Underground mining is a process used to access ores and valuable minerals in the grounds by digging into the ground to extract them. Underground Mining is generally carried out when minerals or precious stones are so buried that surface mining is not an option. Underground rooms are created to facilitate the mining operations. Specialized underground mining equipment is used to undergo this technique.
As per MRFR analysis, the US Underground Mining Equipment Industry is majorly driven by increase in mining activities. In the US, the rising number of mining sites has enhanced the demand for mining equipment. From the application segment analysis, coal mining holds the maximum share in underground mining and which has led to high demand of specialized mining equipment across the US. Furthermore, the government supportive regulations and policies regarding mining safety, employment, environment, and equipment usage have fueled the demand for the underground mining equipment in the US. Market Research Future predicts the market is projected to reach USD 4,321.1 million by 2021 with 4.3% CAGR during review period of 2016-2021.
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The leading market players in the US Underground mining market primarily include 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, and Thyssenkrupp AG.
Study Objectives of US Underground Mining Equipment Industry
• To provide detailed analysis of the market structure along with forecast for the next 5 years of various segments and sub-segments of the US Underground Mining Equipment Industry
• To provide insights about factors affecting the market growth
• To Analyze the US Underground Mining Equipment Industry based on various factors- price analysis, supply chain analysis, porters five force analysis etc.
• To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, APAC, and Rest of the World (ROW)
• To provide country level analysis of the market with respect to the current market size and future prospective
• To provide country level analysis of the market for segment by Type of Mining, Application and by Region.
• To provide strategic profiling of the key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the US Underground Mining Equipment Industry
• Manufactures of end-use industry
• Raw material Suppliers
• Aftermarket suppliers
• Research Institute / Education Institute
• Potential Investors
• Key executive (CEO and COO) and strategy growth manager
• Underground mining equipment market is anticipated to experience steady growth in the U. S. market.
• As per MRFR analysis, the US underground mining equipment market will grow from US USD 3,497.5 million in 2016 to USD 4,321.1 million in 2021 at a CAGR of 4.3%.
• The market volume of U.S. underground mining equipment has been estimated 868 units in 2016 to 1,036 Units in 2021 expanding at a CAGR of 3.6%.
• Bases on applications, coal mining is expected to be the leader in underground mining equipment market and expected to reach 649 Units in 2016. The share is attributed to the high demand for coal energy from emerging market.
Country Analysis of US Underground Mining Equipment Industry
As per the MRFR analysis, the US Underground Mining Equipment market is poised to reach US $3,497.5 million in 2021, to grow at a CAGR of around 3.8% during the forecasted period. Midwest and South region will grow at a CAGR of approximately 4.2% and 3.5% respectively.
The reports also cover country level analysis:
• United States
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