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Mining Machinery Market Report
The Market is Segmented by Category Type (Crushing, Pulverizing, Screening Machinery; Mineral Processing Machinery; Surface Mining Machinery [Articulated Dump Trucks, Crawler Dozers, Crawler Excavators, Motor Graders, and Rigid Dump Trucks], and Underground Mining Machinery [Drills, Electric Shovels, Hydraulic Excavators, Mining Dozers, Mining Trucks, and Wheeled Loaders]), by Propulsion Type ...
Impact of COVID-19 on Mining Machinery Market
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy 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.
Mining Machinery Market is likely to witness a CAGR of 4.3% during the forecast period. Surge in demand for metals and electric mining machineries is expected to drive the growth of the market. Furthermore, increasing infrastructure development and construction activities in emerging economies are expected to drive the market growth during the forecast period.
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Mining Machinery Market – Snapshot |
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Growth |
4.3% for the next five years |
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Major Propulsion Type |
Diesel |
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Major Category Type |
Mining Truck |
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Major Application Type |
Mineral |
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Region with the highest demand |
Asia-Pacific |
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Key Players |
Caterpillar INC., Komatsu LTD., Sandvik AB, Epiroc AB, Doosan Corporation, Liebherr, Volvo Group, Hitachi Construction Machinery Co., Ltd., Sany Heavy Equipment International Holdings Company Limited, JCB |
Based on the propulsion type, the market is segmented as diesel and CNG/LNG/RNG. The diesel segment is expected to hold the larger share of the market during the forecast period owing to the use of diesel-operated machineries for surface mining and the presence of a large number of surface mines across the globe. Furthermore, diesel-powered mining machinery provides high torque at low speeds, consumes less fuel, and produces more energy; as a result, diesel is the most commonly used fuel in mining machinery. This is expected to drive the market growth during the forecast period.
Based on the category type, the market is segmented as crushing, pulverizing, screening machinery; mineral processing machinery; surface mining machinery, and underground mining machinery. Electric shovels, drills, hydraulic excavators, mining dozers, mining trucks, and wheeled loaders comprise the underground mining machinery segment. The mining trucks segment is expected to capture the largest share of the market during the forecast period as mining trucks are in high demand because they are used to transport dirt, minerals, metals, and coal.
Based on the application type, the market is segmented as mineral, metal, and coal. The mineral segment is estimated to account for the major share of the market during the forecast period due to the increasing demand for minerals from various industries. Furthermore, the growing demand for electric vehicles, as well as the mining industry's focus on extracting minerals such as nickel, lithium, and cobalt to support the manufacturing of batteries for electric vehicles, is expected to drive the market growth during the forecast period.
In terms of regions, Asia-Pacific is estimated to be the leading region in the market owing to its abundance of deposits such as Barite, limestone, and several semi-precious gems. Furthermore, rising demand for coal in emerging economies, as well as rapid development in China and India, is expected to fuel the market growth over the forecast period. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Mining activities are broadly defined as the extraction or physical removal of solid ores, materials, and substances from geological deposits. In the modern mining sector, heavy industry-manufactured vehicles and machineries are used to explore geological deposits of economically-vital and valuable mineral, ore, and chemical substance deposits, develop mines to access the deposits, and remove or mine away the deposits for stockpiling and storage prior to ore and material processing.
This report studies the market covering a period of 12 years of trend and forecast. 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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Mining Machinery Market Research Report - Features |
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|---|---|
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Market Segmentation |
8 |
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Regions Covered |
4 |
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Countries/Sub-Regions Covered |
17 |
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No. of Figures & Tables |
>170 |
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Company Profiles |
10 |
The mining machinery market is segmented into the following categories.
Some of the key players in the mining machinery market are-
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 sales@stratviewresearch.com.
The mining machinery market is expected to witness an impressive growth of 4.3% CAGR in the coming years.
Caterpillar INC., Komatsu LTD., Sandvik AB, Epiroc AB, Doosan Corporation, Liebherr, Volvo Group, Hitachi Construction Machinery Co., Ltd., Sany Heavy Equipment International Holdings Company Limited, JCB are among the key players in the mining machinery market.
The diesel segment is expected to hold the larger share in the mining machinery market in the foreseeable years.
The mining trucks segment is expected to capture the largest share in the mining machinery market in the next five years.
The mineral segment is expected to account for the major share in the mining machinery market in the foreseeable future.
Asia-pacific is expected to be the leading mining machinery market during the forecast period.
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