Global Mining Equipment Market to reach USD 137.9 billion by 2027.Global Mining Equipment Market is valued approximately at USD 98 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 5% over the forecast period 2021-2027. Growing consumption of natural resources such as oil, natural gas, coal and others, rise in construction of roads and railway tracks through hilly areas and strategic initiatives by market players to cater the growing demand of the market are creating demand for mining equipment. According to Statista, coal consumption in India, surged from 16.86 exajoules in 2016 to 17.44 exajoules in 2017 and reached 18.6 exajoules in 2019. Also, in June 2020, Caterpillar Inc. acquired Marble Robot Inc., a robot and autonomy technology solution company, to enhance its expertise in mining equipment. Furthermore, technological advancements and occurrence of environment friendly equipment are expected to create demand in near future. Such as, in January 2019, ABB Ltd. launched the Ability Smart Sensor for assessing the condition of mounted bearings to prevent the downtime in mining during material handling. However, environment degradation due to mining activities and high cost of mining equipment may hinder growth during forecast period.

Asia Pacific is the leading region and is also expected to show significant growth during forecast period, among Asia Pacific, North America, Europe, Latin America, and Rest of the World. Rising natural resource consumption due to growing population and government initiatives for the development of mining and exploration activities are injecting growth in Asia Pacific market
Major market player included in this report are:

Caterpillar Inc.
Liebherr Group
Atlas Copco
Komatsu Ltd
Hitachi Construction Machinery Co. Ltd
AB Volvo
Deere & Company
Doosan Corporation
Metso Corporation
Sandvik AB

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Equipment offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Equipment:
Underground Mining
Surface Mining
Crushing, Pulverizing & Screening
Drills & Breakers
Others
By Application:
Metal Mining
Non-metal Mining
Coal Mining


By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.

Target Audience of the Global Mining Equipment Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors