Underground Mining Equipment Market Dynamics 2021-2031
MARKET INTRODUCTION
When minerals, rocks, or stones are located too far beneath the ground to be extracted by surface mining, underground mining is used. Miners construct underground rooms in which to operate in order to extract minerals from the mine. Continuous mining is used to remove coal deposits from the sides of the walls. Furthermore, as a result of the growing need for improved production, new mining processes have been created, resulting in a large growth in the use of mining equipment in the mining industry.
MARKET SCOPE
The "Global Underground mining equipment Market Analysis to 2031" is a specialized and in-depth study of the Underground mining equipment Market with a special focus on the global market trend analysis. The report aims to provide an overview of underground mining equipment market with detailed market segmentation by mining type and application. The global underground mining equipment market expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading underground mining equipment market player and offers key trends and opportunities in the underground mining equipment market.
MARKET SEGMENTATION
- Based on mining type the market is segmented as, strip pillar mining, room and pillar mining and thickness limited extraction.
- Further, based on application the market is segmented as, coal, metal and mineral.
MARKET DYNAMICS
Drivers
- Rising coal output and production, increased usage of high-capacity mining equipment, and supportive government regulations related to mining.
- Rising use of electric and other type of underground mining equipment.
- Growth in demand for minerals, metals across the globe for verticals.
Restraints
- The underground mining equipment market is restrained by presence of stringent regulations, lack of skilled workers and high cost of underground mining equipment.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global underground mining equipment market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The underground mining equipment market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting underground mining equipment Market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the underground mining equipment market in these regions.
IMPACT OF COVID-19 ON UNDERGROUND MINING EQUIPMENT MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities. Naveen Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global underground mining equipment market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The underground mining equipment market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting underground mining equipment Market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the underground mining equipment market in these regions.
IMPACT OF COVID-19 ON UNDERGROUND MINING EQUIPMENT MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The reports cover key developments in the underground mining equipment market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from underground mining equipment market are anticipated to lucrative growth opportunities in the future with the rising demand for underground mining equipment market. Below mentioned is the list of few companies engaged in the underground mining equipment market.
The report also includes the profiles of key underground mining equipment market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Atlas Copco (India) Ltd
- Boart Longyear
- Caterpillar Inc.
- Epiroc Finland Oy Ab
- J.H. Fletcher and Co.
- Komatsu Mining Corp
- Sandvik AB
- thyssenkrupp AG
- Liebherr
- FLSmidth
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Underground Mining Equipment Market - By Mining Type
1.3.2 Underground Mining Equipment Market - By Application
1.3.3 Underground Mining Equipment Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. UNDERGROUND MINING EQUIPMENT MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. UNDERGROUND MINING EQUIPMENT MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. UNDERGROUND MINING EQUIPMENT MARKET - GLOBAL MARKET ANALYSIS
6.1. UNDERGROUND MINING EQUIPMENT - GLOBAL MARKET OVERVIEW
6.2. UNDERGROUND MINING EQUIPMENT - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. UNDERGROUND MINING EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - MINING TYPE
7.1. OVERVIEW
7.2. MINING TYPE MARKET FORECASTS AND ANALYSIS
7.3. STRIP PILLAR MINING
7.3.1. Overview
7.3.2. Strip Pillar Mining Market Forecast and Analysis
7.4. ROOM AND PILLAR MINING
7.4.1. Overview
7.4.2. Room and Pillar Mining Market Forecast and Analysis
7.5. THICKNESS-LIMITED EXTRACTION
7.5.1. Overview
7.5.2. Thickness-Limited Extraction Market Forecast and Analysis
8. UNDERGROUND MINING EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. COAL
8.3.1. Overview
8.3.2. Coal Market Forecast and Analysis
8.4. METAL
8.4.1. Overview
8.4.2. Metal Market Forecast and Analysis
8.5. MINERAL
8.5.1. Overview
8.5.2. Mineral Market Forecast and Analysis
9. UNDERGROUND MINING EQUIPMENT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Underground Mining Equipment Market Overview
9.1.2 North America Underground Mining Equipment Market Forecasts and Analysis
9.1.3 North America Underground Mining Equipment Market Forecasts and Analysis - By Mining Type
9.1.4 North America Underground Mining Equipment Market Forecasts and Analysis - By Application
9.1.5 North America Underground Mining Equipment Market Forecasts and Analysis - By Countries
9.1.5.1 United States Underground Mining Equipment Market
9.1.5.1.1 United States Underground Mining Equipment Market by Mining Type
9.1.5.1.2 United States Underground Mining Equipment Market by Application
9.1.5.2 Canada Underground Mining Equipment Market
9.1.5.2.1 Canada Underground Mining Equipment Market by Mining Type
9.1.5.2.2 Canada Underground Mining Equipment Market by Application
9.1.5.3 Mexico Underground Mining Equipment Market
9.1.5.3.1 Mexico Underground Mining Equipment Market by Mining Type
9.1.5.3.2 Mexico Underground Mining Equipment Market by Application
9.2. EUROPE
9.2.1 Europe Underground Mining Equipment Market Overview
9.2.2 Europe Underground Mining Equipment Market Forecasts and Analysis
9.2.3 Europe Underground Mining Equipment Market Forecasts and Analysis - By Mining Type
9.2.4 Europe Underground Mining Equipment Market Forecasts and Analysis - By Application
