North America Underground Mining Vehicle Market Size was worth US$ 22 Billion in the year 2022 and is expected to reach at a CAGR of 5.0% between 2022 and 2031.
The underground mining vehicle is mainly propelled by its strength. Another reason for the popularity of underground mining vehicles is the ability of LHD, LPDT, and underground haulers to transport materials from the mine to a desired location (where they can subsequently be further processed). One of the most important production/support instruments for recovering ore and coal from mines as well as for breaking down material/metal rocks into smaller granules is the shearer.
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Ground support has a monopoly on the underground mining vehicle market in North America. Shearers, roof bolters, and scalers are increasingly needed to recover coal, metals, and other ores. Metal and non-metallic mining are the two primary types. Local players are also entering the market and are chosen by consumers due to their proximity to them. In this way, the North America Underground Mining vehicle would be widely used.
The most recent market report by Future Market Insights, “North America Underground Mining Vehicle Market,” contains these specifics and projections for the future. The company’s staff of analysts and consultants employs a 360-degree strategy in its primary, secondary, and tertiary kinds of research.
According to a Future Market Insights researcher, “with rising investments in underground mining research, North America underground mining vehicle market is likely to grow on a good note in the forecast period.”
Key Takeaways from North America Underground Mining Vehicle Market
Despite having many rental service providers, the US has the highest market share. Additionally, the key players are placing an emphasis on long-term cooperation with the small mine operators as underground mining vehicle owners strive to reduce maintenance costs. Canada isn’t far behind either in this area.
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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
- C. Bamford Excavators Ltd. (JCB)
- Normet
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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
By Ownership:
- Mining Operators
- Rental Service Provider
By Application:
- Coal Mining
- Metallic Mining
- Precious Metals Mining
- Non-Precious Metals Mining
- Non-Metallic Minerals Mining
By Country:
- S.
- Canada
- Mexico
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