Underground Mining Equipment Replacing its Indigenous Counterparts Fast

San Francisco, California, April 16, 2018: Growing industrialization and rapid urbanizations are two key factors attributable to the growth witnessed in the global underground mining equipment market. A new report by TMR Research, titled “Underground Mining Equipment Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025,” provides in-depth market intelligence for the benefit of stakeholders. It compiles information on customers as well as trends prevalent among prominent competitors. Information thus compiled in the report is intended at providing a comprehensive overview of the global underground mining equipment market.

Considering the prevalence of lucrative prospects, mining companies are willingly spending on advanced equipment for improved productivity. This, coupled with stringent regulations aimed at reducing fuel consumptions for curbing greenhouse effects and strengthening labor safety norms will compel mining enterprises to replace indigenous equipment with state-of-the-art technologies. As a consequence to this, growth prospects for the underground mining equipment market will get bolstered.

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An underground mining equipment is extensively used to excavate hard minerals, which may contain copper, iron, lead, nickel, gold, silver, zinc, or tin. It is also used to derive minerals from ores of precious stones such as diamonds. Given the applications that an underground mining equipment is put to use, it demand is expected to rise significantly in the coming years. Furthermore, an increasing number of mining companies are looking to employ more feasible methods of extracting minerals. They are also factoring in various operational and non-operational criteria in order to achieve economic viability. Spurred by this, the global underground mining equipment market will exhibit strong growth in the forthcoming years.

Some of the leading companies operating in the global underground mining equipment market are Joy Global Inc., Sandvik AB, Volvo AB, Komatsu Ltd, Metso Corporation, Kennametal, Inc., Hitachi Construction Machinery Co. Ltd., Caterpillar Inc., Boart Longyear Ltd., and Thyssenkrupp AG.

Underground Mining Equipment Market : Helps in understanding the various driving factors 2025

Global Underground Mining Equipment Market: Snapshot 

Rising urbanization and growing industrialization in most parts of the world is leading to an increasing demand for metals and minerals. This is motivating mining enterprises to invest in advanced equipment for improved efficiency and productivity. Moreover, stringent regulations for reducing fuel consumption, curbing greenhouse gas effects, and labor safety norms are compelling mining enterprises to replace conventional equipment with state-of-the-art energy efficient solutions.

Underground mining equipment is used to excavate hard minerals, which mainly contain metals such as iron, copper, nickel, lead, tin, silver, gold, and zinc, along with ores of precious stones such as diamond. To facilitate the mining of minerals beneath the earth’s surface, miners construct underground chambers to carry out the work. The mining company employs best feasible methodologies for extracting the minerals factoring in operational and non-operational parameters and the economic viability of the operation.

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Underground mining employs different types of equipment for different stages. For instance, material handling activities such as loading and hauling of excavated ore employ slushers, front-end loaders, Load-Haul-Dump units, gathering-arm loaders, overhead loaders, and rubber-tired shuttle cars and trucks. This also employs transportation by rail, conveyor, and gravity flow.  Typically, in mineral mining operations, ores are loaded into underground equipment and conveyed to ore passes, where the ore is dumped. A chute is usually present at the lower level opening of the pass, where the ore is loaded and is carried either to the underground bins or is directly carried to the main haulage level.

Some other equipment that is used in underground mining operations include boomheaders, continuous miners and shearers, and coal cutters.

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Global Underground Mining Equipment Market: Overview

Underground mining entails extracting metals, minerals, and ores such as iron ore, bauxite, titanium, and copper, and various non-metallic products from beneath the earth’s surface. The mining methods deployed for underground extraction are chosen after factoring in geographical conditions, spatial and geometric characteristics, the value of the ore, possible operational costs, and most important – the availability of raw materials.

Based on application, the global underground mining equipment market can be segmented into mineral mining, coal mining, and metal mining. Among them, the coal mining sector has been grossing maximum revenue and in the near future too will continue raking in robust revenue on the back of the energy industry driving demand. By type, the global underground mining equipment market can be segmented into room and pillar and longwall.

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A report by TMR Research report presents a comprehensive evaluation of the market. It furnishes in-depth qualitative insights and leverages historical data to make projections about market size. To do so, it has used proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market. The report also lists leading players in the market and leverages popular analytical tools to gauge the current competitive dynamics.

