Press Release

Visiongain Ltd.

Mining Equipment Market Report to 2031

November 16th, 2021 12:00 AM

Visiongain has published a new report on Mining Equipment Market Report to 2031: Forecasts by Equipment Category (Mining Trucks and LHD (Load, Haul, Dump, and Others)), by Type (Surface Mining Equipment, Underground Mining Equipment, Mineral Processing Equipment, Others), by Application (Metal Mining, Coal Mining, and Others), by Powertrain Type (IC Engine Vehicle and Electric Vehicle). PLUS, Profiles of Leading Mining Equipment Manufacturing Companies and Regional and Leading National Market Analysis. PLUS, COVID-19 Recovery Scenarios.

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The market is anticipated to witness positive growth over the forecast period, despite the disruptions created by COVID-19 in the year 2020. The global marine market is expected to recover at a steady pace, details about which has been provided in the report. However, reaching revenue equivalent to the pre-COVID levels will be a challenge in the near-term according to the visiongain’s estimate.

COVID-19 Impact on Mining Equipment Market

COVID-19 negatively impacted the Mining Equipment segment due to implication of nation-wide lockdowns in most of the countries by the government to contain the spread of virus. This in turn brought mining, construction and infrastructure activities to standstill, hence negatively impacting the demand. The mining and construction sector was already facing headwinds due to the global economic slowdown in 2019 and the entry of COVID-19 further worsened the situation. However, the second half of 2020 gave signs of relief with slight resumption in economic activities. The mining equipment market is heading towards recovery, but at a slow pace. Reaching to pre-COVID level volumes will be a challenge in near-term.

Market Drivers

Despite the slump created by COVID-19, there are a few factors anticipated to positively support the growth of the mining equipment market. Globally, the increase in demand for metals and related commodities is anticipated to boost mining and extraction activities, which in turn will boost the market growth. The ongoing digital aspect of mining is also anticipated to bring major transformation in the mining equipment market over the forecast period. Increasing investment, government support and demand for technologically advanced products are anticipated to act as drivers for the growth of the mining equipment market.

Market Opportunities

Significant opportunity exists in the new technology Mining Equipment. Major players compete on technology and cost as key differentiation product to win the market. The transition towards open pit mining from the conventional underground one requires technologically advanced products and offers major opportunities to mining equipment manufacturers to innovate their existing product line-up and launch new products as per the fresh market needs.

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How the Mining Equipment Market report helps you
In summary, our 500+ page report provides you with the following knowledge:

  • Revenue forecasts to 2031 for Mining Equipment Market, with forecasts for Equipment Category, Type, Application, and Powertrain Type, each forecasted at a global and regional level- discover the industry’s prospects, finding the most lucrative places for investments and revenues.
  • Revenue forecasts to 2031 for 5 regional and 20 key national markets – See forecasts for the Mining Equipment market in North America, Europe, Asia-Pacific and Rest of the World. Also forecasted is the market in the US, Canada, Argentina, Brazil, Germany, France, UK, Italy, Spain, China, India, Japan, and Australia among other prominent economies.
  • Prospects for established firms and those seeking to enter the market- including company profiles for 10 of the major companies involved in the Mining Equipment Market.

Competitive Landscape

Some of the company’s profiled in this report include Caterpillar, Volvo Construction Equipment, Komatsu, Sandvik, Liebherr, Hitachi Construction Machinery, Terex, Atlas Copco, Sany, and Doosan. Additional companies’ active in the market includes Equipment North, RTM Equipment, Dakota Equipment Manufacturing, Astec Industries, Schulte Strathaus, Mine Master, Konecranes, XCMG, BEML, and Hyundai Heavy Industries. Players in the mining equipment market are focusing on development of high-performance equipment to meet complex mining needs at an affordable cost.

Find quantitative and qualitative analyses with independent predictions. Receive information that only our report contains, staying informed with this invaluable business intelligence.

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With our newly report title, you are less likely to fall behind in knowledge or miss out on opportunities. See how our work could benefit your research, analyses, and decisions. Visiongain’s study is for everybody needing commercial analyses for the Mining Equipment Market and leading companies. You will find data, trends and predictions.

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About Visiongain

Visiongain is one of the fastest growing and most innovative, independent, market intelligence around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports cover a 10-year forecast, are hundreds of pages long, with in depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets, which currently can influence one another, these markets include automotive, aviation, chemicals, cyber, defense, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customized and syndicated market research reports mean that you can have a bespoke piece of market intelligence customized to your very own business needs.


Catherine Walker
PR at Visiongain Inc.
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