Global Underground Mining Equipment Market Outlook:
The global underground mining equipment market was worth US$ 23.4 Billion in 2019. Underground mining is the process of extraction of minerals and ores that are buried deep inside the earth’s crust. Major types of underground mining techniques that are used include hard and soft mining. With hard underground mining the process of excavation of hard minerals such as lead, copper, nickel, iron, gold and silver is carried out. However, minerals such as potash, coal, oil shale and other minerals are extracted with the help of soft underground mining techniques. Various types of mining equipment are available in the market based on the type of mineral that needs to be extracted. Equipment used for underground mining include overhead loaders, draglines, shovels, haul trucks, front end loaders, gathering-arm loaders, conveyors, etc.
Catalyzed by stable economic growth across both developed and developing regions, increasing levels of disposable incomes and a rise in the middle-class population, there has been a strong growth in the demand of various minerals such as iron, gold, copper, coal, lead, aluminum, silver, etc. This has catalyzed a rising demand for underground mining equipment. Moreover, the substantial rise in the consumption of energy in the form of coal and nuclear fuels as a result of increasing urbanization and industrialization is also creating a positive impact on the demand of underground mining equipment. Additionally, underground mining causes minimum harm to the environment as compared to surface mining. With explosions being made underground, no toxic gases are released in the surroundings. Other factors that are currently driving this market include - lack of manual labor and its rising costs, increasing focus on improving the yield and productivity, enhanced use of high-quality equipment in mining, etc. Looking forward, IMARC Group expects the global underground mining equipment market to exhibit moderate growth during the next five years.
Market Summary:
- Based on the type of mining extraction, the market has been segmented as longwalls, and room & pillars. Longwalls currently represents the biggest segment.
- On the basis of application, coal mining represents the largest segment. Other major segments include metal mining and mineral mining.
- Region-wise, the market has been segmented into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. Amongst these, Asia Pacific is the biggest market.
- The competitive landscape of the market has also been examined with some of the key players being Asea Brown Boveri Ltd., Badger Meter Inc., Emerson Electric Co., Emerson Process Management, Faure Herman SA, General Electric, Honeywell International Inc., Index Corporation, Invensys Process Systems, Rockwell Automation Inc., Siemens AG, Teledyne Isco Inc., Yamatake Co. and Yokogawa Electric Co.
This report provides a deep insight into the global underground mining equipments market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the underground mining equipments industry in any manner.
Key Questions Answered in This Report:
The global underground mining equipment market was worth US$ 23.4 Billion in 2019.
Due to the outbreak of the coronavirus disease (COVID-19), social distancing measures have been implemented in numerous countries. As a result, mining companies of all sizes have radically slowed down or halted their operations. Also, the restrictions on transportation, shipping and manufacturing of mining equipment are negatively affecting the industry.
The rising underground mining activities due to an increase in the demand for energy represents one of the major factors stimulating the market growth. It is further supported by the replacement of older mining equipment to adhere to governmental regulations and improve overall productivity.
One of the significant market trends is the adoption of advanced technologies, such as robotics, smart sensors, and 3D printing, which has helped enhance the operational efficiency of the mining equipment. Additionally, market players are increasing their focus on reducing the cost and maintenance requirements of the products.
Longwalls are currently the most popular mining extraction type in the market, followed by room and pillars.
On the basis of the application, coal mining represents the largest segment, holding the majority of the market share. Other application segments include metal and mineral mining.
Region-wise, Asia Pacific exhibits a clear dominance in the market. Other major regions are North America, Europe, Middle East and Africa, and Latin America.
Leading players in the industry are Asea Brown Boveri (ABB) Ltd., Badger Meter, Inc., Emerson Electric Co., Faure Herman SA, General Electric Company, Honeywell International Inc., Index Corporation, Schneider Electric (Invensys), Rockwell Automation, Inc., Siemens AG, Teledyne Isco Inc., Azbil India Private Limited (Yamatake Co.) and Yokogawa Electric Corporation.
