North American mining equipment market is estimated to grow at a CAGR of 4.5% during the forecast period. Some pivotal factors accelerating the market growth include the rising minerals mining activities and rising adoption of advanced mining equipment in the region. The government initiatives is one of the factors accelerating the production of minerals in the region. For instance, in July 2020, the US House of Representatives introduced a bipartisan caucus which is intended to target ways to augment domestic manufacturing of specialized minerals that are utilized for the production of cell phones, missiles, and other high-tech equipment. The rising number of US technology firms have increased the demand for minerals, however, worsening US relation with China could reduce minerals exports to the US. Therefore, the US government is actively focusing on increasing minerals production in the country, which, in turn, will further drive the adoption of mining equipment that occupies a major position in the process of mining and evaluates the performance of extraction and processing operations of minerals.

The global mining equipment market is segmented based on type and application. Based on type, the market is classified into surface mining equipment, mineral processing equipment, and underground mining equipment. Surface mining equipment has a significant share in the market. Nearly all non-metallic minerals, most metallic minerals, and a large fraction of coal are mined by surface techniques. As per the US Energy Information Administration (EIA), in 2019, nearly 706 million short tons of coal were produced in 23 US states. In 2019, surface mines represented 65% of the total number of mines and the source of 62% of total coal production in the US. Based on application, the market is classified into coal mining, metal mining, and non-metal mining.  

Some key players in the market include Caterpillar Inc., Atlas Copco AB, Liebherr Group, Komatsu Ltd., and John Deere. In May 2020, Caterpillar declared that it is adding a new platform, MineStar Edge, which is intended to increase the Cat MineStar Solutions range of technologies. This will support to incorporate the way several mining operations manage their businesses. MineStar Edge develops an operational ecosystem for mining firms. Instead of having data in individual silos, MineStar Edge brings reflectiveness to the whole mining operation and allows managers to monitor the activities early in the process and the impact that further decline the value chain. Edge Equipment Tracking and Production Recording offers consistent information on each asset, which includes data on movement and location, fuel level, velocity, cycle times, payload, and as well as time utilization and hour meter reading. Supervisors can monitor unscheduled and scheduled downtime in addition to scheduled and unscheduled operational stoppages, which can leverage operational changes to maintain productivity.

Research Methodology

The market study of the North American mining equipment market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity in our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. North American Mining Equipment Market Research and Analysis by Type
2. North American Mining Equipment Market Research and Analysis by Application

The Report Covers

• Comprehensive research methodology of the North American mining equipment market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the North American mining equipment market.
• Insights about market determinants which are stimulating the North American mining equipment market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.