Large Mining Shovels Market By Shovel Type (Dragline Shovel, Bucket Shovel, Hybrid Shovel), By Power Source (Hydraulic Shovel, Electric Shovel) - Growth, Future Prospects And Competitive Landscape, 2018 – 2026

Industry Outlook

The growth in the large mining shovel market has been stable over the last few years, mainly supported by steady population growth and consequent demand for metals and minerals worldwide. Furthermore, with continual technological advancements, the large mining shovel market would benefit from replacing obsolete systems with state-of-the-art equivalents. The trend is more prevalent in matured Triad economies (the U.S., Europe, and Japan), where mine operators are replacing their old machinery with advanced solutions in order to provide quality aggregates and meet demand. In addition, stringent government regulations forcing mine operators to deploy advanced machinery and electrical shovels that comply with emission and safety regulations is further supporting market demand.

Dragline Shovels are Being Rapidly Replaced by More Advanced Versions of Bucket Shovels

Dragline shovel is one of the biggest and most expensive mining equipment available for surface mining; hence, dragline shovels are used for on-surface mining and high-value civil engineering projects. However, transportation of such shovels is highly complex and hence, are assembled on-site instead of driven through by roads. Consequently, the complexities associated with dragline shovels provide a pathway to bucket shovels. However, the hybrid shovel is packed with dragline and bucket shovel benefits. Subsequently, the hybrid shovel is expected to demonstrate the fastest growth in the coming years.

Environmental Issues are Diverting Attention from Hydraulic Shovels Towards Electric Shovels

The majority of the market share in the overall large mining shovel market is claimed by hydraulic mining shovels. Hydraulic mining shovels derive power from conventional engines and hence are a contributor to environmental issues such as global warming. Owing to this, several mining contractors and companies are slowly diverting their preference toward a cleaner version of electric shovels. Large electric mining shovel is a new breed of mining equipment and is much appreciated over the hydraulic version; hence large electric mining shovels are expected to grow with the highest growth rate in coming years. However, sizeable hydraulic mining will retain its dominance throughout the forecast period.

Growth in Surface Mining in the Asia Pacific is Encouraging the Demand for Large Mining Shovel

90% of the global mining sectors are dominated by surface mining, and hence large mining shovels market is flourishing in the region, predominantly in the Asia Pacific. Consistent growth in surface mining in China and India has certainly encouraged the demand for large mining shovels. However, mines in North America and Europe are replacing their existing old large mining shovels with new ones propelling the demand for large mining shovels. Furthermore, consistently developing and mechanizing the existing mining infrastructure in Latin America and Africa is also one of the prime factors in the growth of demand for large mining shovels. The Asia Pacific is expected to retain its dominant position throughout the forecast period from 2018 to 2026. The Asia Pacific is followed by North America, Europe, and the Rest of the World, respectively.


  Research Period        2017-2027  

  Base Year                 2018  

  Forecast Period         2019-2027  

  Historical Year           2017  

  Unit                         USD Billion  

 Segmentation  By Shovel Type (2016–2026; US$ Bn)

  • Dragline Shovel
  • Bucket Shovel
  • Hybrid Shovel

 By Power Source (2016–2026; US$ Bn)

  • Hydraulic Shovel
  • Electric Shovel

 Geography Segment (2016–2026; US$ Bn)

  • North America (U.S., Canada)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of the World (Middle East & Africa, Latin America)

Competitive Landscape

The research study covers some of the leading large mining shovels markets, including JCB Ltd., Caterpillar Inc., Hitachi Construction Machinery Co. Ltd., Volvo Construction Equipment, Komatsu Limited, Sandvik AB, China National Coal Mining Equipment Co. Ltd., Metso Corporation, Zhengzhou Coal Mining Machinery Group Co. Limited, and Boart Longyear Ltd.

Every manufacturer participating in the large mining shovel market is an industry giant backed by heavy market revenue and networking. Hence the market is highly concentrated by a few of the top mining equipment manufacturing giants. Thus very limited opportunities are left for new entrants to enter and claim their market share. These companies toil extremely hard to gain contracts from the government and mining agencies to maintain their market position. Besides, continuous advancement in existing technologies and rising inclination towards electric versions is one of the prime business strategies adopted by the companies.

Frequently asked questions :

The market for Large Mining Shovels Market is expected to reach US$ XX Bn in 2026.

The Large Mining Shovels Market is expected to see significant CAGR growth over the coming years, at XX%.

The report is forecasted from 2018-2026.

The base year of this report is 2017.

Caterpillar Inc., Hitachi Construction Machinery Co. Ltd., Volvo Construction Equipment, Komatsu Limited, Metso Corporation, JCB Ltd. are some of the major players in the global market.

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Published Date:  May 2019
Category:  Building & Construction
Report ID:   59682
Report Format:   PDF
Pages:   120
Rating:    4.4 (58)
Delivery Time: 24 Hours to 48 Hours   
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