Government Initiatives to Boost Mining Sector is Accelerating Asia-Pacific Mining Equipment Market

Asia-Pacific mining equipment market is estimated to grow at a CAGR of 5.5% during the forecast period. Government initiatives to drive the mining sector is accelerating market growth. In May 2020, China’s key steelmakers and steel association called for a rise in the production of domestic iron ore as well as higher investment in exploration overseas to facilitate supplies. The country could move towards re-investing in the mining sector after the COVID-19 pandemic to secure its resource. The Chinese government could either augment minerals exploration and development or invest in technology to facilitate the production of minerals. This, in turn, is offering an opportunity for the adoption of mining equipment. 

Browse the full report description Asia-Pacific Mining Equipment Market Size, Share & Trends Analysis Report, By Type (Surface Mining Equipment, Mineral Processing Equipment, Underground Mining Equipment), By Application (Coal Mining, Metal Mining, and Non-Metal Mining) and Forecast, 2020-2026 at https://www.omrglobal.com/industry-reports/asia-pacific-mining-equipment-market

Mining equipment has experienced remarkable advances in performance, design, and reliability. Electrification of underground mining equipment has been witnessed owing to the emerging focus in underground mining for the reduction of carbon emissions and increase workers’ safety. To fulfill the emerging emissions, energy efficiency, and safety concerns of the underground mining industry, rising demand for electric-powered machinery has been witnessed over the years. Komatsu offers electric mining dump trucks that have been leading the way for autonomous driverless operation and trolley systems in the mining industry. 

Scope of the Asia-Pacific Mining Equipment Market

Market Coverage

• Market number available for 2019-2026
• Base year- 2019
• Forecast period- 2020-2026
• Segment Covered- By Type and Application
• Regions Covered- China, India, Japan, and Rest of Asia-Pacific
• Competitive Landscape- Caterpillar Inc., Atlas Copco AB, Liebherr Group, Komatsu Ltd., and Doosan Corp.

Recent Strategic Initiatives in the Asia-Pacific Mining Equipment Market

• In June 2019, Komatsu Ltd. declared the acquisition of Immersive Technologies Pty Ltd., a mining workforce optimization company in Western Australia. Immersive is a manufacturer of mining equipment simulators for training machine operators for underground and surface mines. The integration of Immersive solutions into the Komatsu series will further support to increase the safety and productivity of mining customers and optimize their operations. 
• In June 2020, Doosan Infracore declared that it has won orders for a total of twenty large excavators in several regions of China which include Shanxi in Eastern China, Qinghai in Northwestern China, and Inner Mongolia in Northern China. The company has also sold six large excavators, which include five 80 t excavators (DX800LC-9C) and one 50 t excavator (DX520LC-9C), to an operator of a mining equipment rental business in Haixi, Qinghai Province.

Key Questions Addressed by the Report

• What is the market growth rate?
• Which segment dominates the market in the base year?
• Which segment will project the fastest growth in the market?
• How COVID-19 impacted the market?

o Recovery Timeline

o Deviation from the pre-COVID-19 forecast

o Most affected segment

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Asia-Pacific Mining Equipment Market-Segmentation

By Type

• Surface Mining Equipment
• Mineral Processing Equipment
• Underground Mining Equipment

By Application

• Coal Mining
• Metal Mining
• Non-Metal Mining

 Asia-Pacific Mining Equipment Market– Segment by Country

• China
• Japan
• India
• Rest of Asia-Pacific