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Underground Mining Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global underground mining equipment market reached a value of US$ 24.3 Billion in 2020. Looking forward, IMARC Group expects the market to reach a value of US$ 29.2 Billion by 2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor.

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.

Global Underground Mining Equipment Market Trends:

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. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global underground mining equipment market report, along with forecasts for growth at the global and regional level from 2021-2026. Our report has categorized the market based on type of mining and application.

Breakup by Type of Mining:

  • Longwalls
  • Room and Pillars
     

Based on the type of mining, the market has been segmented as longwalls, and room & pillars. Longwalls currently represent the biggest segment.

Breakup by Application:

  • Coal Mining
  • Metal Mining
  • Mineral Mining
     

On the basis of application, coal mining represents the largest segment. Other major segments include metal mining and mineral mining.

Regional Insights:

  • Asia Pacific
  • North America
  • Europe
  • Middle East and Africa
  • Latin America
     

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.

Competitive Landscape:

The competitive landscape of the market has also been examined with some of the key players being Caterpillar Inc., Epiroc AB, Hitachi Construction Machinery Co., Ltd., Komatsu Ltd., Liebherr, Sandvik AB, Sany Group Co., Ltd., Volvo, BELAZ and XCMG Group.

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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2020
Historical Period 2015-2020
Forecast Period 2021-2026
Units US$ Billion
Segment Coverage Type of Mining, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered Caterpillar Inc., Epiroc AB, Hitachi Construction Machinery Co., Ltd., Komatsu Ltd., Liebherr, Sandvik AB, Sany Group Co., Ltd., Volvo, BELAZ and XCMG Group.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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
    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 
    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    Caterpillar Inc. 
        10.3.2    Epiroc AB 
        10.3.3    Hitachi Construction Machinery Co., Ltd. 
        10.3.4    Komatsu Ltd.
        10.3.5    Liebherr
        10.3.6    Sandvik AB
        10.3.7    Sany Group Co., Ltd.
        10.3.8    Volvo
        10.3.9    BELAZ
        10.3.10    XCMG Group
        

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$), 2015-2020
Figure 3: Global: Underground Mining Equipment Market: Breakup by Type of Mining (in %), 2020
Figure 4: Global: Underground Mining Equipment Market: Breakup by Application (in %), 2020
Figure 5: Global: Underground Mining Equipment Market: Breakup by Region (in %), 2020
Figure 6: Global: Underground Mining Equipment Market Forecast: Sales Value (in Billion US$), 2021-2026
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$), 2015 & 2020
Figure 11: Global: Underground Mining Equipment (Longwalls) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 12: Global: Underground Mining Equipment (Room and Pillars) Market: Sales Value (in Million US$), 2015 & 2020
Figure 13: Global: Underground Mining Equipment (Room and Pillars) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 14: Global: Underground Mining Equipment (Coal Mining) Market: Sales Value (in Million US$), 2015 & 2020
Figure 15: Global: Underground Mining Equipment (Coal Mining) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 16: Global: Underground Mining Equipment (Metal Mining) Market: Sales Value (in Million US$), 2015 & 2020
Figure 17: Global: Underground Mining Equipment (Metal Mining) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 18: Global: Underground Mining Equipment (Mineral Mining) Market: Sales Value (in Million US$), 2015 & 2020
Figure 19: Global: Underground Mining Equipment (Mineral Mining) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 20: Asia Pacific: Underground Mining Equipment Market: Sales Value (in Million US$), 2015 & 2020
Figure 21: Asia Pacific: Underground Mining Equipment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 22: North America: Underground Mining Equipment Market: Sales Value (in Million US$), 2015 & 2020
Figure 23: North America: Underground Mining Equipment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 24: Europe: Underground Mining Equipment Market: Sales Value (in Million US$), 2015 & 2020
Figure 25: Europe: Underground Mining Equipment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 26: Middle East and Africa: Underground Mining Equipment Market: Sales Value (in Million US$), 2015 & 2020
Figure 27: Middle East and Africa: Underground Mining Equipment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 28: Latin America: Underground Mining Equipment Market: Sales Value (in Million US$), 2015 & 2020
Figure 29: Latin America: Underground Mining Equipment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 30: Underground Mining Equipment Manufacturing: Detailed Process Flow

List of Tables

Table 1: Global: Underground Mining Equipment Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Underground Mining Equipment Market Forecast: Breakup by Type of Mining (in Million US$), 2021-2026
Table 3: Global: Underground Mining Equipment Market Forecast: Breakup by Application (in Million US$), 2021-2026
Table 4: Global: Underground Mining Equipment Market Forecast: Breakup by Region (in Million US$), 2021-2026
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

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Key Question Answered in this Report

The global underground mining equipment market reached a value of US$ 24.3 Billion in 2020.

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 type of mining 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.

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