Jul 29, 2020   SOURCE: BusinessWire

North America Mining Equipment Market: Growth, Trends and Forecast (2020-2025) - ResearchAndMarkets.com

The "North America Mining Equipment Market - Growth, Trends, and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.

The North American Mining Equipment Market is expected to exhibit a growth rate of over 8% during the forecast period 2020-2025.

With the rise in consumption of base metals and precious metals in numerous applications, the mining activities of these metals have increased, especially in countries such as Canada and Mexico.

The equipment effectiveness in underground mining is nearly 27.3% whereas it is nearly 40% for open pit mining. Over the last years, transition has been observed from less economical underground mining to the more economical open-pit mining, and this factor is expected to drive the demand for mining equipment during the forecast period.

Owing to the implementation of stringent emission norms and regulations, the mining equipment manufacturers are investing more in the development of fuel efficient, low emission and electrically powered equipment. In 2019, Caterpillar Inc. launched R2900 underground loader that meets the strictest emission norms of North America and Europe.

Furthermore, the development of high-performance equipment, with increased automation, has made extraction of ores without declining the grades comparatively cheaper, in turn, propelling the growth of the mining equipment market.

Key Market Trends

Automation and Electrification is Fueling Market Growth

Mining industry is hugely affected by the fluctuating prices and demand of mining products and raw materials. This leads to generation of low profit margins for operators and miners. This is further affected by stringent emission rules and import-export regulations by government.

Owing to the fact that an increase in productivity increases profit margins, mining equipment companies are investing in automation and electrification of mining equipment by installing sensors and analyzing data generated by them. Since 1990, cost of industry robots decreased by 50% while that of manual labor increased by 80%. Mining operations such as drilling and hauling are now fully automated. Operators are now reaping the benefits of automation by seeing increased productivity and safety. In last 7 years, employment in the mining industry has fallen by 3.23% and productivity rose by nearly 2%.

Machines use data analytics and statistical techniques to predict the equipment failure, availability of materials in the ground their quantity through drill and sample data. This practice will reduce and eventually end time consuming activities like face inspection and core logging.

Canada to Lead the Market During the Forecast Period

During 2017-2018, Canada alone had 22% of the active mineral exploration sites across the world, followed by Australia with 20% and Africa with 12%.

The Canadian mining industry is one of the largest, producing more than 60 minerals and metals. Mining activities in the country have been increasing over the past three years. In 2017, the mining industry alone contributed USD $97 billion toward the country's GDP. Many of the world's largest mining companies, such as Barrick Gold, Goldcorp, and Saskatchewan Inc., are headquartered in Canada. In addition to this, the mining industry accounted for 19% of the country's exports. Globally, Canada is ranked as first in the production of potash, second in uranium and niobium, and third in the production of nickel, gemstones, indium, aluminum, and platinum group metals.

To address the demand for mining equipment in the country, many manufacturers are focusing on tie-ups with prominent distributors having wide and trusted distribution network. In March 2019, RDH-Scharf announced Wajax as a new distributor for its services, equipment and parts in Ontario, Manitoba and Saskatchewan.

Competitive Landscape

The North American mining equipment market is characterized by the presence of numerous international and regional players, resulting in a competitive market environment. Companies analyzed include:

  • Liebherr Group
  • 3M Company
  • Terex Corporation
  • AM King Industries Inc.
  • Mining Equipment Limited
  • Marco North America Inc.
  • Machine Tecd Inc.
  • Air Liquide Canada Inc.
  • MSI Mining Equipment

Key Topics Covered

1 INTRODUCTION

1.1 Study Deliverables

1.2 Study Assumptions

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Drivers

4.2 Market Restraints

4.3 Industry Attractiveness - Porter's Five Forces Analysis

5 MARKET SEGMENTATION

5.1 Type

5.1.1 Surface Mining Equipment

5.1.2 Underground Mining Equipment

5.1.3 Mineral Processing Equipment

5.2 Application

5.2.1 Metal Mining

5.2.2 Mineral Mining

5.2.3 Coal Mining

5.2.4 Chemical Treatment Process

5.2.5 Others

5.3 Component

5.3.1 Hardware

5.3.2 Software

5.4 By Country

5.4.1 United States

5.4.2 Canada

5.4.3 Rest of North America

6 COMPETITIVE LANDSCAPE

6.1 Vendor Market Share

6.2 Company Profiles

6.2.1 Liebherr Group

6.2.2 3M Company

6.2.3 Terex Corporation

6.2.4 AM King Industries Inc.

6.2.5 Mining Equipment Limited

6.2.6 Marco North America Inc.

6.2.7 Machine Tecd Inc.

6.2.8 Air Liquide Canada Inc.

6.2.9 MSI Mining Equipment

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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