The global underground mining equipment market is anticipated to grow with a CAGR of 3.62% over the forecast period, i.e., 2023 - 2033. Factors such as increasing technological innovations, rising underground mining activities, and growing construction activities. Moreover, in prior years, increased product launches by key players aided industry development. Among the noteworthy mentions are the following: Caterpillar introduced the Load Haul Dump (LHD) in 2021, which features 100% battery-electric propulsion, creating almost no exhaust and generating less heat for underground mining operations. In the same year, another company, Epiroc, revealed the Boomer M20, which is intended to minimize unplanned stops and maximize uptime and performance even in the most difficult underground mining conditions. The market is estimated to garner a revenue of near to USD 34.97 billion by the end of 2033, up from a revenue of about USD 23.70 billion in the year 2022.
The global underground mining equipment market is segmented into numerous segments, which include segmentation by mining, application, and by region. By mining, the market is segmented into longwall extraction, and room & pillar extraction. By the end of 2033, the room & pillar extraction segment are anticipated to garner the largest revenue of around USD 14,455.1 Million, up from a revenue of close to USD 9,571 Million in the year 2022.
Based on region, the global underground mining equipment market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific, amongst the market in all the other regions, is anticipated to garner the largest revenue of USD 17.24 billion by the end of 2033. Moreover, in the year 2022, the market in the region generated a revenue of over USD 11.45 billion.
Some of the prominent industry leaders in the global underground mining equipment market that are included in our report are Komatsu Ltd, Mine Master, Boart Longyear, MacLean Engineering & Marketing Co., J.H. Fletcher & Co., Inc., Sandvik AB, Caterpillar Inc., EPIROC AB, Hager Equipment Company, Normet Group, and others.
The global underground mining equipment market is segmented into numerous segments, which include segmentation by mining, application, and by region. By mining, the market is segmented into longwall extraction, and room & pillar extraction. By the end of 2033, the room & pillar extraction segment are anticipated to garner the largest revenue of around USD 14,455.1 Million, up from a revenue of close to USD 9,571 Million in the year 2022.
Based on region, the global underground mining equipment market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific, amongst the market in all the other regions, is anticipated to garner the largest revenue of USD 17.24 billion by the end of 2033. Moreover, in the year 2022, the market in the region generated a revenue of over USD 11.45 billion.
Some of the prominent industry leaders in the global underground mining equipment market that are included in our report are Komatsu Ltd, Mine Master, Boart Longyear, MacLean Engineering & Marketing Co., J.H. Fletcher & Co., Inc., Sandvik AB, Caterpillar Inc., EPIROC AB, Hager Equipment Company, Normet Group, and others.
Table of Contents
1. Introduction
3. Research Methodology
5. Forces of the Market Constituents
14. Competitive Model: A Detailed Inside View for Investors
15. Global Underground Mining Equipment Market 2022-2033
16. North America Underground Mining Equipment Market 2022-2033
17. Europe Underground Mining Equipment Market 2022-2033
18. Asia Pacific Underground Mining Equipment Market 2022-2033
19. Latin America Underground Mining Equipment Market 2022-2033
20. Middle East & Africa Underground Mining Equipment Market 2022-2033
Companies Mentioned
- Komatsu Ltd
- Mine Master
- Boart Longyear
- MacLean Engineering & Marketing Co.
- J.H. Fletcher & Co. Inc.
- Sandvik AB
- Caterpillar Inc.
- EPIROC AB
- Hager Equipment Company
- Normet Group
