According to the recent study the mining equipment market is projected to reach an estimated $154 billion by 2025 from $137.7 billion in 2019, at a CAGR of 1.9% from 2020 to 2025. Growth in this market is primarily driven by increasing demand of metal and mineral commodities, and rapid urbanization.

Browse 101 figures / charts and 57 tables in this 179  -page report to understand trends, opportunities and forecast in mining equipment market by product (underground mining machinery, surface mining machinery, drills and breakers, crushing, pulverizing, and screening equipment, mineral processing machinery and parts and attachments), by application (coal, mineral and metal), by function (transportation, processing and excavation), and by region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Surface mining equipment market is expected to remain the largest segment during the forecast period.”

Based on product type, the mining equipment market is segmented into underground mining machinery, surface mining machinery, drills and breakers, crushing, pulverizing, and screening equipment, mineral processing machinery. Lucintel forecasts that the surface mining machinery will show above average growth during the forecast period due to rising demand of metal and minerals across the world.

“Within the mining equipment market, the metal segment is expected to remain the largest application type”

Based on application type, the metal segment is expected to witness the highest growth over the forecast period due to increasing metal mining activities with large scale urbanization in emerging economies like India and China.

“Asia pacific will dominate the mining equipment market in near future”

APAC is expected to remain the largest market during the forecast period mainly due to increasing coal and metal exploration activities for power generation and rising metal consumption because of large scale infrastructure development.

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Major players of mining equipment market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Caterpillar, Komatsu, Hitachi Construction Machinery, Atlas Copco, and Sandvik are among the major mining equipment providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/mining-equipment-market.aspx or helpdesk@lucintel.com

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Lucintel

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