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.
In 2019, the global Underground Mining Equipment market size was US$ 19840 million and it is expected to reach US$ 31610 million by the end of 2027, with a CAGR of 6% during 2021-2027.
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The major companies include:
- Caterpillar
- Komatsu (Joy Global)
- Volvo
- Hitachi Construction Machinery
- Sandvik
- Atlas Copco
- Metso
- ThyssenKrupp
- Liebherr-International
- ZMJ
Segment by Type, the Underground Mining Equipment market is segmented into
- Venting
- Hard Rock Equipment
- Longwall Systems
- Room & Pillar, Entry Development
- Tunneling Equipment
- Crushing & Conveying
Segment by Application, the Underground Mining Equipment market is segmented into
- Coal Mining
- Metal Mining
- Mineral Mining
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Scope of the Report
The research study analyzes the global Underground Mining Equipment industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:
Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
Geographic Coverage
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume
Key Questions Answered by Underground Mining Equipment Market Report
1. What was the Underground Mining Equipment Market size in 2018 and 2019; what are the estimated growth trends and market forecast (2021-2027).
- What will be the CAGR of Underground Mining Equipment Market during the forecast period (2021-2027)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2018? How these segments are expected to grow during the forecast period (2021-2027).
4. Which manufacturer/vendor/players in the Underground Mining Equipment Market was the market leader in 2018?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
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