Dublin, Sept. 23, 2021 (GLOBE NEWSWIRE) -- The "Global Mining Equipment Market, By Category (Crushing, Pulverising, Screening, Mineral Processing, Surface & Underground), By Application, By Propulsion, By Power Output, By Vehicle Type, By Region, Competition, Forecast & Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Mining Equipment Market is expected to grow from 32 thousand units in 2020 to 46 thousand units by 2026, growing at a CAGR of 6.89% through 2026 on account of surging demand for coal and metals, globally. Coal is the most plentiful source of power generation and approximately 36% of global electricity depends upon the coal. The demand for metals like iron, aluminium and copper is always high in the global market because of its use in transportation of electricity in the electrical power grid. Due to COVID-19, many mines around the world stopped their production resulting in reduced demand for mining equipment. Until 2018, global mining equipment sales grew at a brisk rate but in 2019, the sales plummeted because of decline in private equity.
The Global Mining Equipment Market can be segmented based on category, application, propulsion, power output, vehicle type and region. On the basis of category, the market can be classified into crushing, pulverizing, screening, mineral processing and surface & underground. In the category type, surface & underground accounted for the majority of share because coal and minerals are extracted with the help of these type of mining. In application type, the demand for mining equipment's in coal mining is more than half of total equipment's because of heavy dependency of world on coal for electricity generation. In vehicle type, electric shovels, followed by hydraulic excavators and mining dozers, accounted for the share of above 10% in 2020 because of its use in coal mines for loading and extraction processes.
Regionally, Asia-Pacific was the largest region in terms of mining equipment's sales in 2020 and it is expected to continue its position in the future as well. The mining activities in China is the major factor for Asia-Pacific dominance in the Global Mining Equipment Market. China itself accounted for the share of above 14% in world mining equipment's consumption and over 37% in Asia-Pacific. North America has the share of above 20% in mining equipment's sales in 2020 and it is expected that in terms of region wise sales it will continue to be on second position after Asia-Pacific.
Major players operating in the Global Mining Equipment Market are Caterpillar, Komatsu Ltd., Hitachi Ltd., Deere & Company, Liebherr, XCMG Group, Doosan Corporation, Sany Group, AB Volvo, and JC Bamford Excavators Ltd. Key players are developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers and acquisition and new product developments. Players operating in the market are improving R&D capabilities while enhancing operational efficiency to register positive growth.
Objective of the Study:
To analyze historical growth in the market size of the Global Mining Equipment Market from 2016 to 2020.
To estimate and forecast the market size of the Global Mining Equipment Market from 2021 to 2026 and growth rate until 2026.
To identify dominant region or segment in the Global Mining Equipment Market.
To identify drivers and challenges for the Global Mining Equipment Market.
To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global Mining Equipment Market.
To conduct pricing analysis for the Global Mining Equipment Market.
To identify and analyze the profile of leading players operating in the Global Mining Equipment Market
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Global Mining Equipment Market
4. Voice of Customer
4.1. Factors Influencing Purchase Decision
4.2. Brand Awareness
4.3. Challenges Faced Post Purchasing
5. Executive Summary
6. Global Mining Equipment Market Outlook
6.1. Market Size & Forecast
6.1.1. By Volume
6.1.2. By Value
6.2. Market Share & Forecast
6.2.1. By Category (Crushing, Pulverizing, Screening, Mineral Processing, Surface & Underground)
6.2.2. By Application (Metal, Mineral, Coal, Others)
6.2.3. By Propulsion (Diesel, CNG/LNG, Electric)
6.2.4. By Power Output (< 500HP, 500HP-2000HP, >2000HP)
6.2.5. By Vehicle Type (Articulate Dump Trucks, Crawler Dozers, Crawler Excavators, Motor Graders, Rigid Dump Trucks, Drills, Electric Shovels, Hydraulic Excavators, Mining Dozers, Mining Trucks, Wheeled Loaders, Others)
6.2.6. By Region
6.2.7. By Company (2020)
6.3. Product Market Map (By Vehicle Type, By Region)
7. Asia-Pacific Mining Equipment Market Outlook
8. North America Mining Equipment Market Outlook
9. Europe Mining Equipment Market Outlook
10. South America Mining Equipment Market Outlook
11. MEA Mining Equipment Market Outlook
12. Market Dynamics
13. Market Trends & Developments
14. Competitive Landscape
14.2. Komatsu Ltd.
14.3. Liebherr International AG
14.4. Hitachi Ltd.
14.5. Deere & Company
14.6. XCMG Group
14.7. Doosan corporation
14.8. Sany Heavy Industry Co., Ltd.
14.9. AB Volvo
14.10. JC Bamford Excavators Ltd.
15. Strategic Recommendations
16. About the Publisher & Disclaimer
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