Surface Mining Equipment Market | Covid-19 Impact Analysis

Surface Mining Equipment Market Insights

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.

Market Share Analysis

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Surface Mining Equipment Market Share: By Technique Type

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.

Surface Mining Equipment Market Share: By Mineral Type

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.

Surface Mining Equipment Market Share: By Region

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-

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

Market Scope & Segmentation

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.

The surface mining equipment market is segmented into the following categories. 

Surface Mining Equipment Market Size, Share, & Forecast, by Technique Type:

• Strip Mining (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Mountain Removal Mining (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Open Pit Mining (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Surface Mining Equipment Market Size, Share, & Forecast, by Mineral Type:

• Metallic Ore (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Non-Metallic Ore (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Coal (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Surface Mining Equipment Market Size, Share, & Forecast, by Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Research Methodology

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.

Report Features

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:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

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 [email protected].