North America Underground Mining Vehicle Market was worth US$ 22 Billion in the year 2022 and is expected to reach US$ 31 Billion by the year 2032 at a CAGR of 3.5% between 2022 and 2032.
The factor basically driving the underground mining vehicle is that it’s durable. The other reason behind the popularity of underground mining vehicle is LHD, LPDT, and underground haulers to transport materials from mine to preferred location (where material gets processed further). Shearers are amongst the major production/support unit used to extract ore and coal from mine and also make smaller granules of material/metal rocks.
Ground support is leading North America underground mining vehicle market. There is a growing demand for shearers, roof bolter, and scalers to extract coal, metals, and the other ores. Non-metallic and metal mining are ruling the roost. The local players are also making an entry into the market and preferred by the end-users due to physical proximity. This is how North America Underground Mining vehicle would be used at a large scale all over.
Future Market Insights has entailed these facts with future perspectives in its latest market study entitled ‘North America Underground Mining Vehicle Market’. Its team of analysts and consultants deploys 360-degree approach in its primary, secondary, and tertiary modes of research.
“With rising investments in research regarding underground mining, North America underground mining vehicle market is likely to grow on a good note in the forecast period”, says an analyst from Future Market Insights.
For more information: https://www.futuremarketinsights.com/reports/underground-mining-vehicles-market
Key Takeaways from North America Underground Mining Vehicle Market
The US being subject to a number of rental service providers, holds the largest market share. Plus, with underground mining vehicle owners looking for curbing maintenance costs, the key participants are emphasizing on long-term partnerships with the small mine operators. Canada is also not behind in this regard.
Competitive Mining Vehicles
Astec Industries has its underground mining vehicles for extracting precious minerals from the earth. They include silver, gold, ore, zinc, copper, lead, nickel, and likewise. The application areas of extracted minerals include cleaning detergents, electronics parts, batteries, water treatment, medicines, bricks, trains, airplanes, trains, and food as well.
Getman Corporation acts as a good supplier of customer-focused solutions for underground mining industry. The products are known to be reliable and serviceable.
Key Companies Profiled
Caterpillar Inc.
Sandvik AB
Epiroc AB
Komatsu Ltd.
Boart Longyear Ltd.
Hitachi Construction Machinery
Liebherr Group
Sany Heavy Industry Co. Ltd.
Volvo Construction Equipment
Astec Industries Inc
J.C. Bamford Excavators Ltd. (JCB)
Normet
North America Underground Mining Vehicle Market by Category
By Equipment Type:
Ground Support
Roof Bolter
Scalers
Shotcrete Sprayers
Shearers
Production Equipment
LPDT
LHD
Underground Haulers
Scrapers
Dozers
Mining Drills
Continuous Miners
Mining Excavators and Shovels
Others (Shaft Sinking Equipment, Feeder Breaker, etc.)
Utility Equipment
Scissor Lift
Personnel Carrier Truck
Boom Truck
Fuel Lube Trucks
Remixers
Others