SKU: DPC371 | Last Updated On: 2019-07-24 | No. of Pages: 201 | Available Formats
SKU: DPC371 | Published On: 2019-07-24 | No. of Pages: 201 | Available Formats
The global mining equipment market is estimated to cross USD 110 billion by 2026, growing at a CAGR of 5.78% during 2019 – 2026. Stability in the mining investments and increasing coal production are expected to propel the market for mining equipment considerably over the coming three years.
Mining customers have been found to increase their capital spending to support the growing mining operations. Strengthened balance sheets and increased cash flows would allow gold miners to increase their production further. Higher metal prices and reduced production costs would aid this investment trend further. The mining sector has also witnessed a considerable increase in the stakeholder confidence to drive the market towards the “Golden 2011 levels”. Very high capital discipline and progressive, long-term expectations from the investors would drive the global mining industry further. Furthermore, replenishing portfolio and large-scale merger & acquisitions would allow higher resource allocation for increasing global mining production. China, Brazil, Australia, and South Africa mining hubs are anticipated to play a vital role in the structuring of the mining industry over the next five years.
Stability in commodity prices has been one major factor impacting the market for mining equipment. Though the price outlook seemed to streamline over the past eighteen months, an unexpected weakening of the global economy would drive the commodity value down, and in turn, place the mining sector in a dicey situation. Unpredictable demand for integrated systems being and declining preference for discrete equipment was visible among mining companies since 2018.
The surge in mining equipment orders hasn’t yet accounted to a reduction in the overaged fleet. Mining operators have been holding on to their fleet replacement strategy for the electrification and automation trends to become more streamlined. Improved aftermarket service by manufacturers, expired less-profitable contracts, and growing demand for higher-valued electric vehicles are expected to play a vital role in the equipment fleet over the coming five years.
Optimizing the mining production and improving efficiency has been the primary concern for miners. Operation management systems are starting to gain popularity with players like ABB, collaborating with Boliden AB and ArcelorMittal Mining Canada to develop state of the art OMS (ABB Ability Operations Management System). Efficiency improvement through electric components and advanced lubricants is found in areas of heavy usage and significant projects. ExxonMobil is currently working on its Mobil SHC Elite series synthetic lubricants, which (the company claims) will improve equipment resistance to oxidation and deposit formation at higher operating temperatures. Mobil SHC demonstrated a 3.6% improvement in efficiency under controlled lab conditions when compared to conventional reference oils in gear applications.
Mining companies have been found to incline more towards the following trends.
The following are the factors that are expected to impact the market for global mining equipment through 2026
The global mining equipment market has been segmented by equipment category (surface mining equipment, mineral processing equipment, drillers & breakers, crushing, pulverizing & screening equipment and underground mining equipment), by end-application (Coal, Metal and Minerals), by propulsion type (Gasoline, Diesel, CNG/LNG) and by geography (North America, Europe, Asia Pacific, Africa & Middle East and South America).
Screening equipment is expected to find immediate adoption among the expansion strategies, making them retain their dominating market share among the mining equipment by category. High demand for automatic power crushers is expected to continue over the through 2022. With stringent emission regulations in place, demand for alternate fuel machinery is expected in the developed nations. Companies are now slowly moving towards mission electric, by replacing conventional motors with efficient electric counterparts. CNG/ LNG and electric machinery are also gaining traction from the buyers of developed countries, owing to their lower operational costs.
By Application, Metal mining equipment market is expected to grow at a faster pace during the forecast period. Mineral extraction and demand for related machinery would gain momentum. However, the growing demand for coal would make coal mining the second largest application for the global mining equipment market.
Asia Pacific mining equipment market share continued to dominate the global market, with India and China emerging as major mining hubs over the past six years. Identification of new mining sites by CMPDI and subsequent efforts to improve coal production in the country would continue the demand for the equipment in the country. Queensland government’s nod for the open cut mine near Great Barrier Reef in Galilee Basin, which allows the production of 60 million tons of coal is expected to create high demand for mining equipment in Australia. Further, global mining players showing signs of improving their presence in Asian markets through China is likely to continue through 2021, driving the market in the country.
Gold and Diamond mining in South Africa declined significantly over the past twelve months. Gold mining witnessed a 24% decline while that of diamonds was 30%. However, on the bright side, coal production increased by over 8%, keeping the demand for the equipment from the country, if not high, stable. Swaziland, Tanzania, Mozambique, and Botswana also showed signs of improving coal production, in turn driving the demand for mining machinery in the Africa & Middle East region.
BelAZ, J.C. Bamford Excavators Limited, Komatsu Ltd. Caterpillar Inc. Epiroc AB, Liebherr Group, Guangxi LiuGong Machinery Co., Ltd, Metso Oyj, Sepro Mineral Systems Corp., Volvo Construction Equipment, Sandvik AB, Hitachi Construction Machinery Co. Ltd, Terex Corporation, Atlas Copco, Sany Heavy Industry Co. Ltd, Doosan Equipment, Zoomlion and Deere & Company are some of the notable mining equipment manufacturers analyzed for the study.
The following are some of the significant developments across mining companies.
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Visualize the composition of Global Mining Equipment market across each equipment type, application, and propulsion type, highlighting the critical commercial assets and players.
Identify commercial opportunities in the mining equipment market by analyzing trends and co-development deals.
Excel data sheet with thousands of data points of the market – level 4/5 segmentation
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
Product mapping in excel for critical Mining Machinery of all major market players.
Raw Material & Equipment Suppliers/ Buyers
Service Providers/ Buyers
Industry Investors/Investment Bankers
Education & Research Institutes
1.1 Research Methodology
1.2 Scope of the Report
3.2 Recent Developments
4.4 Porters Five Force Framework
4.5 Value Chain Analysis
5.2 Surface Mining Equipment
5.2.1 Dump Truck
220.127.116.11 Articulated Dump Truck
18.104.22.168 Rigid Dump Truck
5.2.2 Crawler Excavator
5.2.3 Crawler Dozer
5.2.4 Motor Grader
5.3 Mineral Processing Equipment
5.4 Drillers & Breakers
5.5 Crushing, Pulverizing and Screening Equipment
5.6 Underground Mining Equipment
5.6.1 Wheeled Loaders
5.6.2 Mining Trucks
5.6.3 Hydraulic Excavators
5.6.4 Mining Dozers
7.4 CNG/ LNG
8.2 North America
8.2.2 United States
8.2.5 Rest of North America
8.3.5 United Kingdom
8.3.7 Rest of Europe
8.4 Asia Pacific
8.4.6 Rest of Asia Pacific
8.5 Africa & Middle East
8.5.2 South Africa
8.5.3 Saudi Arabia
8.5.4 Rest of Africa & Middle East
8.6. South America
8.6.4. Rest of South America
9.2. Market Share Analysis
9.3. Recent Developments
9.4. Capital Activites
10.2. J.C. Bamford Excavators Limited
10.3. Komatsu Ltd
10.4. Caterpillar Inc.
10.5. Epiroc AB
10.6. Liebherr Group
10.7. Guangxi LiuGong Machinery Co., Ltd
10.8. Metso Oyj
10.9. Sepro Mineral Systems Corp.
10.10. Volvo Construction Equipment
10.11. Sandvik AB
10.12. Hitachi Construction Machinery Co., Ltd
10.13. Terex Corporation
10.14. Atlas Copco
10.15. Sany Heavy Industry Co., Ltd
10.16. Doosan equipment
10.18. Deere & Company
12.2. List of Tables
12.3. List of Figures
12.5. Contact Us