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The global underground mining equipment market was valued at US$ 26.9 Billion in 2021.
We expect the global underground mining equipment market to exhibit a CAGR of 3.5% during 2022-
The increasing demand for various minerals, such as iron, gold, copper, coal, lead, aluminum, silver, etc.,
represents one of the key drivers for the global underground mining equipment market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown
regulations across several nations resulting in temporary halt in numerous mining activities, thereby
limiting the demand for underground mining equipment.
Based on the type of mining, the global underground mining equipment market has been bifurcated into
longwalls and room and pillars. Currently, longwalls mining exhibit a clear dominance in the market.
Based on the application, the global underground mining equipment market can be divided into coal
mining, metal mining, and mineral mining. Among these, coal mining accounts for the largest market
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin
America, and Middle East and Africa, where Asia Pacific currently dominates the global market.
Some of the major players in the global underground mining equipment market include Caterpillar Inc.,
Epiroc AB, Hitachi Construction Machinery Co., Ltd., Komatsu Ltd., Liebherr, Sandvik AB, Sany Group Co.,
Ltd., Volvo, BELAZ, and XCMG Group.
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