Surface Mining Equipment Market Introduction
Surface mining is more capital intensive as compared to other types of mining such as underground mining which tends to invest more in automation. In mature markets, open pit mining is more prevalent owing to its cost-effectiveness. In surface mining, miners use equipment and machinery to remove a layer of soil, subsoil, and strata to gain access to minerals. Further, open-pit mining and strip mining are some of the types of surface mining. The rise in demand for minerals commodities has increased the need for adoption of enhanced mining equipment to perform mining activities in the hazardous locations. In response to this, prominent players in the market are inclined towards supplying a number of surface mining equipment and machineries such as drills, hammers, and excavators that deliver consistency and performance in every surface mining applications.
Rise in global population especially in middle-class population group is anticipated to increase demand for more mineral commodities in near future. In addition, in long-term, the rate of urbanization is anticipated to increase at a significant pace which is anticipated to increase the investment in infrastructural development at a considerable rate. Furthermore, the introduction of strict government mandates across worldwide and replacement market is anticipated to create significant growth opportunities for prominent players offering surface mining equipment.
The market is segmented based on equipment type. By equipment, the market is bifurcated into wheel loaders, haul trucks, crawler dozers, excavators, crawler drills, articulated trucks, compactors, core drills, fuel lube trucks, blasthole drills, dozers, graders, shovels, and mobile explosive equipment among other. Major regions analyzed in the report include North America, Europe, Asia Pacific, and rest of the world.
Surface Mining Equipment Market Competitive Landscape
Key vendors in the market are inclined towards following environmentally sound policies and emerging technologies to develop equipment that has minimum impact on the environment. Some of the prominent vendor identified in the global surface mining equipment market are Caterpillar, Komatsu, Atlas Copco, Hitachi, Volvo, Ingersoll Rand, Sandvik, BELAZ, BEML, Bryan, Kress, Letourneau, SANY, and Astra.
Major Regions/Countries include:
- Western Europe
- United Kingdom
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific (APAC)
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa (MEA)
- North Africa
- South Africa
- Rest of MEA
This research report on surface mining equipment market would be produced using first-hand market information gathered from industry experts and major participants across the value chain, during primary research. It would provide broad view of current market trends, growth factors and competitive analysis.