The underground mining equipment market revolves around extracting resources from beneath the surface through diverse subsurface techniques. This process involves utilizing heavy machinery to break down rocks and deposit them in underground containers. With applications spanning gold, iron, limestone, slate, coal, and more, sectors benefit from technological advancements that enhance efficiency and safety. Equipment such as heavy-duty trucks, hydraulic shovels, drills, and loaders streamline operations. As technology continues to evolve, the market experiences improved mining processes and equipment innovations driving growth and optimizing resource extraction.
According to Data Bridge Market Research, the Africa Underground Mining Equipment Market is growing with a CAGR of 4.6% in the forecast period of 2022 to 2029 and is expected to reach USD 2,560.23 million by 2029.
“Escalating demand for metals across various industries driver the market growth”
The underground mining equipment market is driven by the escalating demand for metals across various industries. Industries such as construction, automotive, electronics, and infrastructure rely heavily on metals such as copper, gold, and silver for their manufacturing processes. This heightened demand necessitates increased mining activities, consequently boosting the need for advanced underground mining equipment. As industries expand and modernize, the market experiences a surge in equipment adoption to meet the growing demand for metals, thereby driving the growth and evolution of the underground mining equipment sector.
What restraints the growth of Africa underground mining equipment market?
“Stringent regulations within the underground mining equipment”
Stringent regulations within the underground mining equipment market present a notable constraint. Governments and regulatory bodies impose rigorous standards to ensure worker safety, environmental protection, and sustainable mining practices. Complying with these regulations demands substantial investments in specialized equipment that meets stringent criteria. These compliance-related costs can strain budgets, particularly for smaller mining operations. Additionally, adherence to complex regulations may lead to delays in equipment deployment and operational processes. These challenges can hinder market growth, posing barriers to entry and expansion, and affecting the pace of technological advancements.
Segmentation: Africa Underground Mining Equipment Market
The Africa Underground mining equipment market is segmented On the basis of mining equipment, power output, mining method, movement based, drive type, application, and purchase mode, operating weight and propulsion type.
- On the basis of mining equipment, the Africa underground mining equipment market is segmented into mining dozers/loaders, mining drills, mining haulers and others.
- On the basis of power output, the Africa underground mining equipment market is segmented into less than 500 hp, 500-2000hp and greater than 2000hp.
- On the basis of mining method, the Africa underground mining equipment market is segmented into longwall mining, room and pillar, block caving, shrinkage stopping, sublevel caving, cut and fill mining and others.
- On the basis of movement based, the Africa underground mining equipment market is segmented into wheeled and crawler.
- On the basis of drive type, the Africa underground mining equipment market is segmented into human drivers and autonomous.
- On the basis of application, the Africa underground mining equipment market is segmented into metal mining, coal mining and non-metal mining.
- On the basis of purchase mode, the Africa underground mining equipment market is segmented into rented/leased and new purchase.
- On the basis of operating weight, the Africa underground mining equipment market is segmented into more than 14,000kg and less than 14000 kg.
- On the basis of propulsion type, the Africa underground mining equipment market is segmented into diesel, electric and CNG/LNG/RNG.
Regional Insights: South Africa dominate the Africa Underground Mining Equipment Market
South Africa holds a dominant position in the Africa underground mining equipment market due to substantial investments and abundant reserves of gold and platinum. Similarly, Congo, D.R. leads the region with increasing investments in cobalt, copper, and diamonds. Egypt's prominence in mining is attributed to its rich deposits of gold, copper, silver, and zinc, positioning the country as a significant player in the mining industry.
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Recent Development
- In 2021, Liebherr has partnered with Hexagon to usher in the next era of mine automation, showcasing the compatibility of its autonomous solutions. By merging Hexagon's cutting-edge technologies with Liebherr's advanced autonomous offerings, they enhance on-board intelligence, reduce reliance on site infrastructure, and centralized supervision. This collaboration has enriched Liebherr's product lineup in the automation systems domain, resulting in significant advancements in artificial intelligence and machine learning
- In 2021, At the World of Concrete 2021 event, Hyundai Doosan Infracore introduced the DL380-7, a member of its latest -7 Series wheel loaders. Serving as the successor to the DL350-5, the Doosan DL380-7 represents the company's next-gen wheel loader. Notably, the DL380-7 features a standard bucket with 7% more capacity than its predecessor, the DL350-5. This enhancement translates into improved rear visibility and increased productivity for the loader, marking a significant advancement
The Prominent Key Players Operating in the Africa Underground Mining Equipment Market Include:
- AARD Mining Equipment (South Africa)
- AB Volvo (Sweden)
- BELAZ (Belarus)
- Boart Longyear (U.S.)
- Caterpillar (U.S.)
- Epiroc AB (Sweden)
- FLSmidth (Denmark)
- Hitachi Construction Machinery Co., Ltd (Japan)
- Hyundai Doosan Infracore (South Korea)
- Komatsu Ltd. (Japan)
- Liebherr (Switzerland)
- Liugong Machinery Co., Ltd. (China)
- Metso Outotec (Finland)
- MINE MASTER LTD (Poland)
- QINGDAO FAMBITION HEAVY MACHINERY CO., LTD. (China)
- RDH-SCHARF (Canada)
- Sandvik AB (Sweden)
- SANY Groups (China)
- Terex Corporation (U.S.)
- XCMG Group (China)
Above are the key players covered in the report, to know about more and exhaustive list of Africa underground mining equipment market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Africa Underground Mining Equipment Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
