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Underground Mining Equipment Market Trends

  • Report ID: GMI8605
  • Published Date: Mar 2024
  • Report Format: PDF

Underground Mining Equipment Market Trends

One of the most significant trends in underground mining equipment technology is the integration of automation and remote operation systems. These advancements not only improve worker safety but also enhance productivity and efficiency. For instance, Sandvik’s Auto Mine system enables the autonomous operation of underground loaders and trucks, reducing the risk of accidents and allowing for continuous operations even in hazardous environments. This system effectively reduces downtime caused by gas delays and the need for frequent trips to the working face. Additionally, it eliminates the necessity for extra ventilation by enabling operators to monitor production from the surface within a control room.
 

Additionally, the shift towards sustainable mining practices has led to the adoption of battery electric vehicles (BEVs) in underground mining. battery electric vehicles offer numerous advantages over traditional diesel-powered vehicles, including lower emissions and therefore ventilation costs, reduced noise levels, and improved energy efficiency. With advancements in battery technology, battery electric vehicles can now operate for longer durations, making them viable alternatives for underground transportation.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of underground mining equipment was reached USD 22 billion in 2023 and is set to expand at 2.9% CAGR between 2024 to 2032, driven by the rise in the extraction of minerals, metals, and coal from mines.

Underground mining equipment market from the excavator segment accounted for USD 8 billion in 2023 and is expected to generate USD 10 billion by 2032, owing to the widespread use in mining operations for various tasks, including moving bulk material, loading dump trucks and lorries.

Asia Pacific underground mining equipment market size crossed USD 9 billion in 2023 and is projected to reach USD 12 billion by 2032, attributed to the expanding mining activities in countries like China, India, Indonesia, and Australia.

Some of the top underground mining equipment companies are ABB, Boart Longyear, Caterpillar, DMC, Epiroc B-H d.o.o, Hitachi Construction Machinery, J C Bamford Excavators Ltd., J.H. Fletcher & Co., Jacon Equipment, Komatsu Mining Corp, Liebherr, MacLean Engineering & Marketing Co. Limited, Normet, Sandvik AB, and SMT Scharf GmbH

Underground Mining Equipment Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 177
  • Countries covered: 22
  • Pages: 246
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