Mining Excavators Market By Type (Diesel Mining Excavators, Electric Mining Excavators, Hydraulic Mining Excavators), By End User (Surface Mining, Sub-surface Mining) - Growth, Future Prospects And Competitive Analysis, 2019 - 2027

"Growing Demand for Robust Mining Equipment Is Fueling the Growth of Mining Excavators Market"

Globally, the mining excavators market is expected to grow with a CAGR of more than 5% during the forecast period from 2019 to 2027. Globally, the mining equipment industry has witnessed a considerable growth based on increased mining operations across various parts of the globe. The demand for mining equipment such as excavators is mainly driven by recovery of commodity prices and increasing focus on technology and automation as the way forward.

Since past few years, many miners across the globe are increasingly adopting new technologies and innovative products to maintain the pace with the competitive industry and enhance productivity. This includes use of technology driven and robust mining excavators. Large number of companies are developing such technologically advanced and power driven excavators that which makes the operations easy and time saving.

Along with growing development of electric and autonomous mining equipment, increasing investments in mining sector is also equally responsible for the development of this market. Companies such as Liebherr, John Deere, and many others are investing and opening new factories dedicated to development of mining excavators. Such activities enable the companies to enhance their existing product offerings and simultaneously fuel the market growth with introduction of new and innovative equipment.

However, stringent government regulations with respect to safety standards, environmental concerns, emission norms, and import regulations, growing market for reused excavators, lack of standardization and high cost of equipment are likely to hinder the market growth during the forecast period.

Market Synopsis

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"Electric mining excavators are expected to dominate the market"

In 2018, the hydraulic mining excavators dominated the global market; however, this market segment is experiencing a steady growth as conventional hydraulic driven excavators are being upgraded to electric excavators. Increasing number of excavating tasks in the mining industry across the globe has created a significant demand for new and improved electric excavators.

As mining activities are conducted all around the world in the most demanding conditions, the electric equipment provide a greater advantage for them. The benefit of electric excavator such as less power consumption and loss compared to a diesel engine not only provides easy operations but also increases the operating hours without any major maintenance of the electric motor. These advantages have resulted in increased adoption of electric excavators for mining purposes.

Thus, increasing demand has propelled the manufacturers to increase their production capacities and provide efficient electric excavators in the mining industry.

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"Asia Pacific to Register the Fastest Growth"

Asia-Pacific dominates the mining excavators market by holding largest market share of nearly 60% of the total revenue generated worldwide.

As there is increased expansion of coal and metal mining in the region, the demand for advanced mining equipment is high in this region. Along with this, major manufacturers operating in the global mining excavators market have a wide presence in this region and conduct large investment in the Asia-Pacific manufacturing sector. Moreover, emerging countries such as China and India reduce fossil fuel consumption to fight pollution, which results in increasing the need for coal mining in the Asia-Pacific region. This in turns fuels the market growth.

In addition to this, major companies such as Atlas Copco, Deere & Company, are highly investing in expansion of their presence in this region. In Asia-Pacific, China account for largest market share as it pioneers in the mining equipment industry.

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Some of the prominent players operating in the mining excavators market include Liebherr Group, Hitachi Ltd., Caterpillar, Komatsu Ltd., BEML Ltd., XCMG Group, LiuGong, Demag, JCB, Kobelco Construction Machinery, Metso, CNH Industrial, Terex and Volvo Construction Equipment.

Historical & Forecast Period

This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The mining excavators market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global mining excavators market based on type, end user, and geography. Key segments covered in the report are as follows:

Key questions answered in this report

• What was the market size of mining excavators in 2018 and forecast up to 2027?
• Which is the largest regional market for hydraulic excavators segment?
• What are the major trends followed in mining excavators market across different regions?
• Who are the key mining excavator’s companies leading the market?
• What are the key strategies adopted by the leading mining excavator’s companies in market?

Unique data points of this report

• Statistics on mining excavators penetration and spending worldwide
• Recent trends across different regions in terms of adoption of mining excavators for various applications in mining industry
• Notable developments going on in mining excavators industry
• Attractive investment proposition for segments as well as geography
• Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)