Dallas, TX / CRWE PRESS RELEASE / July 10, 2022  - According to the recent study the mining equipment market is projected to reach an estimated $112.9 billion by 2027 from $79.7 billion in 2021, at a CAGR of 6.0% from 2021 to 2027. Growth in this market is primarily driven by growth in mining activities, increasing demand for metal and mineral commodities in growing economies, like India and China.

Browse 129 figures / charts and 102 tables in this 166-page report to understand trends, opportunities and forecast in mining equipment market by product type (underground mining machinery, surface mining machinery, drills and breakers, crushing, pulverizing, screening equipment, mineral processing machinery, and parts and attachments), application (coal, mineral, and metal), function type (transportation, processing, and excavation), and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Metal market is expected to remain the largest segment during the forecast period.”   

Based on application, the mining equipment market is segmented into coal, mineral, and metal. Lucintel forecasts that the metal market is expected to remain the largest segment and it is also expected to witness the highest growth over the forecast period due to increasing demand of metals in construction and automotive industries.

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

Asia Pacific is expected to largest region due to increasing demand for coal 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. Hitachi, Doosan Corporation, AB Volvo, Deere and Company, and Caterpillar Inc. 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