The underground mining equipment market size was valued at USD 28.96 billion in 2024 and is expected to reach USD 37.93 billion by 2032, growing at a CAGR of 3.43% over the forecast period of 2025-2032.
The underground mining equipment market growth is driven by technological advancements, growing demand for minerals, and sustainability. With surface mining becoming unviable due to the dwindling resources and impact on the environment, the trend is turning to underground mining. Tunnel mining equipment and underground drilling equipment are essential to improve the safety, efficiency, and productivity of a range of these operations, allowing for the extraction of critical minerals, such as coal, metals, and rare earth elements from deeper layers of the earth.
The underground mining sector is advocating for innovation and sustainable solutions, such as electric bridge-powered equipment. This will not only contribute to lowering emissions and operational costs in achieving global environmental regulations, but also to the latest technology. Other innovations include the use of new materials to make equipment work harder, such as carbon–fiber reinforcement in mining trucks. Such innovations create opportunities, especially for the years to come in the fast-growing markets located in Asia-Pacific and Latin America, where rapid modernization combined with strict environmental legislation is making the demand for advanced mining equipment very high.
November 2024: India plans to triple its underground coal production by 2028 to meet rising energy demands. This initiative underscores the country's commitment to enhancing its underground mining capabilities.
Drivers:
Autonomous and electric tech boosts efficiency, safety, and sustainability in underground mining
With the rapid advancement of tunnel mining equipment and underground drilling, underground mining equipment is driving the macro-economic growth and trends in diverse industries. For autonomous vehicles, fuel cell electric-powered machinery, automated underground drill rigs, and trucks are revolutionizing the mining craft. Once the new machines are followed by deployment, the TBMs will balance themselves out autonomously, and the high-tech underground drilling layout, which is further anticipated to lead us to higher-class, safer, and more cost-effective digging.
These kinds of advances cut down the manual labor, thus reducing the costs and minimizing the risk of conventional mining that makes it all more effective. Also, electric and hybrid mining equipment is used to reduce emissions and energy consumption to meet eco-friendly targets. As automation and digitalisation are ever-evolving, the underground mining sector is signalling a transformation, which not only enhances productivity but ensures a wholesome safety for workers and the environment.
In 2024: Sandvik Mining and Rock Solutions are driving a major shift in underground drilling by launching intelligent drilling rigs such as the DD422iE, which are powered by battery-electric technology and equipped with Sandvik’s iSURE software.
Rising Energy Demand is Driving Investments in Underground Mining Equipment to Boost Productivity and Meet Extraction Needs
Increasing energy resources needs, notably for coal and natural gas, are a key influence on mining developments. To satisfy the global growing requirement for energy, miners are growing their operations. As a result, the high demand drives high penetration of high-tech underground mining equipment that, in turn, enhances productivity, lowers operating costs, and increases safety during extraction. Technologies including automated drilling systems, electric mining machines, are gaining popularity to optimize energy to enhance the efficiency of mining operations. Moreover, the sustainable mining practices in the market are a factor that initiates innovation to promote cleaner technologies to reduce the environmental footprint.
Restraints:
Ongoing Safety Risks in Underground Mining Pose a Major Challenge To Market Growth
Despite advances in safety technology, safety and risk remain one of the biggest challenges the underground mining sector faces. Underbelly operations are inborn perilous, with the dangers of cave-ins, gas spills, and equipment glitches always lurking around. While innovations, such as automatic drilling and real-time monitoring systems have made safety better, these risks continue to be a major challenge for mining firms. To solve these issues, safety protocols, better ventilation systems, and advanced machinery have been introduced to minimize these threats. Nevertheless, safety concerns are often a major cause of operational delays, higher costs and cumbersome compliance with regulations, which limit productivity. Consequently, there is pressure on the mining companies to present an intelligent and secure safety solution, evolving better measures against such concerns.
In September 2024, a methane gas explosion at the Tabas Parvadeh 5 coal mine in Iran killed at least 51 miners and injured 20 others. The explosion trapped 69 workers, and rescue efforts were delayed due to high methane concentrations. Despite safety measures, the incident highlights the ongoing risks of gas accumulation in underground mining, emphasizing the need for better safety protocols and emergency preparedness.
