Mining Technology & Minerals Market Research News

Mining Equipment Market forecast to 2025 made possible by top research firm

Mining and Natural Resources

Increase in demand for metals and minerals, upcoming emission regulations, increase in development of electric and autonomous mining are the major reasons for the market growth. Mining Equipment Market by Category (Drill & Beaker, Crushing, Pulverizing, Screening, Mineral Processing, Surface & Underground Mining), Electric Equipment (Mining Trucks, LHD), Propulsion, Industry, Autonomous Equipment, and Region - Global Forecast to 2025

The Mining Equipment Market is projected to grow at a CAGR of 5.40 % from 2018 to 2025. From a market size of USD 77.7 billion in 2018, it is projected to reach USD 112.3 billion by 2025.

With the increase in urban population, there is a rising demand for commodities, especially in developing regions. The recent increase in commodity prices has made mining profitable, which is driving the market for mining equipment.

The stringent emission regulations to be implemented in North America, Europe, and Asia Oceania are expected to increase the sales of new mining equipment. All these factors together are projected to drive the demand for mining equipment in the coming years.

Emission regulations to increase the demand for new mining equipment

The stringent emission regulations for off-Highway engines in Europe, North America, and Asia Oceania are expected to increase the demand for new mining equipment during the forecast period. The emission norms in North America and Europe are more stringent compared to Asia Oceania.

Mining equipment manufacturers can utilize their experience in developed regions to provide regulation compliant equipment in Asia Oceania.

Download PDF Brochure @…=128255548

Electric mining equipment: a game changer for underground mining

In underground mining equipment, the fumes generated by diesel engines are harmful to the operators. Electric equipment offers a cleaner environment for the operators as well as reduce the requirement of expensive ventilations with filters.

Electric mining equipment offers up to 80% efficiency compared to 40% of diesel mining equipment. As the mining industry is significantly affected by the margins, the use of electrical equipment is beneficial for miners.

Moreover, the maintenance cost of electrical mining equipment is lower. Therefore, the operating costs associated with mining equipment are reduced further.

In a sluggish market, equipment manufacturers that offer more efficient equipment will have increased demand. With reducing battery costs, more underground equipment is expected to be electrified.

Electric mining equipment is the fastest growing segment of mining equipment. Thus, electrical mining equipment offers a great opportunity for underground equipment manufacturers.

Autonomous mining equipment to grow at a quick pace.

The autonomous mining equipment has been tested since 2008 by players such as Komatsu and Caterpillar in sites such as Gabriela Mistral, Rio Tinto, and Solomon. Mine operators are facing a problem of reaching an optimum balance between the output received, cost incurred, and profit margins by adhering to the government regulations/norms.

As the mining equipment industry is directly affected by the demand and pricing of the mining products, the margins with the operators are quite low. Autonomous mining equipment solves these problems as they can work 24 hours, 7 days a week, reduce human errors, and do not require humans to be present at dangerous locations.

This increases the productivity of miners and improves the safety of their human resources. According to Caterpillar, large fleet of the 227-tonne-capacity (250-ton) trucks have achieved a 20% productivity advantage over standard trucks working in an Australian iron ore mine.

As autonomous mining equipment offers many advantages of normal mining equipment, they are projected to grow at a brisk rate. Major manufacturers can utilize this opportunity to test and deploy more autonomous equipment and increase their market share.

The key market players are Caterpillar (US), Komatsu (Japan), and Sandvik (Sweden). These players can use their expertise in manufacturing electrical mining equipment to provide a wide portfolio of electrical mining equipment for developing countries such as India and China.

This also provides them with a great opportunity to increase their revenue and gain market share by way of expanding further into these countries or through joint ventures and acquisitions of local companies.

Get Detail Insight @…64577.html

News From

MarketsandMarkets™ - Business ResearchMarketsandMarkets™
Category: Market Research Publishers and RetailersCompany about: MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth ...
This email address is being protected from spambots. You need JavaScript enabled to view it.