Underground Mining Equipment Market By Application (Coal Mining, Metal Mining and Minerals Mining), By Mining Method (Longwall Extraction and Room and Pillar Extraction) - Growth, Share, Opportunities & Competitive Analysis, 2018 - 2026

Rising urbanization in major countries worldwide and growing industrialization, particularly in emerging economies, is increasing the demand for metal and minerals. Increasing mining activities and improving global economic conditions motivate miners to invest in advanced underground mining equipment to improve their productivity. In addition, stringent fuel consumption, greenhouse gas effects, and labor safety regulations force miners to replace conventional machinery with advanced energy-efficient solutions. All the above factors represent a positive outlook for trade partners across the value of the underground mining machinery industry.

In recent years, many new technologies, including autonomous vehicles and 3D sensing, have been introduced by the underground mining equipment industry. In the upcoming years, it is anticipated that demand for underground mining equipment will continue to rise, giving businesses more chances to develop new products.

Some interesting facts about the underground mining equipment market:

1) Due to the high demand, underground mining equipment costs are rising quickly. A bucket truck, for instance, can cost up to $5 million, whereas an excavator is only about $300,000.
2) Low production capacity leads to a low market penetration rate. In addition, there are many challenges faced by manufacturers in terms of quality control and technology development.
3) The main application areas are mining operations (Coal Mining, Metal Mining, Mineral Mining)

This market research study includes a comprehensive analysis of market influencing and inhibiting factors related to the underground mining equipment industry. The research report also includes current and future global and regional underground mining equipment market trends. The report also includes exhaustive information on technology development, pricing, and demand-supply trends related to underground mining equipment. The report also covers high-level analysis included in the report, such as industry competitive assessment, value chain analysis, PESTEL analysis, and attractive analysis helps market players and trade partners across the value chain to identify the key potential area in the industry to formulate their strategies.

Moreover, the study provides market estimates and forecasts of different types of underground mining equipment and its market size in terms of both volumes (number of units sold) and revenue (US$ Bn). The underground equipment market is classified into its applications and mining methods, and estimates and forecast is provided for each of these segments. The report also includes a cross-sectional analysis on the regional basis, i.e., the regional market size by mining methods and application.

This study includes market historical market size (2016 & 2017), market estimate (2015), and forecast for the period 2018 – 2026 in terms of volume and revenue. The report also includes market estimates and forecasts of the underground mining equipment market for major countries.

The report includes profiles of major global underground mining equipment industry players. Company profiles include detailed information about these manufacturers' business strategies, product portfolios, recent developments, and regional positioning. The report also provides an in-depth analysis of market competition, the positioning of key market players, and their market-winning strategies.

We have classified underground mining equipment market into the following applications:

  • Coal Mining
  • Metal Mining
  • Mineral Mining

Coal mining is the largest application segment for underground mining equipment. Coal mining equipment accounted for around 40% of the market in the overall coal mining equipment by application. Coal plays a major role in energy production and accounted for 30% of the global energy demand in 2015. The need for coal and coal energy is proliferating, particularly in emerging economies with growing urbanization.

In addition, coal is also used as an energy source in several manufacturing plants. Increasing consumption of Aluminum, copper, gold, and other commodities is also expected to increase metal mining activities worldwide. This represents a positive outlook for underground mining equipment used in metal mining applications. The rising production of motor vehicles and beverages packed in cans is increasing the demand for aluminum. In addition, the rising demand for rare earth minerals is also expected to spurt the demand for underground mining equipment globally.

The global underground mining equipment market is classified into four major regions i.e., North America, Europe, Asia Pacific, and the Rest of the World (RoW). The Rest of the underground mining equipment market is further classified into the Middle East, Africa (MEA), and Latin America.

Regional Analysis

In addition, we have covered major countries in each regional market

The Asia Pacific is accounted for the largest revenue share in the global underground mining equipment market. Growing mining activities, particularly in India, Australia, and China, are increasing the deployment of underground mining machinery and equipment in these countries. Europe and North America have matured markets for underground mining equipment and are expected to witness steady demand from the replacement market with stringent energy consumption and labor safety regulations in these regions. In addition, significant demand for underground equipment is expected from the Middle East, Africa, and Latin America with increasing mining activities in these regions.

The global underground mining equipment market is classified into the following categories:

  • By Mining Method
    • Longwall Extraction
    • Room and Pillar Extraction
  • By Application
    • Coal
    • Metal
    • Minerals
  • By Region
    • North America
      • U.S.
      • Rest of North America
    • Europe
      • U.K.
      • Germany
      • France
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Australasia
      • Rest of Asia Pacific
    • Rest of the World
      • Latin America
      • Middle East and Africa
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Published Date:  Aug 2022
Category:  Mining, Minerals and Metals
Report ID:   58070
Report Format:   PDF
Pages:   160
Rating:    4.6 (72)
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