In this market, several types of equipment such as underground mining, surface mining, drills and breakers, crushing, pulverizing and screening and mineral processing machineries are used. On the basis of its comprehensive research, Lucintel forecasts that the mineral processing machinery will show above average growth during the forecast period.
Within the global mining equipment market, the surface mining equipment segment is expected to remain the largest market over the forecast period due to rising demand of metal and minerals across the world.
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By application type, the mining equipment market is segmented into coal, mineral, and metal. The metal segment is expected to show above average growth during the forecast period due to increasing metal mining activities with large scale urbanization in emerging economies like India and China.
By function type, the mining equipment market is segmented into transportation, processing, and excavation. The transportation segment is expected to show above average growth over the forecast period.
APAC is expected to remain the largest market during the forecast period mainly due to increasing coal and metal exploration activities for power generation and rising metal consumption because of large scale infrastructure development.
Emerging trends which have a direct impact on the dynamics of the industry are underground automation systems for efficient mining, automatic power crushers for crushing and compacting operations, multi-functional excavators for construction and demining functions, use of hybrid electric motors for cost effective operations, and rail-veyor technology for bulk material hauling solutions. Caterpillar, Komatsu, Hitachi Construction Machinery, Atlas Copco, and Sandvik are among the major players of the global mining equipment market.
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The study includes a forecast for the global mining equipment market by product, application, function, and region, as follows:
By Product Type ($ Billion from 2012 to 2023)
- Underground Mining Machinery
- Surface Mining Machinery
- Drills and Breakers
- Crushing, Pulverizing, and Screening Equipment
- Mineral Processing Machinery
- Parts and Attachments
By Application Type ($ Billion from 2012 to 2023)
By Function Type ($ Billion from 2012 to 2023)
- Transportation
- Processing
- Excavation
By Region ($ Billion from 2012 to 2023)
- North America
- Europe
- Asia Pacific
- Rest of the World
This 179-page research report will enable you to make confident business decisions in this globally competitive marketplace.