Global Underground Mining Equipment Market: Drivers and Trends

The swift-pace of urbanization and rapid industrialization worldwide has majorly contributed to the global underground mining equipment market. This is because both require massive amounts of energy which has upped the need for coal needed for power generation. This has, in turn, boosted demand for underground mining equipment needed to extract coal. In fact, maximum demand for underground equipment is generated by the coal sector.

Further, better living standards and higher spending capacity of people has led to increased sales of gold, aluminum, and copper, among other commodities. This has helped augment demand for underground mining equipment used for mining metals. A recent noticeable trend in the global underground equipment market is the immense thrust on developing advanced and more effective mining equipment for transportation, excavation, washing, and screening processes that helps to keep energy costs at bay. This has led to savvy companies rapidly supplanting outdated machinery with energy efficient ones for better profit margins.

Global Underground Mining Equipment Market: Regional Outlook

Based on geography, the key segments of the global underground mining equipment market are Asia Pacific, Europe, North America, and the Rest of the World. At present, Asia Pacific dominates the global market with a leading share because of the increasing mining activities in the emerging economies of China, Australia, and India. In fact, China’s insatiable demand for coal to a great extent shapes the competitive dynamics in the market.

Besides Asia Pacific, North America is another key market. The rising number of mining sites, especially of coal has brought about high demand of specialized mining equipment in the region. Additionally, government regulations pertaining to mining safety, employment, environment, and equipment usage have also stoked demand for technologically improved underground mining equipment. Midwest in the U.S. is a major contributor to the region’s revenue. The Middle East and Africa are also considered important contributors.

Companies Mentioned in Report

To present a detailed assessment of the competition prevailing in the global underground mining equipment market, the report profiles important companies such as Sandvik AB, Komatsu Ltd, Volvo AB, Caterpillar Inc., Joy Global Inc., Hitachi Construction Machinery Co. Ltd., Boart Longyear Ltd., Kennametal, Inc., Metso Corporation, and Thyssenkrupp AG.

Demand for Underground Mining Equipment Highest in Coal Mining Sector

San Francisco, California, May 02, 2017: A report by TMR Research, titled, “Underground Mining Equipment Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017– 2025,” sheds light on important aspects of the market. It factors in current and historical data to calculate the market size and also presents a qualitative analysis of the growth drivers and restraints to gauge the trajectory of the market.

The underground mining equipment market has received maximum boost so far from the rapid pace of urbanization and industrialization worldwide. This has spiked demand for metals and minerals. Another factor stoking growth in the market is the rising thrust on deploying latest cutting-edge equipment that help improve efficiency and productivity. Besides, strict norms pertaining to reduction of fuel consumption to bring down greenhouse gases emission and labor safety has also been egging mining companies to supplant conventional equipment with advanced energy efficient solutions. Rising fortunes of people worldwide stoking demand for gold, aluminum, copper, and other commodities has been driving demand too.

There are different types of underground mining equipment deployed in various stages. For instance, slushers, overhead loaders, front-end loaders, gathering-arm loaders, Load-Haul-Dump units, and rubber-tired shuttle cars and trucks are mainly used in material handling which entails loading and hauling of excavated ore. The process also entails transportation by rail, conveyor, and gravity flow.

Depending upon application, the global market for underground mining equipment can be segregated into metal mining, mineral mining, and coal mining. Of them, the coal mining segment has been contributing the most to the overall revenue in the market and going forward too will continue doing so on account of robust demand from the energy industry. Depending upon type, the market can be classified into room and pillar and longwall.

Geographically, Europe, Asia Pacific, North America, and the Rest of the World are the key segments of the global market for underground mining equipment. Asia Pacific, among them, leads the market with a dominant share owing to the massive upswing in mining activities in China, Australia, and India. In fact, China’s unending thirst for coal on account of burgeoning industrialization is playing a crucial role in the global underground mining equipment market.

North America is another major market because of the growing number of mining sites, particularly for coal that has driven up demand for specialized mining equipment manifold in the region. Furthermore, regulations by government relating to environment, mining safety, employment, and equipment usage have also generated demand for advanced underground mining equipment.

To gauge the competition prevailing in the global market for underground mining equipment, the report Caterpillar Inc., Sandvik AB, Boart Longyear Ltd., Komatsu Ltd, Volvo AB, Joy Global Inc., Metso Corporation, Hitachi Construction Machinery Co. Ltd., Kennametal, Inc., and Thyssenkrupp AG.