The Global Underground Mining Equipment Market Growth 2019-2024 is a research report available at DecisionDatabases.com.
Underground Mining Equipment is the mining equipment used in the underground. Underground mining is a technique used to access ores and valuable minerals in the ground by digging into the ground to extract them.
Underground mining involves mineral production by extracting natural resources such as metals, coal, and minerals, including iron ore, titanium, bauxite, and copper, and various non-metallic products from beneath the earth’s surface. The mining methods required for underground extraction are selected based on parameters such as geographical conditions, spatial and geometric characteristics, the economic value of ore, estimated operational costs, and availability of raw materials. Globally, APAC region generates the highest consumption value, followed by the North America, Europe, South America and Africa. The growing mining activities in developing countries of APAC such as China, India, and Australia, are the major factors influencing the growth of the market. Also, the growing demand from coal industry will drive the underground mining equipment market.
According to this study, over the next five years the Underground Mining Equipment market will register a 6.9% CAGR in terms of revenue, the global market size will reach US$ 24100 million by 2024, from US$ 17300 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Underground Mining Equipment business, shared in Chapter 3.
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The key manufacturers covered in this report:
- Komatsu (Joy Global)
- Hitachi Construction Machinery
- Atlas Copco
- Doosan Infracore
- China Coal Group
Segmentation by product type:
- Room and Pillar
Segmentation by application:
- Coal Mining
- Metal Mining
- Mineral Mining
This report also splits the market by region:
- United States
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- To study and analyze the global Underground Mining Equipment consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
- To understand the structure of Underground Mining Equipment market by identifying its various subsegments.
- Focuses on the key global Underground Mining Equipment manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
- To analyze the Underground Mining Equipment with respect to individual growth trends, future prospects, and their contribution to the total market.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- To project the consumption of Underground Mining Equipment submarkets, with respect to key regions (along with their respective key countries).
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
- To strategically profile the key players and comprehensively analyze their growth strategies.
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