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 power of the underground mining machine is what propels it most. Another element that contributes to the popularity of underground mining vehicles is the capability of LHD, LPDT, and underground haulers to transport items from the mine to a desired location (where they can then be further processed). One of the most important production/support instruments is the shearer, which is used to remove ore and coal from mines and smash material/metal rocks into smaller granules.
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Ground Support has complete exclusive control over the underground mining vehicle business in North America. Shearers, roof bolters, and scalers are increasingly required to collect coal, metals, and other ores. Mining can be divided into two primary categories: metallic and nonmetallic. Additionally entering the market are regional rivals, who are favoured by customers due to their closeness. In this way, the North America Underground Mining truck would be heavily exploited.
The most recent market analysis from Future Market Insights, titled “North America Underground Mining Vehicle Market,” contains these specifics as well as future projections. The company’s analysts and consultants undertake primary, secondary, and tertiary research using a 360-degree technique.
“With rising investments in underground mining research,” claims a Future Market Insights analyst, “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
Although there are several companies offering rental services, the US holds the largest market share. In addition, as underground mining vehicle owners work to cut maintenance costs, the key players are emphasising long-term collaboration with small mine operators. In this regard, Canada isn’t far behind either.
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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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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