Mining Equipment Market Will Reach USD 98.50 Billion By 2024, Globally: Zion Market Research – ZMR Blog
Trending News & Updates

Mining Equipment Market Will Reach USD 98.50 Billion By 2024, Globally: Zion Market Research

Zion Market Research has published a new report titled “Mining Equipment Market by Product (Mineral Processing Equipment, Surface Mining Equipment, Mining Drills & Breakers, Underground Mining Equipment, Crushing, Pulverizing, & Screening Equipment, and Others) and by Application (Metal Mining, Mineral Mining, and Coal Mining): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017–2024”. According to the report, the global mining equipment market was valued at approximately USD 70 billion in 2017 and is expected to generate revenue of around USD 98.50 billion by 2024, growing at a CAGR of around 5% between 2018 and 2024.

The growing trend of transitioning to digital mining is the major growth factor in the mining equipment market. Major mining sites are on the verge of adopting automated drones, vehicles; most of these devices use IoT (Internet of Technology) sensors to capture real-time data. For instance, Rio Tinto Group implemented 3D mapping at the West Angelas mining sites to improve mining exploration activities. However, high machinery cost and lack of skilled personnel might hamper this market’s growth in the upcoming years.

Request Free Sample Report of Mining Equipment Market Report @

By product, the mining equipment market is segmented into mineral processing equipment, surface mining equipment, mining drills and breakers, underground mining equipment, crushing, pulverizing, and screening equipment, and others. The surface mining equipment segment is anticipated to hold a major share in the mining equipment market in the upcoming years, due to the high adoption rates of these machines, which is fuelled by the rising demand for extraction of various minerals, such as metallic ore, non-metallic ore, and coal. This equipment supports in cost optimization due to its ability to crush, cut, and load in a single process. Based on application, the mining equipment market is categorized into metal mining, coal mining, and mineral mining. The metal mining segment is estimated to dominate during the forecast time period, due to the increase in resource mining and exploration activities and rise in the demand for base metals, such as platinum, gold, and copper. Coal mining, followed by metal mining, contributed considerably to this market in 2017, due to the coal usage in generating electricity.

Based on geography, Asia Pacific is likely to emerge as the leading regional market during the forecast time period, due to the increasing demand for minerals from emerging economies, such as India and China. Increasing infrastructural developments are anticipated to enhance coal’s demand in this region, as it is one of the most significant raw materials for manufacturing steel and cement. In addition, governmental efforts related to consolidating coal mining companies are projected to open new growth avenues for this market in the upcoming years.

Download Free PDF Report Brochure @

Some of the major players operating in the global mining equipment market are Caterpillar Inc., CNH Industrial NV, Bradken Limited, Sandvik, Komatsu Ltd., Joy Global, AB Volvo, Astec Industries Incorporated, Hitachi Co. Ltd., Hyundai Heavy Industries Company Limited, Metso, Doosan Group, Wirtgen Group Holding GmbH, RCR Tomlinson Limited, Atlas Copco, Techint Group, Bell Equipment Limited, and Liebherr Group, among others.

This report segments the global mining equipment market as follows:

Global Mining Equipment Market: Product Segment Analysis

  • Mineral Processing Equipment
  • Surface Mining Equipment
  • Mining Drills & Breakers
  • Underground Mining Equipment
  • Crushing, Pulverizing, & Screening Equipment
  • Others

Global Mining Equipment Market: Application Segment Analysis

  • Metal Mining
  • Mineral Mining
  • Coal Mining

Global Mining Equipment Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

Inquire more about this report @

About Us:
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

Leave A Reply

Your email address will not be published.