Commonwealth of Independent States (CIS) Underground Mining Equipment Market – Industry Trends and Forecast to 2030

Commonwealth of Independent States (CIS) Underground Mining Equipment Market Analysis and Size

Heavy-duty trucks, big dozers, hydraulic mining shovels, electric rope shovels, motor graders, drillers, and loaders are a few pieces of equipment used in underground mining. The mining sector is expected to change into a climate-smart sector in the upcoming years. Mining companies are now eager to switch from using conventional fuels like diesel to electrification as a result of their realization of this. Trends in global industrialization and urbanization are the main driving forces behind market expansion. The recent dramatic increase in population has led to an increase in mineral consumption. An increase in household incomes has also contributed to the sharp rise in demand.

Data Bridge Market Research analyses that the Commonwealth of independent states (CIS) underground mining equipment market, valued at USD 3,958.08 million in 2022, will reach USD 6,213.98 million by 2030, growing at a CAGR of 5.8% during the forecast period of 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption  analysis, and pestle analysis.     

Commonwealth of Independent States (CIS) Underground Mining Equipment Market Scope and Segmentation  

Market Definition

Underground mining is the process of extracting resources from below the surface using various subsurface techniques. A typical mining procedure involves sending large machinery underground to crush the rocks and deposit them in a tank or vat. Numerous industries use underground mining techniques, including coal mining, oil exploration, and mining for limestone, slate, iron ore, gold panning, and others.

Commonwealth of Independent States (CIS) Underground Mining Equipment Market Dynamics

Drivers

• Rising need for environmentally friendly equipment

The equipment population is growing due to the increased demand for mining tools such as surface mining equipment, crushers, drills, and breakers. Manufacturers primarily focus on producing highly dependable machines and environmentally friendly mining equipment that don't harm the environment. Developing nations are also adjusting to hybrid technology used to make mining equipment to embrace sustainability, which will encourage environmentally friendly products and further stimulate the market.

• Rising industrialization and urbanization drives the market

Trends in industrialization and global urbanization are two additional key drivers of market expansion. The recent dramatic increase in population has led to an increase in mineral consumption. Another element driving the surge in mineral demand is the increase in household incomes, which is suitable for the market's expansion. Through the limited supply of fossil fuels and strict government regulations on reducing carbon emissions, the demand for affordable, energy-efficient renewable energy sources like solar energy rises, which propels the market's growth. An increase in urbanization and industrialization in developing countries like Germany, France, and the United States is driving the growth of the global mining equipment market. For instance, the rate of urbanization increased by 0.4% in the United States between 2017 and 2019.

Opportunities

• Technological advancements create lucrative opportunities to grow

Safety is critical in reducing mining operations' risks to accidents and health. Market participants strive to guarantee the safety and security of employees by using cutting-edge techniques. The creation of new technology, machinery, and safety equipment is necessary to meet the increasing demand from a variety of end-use industries for minerals and metals. Mining operations are using AI and machine learning more frequently, creating lucrative opportunities. The market is anticipated to expand over the forecast period due to the mining industries' increasing adoption of digitalization, IoT penetration, and automation. Thus, with technological advancement, mining has become safer and more convenient.

• Rising disposable incomes creates expansion in the market

There has been a significant increase in the demand for various minerals, including iron, gold, copper, coal, lead, aluminum, and silver, which has been fueled by stable economic growth in both developed and developing regions, rising levels of disposable income, and an increase in the population of middle-class people. As a result, demand for underground mining equipment is increasing.

Restraints/Challenges

• The export of used mining machinery can limit the market growth

The basis for new mining is investments in the mining industry, which depends on the economic climate. Developing nations like South Africa, Argentina, and Peru frequently choose used equipment because, when cared for properly, it has a reliable life cycle. This equipment is exported to developing nations at a lower cost than buying new mining equipment. As a result, market growth is anticipated to hinder the market.

• Lack of training and maintenance can impede the market growth

Employees must receive the appropriate training and education on safe handling and use of equipment in order to prevent incidents brought on by human error, equipment misuse, inattention, and improper maintenance. Furthermore, regular maintenance inspections ensure that the mining equipment is in good working condition. Lack of expertise and training can also limit market expansion.