9.2.5 Europe Underground Mining Equipment Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Underground Mining Equipment Market
9.2.5.1.1 Germany Underground Mining Equipment Market by Mining Type
9.2.5.1.2 Germany Underground Mining Equipment Market by Application
9.2.5.2 France Underground Mining Equipment Market
9.2.5.2.1 France Underground Mining Equipment Market by Mining Type
9.2.5.2.2 France Underground Mining Equipment Market by Application
9.2.5.3 Italy Underground Mining Equipment Market
9.2.5.3.1 Italy Underground Mining Equipment Market by Mining Type
9.2.5.3.2 Italy Underground Mining Equipment Market by Application
9.2.5.4 United Kingdom Underground Mining Equipment Market
9.2.5.4.1 United Kingdom Underground Mining Equipment Market by Mining Type
9.2.5.4.2 United Kingdom Underground Mining Equipment Market by Application
9.2.5.5 Russia Underground Mining Equipment Market
9.2.5.5.1 Russia Underground Mining Equipment Market by Mining Type
9.2.5.5.2 Russia Underground Mining Equipment Market by Application
9.2.5.6 Rest of Europe Underground Mining Equipment Market
9.2.5.6.1 Rest of Europe Underground Mining Equipment Market by Mining Type
9.2.5.6.2 Rest of Europe Underground Mining Equipment Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Underground Mining Equipment Market Overview
9.3.2 Asia-Pacific Underground Mining Equipment Market Forecasts and Analysis
9.3.3 Asia-Pacific Underground Mining Equipment Market Forecasts and Analysis - By Mining Type
9.3.4 Asia-Pacific Underground Mining Equipment Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Underground Mining Equipment Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Underground Mining Equipment Market
9.3.5.1.1 Australia Underground Mining Equipment Market by Mining Type
9.3.5.1.2 Australia Underground Mining Equipment Market by Application
9.3.5.2 China Underground Mining Equipment Market
9.3.5.2.1 China Underground Mining Equipment Market by Mining Type
9.3.5.2.2 China Underground Mining Equipment Market by Application
9.3.5.3 India Underground Mining Equipment Market
9.3.5.3.1 India Underground Mining Equipment Market by Mining Type
9.3.5.3.2 India Underground Mining Equipment Market by Application
9.3.5.4 Japan Underground Mining Equipment Market
9.3.5.4.1 Japan Underground Mining Equipment Market by Mining Type
9.3.5.4.2 Japan Underground Mining Equipment Market by Application
9.3.5.5 South Korea Underground Mining Equipment Market
9.3.5.5.1 South Korea Underground Mining Equipment Market by Mining Type
9.3.5.5.2 South Korea Underground Mining Equipment Market by Application
9.3.5.6 Rest of Asia-Pacific Underground Mining Equipment Market
9.3.5.6.1 Rest of Asia-Pacific Underground Mining Equipment Market by Mining Type
9.3.5.6.2 Rest of Asia-Pacific Underground Mining Equipment Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Underground Mining Equipment Market Overview
9.4.2 Middle East and Africa Underground Mining Equipment Market Forecasts and Analysis
9.4.3 Middle East and Africa Underground Mining Equipment Market Forecasts and Analysis - By Mining Type
9.4.4 Middle East and Africa Underground Mining Equipment Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Underground Mining Equipment Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Underground Mining Equipment Market
9.4.5.1.1 South Africa Underground Mining Equipment Market by Mining Type
9.4.5.1.2 South Africa Underground Mining Equipment Market by Application
9.4.5.2 Saudi Arabia Underground Mining Equipment Market
9.4.5.2.1 Saudi Arabia Underground Mining Equipment Market by Mining Type
9.4.5.2.2 Saudi Arabia Underground Mining Equipment Market by Application
9.4.5.3 U.A.E Underground Mining Equipment Market
9.4.5.3.1 U.A.E Underground Mining Equipment Market by Mining Type
9.4.5.3.2 U.A.E Underground Mining Equipment Market by Application
9.4.5.4 Rest of Middle East and Africa Underground Mining Equipment Market
9.4.5.4.1 Rest of Middle East and Africa Underground Mining Equipment Market by Mining Type
9.4.5.4.2 Rest of Middle East and Africa Underground Mining Equipment Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Underground Mining Equipment Market Overview
9.5.2 South and Central America Underground Mining Equipment Market Forecasts and Analysis
9.5.3 South and Central America Underground Mining Equipment Market Forecasts and Analysis - By Mining Type
9.5.4 South and Central America Underground Mining Equipment Market Forecasts and Analysis - By Application
9.5.5 South and Central America Underground Mining Equipment Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Underground Mining Equipment Market
9.5.5.1.1 Brazil Underground Mining Equipment Market by Mining Type
9.5.5.1.2 Brazil Underground Mining Equipment Market by Application
9.5.5.2 Argentina Underground Mining Equipment Market
9.5.5.2.1 Argentina Underground Mining Equipment Market by Mining Type
9.5.5.2.2 Argentina Underground Mining Equipment Market by Application
9.5.5.3 Rest of South and Central America Underground Mining Equipment Market
9.5.5.3.1 Rest of South and Central America Underground Mining Equipment Market by Mining Type
9.5.5.3.2 Rest of South and Central America Underground Mining Equipment Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. UNDERGROUND MINING EQUIPMENT MARKET, KEY COMPANY PROFILES
11.1. ATLAS COPCO (INDIA) LTD
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. BOART LONGYEAR
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. CATERPILLAR INC.
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. EPIROC FINLAND OY AB
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. J.H. FLETCHER AND CO.
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. KOMATSU MINING CORP
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. SANDVIK AB
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. THYSSENKRUPP AG
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. LIEBHERR
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. FLSMIDTH
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
1. Atlas Copco (India) Ltd
2. Boart Longyear
3. Caterpillar Inc.
4. Epiroc Finland Oy Ab
5. J.H. Fletcher and Co.
6. Komatsu Mining Corp
7. Sandvik AB
8. thyssenkrupp AG
9. Liebherr
10. FLSmidth
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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