Mining Equipment Market A $188.77 Billion Contender By 2025

The report offers detailed analyses of the key player positioning, drivers & opportunities, major market segments, top winning strategies, and competitive landscape. According to the report, the global mining equipment market is expected to reach $188.77 billion by 2025 from $106.85 billion in 2017, registering a CAGR of 7.2% from 2018 to 2025.

Surface mining equipment segment to remain dominant throughout forecast period

Surface mining equipment segment accounted for nearly one-third share of the total market revenue in 2017 and is expected to maintain its lead throughout the forecast period. This is attributed to the significant increase in mining activities across developing countries.

Increasing consumption of metal & mineral commodities and rise in the demand for mineral fertilizers drive the growth of the market. However, skyrocketing prices of raw materials and stringent government rules for mining activities are expected to hinder the market growth.

Metal mining segment to be lucrative through 2025

Metal mining segment held the major market share in 2017, contributing nearly two-fifths of the total revenue. Moreover, it is expected to retain its lion's share throughout the forecast period.

Frontrunners of the industry

The key market players analyzed in the report include AB Volvo, Deere & Company, Caterpillar Inc., Epiroc AB, Doosan Corporation, Komatsu Ltd., Hitachi, Ltd., Metso Corporation, Liebherr-International AG, and Sandvik AB. These players have adopted various strategies including partnerships, expansions, mergers & acquisitions, joint ventures, collaborations, and others to gain a strong position in the industry.