Global Underground Mining Equipment Market: Snapshot
Rising urbanization and growing industrialization in most parts of the world is leading to an increasing demand for metals and minerals. This is motivating mining enterprises to invest in advanced equipment for improved efficiency and productivity. Moreover, stringent regulations for reducing fuel consumption, curbing greenhouse gas effects, and labor safety norms are compelling mining enterprises to replace conventional equipment with state-of-the-art energy efficient solutions.
Underground mining equipment is used to excavate hard minerals, which mainly contain metals such as iron, copper, nickel, lead, tin, silver, gold, and zinc, along with ores of precious stones such as diamond. To facilitate the mining of minerals beneath the earth’s surface, miners construct underground chambers to carry out the work. The mining company employs best feasible methodologies for extracting the minerals factoring in operational and non-operational parameters and the economic viability of the operation.
Request Sample Copy of the Report @
Underground mining employs different types of equipment for different stages. For instance, material handling activities such as loading and hauling of excavated ore employ slushers, front-end loaders, Load-Haul-Dump units, gathering-arm loaders, overhead loaders, and rubber-tired shuttle cars and trucks. This also employs transportation by rail, conveyor, and gravity flow. Typically, in mineral mining operations, ores are loaded into underground equipment and conveyed to ore passes, where the ore is dumped. A chute is usually present at the lower level opening of the pass, where the ore is loaded and is carried either to the underground bins or is directly carried to the main haulage level.
Some other equipment that is used in underground mining operations include boomheaders, continuous miners and shearers, and coal cutters.
Global Underground Mining Equipment Market: Overview
Underground mining entails extracting metals, minerals, and ores such as iron ore, bauxite, titanium, and copper, and various non-metallic products from beneath the earth’s surface. The mining methods deployed for underground extraction are chosen after factoring in geographical conditions, spatial and geometric characteristics, the value of the ore, possible operational costs, and most important – the availability of raw materials.
Based on application, the global underground mining equipment market can be segmented into mineral mining, coal mining, and metal mining. Among them, the coal mining sector has been grossing maximum revenue and in the near future too will continue raking in robust revenue on the back of the energy industry driving demand. By type, the global underground mining equipment market can be segmented into room and pillar and longwall.
Request TOC of the Report @
A report by TMR Research report presents a comprehensive evaluation of the market. It furnishes in-depth qualitative insights and leverages historical data to make projections about market size. To do so, it has used proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market. The report also lists leading players in the market and leverages popular analytical tools to gauge the current competitive dynamics.
Global Underground Mining Equipment Market: Drivers and Trends
The swift-pace of urbanization and rapid industrialization worldwide has majorly contributed to the global underground mining equipment market. This is because both require massive amounts of energy which has upped the need for coal needed for power generation. This has, in turn, boosted demand for underground mining equipment needed to extract coal. In fact, maximum demand for underground equipment is generated by the coal sector.
Further, better living standards and higher spending capacity of people has led to increased sales of gold, aluminum, and copper, among other commodities. This has helped augment demand for underground mining equipment used for mining metals. A recent noticeable trend in the global underground equipment market is the immense thrust on developing advanced and more effective mining equipment for transportation, excavation, washing, and screening processes that helps to keep energy costs at bay. This has led to savvy companies rapidly supplanting outdated machinery with energy efficient ones for better profit margins.
Global Underground Mining Equipment Market: Regional Outlook
Based on geography, the key segments of the global underground mining equipment market are Asia Pacific, Europe, North America, and the Rest of the World. At present, Asia Pacific dominates the global market with a leading share because of the increasing mining activities in the emerging economies of China, Australia, and India. In fact, China’s insatiable demand for coal to a great extent shapes the competitive dynamics in the market.
Besides Asia Pacific, North America is another key market. The rising number of mining sites, especially of coal has brought about high demand of specialized mining equipment in the region. Additionally, government regulations pertaining to mining safety, employment, environment, and equipment usage have also stoked demand for technologically improved underground mining equipment. Midwest in the U.S. is a major contributor to the region’s revenue. The Middle East and Africa are also considered important contributors.
Companies Mentioned in Report
To present a detailed assessment of the competition prevailing in the global underground mining equipment market, the report profiles important companies such as Sandvik AB, Komatsu Ltd, Volvo AB, Caterpillar Inc., Joy Global Inc., Hitachi Construction Machinery Co. Ltd., Boart Longyear Ltd., Kennametal, Inc., Metso Corporation, and Thyssenkrupp AG.
Read Comprehensive Overview of Report @
The study presents reliable qualitative and quantitative insights into:
Market segments and sub-segments
Market trends and dynamics
Supply and demand chain of the market
Market valuation (revenue and/or volume)
Forces defining present and estimated future state of the competitive landscape
Value chain and stakeholder analysis
The regional analysis covers:
Middle East and Africa
The vast market research data included in the study is the result of extensive primary and secondary research activities. Surveys, personal interviews, and inputs from industry experts form the crux of primary research activities and data collected from trade journals, industry databases, and reputable paid sources form the basis of secondary research. The report also includes a detailed qualitative and quantitative analysis of the market, with the help of information collected from market participants operating across key sectors of the market value chain. A separate analysis of macro- and micro-economic aspects, regulations, and trends influencing the overall development of the market is also included in the report.
Highlights of the report:
A detailed analysis of key segments of the market
Recent developments in the market’s competitive landscape
Detailed analysis of market segments up to second or third level of segmentation
Historical, current, and projected future valuation of the market in terms of revenue and/or volume
Key business strategies adopted by influential market vendors
Outline of the regulatory framework surrounding and governing numerous aspects of the market
Growth opportunities in emerging and established markets
Recommendations to market players to stay ahead of the competition
About TMR Research
TMR Research is a premier provider of customized market research and consulting services to business entities keen on succeeding in today’s supercharged economic climate. Armed with an experienced, dedicated, and dynamic team of analysts, we are redefining the way our clients’ conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends.
Our savvy custom-built reports span a gamut of industries such as pharmaceuticals, chemicals and metals, food and beverages, and technology and media, among others. With actionable insights uncovered through in-depth research of the market, we try to bring about game-changing success for our clients.
3739 Balboa St # 1097,
San Francisco, CA 94121