According to the latest report by IMARC Group, titled “Underground Mining Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global underground mining equipment market size reached US$ 27.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 34.0 Billion by 2028, exhibiting a growth rate (CAGR) of 3.29% during 2023-2028.
Underground mining equipment refers to machinery and equipment specifically designed for use in mining operations that take place below the earth's surface. This type of equipment is used to extract minerals, ores, and other valuable resources from underground deposits. Some of the commonly used underground mining equipment include drill rigs, loaders, haul trucks, and roof bolters. These machines are designed to operate in the challenging environment of underground mining, where space is limited and conditions can be hazardous. They are essential for extracting resources from deep within the earth, and their efficient operation is critical to the success of underground mining operations.
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Underground Mining Equipment Market Trends:
The increasing demand for minerals, such as coal, gold, and copper, represents a significant factor driving the market growth across the globe. In addition to this, the development of advanced underground mining equipment, such as autonomous haul trucks and electric vehicles is making mining operations more efficient and safer, which is further contributing to the growth of the market. The market is also driven by the development of new mining infrastructure, such as tunnels and shafts, to facilitate the extraction of minerals and ores from deeper underground. Apart from this, the increasing investment in mining projects, coupled with the expansion of the oil and gas industry is creating a positive outlook for the market across the globe.
Underground Mining Equipment Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the underground mining equipment market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Caterpillar Inc
- Epiroc AB
- Hitachi Construction Machinery Co.
- Komatsu Ltd
- Liebherr
- Sandvik AB
- Sany Group Co., Ltd.
- Volvo, BELAZ
- XCMG Group.
Key Market Segmentation:
Breakup by Type of Mining:
- Longwalls
- Room and Pillars
Breakup by Application:
- Coal Mining
- Metal Mining
- Mineral Mining
Regional Insights:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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According to the latest report by IMARC Group, titled “Underground Mining Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global underground mining equipment market reached a value of US$ 24.3 Billion in 2020.
Looking forward, IMARC Group expects the market to exhibit moderate growth during 2021-2026.We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries.
These observations will be integrated into the report.Request Free Report Sample:https://www.imarcgroup.com/underground-mining-equipment-market/requestsampleUnderground mining is an efficient and reliable process used for extracting material deposits like ores and minerals that are buried deep inside the earth’s crust.
It is safe, economical, produces negligible waste and does not cause substantial damage to the mining area.
It involves two types of underground mining techniques, namely, hard and soft mining.
Hard underground mining aids in the excavation of hard minerals such as lead, copper, nickel, iron, gold and silver.
The global Underground Mining Equipment market was valued at 176.29 Million USD in 2020 and will grow with a CAGR of 7.11% from 2020 to 2027, based on our Researcher newly published report.The prime objective of this report is to provide the insights on the post COVID-19 impact which will help market players in this field evaluate their business approaches.
Also, this report covers market segmentation by major market verdors, types, applications/end users and geography(North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa, Oceania, South America).Download FREE Sample of this Report @ https://www.statsmarketresearch.com/download-free-sample/6563418/global-regional-underground-mining-equipment-2021-2027-786Underground Mining Equipment is the mining equipment used in the underground.
Underground mining is a technique used to access ores and valuable minerals in the ground by digging into the ground to extract them.
Underground mining involves mineral production by extracting natural resources such as metals, coal, and minerals, including iron ore, titanium, bauxite, and copper, and various non-metallic products from beneath the earth`s surface.The mining methods required for underground extraction are selected based on parameters such as geographical conditions, spatial and geometric characteristics, the economic value of ore, estimated operational costs, and availability of raw materials.
Globally, APAC region generates the highest consumption value, followed by the North America, Europe, South America and Africa.
Also, the growing demand from coal industry will drive the underground mining equipment market.The coal mining sector was the highest revenue generator with over 40.21% market share in 2016, and this growth will continue through the forecast period.
The latest trending report Global Underground Mining Equipment Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025 offered by DecisionDatabases.com is an informative study covering the market with detailed analysis.
The report will assist reader with better understanding and decision making.The global Underground Mining Equipment market size is expected to gain market growth in the forecast period of 2020 to 2025, with a CAGR of 6.5% in the forecast period of 2020 to 2025 and will expected to reach USD 26270 million by 2025, from USD 20420 million in 2019.The Underground Mining Equipment market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.Browse the complete report and table of contents @ https://www.decisiondatabases.com/ip/17500-underground-mining-equipment-market-analysis-reportMarket segmentationUnderground Mining Equipment market is split by Type and by Application.
For the period 2015-2025, the growth among segments provide accurate calculations and forecasts for sales by Type and by Application in terms of volume and value.
This analysis can help you expand your business by targeting qualified niche markets.By Type, Underground Mining Equipment market has been segmented into Longwall, Room and Pillar, etc.By Application, Underground Mining Equipment has been segmented into Coal Mining, Metal Mining, Mineral Mining, etc.Regions and Countries Level AnalysisRegional analysis is another highly comprehensive part of the research and analysis study of the global Underground Mining Equipment market presented in the report.
For the historical and forecast period 2015 to 2025, it provides detailed and accurate country-wise volume analysis and region-wise market size analysis of the global Underground Mining Equipment market.The report offers in-depth assessment of the growth and other aspects of the Underground Mining Equipment market in important countries (regions), including United States, Canada, Mexico, Germany, France, United Kingdom, Russia, Italy, China, Japan, Korea, India, Southeast Asia, Australia, Brazil and Saudi Arabia, etc.
It also throws light on the progress of key regional Underground Mining Equipment markets such as North America, Europe, Asia-Pacific, South America and Middle East & Africa.Competitive Landscape and Underground Mining Equipment Market Share AnalysisUnderground Mining Equipment competitive landscape provides details by vendors, including company overview, company total revenue (financials), market potential, global presence, Underground Mining Equipment sales and revenue generated, market share, price, production sites and facilities, SWOT analysis, product launch.
