The global mining equipment market is expected to see a significant growth through the forecast period with improving economic conditions and rising output of mining sector. The market for mining equipment is also expected to see a significant demand from replacement market due to stringent energy consumptions regulations particularly in developed nations. In addition, rising domestic demand for metal and coal represents a positive outlook for mining equipment particularly in emerging economies such as India, China and others. All these factors are expected to spur the demand for mining equipment in the next six years.

The study provides in-depth analysis of market influencing and inhibiting factors related to mining equipment industry. The report also includes current and future market trends in the global as well as regional market. This study provides exhaustive information of product development, pricing and demand supply trends. The study also includes high level analysis such as market attractive analysis, competitive analysis and PESTEL analysis to identify key investment areas in this market.

In addition, the provide market estimates and forecast of different type of mining equipment in terms of both volume (number of units sold) and revenue (US$ Bn). This market is segmented on the basis of product type, application and region. The study also includes cross sectional analysis on the regional basis i.e. regional market size by product and application. This study includes market estimates (2013 & 2014) and forecast for the period 2015 – 2023 in terms of volume and revenue. The report also includes market estimates and forecast of mining equipment market for major countries.

The report profiles key mining equipment manufacturers in the global market. These profiles include detailed information about product portfolio, business strategies, recent developments and regional positioning of these manufacturers. The report also provides in-depth analysis about market competition and positioning of key market players along with their market winning strategies.

Surface mining equipment accounted for the largest revenue share in 2014. The demand for multifunctional surface mining equipment is growing steadily as this machinery reduces need of buying supplementary machine such as crushing, excavators and others. Rising demand mining activities along with increasing demand for sophisticated mining machinery is expected to spur the demand for surface mining equipment particularly from developing nations. Underground mining equipment are also expected to see the significant growth through the forecast period with stringent government regulations to improve mining safety. These mandatory regulations are forcing mining companies to deploy these practices at mining facilities. This is increasing the demand for underground mining equipment across the globe. Improving economic conditions and rising number of mining projects represents a positive outlook for crushing, pulverizing and screening equipment.

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

Asia Pacific is the largest regional market and accounted for more than half of the revenue share in the global mining equipment market. China is the largest individual market for mining equipment. Rising demand for minerals and metals is expected to spur the demand for mining equipment in China throughout the forecast period. Increasing output of construction and manufacturing industries along with government efforts to improve safety at mining and mechanization of mining activities China is expected to see a moderate demand for mining equipment in the next six years. Increasing investment in metal and coal mining from developing countries in Asia Pacific, South America, Africa and Eastern Europe are expected to drive the market growth in near future. India is expected to see the fastest growth for mining equipment with growing metal and coal mining industries in the country. The demand for mining equipment is expected to increase at modest rate in North America and Western Europe with improving economic conditions and rebound in construction industry in these regions. The U.S., UK, China and other several other countries have introduced mandatory regulation to reduce coal consumption for electricity production and rapidly shifting towards solar, hydro, nuclear and wind technologies for the same.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Mining Equipment market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Mining Equipment market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Mining Equipment market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Mining Equipment market?
• Which is the largest regional market for Mining Equipment market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Mining Equipment market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Mining Equipment market worldwide?