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1073136

North America Mining Equipment Market Outlook, 2027

Published: | Bonafide Research & Marketing Pvt. Ltd. | 83 Pages | Delivery time: 1-2 business days

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North America Mining Equipment Market Outlook, 2027
Published: May 4, 2022
Bonafide Research & Marketing Pvt. Ltd.
Content info: 83 Pages
Delivery time: 1-2 business days
  • Description
  • Table of Contents
  • List of Tables

Mining is basically the process of extracting essential materials from the earth. It is done to obtain any resource that cannot be grown or fabricated through artificial processes. These mined materials are utilized to construct hospitals and roads, to build houses and automobiles, to even make satellites and computers, to generate electricity and to provide diverse other services. Mining operators depend on machinery and technology to acquire the desired output, from creating the mine itself to extracting the raw material within. Each type of mining equipment has its own set of mining activities. This equipment can vary depending on whether the mining is carried out above or below the surface. As for North America, rising consumption of base and precious (also rare) metals in several industries propels the demand for mining equipment, especially in developing countries. In addition to that, North America produces a larger portion of the world's coal, iron ore, copper, bauxite, natural gas, petroleum, mercury, nickel, silver, and potash. In 2020, there were more than 12700 active miles in the United States of America alone. The need for new equipment for various mining operations is increasing in North America. It is expected that there will be growth in mining for iron ore, nickel, and bauxite, followed by copper and gold. On the other hand, battery-electric mine trucks are being introduced by major market players in North America. This technology is in an emerging phase, which will boost the market growth for mining equipment across the region.

According to the research report, "North America Mining Equipment Market Outlook, 2027," published by Bonafide Research, the mining equipment market is anticipated to grow at a CAGR of 4.83% for 2022-2027. Due to the implementation of stringent emission regulations by many governments across the region, mining equipment manufacturers are aiming to invest more to develop fuel-efficient, low-emission, and eco-friendly equipment. For instance, in 2019, Caterpillar Inc. launched the R2900 underground loader that follows the government norms. These significant enhancements in efficiency, high investments by OEMs and demands for sustainable products will augment the market growth for mining equipment in North America. Further, the North American mining equipment market is segmented into three major countries, including the USA, Canada, and Mexico. Among these countries, the United States is expected to hold the largest market share during the forecast period. Technological advancements and rising demand for oil sands, coal, and gas are expected to drive the market in the USA. For instance, according to the Environmental Impact Assessment (EIA), the USA produced more than 755 million short tons of coal (majorly from surface mines). Also, in 2020, there were more than 1,000 active coal mines in the USA. However, the mining sector in Canada is one of the largest industries in the globe. Canada produces more than 60 metals and minerals.

According to the report, the North American mining equipment market is segmented into four major types of categories, including crushing, pulverizing & screening, mineral processing, surface mining, and underground mining. Among these types, the underground mining category is estimated to lead the market with more than 35% during the forecast period. Equipment used in this category includes mining loaders, mining locomotives, personal carriers, utility vehicles, ore transporters, and self-propelled or stationary vehicles. Underground mining has become a viable option for autonomous and electrified vehicles in the North American region. On the other hand, the mineral processing category is rising with a higher amount of CAGR during the forecast period. Based on the application, the North American market is segmented into three types: mineral mining, metal mining, and coal mining. Due to increasing demand for essential components by various industries, mineral mining and metal mining are anticipated to acquire more than 80% of the total market by 2027. The North American mining equipment market is segregated into three types of power output, which are: less than 500 HP, 500-2000 HP, and more than 2000 HP. Among these types, the 500-2000 HP segment is projected to lead the market, followed by the less than 500 HP power output.

Impact of Covid-19 on North America Mining Equipment Market:

The COVID-19 outbreak and the subsequent shutdowns have not affected the North America region to a greater extent as the daily operations in the mining sector were performed with a lower labor force. However, due to a temporary halt on production units, the supply chain was disrupted and market growth was impacted by that. In the initial phase of the pandemic, sales of mining equipment declined. Though, changes in consumer preference and increasing consumption of valuable minerals across the region are some of the responsible factors for the higher momentum of this industry. Also, the penetration of advanced and automated technologies in this industry will propel the market growth across the region.