By Equipment Type
The loaders segment holds a dominant share of 32% in 2024 as they are crucial in loading the excavated material in underground mining operations, which further increases their popularity. Loaders are also used for transporting materials from underground mines up to the surface and also enable continuous and effective mining. From material diversity to productivity, the versatility of these machines is one of the reasons why they are one of the most important machines for all types of mining applications. Consequently, loaders continue to be one of the most critical equipment for underground mining, and this has helped them be in prominent positions in the market with continuous demand for effective and reliable solutions for material handling.
The trucks segment in the underground mining equipment market is experiencing rapid growth, due to growing demand for the transportation of mined materials efficiently in underground environments. Design enhancements with advancements in technology make trucks safer, operationally more efficient, and capable, making them ideal for modern mining. As the industry becomes more automated, trucks are more advanced, more fuel-efficient, and have higher payload capacities. This trend is likely to accelerate as mining operations blossom with trucks lined up for notable growth due to the technological advancements, combined with the demand for more streamlined transport solutions, gain traction.
By Mining Method
The longwall mining segment leads the market with a 42% share in 2024, driven by its efficiency in extracting large volumes of coal or minerals from deep underground. It uses large machines to slice and extract huge panels of coal, which is perfect for large mining operations. The system's continuous operation and very low downtime, and a high degree of mechanization, guarantee safety and performance in difficult underground conditions. Longwall mining represents an objectively preferable method given its many advantages and is therefore preferred by mines with significant, high-grade ore deposits, allowing longwall mining to maintain the lion’s share of the market.
Room and pillar mining is the fastest-growing segment in the underground mining equipment market due to its cost-effectiveness and versatility, particularly for smaller to medium-sized deposits. Room and pillar differ from longwall mining in that it is more fit for the irregularity of ore bodies and for mines where the full extraction is not required and which impacts the ability of mines to be so large in their trenching. The operational cost-effectiveness and flexibility of this method appeal to many different types of mining companies. Blast mining and sublevel caving largely find their use-cases, but Room and pillar mining has emerged suited for wider adoption grounds.
By Application
Coal mining continues to dominate the underground mining equipment market accounting for a significant share due to its long-established global demand. In 2024, it represented 48% of the market due to the continuous demand of coal for power generation, industrial purposes, and steel production. Coal is an essential energy source in various locations, even with the increasing emphasis on renewable energy. They will continue to dominate the demand for high-tech underground mining equipment, such as continuous miners, shuttle cars, and longwall mining systems, bolstered by improvements in safety, productivity, and efficiency in coal extraction.
The metal mining segment is the fastest-growing application in the underground mining equipment market, primarily driven by the high demand for essential metals, such as copper, gold, and lithium, which are widely used in the electronics, renewable energy, and automotive industries. The transition to EVs and decarbonisation more generally has boosted demand for metals, especially lithium and cobalt. Since the extraction of these metals is mostly done via underground mining, there is a growing demand for advanced mining equipment that is customized for metal extraction.
The Asia Pacific region dominated the underground mining equipment market share of 38% in 2023, due to the significant presence of major mining countries, such as China, India, Australia, and Indonesia. As one of the biggest producers of coal and other minerals, China is one of the key countries determining the fate of underground mining equipment with higher technological content. Heavy demand for metals and minerals from developing economies and massive mining projects also helps solidify the places in the region. Moreover, the rise in infrastructure development, urbanization, and industrialization in the Asia Pacific countries has raised the requirement for mining operations, which, in turn, increases the demand for underground mining equipment that operates efficiently and safely.
China leads the underground mining equipment market in the Asia Pacific region due to its large mineral reserves and extensive mining operations. Major market growth is spurred by the country’s large need for coal and other minerals. As a result, China has become the dominant player in the underground mining space.
North America is experiencing rapid growth in the underground mining equipment market due to several factors, including increasing investments in mining infrastructure, technological advancements, and a rising demand for minerals. This growth is accelerated with the contribution from the well-established mining industry, such as that owned by the U.S. and Canada. The second key factor that is boosting the demand for advanced mining equipment is the focus on automation and the incorporation of technologies such as autonomous mining equipment and data-driven solutions that promote efficiency and safety.
