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Surface Mining Equipment Market Report | Covid-19 Impact Analysis
The Surface Mining Equipment Market is segmented by Technique Type (Strip Mining, Mountain Removal Mining, and Open Pit Mining), by Mineral Type (Metallic Ore, Non-Metallic Ore, and Coal), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues has gone down in 2020 and may resume an uptrend gradually form 2021. Companies optimizing their operation and statergy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Surface mining equipment market is likely to witness a steady CAGR of 3.9% during the forecast period. The prime factor contributing to the demand for surface mining equipment is the growing mining activities.
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Surface Mining Equipment Market – Snapshot |
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Growth |
3.9% for the next five years |
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Key Technique Type |
Mountain Removal Mining |
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Major Mineral Type |
Metallic Ore |
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Region with the highest demand |
North America |
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Key Players |
BHP Billiton, Vale S.A, Rio Tinto, Anglo American, Freeport-McMoRan, Barrick Gold, Teck, and Goldcorp. |
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Based on the technique type, 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.
Based on the mineral type, the market is segmented as 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.
In terms of regions, North America is estimated to be the largest market for surface mining equipment. 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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Some of the major players in the surface mining equipment market are-
Surface mining denotes the removal of the terrain surface so as to access minerals underneath. Surface mining equipment are 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 report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Surface Mining Equipment Market Research Report – Features |
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Market Segmentation |
3 |
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Regions Covered |
4 |
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Countries/Sub-Regions Covered |
17 |
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No. of Figures & Tables |
>150 |
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Company Profiles |
8 |
The surface mining equipment market is segmented into the following categories.
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This report offers high-quality insights and is the outcome of 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 book, press release, journals, investor presentation, 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 the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. 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. The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
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 [email protected].
The surface mining equipment market is expected to witness an 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.
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