The underground mining equipment market will register an annual growth rate of 4.11% in 2022, thanks to the availability of efficient and safe underground mining equipment

NEW YORK, September 9, 2022 /PRNewswire/ — The “Underground Mining Equipment Market – The “Forecast and Analysis 2022-2026” report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proud to partner with over 100 Fortune 500 companies for over 16 years. underground mining equipment market share is expected to increase by $5.93 billion from 2021 to 2026. However, the growth momentum should decelerate at a CAGR of 3.81%. Technavio categorizes the underground mining equipment market as part of the global industrial machinery market. Our research report has extensively covered the external factors influencing the growth potential of the parent market in the coming years, which will determine the growth levels of the Underground Mining Equipment market over the forecast period. For more highlights on parent market analysis – Request a FREE sample now!

Technavio has announced its latest market research report titled Underground Mining Equipment Market by Application and Geography – Forecast and Analysis 2022-2026

Underground Mining Equipment Market – Key Market Dynamics

  • Market Driver – Availability of efficient and safe underground mining equipment is one of the major drivers for the growth of the underground mining equipment market. Mining areas are generally characterized by high intensity noise, vibration and dust. Prolonged exposure to noise and dust has adverse effects on the health of drilling operators. This has led to an increased demand for new machines for mining activities that can improve working conditions in mining areas. Despite the arrival of such products on the market, hearing loss among miners remains one of the most common occupational hazards.

  • Market Challenges – The high cost of underground mining equipment is one of the factors hampering the growth of the underground mining equipment market. The high price of underground mining equipment has made end users prefer renting to buying. Significantly, the cost of acquiring new underground mining equipment is invested in other activities, which helps these companies maintain their market position for an extended period.

To learn more about additional key drivers, trends and challenges- Request a FREE sample report now!

Underground Mining Equipment Market – Segmentation Analysis

The Underground Mining Equipment Market report is segmented by Application (extraction of rooms and pillars, exploitation of longwalls, exploitation of boreholes and others) and Geography (APAC, North America, Europe, South Americaand the Middle East and Africa).

  • Regional Highlights – 55% of the market growth will come from APAC during the forecast period. China, India, and Australia are the major markets for the underground mining equipment market in APAC. Market growth in this region will be faster than market growth in other regions.

  • Revenue Generating Segment – The growth of underground mining equipment market share in the room and pillar extraction segment will be important for revenue generation. Room and pillar mining is generally performed for relatively flat deposits. This type of mining is typically used to extract iron, coal, and base metal ores. Typical machines used in this type of mining are haulers, mining drills, continuous miners, roof bolters and s.coops.

Get a FREE Sample Report for additional information on the contribution of all segments

Underground Mining Equipment Market – Vendor Analysis

The underground mining equipment market is fragmented and sellers are deploying growth strategies such as price and capacity of equipment, technology, innovation and quality to compete in the market.

  • To access more supplier profiles with their key offerings available with Technavio, Click here

The competitive scenario predicted in the Underground Mining Equipment Market report analyzes, evaluates and positions companies based on various performance indicators. Some of the factors taken into account for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, market share growth, etc. your business goals with our Underground Mining Equipment Market Forecast Report – Buy now!

Related reports:

  • The vibrating conveyors market The market share is expected to increase by USD 352.37 million from 2021 to 2026, and the market growth momentum will accelerate at a CAGR of 4.82%.

  • The weeding robots market The market share is expected to increase by USD 269.75 million from 2021 to 2026, and the market growth momentum will accelerate at a CAGR of 18.41%.

Scope of the underground mining equipment market

Report cover

Details

Page number

120

Year of reference

2021

Forecast period

2022-2026

Growth momentum and CAGR

Slowing down to a CAGR of 3.81%

Market Growth 2022-2026

$5.93 billion

Market structure

Fragmented

Annual growth (%)

4.11

Regional analysis

APAC, North America, Europe, South America, Middle East and Africa

Successful market contribution

APAC 55%

Main consumer countries

United States, China, India, Australia, Russia, United States, China, India, Australia and Russia

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

AB Volvo, Atlas Copco AB, Boart Longyear Ltd, Caterpillar Inc., CME Blasting and Mining Equipment Ltd, CMM Cocental SAS, FURUKAWA Co. Ltd, Guizhou Sinodrills Equipment Co. Ltd, Hitachi Construction Machinery Co. Ltd., Kennametal Inc., Komatsu Ltd., Mindrill Systems and Solutions Pvt. Ltd., Resemin SA, REVATHI EQUIPMENT Ltd, ROCKMORE International Inc., Sandvik AB, Schmidt Kranz and Co Gmbh, Sulzer Ltd., TEI Rock Drills and Yantai Jiaxiang Mining Machinery Co Ltd.

Market dynamics

Parent market analysis, market growth drivers and barriers, analysis of fast and slow growing segments, impact of COVID-19 and future consumer dynamics, and analysis of market conditions for the forecast period.

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Main topics covered:

1. Summary

2 Market landscape

3 Market sizing

4 Five forces analysis

5 Market Segmentation by Application

6 Customer Landscape

7 Geographic landscape

8 drivers, challenges and trends

9 Supplier landscape

10 Vendor Analysis

11 Appendix

About Us

Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Manager
USA: +1 844 364 1100
UK: +44 203 893 3200
E-mail:[email protected]
Website: www.technavio.com/

Technavio (PRNewsfoto/Technavio)

Technavio (PRNewsfoto/Technavio)

Quote

Quote

View original content to download multimedia: https://www.prnewswire.com/news-releases/underground-mining-equipment-market-to-record-4-11-yoy-growth-rate-in-2022– driven- by-availability-of-efficient–safe–underground-mining-equipment—technavio-301620156.html

SOURCETechnavio

Bonny J. Streater