Major Companies present in the market:

Sandvik AB, Caterpillar Inc., Komastu Limited, Volvo Group, Liebherr Group, Hitachi Construction Machinery Co., Limited, EpirocAb, Sany Heavy Equipment International Holdings Company Limited, Doosan Infracore Co. Limited, Guangxi Liugong Machinery Co., Ltd., Kobelco Construction Machinery Co., Ltd., Sumitomo Heavy Industries, Xuzhou Construction Machinery Group (XCMG), Bharat Earth Movers Limited, J C Bamford Excavators Limited, Wirtgen Group, Mine Master Ltd, FIORI GROUP S.p.A., JSC, WackerNeuson Group, Equipment North Inc., RTM Equipment, Astec Industries, Inc., BELL Equipment, AARD Mining Equipment

Considered in this report

  • Geography: North America
  • Historic Year: 2016
  • Base year: 2021
  • Estimated year: 2022
  • Forecast year: 2027

Aspects covered in this report

  • North America Mining Equipment market with its value and forecast along with its segments
  • Country wise market analysis
  • Various drivers and challenges
  • On-going trends and developments
  • Top profiled companies
  • Strategic recommendation

Countries covered in the report

  • United States
  • Canada
  • Mexico

By Category of Mining Equipment in the report:

  • Crushing, pulverizing, screening machinery
  • Mineral processing machinery
  • Surface mining machinery
  • Underground mining machinery

By Application in the report:

  • Mineral Mining
  • Metal Mining
  • Coal Mining

By Propulsion in the report:

  • Diesel
  • CNG/LNG/RNG

By Power Output in the report:

  • Below 500 HP
  • 500 to 2,000 HP
  • Above 2,000 HP

The approach of the report:

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning. Post this we have started doing primary calls to industry people by equally segmenting in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry manufactures, consultants, Key vendors related to mining equipment industry. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

Product Code: 220469902

Table of Contents

1. Executive Summary

2. Report Methodology

3. Market Structure

  • 3.1. Market Considerate
  • 3.2. Market Definition

4. Economic /Demographic Snapshot

5. Global Mining Equipment Market Outlook

  • 5.1. Market Size by Value
  • 5.2. Market Share
    • 5.2.1. By Region
    • 5.2.2. By Country
    • 5.2.3. By Company
    • 5.2.4. By Application
    • 5.2.5. By Category
    • 5.2.6. By Power Output
    • 5.2.7. By Propulsion

6. North America Mining Equipment Market Outlook

  • 6.1. Market Size by Value
  • 6.2. Market Share
    • 6.2.1. By Country
    • 6.2.2. By Application
    • 6.2.3. By Category
    • 6.2.4. By Power Output
  • 6.3. US Mining Equipment Market Outlook
    • 6.3.1. Market Size ByValue
    • 6.3.2. Market Share
  • 6.4. Canada Mining Equipment Market Outlook
    • 6.4.1. Market Size by Value
    • 6.4.2. Market Share
  • 6.5. Mexico Mining Equipment Market Outlook
    • 6.5.1. Market Size by Value
    • 6.5.2. Market Share

7. Market Dynamics

  • 7.1. Market Drivers
  • 7.2. Market Drivers

8. Market Trends and Developments

  • 8.1. XXXXXX
  • 8.2. XXXXXX
  • 8.3. XXXXXX
  • 8.4. XXXXXX
  • 8.5. XXXXXX

9. Company Profiles

  • 9.1. Sandvik AB
  • 9.2. Caterpillar Inc.
  • 9.3. Komastu Limited
  • 9.4. Volvo Group
  • 9.5. Liebherr Group
  • 9.6. Hitachi Construction Machinery Co., Limited
  • 9.7. Epiroc AB
  • 9.8. Sany Heavy Equipment International Holdings Company Limited
  • 9.9. Doosan Infracore Co. Limited
  • 9.10. Guangxi Liugong Machinery Co., Ltd.
  • 9.11. Kobelco Construction Machinery Co., Ltd.
  • 9.12. Sumitomo Heavy Industries
  • 9.13. Xuzhou Construction Machinery Group (XCMG)
  • 9.14. J C Bamford Excavators Limited
  • 9.15. JSC
  • 9.16. WackerNeuson Group
  • 9.17. Equipment North Inc.
  • 9.18. RTM Equipment
  • 9.19. Astec Industries, Inc.
  • 9.20. BELL Equipment

