Global Mining Equipment Market 2018-2022

The global mining equipment market size will grow by USD 40.68 billion during 2018-2022. This report offers an analysis of the market based on product (surface mining equipment, underground mining equipment, crushing, pulverizing, and screening equipment, mining drills and breakers, mineral processing machinery and others) and application (coal mining, metal mining and mineral mining). The mining equipment market research report further presents an in-depth insight on the growth prospects of the market across geographic regions such as the Americas, APAC and EMEA. The report analyzes the market’s competitive landscape and offers information on several companies including Atlas Copco, Caterpillar, Komatsu, Metso and Sandvik.

Below are some of the key findings from the mining equipment market analysis:

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Global mining equipment industry overview

Mining companies move mined ores from mines to processing units with the help of mining equipment such as draglines, excavators and transport trucks. These machines must operate with limited downtime to ensure seamless operations and reduce the operating expenditure. This compels them to adopt advanced technologies such as artificial intelligence (AI) and automation to improve their operational efficiency. For instance, Rio Tinto uses driverless trucks developed by Komatsu, which uses accurate global positioning systems (GPS) and radar and laser sensors to maneuver obstacles. Rio Tinto estimated that over 15% cost savings can be realized by using driverless trucks rather than human-operated trucks for mining operations. The growing dependence on the automation and AI in mining is one of the critical reasons that will drive the mining equipment market’s growth.

The need for metals and minerals is increasing with the growing adoption of clean energy products such as EVs because the batteries used in these vehicles are produced from metal and minerals. The growing need for metals and minerals such as iron, lead, nickel, cobalt, silver, palladium, aluminum, gold and manganese results in an increased demand for mining activity. This will drive the mining equipment market to grow at a CAGR of over 7% during the forecast period. To manufacture batteries for clean energy products, many mining companies are increasing their investments to mine metal and minerals.

Top mining equipment companies covered in this market research report

The mining equipment market is highly concentrated. Some established companies are offering products such as underground mining equipment and rock reinforcement equipment. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this mining equipment industry analysis report will allow the clients to identify new growth opportunities and design innovative strategies to improve their share in the market.

The report offers a complete analysis of various companies including:

• Atlas Copco
• Caterpillar
• Komatsu
• Metso
• Sandvik

Mining equipment market segmentation based on product

• Surface mining equipment
• Underground mining equipment
• Crushing, pulverizing, and screening equipment
• Mining drills and breakers
• Mineral processing machinery
• Others

The surface mining equipment market segment will account for the highest share of the mining equipment market because the adoption of surface mining equipment minimizes costs. It also improves the productivity of mining activity and reduces wastage.

Mining equipment market segmentation based on application

• Coal mining
• Metal mining
• Mineral mining

The coal mining segment will account for the highest share of the mining equipment market due to the increasing use of non-traditional sources of mining. Mining companies are exploring new sources of mining such as volcanoes.

Key highlights of the global mining equipment market for the forecast years 2018-2022:

• CAGR of the market during the forecast period 2018-2022
• Detailed information on factors that will accelerate the growth of the mining equipment market during the next five years
• Precise estimation of the global mining equipment market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the mining equipment industry across various geographies such as the Americas, APAC and EMEA
• A thorough analysis of the market’s competitive landscape and detailed information on several vendors
• Comprehensive details on factors that will challenge the growth of multivariable transmitters companies

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