The U.S. underground mining equipment market size is projected to grow from USD 5.14 billion in 2024 to USD 6.93 billion in 2032, at a CAGR of 3.80%. It signifies the growing need for more sophisticated mining technologies and a movement toward greater safety and efficiency in mining operations. A similar steady growth in the U.S. market results from the country continually investing in mining infrastructure and discovering new minerals.
Canada's underground mining equipment market is expected to grow from USD 0.97 billion in 2024 to USD 1.42 billion in 2032, with a CAGR of 4.85%. This increase can be attributed to the availability of minerals in Canada and a focus on sustainable and innovative mining practices. Based on the trend in Canada, the mining industry is constantly evolving as well with investments in automation and safety technologies for increasing mining operational efficiencies.
The underground mining equipment companies are Boart Longyear, Komatsu, XCMG Group, J.H. Fletcher & Co., Schmidt Kranz & Co. GmbH, Sandvik AB, Sany Group, Epiroc AB, Getman Corporation, and Zibo God Rock Mining Machinery Co., Ltd.
Underground Mining Equipment Market Trends are:
In September 2024: Komatsu presented an expanded underground mining equipment range at MINExpo 2024 in Las Vegas, featuring the WX15 Load-Haul-Dump (LHD) machine and HX45 mining truck, a move following their acquisition of GHH Group GmbH.
In May 2024, Sandvik secured a significant underground mining equipment order from Hindustan Zinc Limited, worth around USD 35.83 million, to enhance their fleet with additional drills, trucks, and loaders.
In March 2025, Sandvik secured a substantial underground mining equipment order from Compañia de Minas Buenaventura in Peru, valued at about USD 33.24 million, with deliveries set to start in the third quarter of 2025.
| Report Attributes | Details |
|---|---|
| Market Size in 2024 | USD 28.96 Billion |
| Market Size by 2032 | USD 37.93 Billion |
| CAGR | CAGR of 3.43% From 2025 to 2032 |
| Base Year | 2024 |
| Forecast Period | 2025-2032 |
| Historical Data | 2021-2023 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Equipment Type (Loaders, Trucks, Bolters, Drills, Others [Feeder Breakers and Haulage Systems]) • By Mining Method (Longwall Mining, Room and Pillar Mining, Blast Mining, Others [Sublevel Caving]) • By Application (Coal Mining, Metal Mining, Mineral Mining) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, Poland, Turkey, Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Boart Longyear, Komatsu, XCMG Group, J.H. Fletcher & Co., Schmidt Kranz & Co. GmbH, Sandvik AB, Sany Group, Epiroc AB, Getman Corporation, Zibo God Rock Mining Machinery Co., Ltd |
Ans: The Underground Mining Equipment Market is expected to grow at a CAGR of 3.43% from 2025-2032.
Ans: The Underground Mining Equipment Market was USD 28.96 billion in 2024 and is expected to reach USD 37.93 billion by 2032.
Ans: Technological advancements in underground mining, such as autonomous and electric-powered equipment, are improving efficiency, safety, and sustainability.
Ans: The “Coal Mining” segment dominated the Underground Mining Equipment Market.
Ans: The Asia-Pacific region dominated the Underground Mining Equipment Market in 2024.
