Surface Mining Equipment Market Analysis | 2023-2028

Surface Mining Equipment Market Analysis | 2023-2028

Surface Mining Equipment Market Analysis | 2023-2028
Report code - SRCE171 Delivery - 2 Weeks
Surface Mining Equipment Market Size, Share, Trend, Forecast & Industry Analysis: See more...

“The Surface Mining Equipment Market is likely to witness a steady CAGR of 3.9% during the forecast period.”

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Market Dynamics

Introduction

Surface mining denotes the removal of the terrain surface to access minerals underneath. Surface mining equipment is used in surface mining to remove the overburden (soil and rock) overlying a mineral deposit. In particular, the process of surface mining is used to retrieve sand, gravel, stones, coal, iron, and other metals.

Surface Mining Equipment Market Overview

Growth

3.9% for the next five years

Key Technique Type

Mountain Removal Mining

Major Mineral Type

Metallic Ore

Region with the highest demand

North America

Key Players

BHP Billiton, Vale S.A, Rio Tinto, Anglo American, Freeport-McMoRan, Barrick Gold, Teck, and Goldcorp.

Market Drivers

The prime factor contributing to the demand for surface mining equipment is growing mining activities. The surge in demand for metals, such as zinc, gold, copper, and silver drives the market.

Segments Analysis

Surface-Mining-Equipment-Market-Dominant-Segments

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By Technique Type

“The mountain removal mining dominates the market during the forecast period.”

The market is segmented as strip mining, mountain removal mining, and open pit mining. The mountain removal mining segment is estimated to maintain its dominance over the forecast period, owing to its efficiency and lower labor cost.

By Mineral Type

“The metallic ore dominates the market during the forecast period.”

The market is segmented into metallic ore, non-metallic ore, and coal. The metallic ore segment is likely to grow with the highest CAGR over the forecast period. This growth is attributed to the surge in demand for metals, such as zinc, gold, copper, and silver.

Regional Analysis

“North America is estimated to be the largest market during the forecast period.” 

The growth of the North American market is attributed to the presence of major coal reserves such as the Appalachian region. Europe and Asia-Pacific are also likely to offer considerable growth opportunities during the forecast period.

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Key Players

The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc.

The following are the key players in the surface mining equipment market (arranged alphabetically).

  • Anglo American
  • Barrick Gold
  • BHP Billiton
  • Freeport-McMoRan
  • Goldcorp
  • Rio Tinto
  • Teck
  • Vale S.A

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Key questions this report answers

Relevant contents in the report

How big is the sales opportunity?

In-depth analysis of the Surface Mining Equipment Market

How lucrative is the future?

The market forecast and trend data and emerging trends

Which regions offer the best sales opportunities?

Global, regional, and country-level historical data and forecasts

Which are the most attractive market segments?

Market Segment Analysis and Forecast

Who are the top players and their market positioning?

Competitive landscape analysis, Market share analysis

How complex is the business environment?

Porter’s five forces analysis, PEST analysis, Life cycle analysis

What are the factors affecting the market?

Drivers & challenges

Will I get the information on my specific requirements?

10% free customization

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

 We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

  • Detailed profiling of additional market players (up to 3 players)
  • SWOT analysis of key players (up to 3 players)

Market Segmentation

  • Current market segmentation of any one of the mineral types by technique type.  

Competitive Benchmarking

  • Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com

Frequently Asked Questions (FAQs)

Surface mining denotes the removal of the terrain surface to access minerals underneath. Surface mining equipment is used in surface mining to remove the overburden (soil and rock) overlying a mineral deposit. In particular, the process of surface mining is used to retrieve sand, gravel, stones, coal, iron, and other metals.

The surface mining equipment market is expected to witness impressive growth of 3.9% CAGR in the foreseeable future.

BHP Billiton, Vale S.A, Rio Tinto, Anglo American, Freeport-McMoRan, Barrick Gold, Teck, and Goldcorp are among the key players in the surface mining equipment market.

North America is expected to be the largest surface mining equipment market during the next five years.

The mountain removal mining segment is expected to remain dominant in the surface mining equipment market in the coming years.

The metallic ore segment is expected to grow with the highest CAGR in the surface mining equipment market over the next five years.

The prime factor contributing to the demand for surface mining equipment is growing mining activities.