Global Underground Mining Equipment Market 2020-2024

Global Underground Mining Equipment Market 2020-2024

  • January 2020 •
  • 100 pages •
  • Report ID: 3360087 •
  • Format: PDF
Global Underground Mining Equipment Market 2020-2024
The analyst has been monitoring the global underground mining equipment market and it is poised to grow by USD 8.50 bn during 2020-2024, progressing at a CAGR of 6% during the forecast period. Our reports on global underground mining equipment market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by growing demand for cobalt owing to increasing adoption of electric vehicles. In addition, increased application of AI, DL, and ML technologies is anticipated to boost the growth of the global underground mining equipment market as well.

Market Segmentation
The global underground mining equipment market is segmented as below:
Application
• Room and pillar mining
• Longwall mining
• Borehole mining
• Others

Geographic segmentation
• APAC
• Europe
• MEA
• North America
• South America

Key Trends for global underground mining equipment market growth
This study identifies increased application of AI, DL, and ML technologies as the prime reasons driving the global underground mining equipment market growth during the next few years.
Prominent vendors in global underground mining equipment market
We provide a detailed analysis of around 25 vendors operating in the global underground mining equipment market, including some of the vendors such as AARD Mining Equipment (Pty) Ltd., Atlas Copco AB, Boart Longyear Ltd., Caterpillar Inc., Guizhou Sinodrills Equipment Co. Ltd., Hitachi Construction Machinery Co. Ltd., Kennametal Inc., Komatsu Ltd., Sandvik AB, and Sulzer Ltd.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.