Lucintel's latest market report analyzed that mining equipment provides attractive opportunities in the coal, mineral and metal mining industries. The mining equipment market is expected to reach $112.9 billion by 2027 with a CAGR of 6.0%. In this market, metal is the largest segment by application. The underground automation system for effective mining, automatic power crusher for crushing and compacting operation, and multi-functional excavator for construction and demining function provides strategic growth path in this market.
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Based on application, the mining equipmentmarket is segmented into coal, mineral, and metal. Lucintel forecasts that the metal market accounted for the largest share of the market in 2020 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.
Browse in-depth TOC on “Mining Equipment Market”
102 – Tables
129 – Figures
166 – Pages
The mining equipment market is marked by the presence of several big and small players. Some of the prominent players offering mining equipment include Hitachi, Doosan Corporation, AB Volvo, Deere and Company, and Caterpillar Inc.
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