Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Mining is nothing, but the extraction of valuable minerals or any other geological materials from the earth, usually from an ore body, vein, and reef or placer deposit. These extractions form up a mineralized commodity that is of economic interest. Mining is required to extract any material that cannot be grown through any agricultural processes, or artificially created in any laboratory. In other words, mining is just the extraction of any non – renewable resources, like, petroleum, natural gas, etc. The mining industry is a type of industry that requires huge capital investment, out of which, around 75% is for the equipments used for the mining. The mining machinery market compromises various numbers of products or tools, ranging from mining shovels to heavy machines, such as trucks and dragline excavator.
The global mining machinery market is basically driven along with the rapid evolution in the mining processes across the globe, which increases the demand for the mining equipments accordingly. Also, various technological advancements have resulted in the automated solutions for the mining industries, which are easily adopted by the people, making the market to rise with a greater speed. Moreover, the increasing demand for the various metals and commodities by the consumers also supports the market growth of the mining machineries.
The world was hit by a sudden virus which spread across the globe in no – time. This spread of an unusual tiny virus, stopped everything; the governments across the globe enacted lockdowns and travel restrictions in order to control the spread of the disease.
The sudden lockdowns by the governments across the globe made it impossible for the manufacturing and production industries to work. This has hence resulted into the declining of the market for the mining machineries.
The report analyses the mining machinery market based on the type, powertrain type, application, and geography. On the basis of type, the market is classified into surface mining equipment, underground mining equipment, mineral processing equipment, mining drills & breakers, crushing, pulverizing & screening equipment. Based on the powertrain type, the market is classified into IC Engine vehicle, and electric engine.
MINING MACHINERY MARKET BY TYPE
On the basis of the type, the mining machinery market is divided into surface mining equipment, underground mining equipment, mineral processing equipment, mining drills & breakers, crushing, and pulverizing & screening equipment. The surface mining equipment is further divided into articulated dump truck, crawler dozer, and crawler excavator. The underground mining equipment is further classified into hydraulic excavators, mining dozers, and underground haulers. The mineral processing equipment is further divided into portable and stationary equipments.
Based on the type of the powertrain, the mining machinery market is classified into IC engine vehicle, and electric vehicle. The IC engine vehicle is a heat engine in which the combustion of a fuel occurs with an oxidizer in a chamber that is an integral part of the working fluid flow circuit, whereas, the electric vehicle is the one that uses one or more electric motors or traction motors for propulsion.
MINING MACHINERY MARKET BY APPLICATION
On the basis of applications, the filling equipments market is classified into metal mining, mineral mining, and coal mining. The metal mining segment is expected to have dominance share in market due to the increasing demand for the precious metals and increasing hauling of metal deposits.
Geographically, the mining machinery market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and rest of the world regions which includes Latin America, and Middle East &Africa.
The Asia Pacific region is expected to dominate the market, owing to the huge investments and rising infrastructure projects in the various developing countries like, India. Moreover, a great support from the government for the development of mining and exploration has in turn enhanced the opportunities for the manufacturers to grow their mining businesses in that region.
Some of the major players operating in this market include AB Volvo Astec Industries Incorporated,
Atlas Copco AB, Bell Equipment Limited, Boart Longyear Ltd.,Bradken Limited, Catterpillar Inc., China, Coal Energy Company Ltd.., Liebherr Group, Metso Corporation, Techint Groupamong many others.
The report analyses the mining machinery market based on the type, powertrain type, application, and geography. On the basis of type, the market is classified into surface mining equipment. Underground mining equipment, mineral processing equipment, mining drills & breakers, crushing, pulvering & Screening equipment. Based on the powertrain type, the market is classified into IC engine vehicle, and electric engine. The application segment further divided the market as metal mining, mineral mining and coal mining.
Some of the major players operating in the market include AB Volvo Astec Industries Incorporated,
Atlas Copco AB, Bell Equipment Limited, Boart Longyear Ltd.,Bradken Limited, Catterpillar Inc., China, Coal Energy Company Ltd.., Liebherr Group, Metso Corporation, Techint Group, among many others.
Geographically, the security camera market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and rest of the world regions which includes Latin America, and Middle East & Africa.
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