The demand for underground mining equipment market in Asia Pacific is greatly influenced by depleting surface mineral reserves and increasing number of mining activities in countries including China, Australia and India. According to a recent study released by the United Nations Environment Programme (UNEP), China represents the world’s biggest consumer of primary materials including minerals and metal ores. By 2013, China had also become the world’s leading producer of over 20 metals and minerals, including aluminum, coal, cement, iron and steel, graphite, gold, lead, magnesium, rare earths, and zinc. For most other mineral commodities, the country ranks amongst the top three producers. The country’s per capita consumption of minerals and metal ores was also over 150% of the world average in 2015, which was a result of mammoth investment in public infrastructure and manufacturing sector. The metal and mineral resources that have fed this growth have come majorly from domestic underground reserves, thereby indicating rise in underground mining activities in the country.
This market research study includes comprehensive analysis of market drivers and inhibiting factors related to underground mining equipment industry in Asia Pacific. The research report also includes current and future market trends in the Asia Pacific as well as regional underground mining equipment market. The report also includes exhaustive information of 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, impact analysis and attractive analysis helps market players and trade partners across the value chain to identify key opportunities in the industry and formulate their strategies. .
Moreover, the study include provides market estimates and forecast of different type of underground mining equipment and its market size in terms of both volume (number of units sold) and revenue (US$ Bn). The underground equipment market is classified into its equipment type and applications and estimates and forecast is provided for each of this segment. The report also includes cross sectional analysis of major counties in the region i.e. China market size by equipment type and application. This study includes market historical market size (2013 & 2014), market estimate (2015) and forecast for the period 2016 – 2023 in terms of volume and revenue. The report also includes market estimates and forecast of underground mining equipment market for major countries.
The report includes profiles of major players in the Asia Pacific underground mining equipment industry. Company profiles include detailed information about business strategies, product portfolio, 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.
On the basis of application, the Asia Pacific underground mining equipment market is classified into following categories:
Coal mining dominates the underground equipment market in Asia Pacific. The revenue share of the segment stood at 40.5% in the base year 2015. The trend shall prolong as the segment is presumed to hold on to its leading position by 2023. The growth in the segment is expected to be sustained by the regulated demand and consequent rise in coal production.
Coal remains one of the most important sources of energy in Asia. Thus, coal mining is crucial to energy production and safeguard long-term energy security of countries in the region. Increasing coal mining activities in Asia Pacific is a result of growing urbanization and resurgence in the manufacturing sector that uses coal as a source of energy. China, India, and Australia being major coal producers globally are expected to invest significant amount in advanced machinery to increase their production.
Based on equipment type, the underground mining equipment market in Asia Pacific is categorized into following key segments:
In terms of revenue, continuous miner represented the largest product segment in the base year 2015. Mechanization of underground mining, especially in emerging Asia Pacific countries is expected to drive the demand for continuous miners that continuously load ore onto a conveyor while simultaneously extracting ore using a cutting steel drum.
However, LHDs outnumbered every other equipment variant in terms of unit shipments in the same year. Load, Haul and Dump trucks or LHDs that are highly rugged, designed to operate in extreme conditions and are expected to witness strong growth with increase in the number hard rock mines in Asia Pacific. The trend shall prolong as these segments would retain their leading position throughout the forecast period 2016 – 2023. Mining drillers that are requisite to drill a passage through the face of mines so as to facilitate further mining process are expected to witness the fastest growth in unit shipments, growing at a CAGR of 7.4% during the forecast period 2016 – 2023.
China represents the largest underground equipment market in Asia Pacific in terms of both revenue and unit shipments. The revenue and volume share of China stood at 61.7% and 61.6% respectively in the base year 2015. Given a long history of excellence in optimizing the mineral resource extraction with state-of-the-art equipment and implementing stringent environmental and safety regulations, Australia finds itself as one of the global leaders in sustainable underground mining. For instance, Cadia East Gold Mine, the largest underground mine in Australia has been opened for operation recently (2014). Thus, Australia’s mining sector is well developed with strong adoption of state-of-the-art equipment, large mineral reserves, and skilled personnel. The contribution of India in the Asia Pacific underground mining equipment has been inconsistent in the past few years. This is majorly due to inadequate infrastructure facilities and very low inflow of FDI in the mining sector. As a result, the potential of underground mining in the country is yet to be fully exploited.
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 Asia Pacific Underground Mining Equipment market are as follows:
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.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Equipment Type
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Application
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
