Mining equipment market summary:
Fortune Business Insights has released a comprehensive study titled “Mining Equipment Market Report by 2024,” providing valuable insights and a competitive edge for clients. This report offers an in-depth analysis of market segmentation and definitions, elucidating the components and drivers of the mining equipment market.
The report covers various aspects including market size, share, and industry analysis categorized by type (such as Excavators, Loaders, Dozers, Motor Graders, Dump Trucks, and others) and application (including Coal Mining, Gas & Oil Extraction, Metal Ore Mining, and Non-metal Mining). It also includes regional forecasts from 2021 to 2028.
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In 2020, the global mining equipment market was valued at USD 112.23 billion, with projections indicating growth from USD 114.61 billion in 2021 to USD 151.25 billion by 2028, reflecting a compound annual growth rate (CAGR) of 4.0% during the forecast period. The Asia Pacific region held a dominant market share of 30.90% in 2020.
The market’s competitive landscape is shaped by key industry players, their production capacities, utilization rates, production chains, pricing strategies, and global revenue. Leading companies include:
- Caterpillar (Deerfield, Illinois, U.S.)
- Komatsu Ltd. (Tokyo, Japan)
- CNH Industrial N.V (Amsterdam, Netherlands)
- AB Volvo (Gothenburg, Sweden)
- Terex Corporation (Connecticut, U.S.)
- Sandvik AB (Stockholm, Sweden)
- John Deere & Company (Illinois, U.S.)
- Liebherr-International AG (Bulle, Switzerland)
- Hitachi Ltd. (Tokyo, Japan)
- Doosan Corporation (Seoul, South Korea)
- Metso Corporation (Helsinki, Finland)
- Atlas Copco AB (Nacka Municipality, Sweden)
- Zoomlion Heavy Industry Science & Technology Development Co., Ltd (Changsha, China)
- Xuzhou Construction Machinery Group Co., Ltd. (Xuzhou, China)
- Wirtgen Group Holding GmbH (Rheinland-Pfalz, Germany)
Market Insights:
- Forecast Period: 2020-2028
- 2020 Market Value: USD 112.23 billion
- 2028 Forecasted Value: USD 151.25 billion
- CAGR: 4.0%
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Drivers:
- Growing demand for minerals and metals due to industrialization and urbanization
- Technological advancements enhancing efficiency and safety
- Expansion of mining activities in emerging markets
- Focus on operational efficiency and cost reduction
- Government support and investment in infrastructure
Restraints:
- High capital investment required
- Environmental and regulatory challenges
- Fluctuating commodity prices
- Maintenance and downtime costs
- Shortage of skilled labor
Regional Analysis includes:
- North America (U.S., Canada)
- Europe (U.K., Germany, France, Italy, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, Southeast Asia, Rest of Asia Pacific)
- Middle East & Africa (GCC, South Africa, Rest of Middle East & Africa)
- South America (Brazil, Mexico, Rest of South America)
Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers and Restraints
- Market Opportunities
- Key Insights
- Industry Developments
- Porter’s Five Forces Analysis
- SWOT Analysis
- Technological Developments
- Value Chain Analysis
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Recent Developments:
- Sandvik AB unveiled the Leopard DI650i with advanced DTH surface drilling capabilities.
- AB Volvo introduced a China-specific all-around compactor 14-TON DD145 with enhanced features.
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Key Questions Addressed in the Report:
- What is the 2024 market size of the mining equipment industry?
- Who are the top key players?
- What are the primary drivers of the mining equipment sector?
- What are the future projections for the mining equipment market?
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