10. Strategic Recommendations

11. Disclaimer

List of Figures

  • Figure 1: Global Mining Equipment Market Size By Value 2016 to 2027F (In USD Billions)
  • Figure 2: Global Mining Equipment Market Share By Application (2016, 2021&2027F)
  • Figure 3: Global Mining Equipment Market Share By Application (2016, 2021&2027F)
  • Figure 4: Global Mining Equipment Market Share By Power Output (2016, 2021&2027F)
  • Figure 5: Global Mining Equipment Market Share By Propulsion (2016, 2021&2027F)
  • Figure 6: North America Mining Equipment Market Size By Value 2016 to 2027F (In USD Billions)
  • Figure 7: North America Mining Equipment Market Share By Application (2016, 2021&2027F)
  • Figure 8: North America Mining Equipment Market Share By Application (2016, 2021&2027F)
  • Figure 9: North America Mining Equipment Market Share By Power Output (2016, 2021&2027F)
  • Figure 10: US Mining Equipment Market Size By Value 2016 to 2027F (In USD Billions)
  • Figure 11: US Mining Equipment Market Share By Application (2016, 2021&2027F)
  • Figure 12: US Mining Equipment Market Share By Application (2016, 2021&2027F)
  • Figure 13: Canada Mining Equipment Market Size By Value 2016 to 2027F (In USD Billions)
  • Figure 14: Canada Mining Equipment Market Share By Application (2016, 2021&2027F)
  • Figure 15: Canada Mining Equipment Market Share By Application (2016, 2021&2027F)
  • Figure 16: Mexico Mining Equipment Market Size By Value 2016 to 2027F (In USD Billions)
  • Figure 17: Mexico Mining Equipment Market Share By Application (2016, 2021&2027F)
  • Figure 18: Mexico Mining Equipment Market Share By Application (2016, 2021&2027F)
  • Figure 19: Market Attractiveness Index, 2021
  • Figure 20: Market Attractiveness Index, 2027F

List of Tables

  • Table 1: Top 10 Countries Economic Snapshot 2020
  • Table 2: Economic Snapshot of Other Prominent Countries 2020
  • Table 3: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
  • Table 4: Global Mining Equipment Market Share By Region (2016, 2021&2027F)
  • Table 5: Global Mining Equipment Market Share By Country (2016, 2021&2027F)
  • Table 6: Global Mining Equipment Market Share By Company (2020)
  • Table 7: North America Mining Equipment Market Share By Country (2016, 2021&2027F)
  • Table 8: Key Facts of Sandvik AB
  • Table 9: Key Facts of Caterpillar Inc.
  • Table 10: Key Facts of Komastu Limited
  • Table 11: Key Facts of Volvo Group
  • Table 12: Key Facts of Liebherr Group
  • Table 13: Key Facts of Hitachi Construction Machinery Co., Limited
  • Table 14: Key Facts of Epiroc AB
  • Table 15: Key Facts of Sany Heavy Equipment International Holdings Company Limited
  • Table 16: Key Facts of Doosan Infracore Co. Limited
  • Table 17: Key Facts of Guangxi Lingong Machinery Co., Ltd
  • Table 18: Key Facts of Kobelco Construction Machinery Co., Ltd.
  • Table 19: Key Facts of Sumitomo Heavy Industries
  • Table 20: Key Facts of Xuzhou Construction Machinery Group (XCMG)
  • Table 21: Key Facts of J C Bamford Excavators Limited
  • Table 22: Key Facts of JSC
  • Table 23: Key Facts ofWackerNeuson Group
  • Table 24: Key Facts of Equipment North Inc.
  • Table 25: Key Facts of RTM Equipment
  • Table 26: Key Facts of Astec Industries, Inc.
  • Table 27: Key Facts of BELL Equipment