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Assessment of COVID-19's Effect on Underground Mining Equipment Market 2020-2024 | Growing Demand for Cobalt Owing to Increasing Adoption of Electric Vehicles to Augment Growth | Technavio

LONDON--(BUSINESS WIRE)--Jun 22, 2020--

Technavio has been monitoring the underground mining equipment market and it is poised to grow by USD 8.50 billion during 2020-2024, progressing at a CAGR of over 6% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200622005533/en/

Technavio has announced its latest market research report titled Global Underground Mining Equipment Market 2020-2024 (Graphic: Business Wire)

Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. AARD Mining Equipment (Pty) Ltd., Atlas Copco AB, Boart Longyear Ltd., Caterpillar Inc., Guizhou Sinodrills Equipment Co. Ltd., Hitachi Construction Machinery Co. Ltd., Kennametal Inc., Komatsu Ltd., Sandvik AB, and Sulzer Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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Growing demand for cobalt owing to increasing adoption of electric vehicles has been instrumental in driving the growth of the market.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations. https://www.technavio.com/report/report/underground-mining-equipment-market-industry-analysis

Underground Mining Equipment Market 2020-2024: Segmentation

Underground Mining Equipment Market is segmented as below:

  • Application
    • Room and Pillar Mining
    • Longwall Mining
    • Borehole Mining
    • Others
  • Geographic Landscape
    • APAC
    • Europe
    • MEA
    • North America
    • South America

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR41140

Underground Mining Equipment Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The underground mining equipment market report covers the following areas:

  • Underground Mining Equipment Market Size
  • Underground Mining Equipment Market Trends
  • Underground Mining Equipment Market Analysis

This study identifies increased application of AI, DL, and ML technologies as one of the prime reasons driving the underground mining equipment market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Underground Mining Equipment Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist underground mining equipment market growth during the next five years
  • Estimation of the underground mining equipment market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the underground mining equipment market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of underground mining equipment market vendors

Table of Contents:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

  • 2.1 Preface
  • 2.2 Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis
  • Value chain analysis

PART 04: MARKET SIZING

  • Market definition
  • Market sizing 2019
  • Market outlook
  • Market size and forecast 2019-2024

PART 05: FIVE FORCES ANALYSIS

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

PART 06: MARKET SEGMENTATION BY APPLICATION

  • Market segmentation by application
  • Comparison by application
  • Room and pillar mining - Market size and forecast 2019-2024
  • Longwall mining - Market size and forecast 2019-2024
  • Borehole mining - Market size and forecast 2019-2024
  • Others - Market size and forecast 2019-2024
  • Market opportunity by application

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2019-2024
  • North America - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

  • Market drivers
  • Market challenges

PART 11: MARKET TRENDS

  • Technological advances in underground mining equipment
  • Increasing focus on conserving environment and emission control
  • Increased application of AI, DL, and ML technologies

PART 12: VENDOR LANDSCAPE

  • Overview
  • Landscape disruption
  • Competitive scenario

PART 13: VENDOR ANALYSIS

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • AARD Mining Equipment (Pty) Ltd.
  • Atlas Copco AB
  • Boart Longyear Ltd.
  • Caterpillar Inc.
  • Guizhou Sinodrills Equipment Co. Ltd.
  • Hitachi Construction Machinery Co. Ltd.
  • Kennametal Inc.
  • Komatsu Ltd.
  • Sandvik AB
  • Sulzer Ltd.

PART 14: APPENDIX

  • Research methodology
  • List of abbreviations
  • Definition of market positioning of vendors

PART 15: EXPLORE TECHNAVIO

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com:https://www.businesswire.com/news/home/20200622005533/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email:[email protected]

Website:www.technavio.com/

KEYWORD:

INDUSTRY KEYWORD: AUTOMOTIVE MINING/MINERALS AUTOMOTIVE MANUFACTURING MANUFACTURING NATURAL RESOURCES ALTERNATIVE VEHICLES/FUELS OTHER MANUFACTURING

SOURCE: Technavio Research

Copyright Business Wire 2020.

PUB: 06/22/2020 05:00 PM/DISC: 06/22/2020 05:00 PM

http://www.businesswire.com/news/home/20200622005533/en

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