[150 Pages Report] The Global Mining Dozer Market is expected to grow at a CAGR of 8.9% during the forecasting period ( 2022 -2029).
By Mining Type, By Product Type and By Region
Report Insights Covered
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.
Fastest Growing Region
Largest Market Share
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Rising mining activities in the world are propelling the usage of mining dozers in the world. Mining dozers remove unwanted materials such as loose earth, soil, and other related articles from the site, obstructing the mining process.
Increase in Demand for minerals and metals
Minerals and metals form the backbone of the entire infrastructure sector. They are an essential component in the Construction and Power industries. Growth in the sector has increased demand for raw materials in this region, thereby increasing mining activities. Also, the material standard of living is growing, which, in turn, is boosting the Mining industry. Thus, the demand for mining equipment is expected to rise during the forecast period.
According to research done by Stephen Kesler, assuming a total of 9 billion as the global population by 2050, the demand for minerals will increase by 25%, which is a significant increase.
In May 2019, The International Energy Agency predicted that over 125 million electric vehicles will be on road by 2050, which is approximately a 1300% increase compared to present figures. This implies that there will be an increase in demand for minerals such as copper, manganese, aluminum, which will boost the mining dozer markets
Product innovations in the mining dozer market will boost its growth
Mining companies always look for ways to maximize the efficiency of their work. The support machines used in mining industries, the mining dozers, provide versatility and mobility along with tremendous strength to handle heavy loads. Therefore, identifying and using the optimal equipment for a mining company is critical to its success.
Over the years, there have been many innovations being made in the crawler mining dozers and wheel dozers. For example, Komatsu’s recently produced “intelligent dozer”, the D39i-24, uses innovative Intelligent machine control, programs 3D Design data directly into the machine. Due to the sophisticated technology in this machine, even an inexperienced operator can operate the dozer.
The Cat heavy duty extended life (HDXL) undercarriage system with DuraLink is field-proven to deliver 20 to 40 percent longer wear life in low to medium-abrasion, moderate- to high-impact applications such as hard rock, landfill and forestry.
Restraining factors involve life-threatening risks that come with mining activities and the opposition of mining activities by local communities due to its harmful environmental effects.
COVID-19 pandemic has had a significant and lasting impact on the mining industry, as it has had on the entire world economy. But on the whole, the mining industry has been quick and efficient in responding to the pandemic by prioritizing the physical and financial health of workers and drafting policies, and establishing ground support to long-term economic recovery.
The pandemic has impacted the supply chain distributions and caused disruptions in mining activities, mainly due to delays in manufacturing activities in the industry. But now, due to vaccination drives being organized and executed in many countries, the lockdown restrictions have eased, thus giving the key players in the Mining dozers market the opportunity to continue work again. Moreover, government support through initiatives is expected to facilitate the growth of the mining dozer market.
The global Mining Dozer market is segmented into product type, application, and region.
Global Mining Dozer market segmented by Product Type
The mining dozer market in the product type segment can be classified into Crawler mining dozer and Tire mining dozer. Crawler mining dozers are large-sized machines that come with a blade-like structure attached at the front which helps to move soil, sand, and rubble near a mining site. These are very reliable and durable machines due to their size and ability to push heavy loads and hence are preferred for on-site mining jobs.
Tire mining dozers or Wheel dozers are similar to Crawler mining dozers but provide more versatility in use and come with greater mobility. Wheel dozers help in reducing the amount of money required to be spent for on-site support equipment and require fewer fuel amounts, thus also reducing the overall fuel costs.
Traditionally, Crawler mining dozers are being used at the majority of the mining sites, but the preference of which of the 2 dozers to use is based on the requirements of the job. If the majority of the mining job involves using the blades to push loads, then a crawler dozer should be used, whereas if blades are only going to be used for up to 70% of the job, then a wheel dozer will increase productivity. The sales of crawler dozers and backhoe loaders took up over 68% of the total sales in the construction equipment markets.
Global Mining Dozer market segmented by Application
The mining dozer market segmented by application is categorized into open-pit coal mining, open-pit metal mining, underground coal mining, underground metal mining, and quarry.
Global Mining Dozer market segmented by Region
Based on region, the mining dozer market can be segmented into North America, Europe, South America, Asia-Pacific, and Middle East & Africa.
Geographically, Asia-Pacific has the world's largest coal mining market, accounting for nearly 60% of total output. China, Australia, and India are among the world's top producers of fossil fuels, that are used in a variety of critical activities such as power generation and steel production. As a result, the region requires a high level of mining activity, which drives the demand for mining equipment in the region. Asia-Pacific also holds about 70% of total mining dozer market share.
Australia is expected to lead the Asia-Pacific market on the basis of innovations in mining dozer equipment as 60% of its mining industry is software integrated. The Indian government proposed structural reforms in the mining sector in 2020, containing amendments in order to boost the mining market. The proposed changes aim to increase private sector participation in mineral exploration, define illegal mining, eliminate the distinction between captive and non-captive mines, and resolve legal issues.
These statistics and initiatives being implemented are expected to boost the mining dozer market in Asia-Pacific region.
The Global Mining Dozer market is fragmented, with many key players currently owning a significant share of the entire market. The increasing demand for mineral-based commodities is boosting market growth. This has led to increased demand for mining equipment globally. Caterpillar, Komatsu, and Hitachi, Doosan Group are the major vendors in the Global Mining Dozers market.
Due to the increase in demand for minerals and raw materials, the companies are responsible for taking up the initiative of manufacturing more productive and efficient equipment, in order to boost the mining activities.
For example, at the Iron Ore mining site owned by Rio Tinto in Australia, the use of automation in mining activities has resulted in a few advancements. The AHS trucks owned by the company now operate almost 24 hours a day, all year, stopping only for refueling breaks and maintenance.
Caterpillar has designed a heavy-duty extended life (HDXL) undercarriage system that is compatible with fixed roller and undercarriage dozers in their own models. The HDXL ensures extended durability and plays a huge role in lowering the fixed roller dozers undercarriage costs.
Company Profile: Caterpillar
Overview: Caterpillar is the world’s leading producer of mining and construction equipment, diesel, natural gas engines, industrial gas turbines, and diesel-engine locomotives. It was founded on 15th April 1925.
Product Portfolio: With respect to the mining industry, Caterpillar is focused on manufacturing mining dozers, rotary drills, motor graders, mining trucks and hydraulic mining shovels, and a variety of other mining support equipment.
WMining Dozer Markethat is the Projected CAGR value of the Mining Dozer Market?
Functional Pet Food Market is expected to grow at a CAGR of 5% during the forecasting period 2022-2029.
Which region controlled the global market during 2022-2029?
North America region Controls the Mining Dozer Market during 2022-2029.
Which is the fastest growing region in the Mining Dozer Market?
Among all regions, Asia Pacific is the fastest growing market share during the forecast period.
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