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Utilization Rates, by Region (2020–2023)
5.2 Maintenance and Downtime Metrics
5.3 Technological Adoption Rates, by Region
5.4 Smart Equipment Integration Trends
5.5 Export/Import Data, by Region (2023)
6. Competitive Landscape
6.1 List of Major Companies, By Region
6.2 Market Share Analysis, By Region
6.3 Product Benchmarking
6.3.1 Product specifications and features
6.3.2 Pricing
6.4 Strategic Initiatives
6.4.1 Marketing and promotional activities
6.4.2 Distribution and Supply Chain Strategies
6.4.3 Expansion plans and new Product launches
6.4.4 Strategic partnerships and collaborations
6.5 Technological Advancements
6.6 Market Positioning and Branding
7. Underground Mining Equipment Market Segmentation by Equipment Type
7.1 Chapter Overview
7.2 Loaders
7.2.1 Loaders Market Trends Analysis (2021-2032)
7.2.2 Loaders Market Size Estimates and Forecasts to 2032 (USD Billion)
7.3 Trucks
7.3.1 Trucks Market Trends Analysis (2021-2032)
7.3.2 Trucks Market Size Estimates and Forecasts to 2032 (USD Billion)
7.4 Bolters
7.4.1 Bolters Market Trends Analysis (2021-2032)
7.4.2 Bolters Market Size Estimates and Forecasts to 2032 (USD Billion)
7.5 Drills
7.5.1 Drills Market Trends Analysis (2021-2032)
7.5.2 Drills Market Size Estimates and Forecasts to 2032 (USD Billion)
7.6 Others (Feeder Breakers and Haulage Systems)
7.6.1 Others (Feeder Breakers and Haulage Systems) Market Trends Analysis (2021-2032)
7.6.2 Others (Feeder Breakers and Haulage Systems) Market Size Estimates and Forecasts to 2032 (USD Billion)
8. Underground Mining Equipment Market Segmentation by Mining Method
8.1 Chapter Overview
8.2 Longwall Mining
8.2.1 Longwall Mining Market Trend Analysis (2021-2032)
8.2.2 Longwall Mining Market Size Estimates and Forecasts to 2032 (USD Billion)
8.3 Room and Pillar Mining
8.3.1 Room and Pillar Mining Market Trends Analysis (2021-2032)
8.3.2 Room and Pillar Mining Market Size Estimates and Forecasts to 2032 (USD Billion)
8.4 Blast Mining
8.4.1 Blast Mining Market Trends Analysis (2021-2032)
8.4.2 Blast Mining Market Size Estimates and Forecasts to 2032 (USD Billion)
8.5 Others (Sublevel Caving)
8.5.1 Others (Sublevel Caving) Market Trends Analysis (2021-2032)
8.5.2 Others (Sublevel Caving) Market Size Estimates and Forecasts to 2032 (USD Billion)
9. Underground Mining Equipment Market Segmentation by Application
9.1 Chapter Overview
9.2 Coal Mining
9.2.1 Coal Mining Market Trends Analysis (2021-2032)
9.2.2 Coal Mining Market Size Estimates and Forecasts to 2032 (USD Billion)
9.3 Metal Mining
9.3.1 Metal Mining Market Trends Analysis (2021-2032)
9.3.2 Metal Mining Market Size Estimates and Forecasts to 2032 (USD Billion)
9.4 Mineral Mining
9.4.1 Mineral Mining Market Trends Analysis (2021-2032)
9.4.2 Mineral Mining Market Size Estimates and Forecasts to 2032 (USD Billion)
10. Regional Analysis
10.1 Chapter Overview
10.2 North America
10.2.1 Trends Analysis
10.2.2 North America Underground Mining Equipment Market Estimates and Forecasts, by Country (2021-2032) (USD Billion)
10.2.3 North America Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.2.4 North America Underground Mining Equipment Market Estimates and Forecasts, by Mining Method (2021-2032) (USD Billion)
10.2.5 North America Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
10.2.6 USA
10.2.6.1 USA Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.2.6.2 USA Underground Mining Equipment Market Estimates and Forecasts, by Mining Method (2021-2032) (USD Billion)
10.2.6.3 USA Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
10.2.7 Canada
10.2.7.1 Canada Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.2.7.2 Canada Underground Mining Equipment Market Estimates and Forecasts, by Mining Method (2021-2032) (USD Billion)
10.2.7.3 Canada Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
10.2.8 Mexico
10.2.8.1 Mexico Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.2.8.2 Mexico Underground Mining Equipment Market Estimates and Forecasts, by Mining Method (2021-2032) (USD Billion)
10.2.8.3 Mexico Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
10.3 Europe
10.3.1 Trends Analysis
10.3.2 Eastern Europe Underground Mining Equipment Market Estimates and Forecasts, by Country (2021-2032) (USD Billion)
10.3.3 Eastern Europe Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.3.4 Eastern Europe Underground Mining Equipment Market Estimates and Forecasts, by Mining Method (2021-2032) (USD Billion)
