The global mining equipment market is projected to reach $218 billion by 2030, at a CAGR of 2.5% during 2024-2030. The growth of mining equipment market is driven by growth in mining activities, increasing demand for metal and mineral commodities in growing economies, like India and China.
Some of the key questions answered in this exclusive report are:
Q.1 What are some of the
most promising, high-growth opportunities for the 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 segments will
grow at a faster pace and why?
Q.3 What are the
business risks and threats to the mining equipment market?
Q.4 What are some
changing demands of customers in the mining equipment market?
Q.5 What are the new
developments in the mining equipment market? Which companies are leading these
developments?
Q.6 What strategic
initiatives are being implemented by key players for business growth?
Q.7 What are some of the
competitive products and processes in this mining equipment area and how big of
a threat do they pose for loss of market share via product substitution?
Q.8 What M&A
activity has occurred in the last 5 years in this mining equipment market?
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.
Market Segmentation:
Based on application,
the mining equipment market is
segmented into coal, mineral, and metal. Lucintel forecasts that the metal
market accounted for the largest share of the market in 2020 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 is expected
to largest region due to increasing demand for coal for power generation and
rising metal consumption because of large-scale infrastructure development.
Key Players in the
mining equipment market are Hitachi, Doosan Corporation, AB Volvo, Deere and
Company, and Caterpillar Inc.
The report helps stakeholders understand the
pulse of the market and provides them with information on key drivers,
restraints, challenges, and opportunities for market growth. It would also help
to understand the competitors better and gain more insights to improve their
position in the business.
About
Lucintel
Lucintel, the premier global
management consulting and market research firm, creates winning strategies for
growth. It offers market assessments, competitive analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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