About Contact Us Careers
Sign In

Underground Mining Market Trends

  • Report ID: 3430
  • Published Date: Jul 24, 2024
  • Report Format: PDF, PPT

Table of Content (TOC)

 

  1. Introduction
    1. Market Definition
    2. Market Segmentation
    3. Country Overview
  2. Assumptions and Abbreviations
  3. Research Methodology
    1. Primary Research
      1. Manufacturers
      2. Suppliers/Distributors
      3. End-Users
    2. Secondary Research
    3. Market Size Estimation
  4.  Summary of the Report for Key Decision Makers
  5. Forces of the Market Constituents
    1. Factors/drivers impacting the growth of the market
    2. Market trends for better business practices
  6. Key Market Opportunities for Business Growth
  7. Major Roadblocks for the Market Growth
  8. Government Regulations
  9. Value Chain Analysis
  10. Porter’s Five Forces Analysis
  11. Industry Risk Analysis
  12. Impact of COVID-19 on Global Underground Mining Market
  13. Competitive Positioning: Strategies to Differentiate a Company from its Competitors
  14. Competitive Model: A Detailed Inside View for Investors
    1. Market Share Analysis of Major Players (%), 2023
    2. Competitive Benchmarking
    3. Business Profiles of Key Enterprises
    4. Komatsu Ltd
    5. Mine Master
    6. Boart Longyear
    7. MacLean Engineering & Marketing Co.
    8. J.H. Fletcher & Co., Inc.
    9. Sandvik AB
    10. Caterpillar Inc.
    11. EPIROC AB
    12. Hager Equipment Company
    13. Normet Group
    14. Other prominent players
  15. Global Underground Mining Market 2023-2036
    1. Market Overview
    2. By Value (USD Million)
      1. By Mining
        1. Longwall Extraction, 2023-2036F (USD Million)
        2. Room and Pillar Extraction, 2023-2036F (USD Million)
        3. Others, 2023-2036F (USD Million)
      2. By Application
        1. Coal, 2023-2036F (USD Million)
        2. Metal, 2023-2036F (USD Million)
        3. Mineral, 2023-2036F (USD Million)
      3. By Region
        1. North America, 2023-2036F (USD Million)
        2. Europe, 2023-2036F (USD Million)
        3. Asia Pacific, 2023-2036F (USD Million)
        4. Latin America, 2023-2036F (USD Million)
        5. Middle East & Africa, 2023-2036F (USD Million)
  16. North America Underground Mining Market 2023-2036
    1. Market Overview
    2. By Value (USD Million)
      1. By Mining
        1. Longwall Extraction, 2023-2036F (USD Million)
        2. Room and Pillar Extraction, 2023-2036F (USD Million)
        3. Others, 2023-2036F (USD Million)
      2. By Application
        1. Coal, 2023-2036F (USD Million)
        2. Metal, 2023-2036F (USD Million)
        3. Mineral, 2023-2036F (USD Million)
      3. By Country
        1. United States, 2023-2036F (USD Million)
        2. Canada, 2023-2036F (USD Million)
  17. Europe Underground Mining Market 2023-2036
    1. Market Overview
    2. By Value (USD Million)
      1. By Mining
        1. Longwall Extraction, 2023-2036F (USD Million)
        2. Room and Pillar Extraction, 2023-2036F (USD Million)
        3. Others, 2023-2036F (USD Million)
      2. By Application
        1. Coal, 2023-2036F (USD Million)
        2. Metal, 2023-2036F (USD Million)
        3. Mineral, 2023-2036F (USD Million)
      3. By Country
        1. United Kingdom, 2023-2036F (USD Million)
        2. Germany, 2023-2036F (USD Million)
        3. Italy, 2023-2036F (USD Million)
        4. France, 2023-2036F (USD Million)
        5. Spain, 2023-2036F (USD Million)
        6. Russia, 2023-2036F (USD Million)
        7. BENELUX, 2023-2036F (USD Million)
        8. Poland, 2023-2036F (USD Million)
        9. Rest of Europe, 2023-2036F (USD Million)
  18. Asia Pacific Underground Mining Market 2023-2036
    1. Market Overview
    2. By Value (USD Million)
      1. By Mining
        1. Longwall Extraction, 2023-2036F (USD Million)
        2. Room and Pillar Extraction, 2023-2036F (USD Million)
        3. Others, 2023-2036F (USD Million)
      2. By Application
        1. Coal, 2023-2036F (USD Million)
        2. Metal, 2023-2036F (USD Million)
        3. Mineral, 2023-2036F (USD Million)
      3. By Country
        1. China, 2023-2036F (USD Million)
        2. India, 2023-2036F (USD Million)
        3. Japan, 2023-2036F (USD Million)
        4. Singapore, 2023-2036F (USD Million)
        5. Australia, 2023-2036F (USD Million)
        6. New Zealand, 2023-2036F (USD Million)
        7. Rest of Asia Pacific, 2023-2036F (USD Million)
  19. Latin America Underground Mining Market 2023-2036
    1. Market Overview
    2. By Value (USD Million)
      1. By Mining
        1. Longwall Extraction, 2023-2036F (USD Million)
        2. Room and Pillar Extraction, 2023-2036F (USD Million)
        3. Others, 2023-2036F (USD Million)
      2. By Application
        1. Coal, 2023-2036F (USD Million)
        2. Metal, 2023-2036F (USD Million)
        3. Mineral, 2023-2036F (USD Million)
      3. By Country
        1. Brazil, 2023-2036F (USD Million)
        2. Mexico, 2023-2036F (USD Million)
        3. Rest of Latin America, 2023-2036F (USD Million)
  20. Middle East & Africa Underground Mining Market 2023-2036
    1. Market Overview
    2. By Value (USD Million)
      1. By Mining
        1. Longwall Extraction, 2023-2036F (USD Million)
        2. Room and Pillar Extraction, 2023-2036F (USD Million)
        3. Others, 2023-2036F (USD Million)
      2. By Application
        1. Coal, 2023-2036F (USD Million)
        2. Metal, 2023-2036F (USD Million)
        3. Mineral, 2023-2036F (USD Million)
      3. By Country
        1. GCC, 2023-2036F (USD Million)
        2. North Africa, 2023-2036F (USD Million)
        3. South Africa, 2023-2036F (USD Million)
        4. Rest of Middle East & Africa, 2023-2036F (USD Million)

