Global Surface Mining Equipment Market projected to reach USD 103.10 Billion by 2033 with 7.10% CAGR
From GlobeNewswire: 2025-01-14 14:00:00
The global Surface Mining Equipment Market is projected to reach around USD 103.10 Billion by 2033, with a compound annual growth rate of 7.10%. Factors driving growth include increasing demand for minerals, technological advancements, supportive government policies, and integration with advanced technologies.
In July 2024, Manheim Australia will host a national multi-vendor mining auction online, featuring heavy machines like dump trucks, excavators, and surface miners. MEVCO has partnered with Rivian Automotive to provide electric vehicles to the mining industry, promoting sustainable practices and innovation in mining operations. In April 2024, Epiroc launched the SmartROC T30 R, a surface radio remote drill rig with 19 kW drilling power and automated features. Equipped with the Epiroc Rig Control System (RCS), it offers high technology and automation for construction and quarrying, joining the SmartROC T25 R on the same flagship platform.
Komatsu will introduce new underground hard rock mining machinery, including the WX07 wheel loader, ZJ21 jumbo drill rig, and ZB21 bolter, at the Investing in African Mining Indaba. The equipment, part of Komatsu’s expansion into underground mining, features a shared platform for efficient drilling and bolting tasks in the African market.
The surface mining equipment market is projected to reach USD 103.10 billion by 2033, growing at a CAGR of 7.10% from USD 55.61 billion in 2023. The report covers market size, key segments, buying options, regional scope, and detailed analysis, including the impact of the COVID-19 pandemic on the market.
The COVID-19 pandemic disrupted the global surface mining equipment market, impacting demand from industries like oil & gas and mining due to supply chain constraints and production shutdowns. However, essential industries supported the market, leading to a revival in demand for surface mining equipment to support production facilities. As industries recover post-pandemic, funds flow into infrastructural development and energy efficiency in surface mining equipment. The Surface Mining Equipment Market report answers key questions about market size, growth rate, top companies, and more. Market dynamics, segmentation, and competitive landscape are also detailed. Regional analysis highlights growth in North America, Europe, Asia-Pacific, and LAMEA. North America benefits from a developed mining industry, while Europe focuses on technology advancements. Asia-Pacific sees a surge in mining activities and infrastructure development, while LAMEA experiences growth from increased investments and demand for minerals. Key trends in the region include a shift towards private-public partnerships for mining projects and an increase in training opportunities for mining professions. Efforts are also being made to develop mining equipment to enhance operational efficiency with various mining methods being employed.
The Surface Mining Equipment Market Report offers customized copies to meet specific research needs. For more information or data inclusion, contact the sales team at [email protected]. The report covers equipment types, mineral types, applications, end-users, and regional insights.
Prominent players in the Surface Mining Equipment Market include Caterpillar Inc., Komatsu Ltd., Hitachi Construction Machinery Co. Ltd., and others. Access a free sample report of the market for comprehensive coverage, market tables, and figures, along with subscription-based options, customization, and post-sale service assistance. Enjoy discounts and personalized market briefs by the author. 1. A new study shows that eating a diet high in fruits and vegetables can reduce the risk of heart disease by up to 30%. Researchers found that people who consumed at least five servings of fruits and vegetables per day had significantly lower rates of heart disease compared to those who did not.
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