Asia-Pacific mining equipment market is estimated to grow at a CAGR of 5.5% during the forecast period. The major factors contributing to the market growth include the significant rise in the mining industry and the rising demand for advanced mining equipment in the region. As per the Government of India, Ministry of Coal, the overall production of coal in India during 2019-20 were 729.10 million tons (Provisional) with positive growth was 0.05%. Additionally, the Chinese government has drawn a plan that intends to make its coal industry more efficient by constantly decrease “outdated” manufacturing capacity, while rising capacity in key producing regions simultaneously. This, in turn, is accelerating the demand for specialized underground mining equipment including trucks, diggers, and loaders that are employed to excavate raw materials.
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Asia-Pacific 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. Based on application, the market is classified into coal mining, metal mining, and non-metal mining. As per the India Brand Equity Foundation (IBEF), India produces 23 non-metallic minerals, 95 minerals 4 fuel-related minerals, 55 minor minerals (including building and other minerals), 10 metallic minerals, and 3 atomic minerals. Non-metallic minerals include coal, limestone, mica, dolomite, phosphate, gypsum, and others. India is the third-largest producer of coal. In India, coal production stood at 729.10 million tonnes (MT) in 20 and reached 304.88 MT in 2021 (as of October 2020). This, in turn, is driving the demand for mining equipment for non-metallic applications in the country.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
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
The Report Covers
- Comprehensive research methodology of the Asia-Pacific 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 Asia-Pacific mining equipment market.
- Insights about market determinants that are stimulating the Asia-Pacific mining equipment market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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