Market Research

Heavy Mining Equipment Market Attain Nearly USD 96.2 Billion by 2025 by EXPERT MARKET RESEARCH

According to a new report by Expert Market Research titled, ‘Global Heavy Mining Equipment Market Report and Forecast 2020-2025‘, the global heavy mining equipment market reached a value of almost USD 78.25 billion in 2019. The market is further expected to grow at a CAGR of 3.5% in the forecast period of 2020-2025 to attain nearly USD 96.2 billion by 2025.

The global heavy mining equipment market is driven by the growing output level and rising commodity prices. The heavy mining equipment is referred to as the heavy machines used for mining, construction, or earthmoving tasks. This equipment is called heavy owing to the heavy-duty work it is constructed to perform at the mining sites such as gold or iron ore mining. Equipment such as diggers, trucks, and loaders, among others, are few of the examples of underground mining equipment that ease the task of material extraction. The equipment is also helpful in the processing of the excavated products that are hauled to the ground by the use of skips or lifts.

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The market has the Asia Pacific as the leading region on the basis of size as well as growth prospects. The regions such as North America, Australia, and Asia are the high maturity markets for the heavy mining equipment market. Europe, South America, and Africa are the high potential regions driven by the increased demand for automation and autonomous equipment, enhancing the market growth of heavy mining equipment globally. Caterpillar Inc. (NYSE: CAT) and Komatsu Ltd (TYO: 6301) are some of the major key players in the global heavy mining market.

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Market Analysis by Equipment Type:

  1. Surface Mining Equipment
  2. Underground Equipment
  3. Auxiliary Equipment and Others

The heavy mining equipment market, on the basis of equipment type, is divided into surface mining equipment, underground equipment, and auxiliary equipment and others.

Market Analysis by Type:

  • Surface Mining Equipment
  1. Drills
  2. Mining Trucks
  3. Electric Mining Shovels
  4. Hydraulic Shovels
  5. Wheel Loaders
  6. Draglines
  7. Tractors/Dozers
  8. Motor Grader

The surface mining equipment market is divided on the basis of type into drills, mining trucks, electric mining shovels, hydraulic shovels, wheel loaders, draglines, tractors/dozers, and motor grader.

  • Underground Equipment Market
  1. Bolters
  2. UG Wheel Loaders/LHD
  3. Mining Trucks
  4. Development Drills
  5. Production Drills

The underground equipment market is segmented on the basis of types into bolters, UG wheel loaders/LHD, mining trucks, development drills, and production drills.

Market Analysis by Application:

  1. Metal Mining
  2. Non- Metal Mining

Underground equipment finds wide applications in metal mining and non-metal mining.

Market Analysis by Region:

  1. North America
  2. Europe
  3. Asia Pacific
  4. Latin America
  5. Middle East & Africa

Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  1. The global heavy mining equipment market is driven by the rising demand from the downstream industries such as mining, autonomous equipment, cement production, automation, etc.
  2. The mining industry is growing due to the newly located resources in regions such as Zambia and Congo, further aiding the market growth of heavy mining equipment.
  3. The rising demand for precious metals such as gold, silver, and platinum, and coal, among other metal or non-metal products, is resulting in the increased mining activities in India, China, and Indonesia, strengthening the market growth.
  4. Locating new mining areas is leading to a rise in demand of heavy mining equipment, further aiding the market growth.
  5. Coal mining is crucial to the market growth for heavy equipment, as it accounts for 40% of the share in the revenues of the mining industry, further enhancing the heavy mining equipment market.

Key Offerings of the Report:

  1. The Expert Market Research report gives an overview of the global heavy mining equipment market for the periods (2015-2019) and (2020-2025).
  2. The report also offers the historical (2015-2019) and forecast (2020-2025) markets for the equipment types, types, applications, and regional markets of heavy mining equipment.
  3. It gives an in-depth look at the price trends of the feedstock in the global heavy mining equipment market for the periods (2015-2019) and (2020-2025).
  4. It analyses the global trade data for the feedstock, looking into the value and volume of the significant importing as well as exporting countries.

Epiroc AB, Sandvik AB, Caterpillar Inc., Komatsu Ltd, Hitachi, Ltd., and Liebherr Group, among others, are the key players in the global heavy mining equipment market. The Expert Market Research report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.

Competitive Landscape & Supplier Analysis:

  • Epiroc AB (STO: EPI-A)
  • Sandvik AB (STO: SAND)
  • Caterpillar Inc. (NYSE: CAT)
  • Komatsu Ltd (TYO: 6301)
  • Hitachi, Ltd. (TYO: 6501)
  • Liebherr Group
  • Others

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Note 1: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

Note 2: For a snapshot of the primary and secondary data of the market (2015-2025), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.

About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

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