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.
REGIONAL FRAMEWORK
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.
Underground Mining Equipment Market Report Analysis
CAGR (2023 - 2031)
US$ XX Million
US$ XX Million
Report Coverage
Key Players
Regional Overview
Market Segmentation
By Mining Type
By Application
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.
Underground Mining Equipment Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ XX Million |
| Market Size by 2031 | US$ XX Million |
| Global CAGR (2023 - 2031) | XX% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Mining Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
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.
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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
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