This Commonwealth of Independent States (CIS) Underground Mining Equipment Market monwealth of independent states underground mining equipment market  report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Commonwealth of Independent States (CIS) Underground Mining Equipment Market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In 2022, Komatsu announced the acquisition of the German company Gelsenkirchen GGH Group to expand its underground mining equipment business. The company's presence in the mining industries of Europe, South Africa, and India will grow as a result of this acquisition.
• In 2022, a strategic agreement was signed between Epiroc and AARD Mining Equipment, a leading productivity and sustainability partner for mining and infrastructure development. AARD Mining Equipment is a South African manufacturer of mining equipment.
• In 2021, to deliver next-generation mine automation, Liebherr teams up with Hexagon. Liebherr proves the interoperability of its autonomous offering with this agreement. By combining the strength of Hexagon's technologies with Liebherr's cutting-edge autonomous solutions, higher levels of on-board intelligence are achieved with less reliance on centralized supervisory systems and site infrastructure. The company benefited from this partnership by expanding its selection of automation systems-related products—machine learning and artificial intelligence improvements.
• In 2021, At World of Concrete 2021, Hyundai Doosan Infracore unveiled the DL380-7, one of its new -7 Series wheel loaders. The DL350-5 is being replaced by the Doosan DL380-7, the brand's next-generation wheel loader. The DL380-7'sstandardbucket has a 7% bigger capacity than the DL350-5's. The business will be able to provide the loader with increased rear visibility and productivity.

Commonwealth of Independent States (CIS) Underground Mining Equipment Market Scope

The Commonwealth of independent states (CIS) underground mining equipment market is segmented on the basis of product  type, technique, power output, mining method, movement based, drive type, application, purchase mode, operating weight, propulsion type, end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product type

• Mining Trucks
• Diggers
• Mining Bottlers
• Mining Shearer
• Mining Drills
• Drills
• Breakers
• Continuous Miners
• Mining Excavators and Shovels
• Mining Scalers
• Mining Equipment’s
• Hydraulic Excavators
• Mining Dozers/Loaders
• Underground Mining Haulers
• Crushing, Pulverizing and Screening Equipment’s
• Others

Technique

• Soft Rock Mining
• Hard Rock Mining

Power Output

• Less Than 500 hp
• 500-2000 hp
• Greater Than 2000 hp

Mining Method

• Longwall Mining
• Room and Pillar
• Barehole Mining
• Block Caving
• Shrinkage Stoping
• Sublevel Caving
• Cut and Fill Mining
• Others

Movement Based

• Wheeled
• Crawler

Drive Type

• Human Drivers
• Autonomous

Application

• Metal Mining
• Coal Mining
• Non-Metal Mining

Mineral mining

Purchase Mode

• Rented/Leased
• New Purchase

Operating Weight

• More Than 14,000kg
• Less Than 14,000kg

Propulsion Type

• Diesel
• Electric
• CNG/LNG/RNG

End user

• Mining Operations
• Rental Service Provider

Commonwealth of Independent States (CIS) Underground Mining Equipment Market Regional Analysis/Insights

The Commonwealth of independent states (CIS) underground mining equipment market is analysed and market size insights and trends are provided by country, product type, technique, power output, mining method, movement based, drive type, application, purchase mode, operating weight, propulsion type, end user as referenced above.

The countries covered in the Commonwealth of independent states (CIS) underground mining equipment market report are Russia, Kazakhstan, Azerbaijan, Ukraine, Belarus and Rest of Commonwealth of Independent States (CIS).

The mining dozers/loaders segment is expected to grow with the highest growth rate in the forecast period of 2022 to 2029 due to the higher demand from the consumer. Russia dominates the Commonwealth of independent states (CIS) underground mining equipment market as Russia has good natural resources in coal, nickel, gold, silver, zinc, iron, and diamonds. Kazakhstan dominates with the presence of bauxite, chromite, and copper. Azerbaijan dominates the region with increasing activities of underground mining.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Commonwealth of Independent States (CIS) Underground Mining Equipment Market Share Analysis

The Commonwealth of independent states (CIS) underground mining equipment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to commonwealth of independent states underground mining equipment.

Some of the major players operating in the Commonwealth of independent states (CIS) underground mining equipment market are:

• AARD Mining Equipment (South Africa)
• AB Volvo (Sweden)
• BELAZ (Belarus)
• Boart Longyear. (U.S.)
• Epiroc AB (Sweden)
• FLSmidth  (Denmark)
• Hitachi Construction Machinery Co., Ltd (Japan)
• Hyundai Doosan Infracore (South Korea)
• Komatsu Mining Corp (Japan)
• Liebherr-International Deutschland GmbH (Switzerland)
• Liugong Machinery Co., Ltd. (China)
• Metso (Finland)
• minemaster.eu. (Złotoryja.)
• RDH -Scharf (Canada)
• Sandvik AB (Sweden)
• SANY Group (China)
• Terex Corporation (U.S.)
• XCMG Group (China)
• Caterpillar (U.S.)
• Hager Electro-India (India)

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