increasing demand for mining remanufacturing components in several countries in the Middle East & Africa (MEA) owing to the rise in mining projects. The mining industry in the Middle East & Africa is expected to become more efficient and effective in the coming years. The majority of the Middle East is yet to utilize its resources using modern techniques and equipment. However, Africa has an abundance of natural resources. Over 30% of the world's mineral deposits have been discovered in Africa, but the economy receives less than 5% of global resource exploration and extraction expenditure. Hence, the potential for the expansion of the mining sector in the MEA remains unexplored. Many developing countries in the region have recently enacted or are working on new mining legislation to promote investment in various fields. For example, the Gulf Cooperation Council members are planning on creating a uniform regulatory structure in various fields, including mining and mining equipment. According to the World Bank report, the MEA contains ~1,500 mineral facilities, including mines, factories, mills, and refineries for aluminum, cement, coal, copper, diamond, gold, iron, steel, nickel, platinum-group metals, salt, and silver.

Furthermore, petroleum and coal are available in abundance in the MEA. Governments of many nations and foreign exploration corporations have continued to search for these lucrative minerals across the region. The MEA is rich in mineral resources, including precious metals, base metals, and minerals used in various industries. The increasing demand for these resources is leading to a rise in mining activities, thereby driving the need for remanufacturing components for mining equipment.

Middle East & Africa Mining Remanufacturing Components Market Revenue and Forecast to 2030 (US$ Million)

Middle East & Africa Mining Remanufacturing Components Market Segmentation

The Middle East & Africa mining remanufacturing components market is categorized into component, equipment, industry, and country.

Based on component, the Middle East & Africa mining remanufacturing components market is segmented into engine, axle, transmission, hydraulic cylinder, and others. The engine segment held the largest Middle East & Africa mining remanufacturing components market share in 2022.

In terms of equipment, the Middle East & Africa mining remanufacturing components market is segmented into excavator, wheel loader, wheel dozer, crawler dozer, haul truck, and others. The crawler dozers segment held the largest Middle East & Africa mining remanufacturing components market share in 2022.

By industry, the Middle East & Africa mining remanufacturing components market is divided into coal, metal, and others. The metal segment held the largest Middle East & Africa mining remanufacturing components market share in 2022.

By country, the Middle East & Africa mining remanufacturing components market is segmented into the UAE, Saudi Arabia, South Africa, and the Rest of Middle East & Africa. The Rest of Middle East & Africa dominated the Middle East & Africa mining remanufacturing components market share in 2022.

Atlas Copco AB, J C Bamford Excavators Ltd, Caterpillar Inc, Epiroc AB, Swanson Industries Inc, Komatsu Ltd, Liebherr-International AG, AB Volvo, and Hitachi Construction Machinery Co Ltd are some of the leading companies operating in the Middle East & Africa mining remanufacturing components market.

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