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Underground Mining Equipment Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Type of Mining Extraction
5.5 Market Breakup by Application
5.6 Market Breakup by Region
5.7 Market Forecast
5.8 SWOT Analysis
5.8.1 Overview
5.8.2 Strengths
5.8.3 Weaknesses
5.8.4 Opportunities
5.8.5 Threats
5.9 Value Chain Analysis
5.10 Porters Five Forces Analysis
5.10.1 Overview
5.10.2 Bargaining Power of Buyers
5.10.3 Bargaining Power of Suppliers
5.10.4 Degree of Competition
5.10.5 Threat of New Entrants
5.10.6 Threat of Substitutes
6 Market Breakup by Type of Mining Extraction
6.1 Longwalls
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Room and Pillars
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Application
7.1 Coal Mining
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Metal Mining
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Mineral Mining
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Region
8.1 Asia Pacific
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 North America
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Europe
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Middle East and Africa
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Latin America
8.5.1 Market Trends
8.5.2 Market Forecast
9 Underground Mining Equipment Manufacturing Process
9.1 Product Overview
9.2 Raw Material Requirements
9.3 Manufacturing Process
9.4 Key Success and Risk Factors
10 Competitive Landscape
10.1 Market Structure
10.2 Key Players
10.3 Profiles of Key Players
10.3.1 Asea Brown Boveri Ltd.
10.3.2 Badger Meter Inc.
10.3.3 Emerson Electric Co.
10.3.4 Emerson Process Management
10.3.5 Faure Herman SA
10.3.6 General Electric
10.3.7 Honeywell International Inc.
10.3.8 Index Corporation
10.3.9 Invensys Process Systems
10.3.10 Rockwell Automation Inc.
10.3.11 Siemens AG
10.3.12 Teledyne Isco Inc.
10.3.13 Yamatake Co.
10.3.14 Yokogawa Electric Co.
List of Figures
Figure 1: Global: Underground Mining Equipment Market: Major Drivers and Challenges
Figure 2: Global: Underground Mining Equipment Market: Sales Value (in Billion US$), 2014-2019
Figure 3: Global: Underground Mining Equipment Market: Breakup by Types of Mining Extraction (in %), 2019
Figure 4: Global: Underground Mining Equipment Market: Breakup by Application (in %), 2019
Figure 5: Global: Underground Mining Equipment Market: Breakup by Region (in %), 2019
Figure 6: Global: Underground Mining Equipment Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 7: Global: Underground Mining Equipment Industry: SWOT Analysis
Figure 8: Global: Underground Mining Equipment Industry: Value Chain Analysis
Figure 9: Global: Underground Mining Equipment Industry: Porter’s Five Forces Analysis
Figure 10: Global: Underground Mining Equipment (Longwalls) Market: Sales Value (in Million US$), 2014 & 2019
Figure 11: Global: Underground Mining Equipment (Longwalls) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 12: Global: Underground Mining Equipment (Room and Pillars) Market: Sales Value (in Million US$), 2014 & 2019
Figure 13: Global: Underground Mining Equipment (Room and Pillars) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 14: Global: Underground Mining Equipment (Coal Mining) Market: Sales Value (in Million US$), 2014 & 2019
Figure 15: Global: Underground Mining Equipment (Coal Mining) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 16: Global: Underground Mining Equipment (Metal Mining) Market: Sales Value (in Million US$), 2014 & 2019
Figure 17: Global: Underground Mining Equipment (Metal Mining) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 18: Global: Underground Mining Equipment (Mineral Mining) Market: Sales Value (in Million US$), 2014 & 2019
Figure 19: Global: Underground Mining Equipment (Mineral Mining) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 20: Asia Pacific: Underground Mining Equipment Market: Sales Value (in Million US$), 2014 & 2019
Figure 21: Asia Pacific: Underground Mining Equipment Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 22: North America: Underground Mining Equipment Market: Sales Value (in Million US$), 2014 & 2019
Figure 23: North America: Underground Mining Equipment Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 24: Europe: Underground Mining Equipment Market: Sales Value (in Million US$), 2014 & 2019
Figure 25: Europe: Underground Mining Equipment Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 26: Middle East and Africa: Underground Mining Equipment Market: Sales Value (in Million US$), 2014 & 2019
Figure 27: Middle East and Africa: Underground Mining Equipment Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 28: Latin America: Underground Mining Equipment Market: Sales Value (in Million US$), 2014 & 2019
Figure 29: Latin America: Underground Mining Equipment Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 30: Underground Mining Equipment Manufacturing: Detailed Process Flow
List of Tables
Table 1: Global: Underground Mining Equipment Market: Key Industry Highlights, 2019 and 2025
Table 2: Global: Underground Mining Equipment Market Forecast: Breakup by Types of Mining Extraction (in Million US$), 2020-2025
Table 3: Global: Underground Mining Equipment Market Forecast: Breakup by Application (in Million US$), 2020-2025
Table 4: Global: Underground Mining Equipment Market Forecast: Breakup by Region (in Million US$), 2020-2025
Table 5: Underground Mining Equipment: Raw Material Requirements
Table 6: Global: Underground Mining Equipment Market: Competitive Structure
Table 7: Global: Underground Mining Equipment Market: Key Players