Mining Equipment Services Market to 2025

Mining Equipment Market Outlook:

Raw materials are the fundamental requirement for the development in any economy. The essentiality of an adequate supply of mineral raw materials across the global economies is the foremost driver of mining equipment market. The global mining equipment market size is estimated to be around $100 billion - $105 billion, growing at a global CAGR of 5% through 2025. Such affluence of mining equipment can be attributed to heavy industrial operations and unprecedented demand of raw minerals surfacing by means of industrialization and the necessity for an operative and well-functioning economy.

Mining equipment market products comprises a range of tools from mining shovels to heavy machines such as trucks and dragline excavator. Profitability in this arcade is owing to the robust industrial demand of mineral fuels, iron, ferro-alloys, non-ferrous metals, precious metals, and industrial minerals. Apart from the demand by adjacent industries catering globalization, other factors such as favorable government policies, growth in mining-related end-use industries, and efficient automation technology are poising the mining equipment market towards exponential growth.

Mining Equipment Market Overview:

As per the International Organizing Committee for the World Mining Congresses, mineral fuels including coal accounted for 85.2% of total mining extraction in 2016. The demand for coal dust has surfaced over the economy owing to the call for unparalleled present scenario of energy consumption. Due to this phenomenon, surface mining equipment segment is leading the domain consisting of tools such as hybrid shovels, excavators and earth movers. Metal (iron and ferro alloys) mining is leading the type segment owing to the enormous demand from vigorously growing sectors like automobile (with sales of 100 million automobiles per year) and construction (with majority of modern projects exploiting on steel structures instead of traditional concrete). APAC region is the largest producer of minerals accounting for 35% of global mining equipment market size in 2018 with China leading as the producer of 28 different mineral raw materials globally.

Global Mining Equipment Market Growth Drivers:

• As per the World Mining Data by International Organizing Committee for the World Mining Congresses, the world mining production in 2016 was an astonishing 16.9 billion metric tons from a relatively low 11.3 billion metric ton in 2000. Such growths and developments in the preceding range of years very efficiently impersonates via acute analysis the more rapid progression and expansions designated to occur in the approaching years. Thus, such prompt rate of mining across the globe is impelled to stroke the market with abundant demand.
• The World Bank’s intervention in the mining sector has drawn lavish investment from the private sector and attracted foreign investments as well in developing and economy deficient countries mining arcade. Interventions by elite organizations such as International Development Association (IDA) and International Bank for Reconstruction and Development (IBRD) has evolved the mining sector of countries such as Tanzania (US$250 million per year in 2001-08 from less than US$10 million per year in 1990-99), Argentina (US$56 million in 1995 to US$2.4 billion in 2008) and Mongolia (US$2.3 billion of total mineral exports in 2010 from US$267 million in 2000). Since 1998 the World Bank has reinforced 41 mining sectors. As the mining equipment market is directly relative to the global mining scenario, such aids are assured to propel the machineries market demand effectively.

Global Mining Equipment Market Challenges:

The environmental effect of mining comprises of erosion in the environment, formation of sinkholes, loss of biodiversity, and contamination of soil, groundwater, and surface water by chemicals from mining processes. Along with these mining environment is a host to coal dust, noise and UV exposure which has adverse effects on miners such as musculoskeletal disorders and thermal stress. But it is to be noted that this billion dollar arcade and its relevant associations are constantly directing regulations and promoting innovations and technological advancements to curb down these hazards.

Global Mining Equipment Market Key Players Perspective:

Some of the key players mentioned in this report are Caterpillar, Komatsu, Sandvik, Liebherr, Atlas Copco, CNH Industrial, Hyundai Heavy Industries, Kobelco, Metso, Terex, Volvo, Doosan, Hitachi, Sany and BEML.

Hitachi Heavy Industries is a dominant player in terms of hydraulic mining excavators. Its global dominance can be recognized by the fact that more than one-third of all hydraulic mining excavators working across the world are made by Hitachi. Some of its prominent models are EX1200-6, EX1900-6 and EX2600-6 with maximum dig reach of 50 ft. 4 inch, 50 ft. and 54 ft. 6 inch respectively.

Global Mining Equipment Market Trends:

Bharat Earth Movers Limited, now known as BEML, an Indian public sector undertaking, with headquarters in Bengaluru, India signed a memorandum of understanding (MoU) with Heavy Engineering Corporation Limited (HEC), a public sector undertaking in Ranchi, Jharkhand India to meet the growing requirements of mining industry. Under this MoU, BEML & HEC will syndicate their rich experience and expertise in manufacturing and marketing of heavy engineering and mining machinery.

Mining Equipment Market Research Scope:

The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Mining Equipment Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of equipment in the mining equipment market, and their specific applications in different phases of industrial operations.

Mining Equipment Market Report: Industry Coverage

Types of Equipment in Mining Equipment Market:

By Products- Coals, Metals and Industrial Minerals

By Operation Type- Crushing, Grinding, Separating and Final Processing

The mining equipment market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:

• North America: The U.S., Canada, Mexico
• South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
• Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
• APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
• MiNAle East and Africa: Israel, South Africa, Saudi Arabia