10.3.5 Eastern Europe Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
10.3.6 Germany
10.3.6.1 Germany Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.3.6.2 Germany Underground Mining Equipment Market Estimates and Forecasts, by Mining Method (2021-2032) (USD Billion)
10.3.6.3 Germany Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
10.3.7 France
10.3.7.1 France Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.3.7.2 France Underground Mining Equipment Market Estimates and Forecasts, by Mining Method (2021-2032) (USD Billion)
10.3.7.3 France Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
10.3.8 UK
10.3.8.1 UK Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.3.8.2 UK Underground Mining Equipment Market Estimates and Forecasts, by Mining Method (2021-2032) (USD Billion)
10.3.8.3 UK Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
10.3.9 Italy
10.3.9.1 Italy Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.3.9.2 Italy Underground Mining Equipment Market Estimates and Forecasts, by Mining Method (2021-2032) (USD Billion)
10.3.9.3 Italy Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
10.3.10 Spain
10.3.10.1 Spain Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.3.10.2 Spain Underground Mining Equipment Market Estimates and Forecasts, by Mining Method (2021-2032) (USD Billion)
10.3.10.3 Spain Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
10.3.11 Poland
10.3.11.1 Poland Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.3.11.2 Poland Underground Mining Equipment Market Estimates and Forecasts, by Mining Method (2021-2032) (USD Billion)
10.3.11.3 Poland Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
10.3.12 Turkey
10.3.12.1 Turkey Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.3.12.2 Turkey Underground Mining Equipment Market Estimates and Forecasts, by Mining Method (2021-2032) (USD Billion)
10.3.12.3 Turkey Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
10.3.13 Rest of Europe
10.3.13.1 Rest of Europe Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.3.13.2 Rest of Europe Underground Mining Equipment Market Estimates and Forecasts, by Mining Method (2021-2032) (USD Billion)
10.3.13.3 Rest of Europe Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
10.4 Asia Pacific
10.4.1 Trends Analysis
10.4.2 Asia Pacific Underground Mining Equipment Market Estimates and Forecasts, by Country (2021-2032) (USD Billion)
10.4.3 Asia Pacific Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.4.4 Asia Pacific Underground Mining Equipment Market Estimates and Forecasts, by Mining Method (2021-2032) (USD Billion)
10.4.5 Asia Pacific Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
10.4.6 China
10.4.6.1 China Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.4.6.2 China Underground Mining Equipment Market Estimates and Forecasts, by Mining Method (2021-2032) (USD Billion)
10.4.6.3 China Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
10.4.7 India
10.4.7.1 India Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.4.7.2 India Underground Mining Equipment Market Estimates and Forecasts, by Mining Method (2021-2032) (USD Billion)
10.4.7.3 India Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
10.4.8 Japan
10.4.8.1 Japan Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.4.8.2 Japan Underground Mining Equipment Market Estimates and Forecasts, by Mining Method (2021-2032) (USD Billion)
10.4.8.3 Japan Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
10.4.9 South Korea
10.4.9.1 South Korea Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.4.9.2 South Korea Underground Mining Equipment Market Estimates and Forecasts, by Mining Method (2021-2032) (USD Billion)
10.4.9.3 South Korea Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
10.4.10 Singapore
10.4.10.1 Singapore Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.4.10.2 Singapore Underground Mining Equipment Market Estimates and Forecasts, by Mining Method (2021-2032) (USD Billion)
10.4.10.3 Singapore Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
10.4.11 Australia
10.4.11.1 Australia Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.4.11.2 Australia Underground Mining Equipment Market Estimates and Forecasts, by Mining Method (2021-2032) (USD Billion)
10.4.11.3 Australia Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
10.4.12 Rest of Asia Pacific
