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.
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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.
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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
North American Mining Equipment Market-Segmentation
By Type
- Surface Mining Equipment
- Mineral Processing Equipment
- Underground Mining Equipment
By Application
- Coal Mining
- Metal Mining
- Non-Metal Mining
North American Mining Equipment Market– Segment by Country
- US
- Canada
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.
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