Global Mining Equipment Market Is Anticipated To Grow At A CAGR Of More Than 4.9% In Value Terms by 2022-2027.
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According to the report titled “Global Mining Equipment Market Outlook, 2027”, published by Actual Market Research, the mining equipment market is expected to reach more than USD 40 Billion by the year 2027. It is expected to expand at a compound annual growth rate (CAGR) of more than 4.9% from 2022 to 2027. Mining is one of the most indispensable integrants of modern society due to the use of mined minerals in almost every consumer product. Minerals, ore, metals, or other goods located deep underground require various techniques for their extraction. Mining may involve rigid or soft rock, requiring specific tools to extract the materials. For instance, the mechanism used to dig soft materials might not provide enough power for cutting through hard rock. According to the report, based on application, the market is segmented into mineral, metal, and coal mining. The mineral mining segment is leading the market with more than 40% of the value market share, followed by the metal mining segment, the fastest growing segment among the other two. Based on propulsion type, the market is segmented into diesel and CNG or LNG segments. The diesel segment is leading the market with more than 80% of the value market share. Based on power output, the market is segmented into below 500 HP, 500 to 2000 HP and above 2000 HP. The below 500 HP segment is leading the market with more than 40% of value market share.
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The market is highly competitive, with a considerable number of regional and global players. At the same time, this report includes company profiling for the companies like- Major Companies present in the market: Sandvik AB, Caterpillar Inc., Komastu Limited, Volvo Group, Liebherr Group, Hitachi Construction Machinery Co., Limited, EpirocAb, Sany Heavy Equipment International Holdings Company Limited, Doosan Infracore Co. Limited, Guangxi Liugong Machinery Co., Ltd., Kobelco Construction Machinery Co., Ltd., Sumitomo Heavy Industries, Xuzhou Construction Machinery Group (XCMG), Bharat Earth Movers Limited, J C Bamford Excavators Limited, Wirtgen Group, Mine Master Ltd, FIORI GROUP S.p.A., JSC, WackerNeuson Group, Equipment North Inc., RTM Equipment, Astec Industries, Inc., BELL Equipment, AARD Mining Equipment
Aspects covered in this report
• Global Mining Equipment market with its value and forecast along with its segments
• Region & country wise market analysis
• Various drivers and challenges
• On-going trends and d
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1. What is the market size and forecast of the Global Mining Equipment Market?
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2. What are the inhibiting factors and impact of COVID-19 shaping the Global Mining Equipment Market during the forecast period?
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3. Which region outstands in theNorth America Global Mining Equipment Market?
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4. Which are the segments to invest in over the forecast period in the Global Mining Equipment Market?
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5. What is the competitive strategic window for opportunities in the Global Mining Equipment Market?
Through an intensive primary study, we have identified the trends and development that can be expected in the forecasted period, along with the change in the preference of the consumers.
6. What are the technology trends and regulatory frameworks in the Global Mining Equipment Market?
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7. What are the major companies in the Global Mining Equipment Market?
Our market research report covers the detailed profiling of the leading companies in the industry, and also a brief discussion about the smaller emerging brands.
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Regions & Countries covered in the report
• North America – United States, Canada, Mexico
• Europe- Germany, United Kingdom, France, Italy, Spain, Russia
• Asia-Pacific – China, Japan, South Korea, India, Australia
• Latin America- Brazil, Argentina, Columbia
• Middle-East & Africa- UAE, Saudi Arabia, South Africa
Impact of Covid-19 on Mining Equipment Market: The COVID-19 pandemic has affected the commodity markets in a variety of ways. Firm operations have been pretentious through isolated outbreaks and government-dictated shutdowns, and the demand for many commodities remains low with a lower near-term stipulation on the horizon. The growth of the mining equipment market was also affected by the pandemic. The stipulation for metallurgical and thermal coal has diminished, while the demand for gold and iron ore has increased. However, the market for mining equipment is expected to witness significant growth during the forecast period, as the increasing use of electric machinery in underground mining and increasing stipulation for metals and commodities occupy a significant share in the mining equipment market.
By Category of Mining Equipment in the report:
• Crushing, pulverizing, screening machinery
• Mineral processing machinery
• Surface mining machinery
• Underground mining machinery
By Application in the report:
• Mineral Mining
• Metal Mining
• Coal Mining
Table of Contents Covered In This Global Mining Equipment Market Report:
Table of Contents
1. Executive Summary
2. Report Methodology
3. Market Structure
3.1. Market Considerate
3.2. Market Definition
4. Economic /Demographic Snapshot
5. Global Mining Equipment Market Outlook
5.1. Market Size by Value
5.2. Market Share
5.2.1. By Region
5.2.2. By Country
5.2.3. By Company
5.2.4. By Application
5.2.5. By Category
5.2.6. By Power Output
5.2.7. By Propulsion
To Be Continue…
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