“Global Underground Mining Equipment Market: Growth, Outlook, and Competitive Analysis, 2018 – 2030” is the most recent market study released by Credence Research, Inc. The global underground mining equipment market had revenue of about USD 15,954.8 million in 2022, and it is predicted that it will increase at a CAGR of more than 2.80% from 2018 to 2030, reaching about USD 19,357.2 million.
Mining activities being expanded to extend the life of the mine are driving the market for underground mining equipment. Underground mining is extracting minerals and ore buried deep within the earth’s crust. There are several types of underground mining methods. A hard underground mining process mines hard minerals such as lead, copper, nickel, iron, gold and silver. There will be a rising in the demand for rocks, stones, sand, and other similar materials for building roads, buildings, monuments, and landscaping. In addition to a rise in government investment schemes in non-metal mining, the global underground mining machinery market is anticipated to be driven by this trend. The Northern Australia Infrastructure Facility (NAIF) and Export Finance Australia (EFA) fund mineral extraction projects catering to defense and critical minerals needs in Australia. To reduce manufacturing costs and provide competitive differentiation, major OEMs engage in joint ventures and R&D programs with certain competitors to develop components and purchased-finished materials. In order to ensure long-term customer loyalty, market leaders develop differentiated products to offer a wide range of products.
Browse the market research report covering the full company profiles, size, trends, strategies @ Underground Mining Equipment Market
List of Top Companies Operating in the Underground Mining Equipment Market
- AB Volvo
Volvo (AB Volvo) manufactures and sells industrial and marine drive systems and commercial transport solutions. The company also offers equipment and services for the construction industry. In addition, the company offers support services such as roadside assistance, fuel management, and driver training. It also provides industrial information technology (IT) solutions, logistics solutions, and logistics solutions. In addition to its medium-heavy to heavy trucks, Volvo also produces Renault Trucks, Mack Trucks, and UD trucks for regional transport, long-haul, and construction. In addition to Sweden, France, Japan, the US, China, Brazil, and South Korea, Volvo has production facilities in several countries and markets its products worldwide.
- Caterpillar Inc.
It designs, manufactures, markets, and sells construction, transportation, and energy equipment, industrial gas turbines, forestry equipment, diesel-electric locomotives, and natural gas engines. Caterpillar Inc (Caterpillar) manufactures, designs, markets, and sells construction and mining equipment, industrial gas turbines, forestry equipment, and diesel-electric locomotives. The company sells asphalt pavers, backhoe loaders, compactors, draglines, integrated systems, reciprocating engines, and many other products. Customers and dealers can also obtain retail and wholesale financing for Caterpillar products from Caterpillar. The company serves several countries across North and South America, Asia-Pacific, Africa, the Middle East, and Europe through its subsidiaries and dealers.
- Deere & Company
It manufactures and distributes agricultural, construction, and forestry equipment and related service parts. Deere & Co (John Deere) provides advanced products and services. As part of the company’s product line, agricultural and turf equipment, outdoor power equipment, construction machines, earthmoving equipment, material handling equipment and timber harvesting equipment are included. The company owns manufacturing facilities and leases administrative offices and research centers worldwide. It also provides wholesale financing for the sale and lease of new and used equipment and extended equipment warranties.
- Doosan Corporation
An international holding company, Doosan Corp (Doosan) operates in various industries, including energy, water plants, engines, chemical processing equipment, construction and engineering, hydraulic components, industrial vehicles, construction equipment, and castings. Financial, consulting, information technology, ingredients, media, materials, distribution, and leisure services are also provided by Doosan. In addition to seawater desalination facilities, it produces low-speed diesel engines for ships, large and medium excavators, skid steer loaders, portable air compressors, and attachments for compact track loaders.
- Atlas Copco AB
The Atlas Copco Group (Atlas Copco) provides industrial productivity solutions, including air treatment, compressors, assembly, and industrial power tools. Furthermore, the company provides vacuum and machine vision solutions and power and flow solutions. The company’s products help customers increase productivity, ergonomics, and energy efficiency. Atlas Copco serves customers in the construction, manufacturing and process industries in North America, South America, Africa, the Middle East, Europe and Asia Pacific. Several manufacturing and product development units are in India, Sweden, Germany, the United States, South Korea, Belgium, China, Canada, and the UK.
- Hitachi, Ltd.
The Hitachi Group (Hitachi) manufactures and sells information and telecommunications systems, power systems, social infrastructure, industrial systems, construction machinery, and electronic devices and equipment. The company manufactures and sells power systems, information and telecommunication systems, social infrastructure, industrial systems, construction machinery, electronic equipment, automotive systems, and eco-friendly systems for smart lives. Besides manufacturing and communications, it also offers healthcare and life science services and government, energy, transportation, automobile, aerospace, nuclear, and technology products.
- Komatsu Ltd
The Komatsu Group manufactures construction, mining, utilities, forest machines, and industrial equipment. Through its manufacturing and technological innovation, the company also supplies products, services, and solutions that address social issues. As part of its construction and mining equipment offering, the company provides excavating, loading, grading, roadbed preparation, hauling equipment, forestry equipment, tunneling machines, recycling equipment, industrial vehicles, engines, castings, and logistical equipment.
- Liebherr-International Ag
A global leader in construction machinery, Liebherr-International AG (Liebherr) manufactures, distributes and designs tower cranes, wheeled loaders, truck cranes, hydraulic rope excavators, hydraulic excavators, pipe-laying machines, dump trucks, crawler tractors and loaders, concrete mixing plants and truck mixers. Additionally, Liebherr provides services such as the supply of spare parts, logistics, rental, and hospitality services. There are production facilities in Austria, Brazil, Bulgaria, China, France, Germany, the United Kingdom, India, Ireland, Mexico, the Russian Federation, Spain, Switzerland, Thailand, and the United States of America.
- Metso Corporation
A leading global supplier of technology and services for mineral processing and metallurgy, Metso Outotec Corp (Metso Outotec). As well as processing bauxite, alumina, and aluminum, the company provides energy production, sulfuric acid production, smelting and converting off-gas cleaning, and physical separation equipment for various applications.