Global Underground Mining Equipment Market Overview
According to SPER Market Research, the Global Underground Mining Equipment Market is estimated to reach USD 231.45 billion by 2033 with a CAGR of 4.84%.
Equipment used for performing underground activities in the mining sector, such as loaders, trucks, and diggers, is referred to as underground mining equipment. The process of extracting minerals and ores from the deep layers of the earth's crust is known as underground mining. The two main categories of underground mining methods are hard mining and soft mining. Hard underground mining involves the excavation of hard minerals like gold, silver, copper, nickel, lead, and other metals. However, soft underground mining techniques are used to recover minerals including potash, coal, oil shale, and other minerals. Depending on the type of mineral that needs to be mined, many types of mining equipment are offered on the market. Overhead loaders, draglines, shovels, haul trucks, front end loaders, gathering-arm loaders, conveyors, etc. are tools used in underground mining.
Exploring the Growth Drivers of the Global Underground Mining Equipment Industry.
The global underground mining equipment industry has been growing steadily over the years, and there are several growth drivers behind this trend. One of the main growth drivers is the increasing demand for minerals and metals. As the world's population continues to grow, so does the demand for resources such as copper, gold, and iron ore. These resources are essential for various industries, including construction, electronics, and transportation. As a result, there is a growing need for underground mining equipment to extract these resources. Additionally, the underground mining equipment industry has seen significant advancements in recent years, with the development of advanced drilling and cutting technologies, automation, and improved safety features. These advancements have increased the efficiency and safety of underground mining operations, making them more attractive and profitable for mining companies.
What challenges does the Global Underground Mining Equipment face?
Mining is an important industry that provides essential resources such as minerals and metals for various uses. Underground mining, in particular, involves extracting these resources from beneath the earth's surface. However, this process is not without its challenges, and the global underground mining equipment market faces several obstacles. One significant challenge is the cost and complexity of the equipment required for underground mining. This equipment needs to be specialized and designed to work in the unique conditions of underground mining, such as low light, high temperatures, and limited space. Additionally, this equipment needs to be maintained regularly, which can be costly.
In what ways has the COVID-19 pandemic affected Global Underground Mining Equipment Market?
The abrupt COVID-19 pandemic breakout had caused the imposition of strict lockdown laws across a number of nations, which temporarily halted many mining operations and had a detrimental effect on the global market for underground mining equipment. The world economy was immediately impacted by the COVID-19 epidemic, and this effect was seen across all sectors, including mining. Major commodities all experienced significant price decreases, however in other cases, prices remained stable. Due to a lack of equipment operators, underground mining operations have ceased in the United States and elsewhere in the world. Furthermore, due to the disruption of the transportation systems caused by the shutdown, metal and one quarries and processing facilities have suspended operations
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Product Type, By Mining Technique, By Mining Method, By Application, By End User
|
| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America
|
| Companies Covered | BELAZ, Caterpillar Inc., Epiroc AB, Hitachi Construction Machinery Co., Ltd., Komatsu Ltd., Liebherr, Sandvik AB, Sany Group Co., Ltd., Volvo, XCMG Group
|
Target Audience:
- Aftermarket Supplier
- Manufacturers
- Potential Investors
- Raw Materials Suppliers
- Research Institute/Education
Global Underground Mining Equipment Market Segmentation:
1. By Product Type:
- Continuous Miners
- Mining Bolters
- Mining Drills
- Mining Excavators & Shovels
- Mining Loaders
- Mining Scalers
- Mining Shearer
- Mining Trucks
2. By Mining Technique:
- 8Hard Rock Mining
- Soft Rock Mining
3. By Mining Method:
- Longwall Extraction
- Room & Pillar Extraction
4. By Application:
- Coal Mining
- Metal Mining
- Mineral Mining
5. By End User:
- Mining Operators
- Rental Service Provider
6. By Region:- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- Latin America
Key Topics Covered in the Report:
- Global Underground Mining Equipment Market Size (FY’2023-FY’2033)
- Overview of Global Underground Mining Equipment Market
