The global underground mining equipment market is expected to rise with an impressive CAGR and generate the highest revenue by 2026. Fortune Business Insights™ in its latest report published this information. The report is titled “Underground Mining Equipment Market Size, Share & Industry Analysis, By Equipment Type(Loaders, Trucks, Diggers, Others (Feeder Breakers, etc.)), By Application (Room and pillar mining, Borehole mining, Longwall mining, Others) and Regional Forecast, 2020-2027”. The report discusses research objectives, research scope, methodology, timeline and challenges during the entire forecast period. It also offers an exclusive insight into various details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies.
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The report provides a 360-degree overview of the market, listing various factors restricting, propelling, and obstructing the market in the forecast duration. The report also provides additional information such as interesting insights, key industry developments, detailed segmentation of the market, list of prominent players operating in the market, and other underground mining equipment market trends. The report is available for sale on the company website.
Key players operating in the global underground mining equipment market are
- AB Volvo
- Komatsu Ltd.
- Atlas Copco AB
- Hitachi Construction Machinery Co, Ltd.
- Boart Longyear
- AARD Mining Equipment
- ZHENGZHOU COAL MINING MACHINERY (GROUP) CO., LTD
- Epiroc South Africa (Pty) Ltd
- Hitachi Construction Machinery Co., Ltd.,
- Sandvik AB
The manufacturers are focusing on technoogical advancements including, GPS sensing, Internet of Things (IoT), 3D imagenery in underground mining equioment to observe real-time monitoring and collecting underground data of large mines having lesser accessibility. For instance, in March 2020, Sandvik AB introduced ‘Intelligent Automine system’ for unmanned truck haulage that reduces equipment damage and emphasizes on higher efficiency to underground mine operations. Moreover, manufacturers are turning to hybrid and battery driven-electric underground mining equipment to capture the global market. Furthermore, the companies are obeying Mine Safe and Health Administration’s (MSHA) Regulations to carry out underground mining operations in coal, mineral and metal mines.
Underground mining equipment market is anticipated to witness substantial growth, owing to the accelerated demand from several industries in developing economies such as India, Malaysia, Turkey, Vietnam, Brazil and others. Additionally, the increased rental services in mining industry is also driving the market growth.
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Regional Analysis for Underground Mining Equipment Market:
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Major Table of Contents for Underground Mining Equipment Market:
- Executive Summary
- Market Dynamics
- Key Underground Mining Equipment Market Insights
- Global Market Analysis, Insights and Forecast, 2015-2026
- North America Market Analysis, Insights and Forecast, 2015-2026
- Europe Market Analysis, Insights and Forecast, 2015-2026
- Asia Pacific Market Analysis, Insights and Forecast, 2015-2026
- The Middle East and Africa Market Analysis, Insights and Forecast, 2015-2026
- Latin America Market Analysis, Insights and Forecast, 2015-2026
- Competitive Landscape
- Global Underground Mining Equipment Market Revenue Share Analysis, By Key Players, 2020
- Company Profiles
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