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the Chinese government has drawn a plan that intends to make its coal industry more efficient by constantly decrease “outdated” manufacturing capacity, while rising capacity in key producing regions simultaneously.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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Some key players operating in the market include Caterpillar Inc., Atlas Copco AB, Liebherr Group, Komatsu Ltd., and Sandvik AB. The market players are using some key strategies to increase their market share. For instance, 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.
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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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