Market Research Report
Global Mining Dozer Market - 2019-2026
|Published by||DataM Intelligence||Product code||950572|
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|Global Mining Dozer Market - 2019-2026|
|Published: July 18, 2020||Content info:||
Rising mining activities in the world is propelling the usage of mining dozers in the world. Mining dozers remove unwanted materials such as loose earth, soil, and other related particles from the site, which might create an obstruction in the mining process. The global mining dozer had a slow growth in 2019. However, the growth prospects of the market are promising during the forecast period.
The global mining dozer market size was worth USD YY million in 2019 and is estimated to reach USD YY million by 2027, at a CAGR of YY% during the forecast period.
Growing mining activities across the world especially in China, Australia, and Canada is propelling the market growth. The rise in demand for metal and mineral based commodities is increasing the sale of the equipment globally. Another major driver is the growing demand for technologically advanced equipment.
The Mining industry plays a major role in boosting the Infrastructure sector and the economy of the country with more than 418,000 people employed across Canada. It has a combined strength of more than 3,200 combined companies operating in various aspects of the Mining industry such as engineering, geotechnical, environmental, financial, and other services related to mining operations, making it one of the largest globally.
The global Mining Dozer market is classified based on Mining Type, Product Type, and region. In terms of product type, the mining dozer market can be categorized into crawler mining dozer, and tire mining dozer. The mining type segment categorized into open pit coal mining, open pit metal mining, underground coal mining, underground metal mining, and quarry.
The demand for open pit, quarry, and underground mining activities is expected to grow in the future, resulting in the establishment of new mines, particularly for coal, gold, and quarry products. In the Coal Mine industry, the establishment of new generation coal mine companies is expected to be active during the forecast period.
The Asia-Pacific is largest region for the global mining dozers market. This region holds around 60% market share of total market owing to to rising mining activities especially in the countries such as China, India, and Australia. Minerals and metals form the backbone of the entire Infrastructure sector. They are an essential component in the Construction and Power industries. Growth in the sector has resulted in increased demand for raw materials in this region, thereby increasing mining activities. In addition, the material standard of living is growing, which, in turn, is boosting the Mining industry. Thus, the demand for mining equipment is expected to rise during the forecast period.
The mining activities of a particular economy boost the GDP of the country. The activities make a significant contribution to total national investment. The Mining industry provides employment to local communities; it generates government revenue, and provides opportunities for economic growth and diversification.
The Global Mining Dozer market is fragmented, with many vendors at present. The increasing demand for mineral based commodities is boosting market growth. This has led to increased demand for mining equipment globally. Caterpillar, Komatsu, and Hitachi are the major vendors in the Global Mining Dozers market.
"List not exhaustive"