The market for underground mining trucks was estimated US$ 1.28 Bn in 2016 which is expected to reach US$ 2.35 Bn by 2025 at a CAGR of 6.8% through the forecast period 2017 - 2025. Rising number of underground mines in order to satisfy global demand for metals and minerals is expected encourage the sale of underground mining trucks across the world. In addition, stringent miners’ safety regulation and environment protection laws are increase the adoption advanced underground equipment which satisfy operational and regulatory norms. Moreover, demand for fuel efficient trucks is expected increase through the forecast period due to rising need to reduce fuel consumption and greenhouse gas effect. Mining equipment manufacturers are integrating customized hardware and software solutions to reduce fuel particulates and to improve fuel efficiency.
Global underground mining trucks market is highly competitive and multinational players have strong hold in the global market. Market collaboration is expected to increase market competition as market leading players are focusing on market expansion through mergers and acquisitions. Caterpillar, Atlas Copco, GHH Fahrzeuge, Volvo, Sandvik, Zanam Legmet, Maclean, DUX, Bell, Get-man and MOAZ following are some major players in the global underground mining trucks industry. Caterpillar is aggressively focusing on market expansion in underground mining truck segment through mergers and acquisitions. In August 2016, Caterpillar Underground Mining Pty, Ltd (CUGM) has acquired the intellectual property (IP) of underground articulated truck designs from Ground Force Worldwide. This has helped company to add more design options to its 20 tonnes underground truck segment. The company also acquired intellectual property of articulated underground truck designs from Specialised Vehicle Solutions Pty Ltd (SVS). Such recent acquisitions has helped the company to strengthen its position in underground truck segment.
1.1.1 USP and Key Offerings
The report titled “Underground Trucks Market- Growth, Future Prospects, and Competitive Analysis, 2015 – 2025” offers strategic insights into the overall underground trucks market along with the market estimates and forecast (in terms of both revenue and volume) for the duration 2015 to 2025. This research study covers in-depth analysis of multiple market segments based on engine type, capacity and different geographies. The report include market estimates in terms of both revenue and volume for regional markets (North America, Europe, Asia Pacific and Rest of the world) as well as for major countries in the region.
In order to assist in strategic decision making, the report also includes competitive profiling of the leading players in underground trucks market, attractive investment proposition and, and market positioning of key vendors sections. Other in-depth analysis provided in the report includes:
- Current and future market trends to justify the forthcoming attractive markets within the underground trucks industry
- Market influencing factors, market impediments, and their impact on the market growth
- In-depth competitive environment analysis
- Historical 2-Years market size data (2015 – 2016)
- Market Forecast for the period 2017 – 2025
- Market investment proposition – Key Investment Segments
- Company profiles of leading players in the global underground trucks industry (including financial overview, product portfolio, recent developments and major competitors)
Overall, the research study provides a holistic view of the treatment global heavy axles market, offering market size and estimates for the period from 2015 to 2025, keeping in mind the above-mentioned factors.
The global underground trucks market is classified into following categories:
- By Engine Type
- By Capacity
- Less than 18 tons
- 18 tons to less than 26
- 26 tons to less than 36
- 36 tons to less than 46
- 46 tons to less than 56
- 56 tons to less than 65
- Capacity 65 Tons or More
- By Region
- North America
- U.S.
- Rest of North America
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Rest of the World
- Latin America
- Middle East and Africa