- Segmentation of Global Underground Mining Equipment Market By Product Type (Continuous Miners, Mining Bolters, Mining Drills, Mining Excavators & Shovels, Mining Loaders, Mining Scalers, Mining Shearer, Mining Trucks)
- Segmentation of Global Underground Mining Equipment Market By Mining Technique (Hard Rock Mining, Soft Rock Mining)
- Segmentation of Global Underground Mining Equipment Market By Mining Method (Longwall Extraction, Room & Pillar Extraction)
- Segmentation of Global Underground Mining Equipment Market By Application (Coal Mining, Metal Mining, Mineral Mining)
- Segmentation of Global Underground Mining Equipment Market By End User (Mining Operators, Rental Service Provider)
- Statistical Snap of Global Underground Mining Equipment Market
- Growth Analysis of Global Underground Mining Equipment Market
- Problems and Challenges in Global Underground Mining Equipment Market
- Competitive Landscape in the Global Underground Mining Equipment Market
- Impact of COVID-19 and Demonetization on Global Underground Mining Equipment Market
- Details on Recent Investment in Global Underground Mining Equipment Market
- Competitive Analysis of Global Underground Mining Equipment Market
- Key Players in the Global Underground Mining Equipment Market
- SWOT Analysis of Global Underground Mining Equipment Market
- Global Underground Mining Equipment Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data
2.1.2 Primary data
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2. COVID-19 Impacts of the Global Underground Mining Equipment Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths
5.1.2 Weaknesses
5.1.3 Opportunities
5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape
5.2.2 Economic landscape
5.2.3 Social landscape
5.2.4 Technological landscape
5.2.5 Environmental landscape
5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers
5.3.2 Bargaining power of Buyers
5.3.3 Threat of Substitute
5.3.4 Threat of new entrant
5.3.5 Competitive rivalry
5.4. Heat map analysis
6. Competitive Landscape
6.1 Global Underground Mining Equipment Market Manufacturing Base Distribution, Sales Area, Product Type
6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Underground Mining Equipment Market
7. Global Underground Mining Equipment Market, By Product Type, 2019-2033 (USD Million)
7.1 Continuous Miners
7.2 Mining Bolters
7.3 Mining Drills
7.4 Mining Excavators & Shovels
7.5 Mining Loaders
7.6 Mining Scalers
7.7 Mining Shearer
7.8 Mining Trucks
8. Global Underground Mining Equipment Market, By Mining Technique, 2019-2033 (USD Million)
8.1 Hard Rock Mining
8.2 Soft Rock Mining
9. Global Underground Mining Equipment Market, By Mining Method, 2019-2033 (USD Million)
9.1 Longwall Extraction
9.2 Room & Pillar Extraction
10. Global Underground Mining Equipment Market, By Application, 2019-2033 (USD Million)
10.1 Coal Mining
10.2 Metal Mining
10.3 Mineral Mining
11. Global Underground Mining Equipment Market, By End User, 2019-2033 (USD Million)
11.1 Mining Operators
11.2 Rental Service Provider
12. Global Underground Mining Equipment Market, By Region, 2019-2033 (USD Million)
12.1 Global Underground Mining Equipment Market Size and Market Share by Region (2019-2026)
12.2 Global Underground Mining Equipment Market Size and Market Share by Region (2027-2033)
12.3 Asia-Pacific
12.3.1 Australia
12.3.2 China
12.3.3 India
12.3.4 Japan
12.3.5 South Korea
12.3.6 Rest of Asia-Pacific
12.4 Europe
12.4.1 France
12.4.2 Germany
12.4.3 Italy
12.4.4 Spain
12.4.5 United Kingdom
12.4.6 Rest of Europe
12.5 Middle East and Africa
12.5.1 Kingdom of Saudi Arabia
12.5.2 United Arab Emirates
12.5.3 Rest of Middle East & Africa
12.6 North America
12.6.1 Canada
12.6.2 Mexico
12.6.3 United States
12.7 Latin America
12.7.1 Argentina
12.7.2 Brazil
12.7.3 Rest of Latin America
13. Company Profiles
13.1 BELAZ
13.1.1 Company details
13.1.2 Financial outlook
13.1.3 Product summary
13.1.4 Recent developments
13.2 Caterpillar Inc.
13.2.1 Company details
13.2.2 Financial outlook
13.2.3 Product summary
13.2.4 Recent developments
13.3 Epiroc AB
13.3.1 Company details
13.3.2 Financial outlook
13.3.3 Product summary
13.3.4 Recent developments
13.4 Hitachi Construction Machinery Co., Ltd.
13.4.1 Company details
13.4.2 Financial outlook
13.4.3 Product summary
13.4.4 Recent developments
13.5 Komatsu Ltd.
13.5.1 Company details
13.5.2 Financial outlook
13.5.3 Product summary
13.5.4 Recent developments
13.6 Liebherr
13.6.1 Company details
13.6.2 Financial outlook
13.6.3 Product summary
13.6.4 Recent development
13.7 Sandvik AB
13.7.1 Company details
13.7.2 Financial outlook
13.7.3 Product summary
13.7.4 Recent developments
13.8 Sany Group Co., Ltd.
13.8.1 Company details
13.8.2 Financial outlook
13.8.3 Product summary
13.8.4 Recent developments
13.9 Volvo
13.9.1 Company details
13.9.2 Financial outlook
13.9.3 Product summary
13.9.4 Recent developments
13.10 XCMG Group
13.10.1 Company details
13.10.2 Financial outlook
13.10.3 Product summary
13.10.4 Recent developments
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