Underground Mining Market Trends

Growth Drivers

  • Increasing Utilization of Electric Equipment Due to Environmental Concerns – Electrical equipment for underground mining is a relatively new invention. Fuel savings, increased efficiency, and increased production are the driving forces behind this innovation. In November 2022, Miller Technology launched a new, battery electric low-profile grader for underground mining, Miller’s E-Grader which was built by retrofitting a HBM-Novas 110-M low profile grader with Miller’s patented operated with Ionic drive system. Furthermore, in January 2020, the Caterpillar company and its dealer in South Africa, Barloworld, displayed electric-powered underground mining to carry out cost-efficient underground operations.
  • Technological Advancements in Underground Mining –Several underground mining manufacturers are focusing on improving products' safety to help prevent and reduce health hazards and accidents from mining activities. Technological advancements in the latest mining equipment result in the advanced protection of workforces at mining locations. In February 2022, Orica developed rock-blasting robot for safer underground mining that significantly increases worker safety and improves efficiency. Moreover, in October 2020, Caterpillar announced a new partnership with South Dakota School of Mines & Technology to explore technologies such as advanced software used to manage construction and mining operations, autonomous robotic mining, and new equipment that increases efficiency and safety.
  • Growing Need for Electricity- The power sector is primarily dependent on resources such as coal, and natural gas, for power generation which increases the need for mining and correspondingly increased the need for underground mining.

Challenges

  • Environmental Damages of Underground Mining - Underground mining leads to the possibility of land subsidence and tunnel collapses since it involves large-scale movements of waste rock and vegetation. Besides, underground mining can release numerous types of toxic compounds into the air and water. Mining releases a greenhouse gas, coal mine methane which is 20 times more powerful than carbon dioxide. For instance, fossil fuel mining is estimated to be responsible for the emission of around 34 billion tons of carbon dioxide equivalent across the globe annually. The water contaminated in this manner can pollute the region surrounding the mine and beyond.
  • High Maintenance Costs
  • Restrictive Regulation by the Government

Underground Mining Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

3.6%

Base Year Market Size (2023)

USD 24.55 Billion

Forecast Year Market Size (2036)

USD 38.89 Billion

Regional Scope
  • North America (U.S., and Canada)
  • Latin America (Mexico, Brazil, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Australia, New Zealand, Singapore, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, Poland, BENELUX, Rest of Europe)
  • Middle East and Africa (GCC North Africa, South Africa, Rest of the Middle East & Africa)
Get more information on this report: Request Free Sample PDF
Browse Key Market Insights with Data Illustration:

Author Credits:  Richa Gupta


  • Report ID: 3430
  • Published Date: Jul 24, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of underground mining is estimated at USD 25.35 Billion.

The underground mining market size was over USD 24.55 Billion in 2023 and is projected to cross USD 38.89 Billion by the end of 2036, growing at more than 3.6% CAGR during the forecast period i.e., between 2024-2036. Increasing product launches by key players, technological innovations, rising underground mining activities, and growing construction activities. are the major factors driving the market growth.

Asia Pacific industry is poised to dominate 49% revenue share by 2036, impelled by increasing mineral and coal demand in the region.

Komatsu Ltd, Mine Master, Boart Longyear, MacLean Engineering & Marketing Co., J.H. Fletcher & Co., Inc., Sandvik AB, Caterpillar Inc., EPIROC AB, Hager Equipment Company, Normet Group
Inquiry Before Buying Request Free Sample

Copyright © 2024 Research Nester. All Rights Reserved

logo
  GET A FREE SAMPLE

FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.

 Request Free Sample Copy

Have questions before ordering this report?

Inquiry Before Buying
Inquiry Before Buying Request Free Sample