The US Underground Mining Equipment Industry is expected to reach USD 4321.1 Million at the end of the forecasted period and is expected to show a staggering growth at CAGR of 4.3% from 2016 to 2022.
APAC will be the Fastest Growing Market:
Midwest dominates the US Underground Mining Equipment Industry with its largest market share of USD 1836.4 million. It will expand at a CAGR 4.7% over the forecast period. This share is attributed to the increase in mining activities and lots of investments in the region.
It is followed by South, which is expected to grow rapidly over USD 1475.2 million by 2022. West and Northeast are also expected to grow from 2016 to 2022.
The US Underground Mining Equipment Industry is driven by increase in mining activities. The Midwest region shows a rapid increase in the mining sites followed by south, West and Northeast in the US. Coal mining holds the maximum share in underground mining and leads to high demand of specialized mining equipment. Furthermore, the government’s supportive regulations and policies regarding mining safety, employment, environment, and equipment usage have augmented the demand for the underground mining equipment in US.
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US Underground Mining Equipment Industry – Key Players:
- Komatsu Ltd.
- Caterpillar Inc.
- Joy Global Inc.
- Sandvik AB
- Volvo AB
- Hitachi Construction Machinery Co. Ltd.
- Doosan Infracore Co. Ltd.
- Boart Longyear Ltd.
- Flsmidth Group
- Kennametal, Inc.
- Liebherr – International Deutschland Gmbh
- Metso Corporation
- Thyssenkrupp AG.
It is expected that the US Underground Mining Equipment Industry will advance with higher growth rate as compared to previous years. The current challenges for the market are safety of the workers and environment. The growing population and urbanization in the emerging economies is driving the market of Underground Mining along with overall infrastructure development, sustainable mining development policies, and supportive mining safety regulations over the next five years. The Longwall Extraction is estimated to be the leading Underground mining equipment in United States with market value of USD 2803.2 million by 2022 due its high recovery rate. Coal Mining acquires a share of USD 3174.6 million by the end of forecasted period.
Key Chapters Covered in Report:
2 Manufacturing Cost Structure Analysis of Underground Mining Equipment
3 Technical Data AND Manufacturing Plants Analysis
4 Production Analysis of Underground Mining Equipment by Region, Product Type and Application
5 Consumption Volume and Value Analysis of Underground Mining Equipment by Regions
6 Analysis of Underground Mining Equipment Production and Sales Market Status 2011-2016
7 Analysis of Underground Mining Equipment Industry Key Manufacturers
8 Price and Gross Margin Analysis
9 Marketing Trader or Distributor Analysis of Underground Mining Equipment
10 Development Trend of Underground Mining Equipment Industry 2016-2021
11 Industry Chain Suppliers of Underground Mining Equipment with Contact Information
12 New Project Investment Feasibility Analysis of Underground Mining Equipment
13 Conclusion of the U.S. Underground Mining Equipment Industry 2015 Market Research Report
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