10.4.12.1 Rest of Asia Pacific Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.4.12.2 Rest of Asia Pacific Underground Mining Equipment Market Estimates and Forecasts, by Mining Method (2021-2032) (USD Billion)
10.4.12.3 Rest of Asia Pacific Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
10.5 Middle East and Africa
10.5.1 Trends Analysis
10.5.2 Middle East Underground Mining Equipment Market Estimates and Forecasts, by Country (2021-2032) (USD Billion)
10.5.3 Middle East Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.5.4 Middle East Underground Mining Equipment Market Estimates and Forecasts, by Mining Method (2021-2032) (USD Billion)
10.5.5 Middle East Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
10.5.6 UAE
10.5.6.1 UAE Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.5.6.2 UAE Underground Mining Equipment Market Estimates and Forecasts, by Mining Method (2021-2032) (USD Billion)
10.5.6.3 UAE Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
10.5.7 Saudi Arabia
10.5.7.1 Saudi Arabia Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.5.7.2 Saudi Arabia Underground Mining Equipment Market Estimates and Forecasts, by Mining Method (2021-2032) (USD Billion)
10.5.7.3 Saudi Arabia Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
10.5.8 Qatar
10.5.8.1 Qatar Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.5.8.2 Qatar Underground Mining Equipment Market Estimates and Forecasts, by Mining Method (2021-2032) (USD Billion)
10.5.8.3 Qatar Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
10.5.9 South Africa
10.5.9.1 South Africa Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.5.9.2 South Africa Underground Mining Equipment Market Estimates and Forecasts by Mining Method (2021-2032) (USD Billion)
10.5.9.3 South Africa Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
10.5.10 Rest of Middle East & Africa
10.5.10.1 Rest of Middle East & Africa Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.5.10.2 Rest of Middle East & Africa Underground Mining Equipment Market Estimates and Forecasts, by Mining Method (2021-2032) (USD Billion)
10.5.10.3 Rest of Middle East & Africa Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
10.6 Latin America
10.6.1 Trends Analysis
10.6.2 Latin America Underground Mining Equipment Market Estimates and Forecasts, by Country (2021-2032) (USD Billion)
10.6.3 Latin America Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.6.4 Latin America Underground Mining Equipment Market Estimates and Forecasts, by Mining Method (2021-2032) (USD Billion)
10.6.5 Latin America Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
10.6.6 Brazil
10.6.6.1 Brazil Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.6.6.2 Brazil Underground Mining Equipment Market Estimates and Forecasts, by Mining Method (2021-2032) (USD Billion)
10.6.6.3 Brazil Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
10.6.7 Argentina
10.6.7.1 Argentina Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.6.7.2 Argentina Underground Mining Equipment Market Estimates and Forecasts, by Mining Method (2021-2032) (USD Billion)
10.6.7.3 Argentina Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
10.6.8 Rest of Latin America
10.6.8.1 Rest of Latin America Underground Mining Equipment Market Estimates and Forecasts, by Equipment Type (2021-2032) (USD Billion)
10.6.8.2 Rest of Latin America Underground Mining Equipment Market Estimates and Forecasts, by Mining Method (2021-2032) (USD Billion)
10.6.8.3 Rest of Latin America Underground Mining Equipment Market Estimates and Forecasts, by Application (2021-2032) (USD Billion)
11. Company Profiles
11.1 Boart Longyear
11.1.1 Company Overview
11.1.2 Financial
11.1.3 Product/ Services Offered
11.1.4 SWOT Analysis
11.2 Komatsu
11.2.1 Company Overview
11.2.2 Financial
11.2.3 Product/ Services Offered
11.2.4 SWOT Analysis
11.3 XCMG Group
11.3.1 Company Overview
11.3.2 Financial
11.3.3 Product/ Services Offered
11.3.4 SWOT Analysis
11.4 J.H. Fletcher & Co.
11.4.1 Company Overview
11.4.2 Financial
11.4.3 Product/ Services Offered
11.4.4 SWOT Analysis
11.5 Schmidt Kranz & Co. GmbH
11.5.1 Company Overview
11.5.2 Financial
11.5.3 Product/ Services Offered
11.5.4 SWOT Analysis
11.6 Sandvik AB
11.6.1 Company Overview
11.6.2 Financial
11.6.3 Product/ Services Offered
11.6.4 SWOT Analysis
11.7 Sany Group
11.7.1 Company Overview
11.7.2 Financial
11.7.3 Product/ Services Offered
11.7.4 SWOT Analysis
11.8 Epiroc AB
11.8.1 Company Overview
11.8.2 Financial
11.8.3 Product/ Services Offered
11.8.4 SWOT Analysis
11.9 Getman Corporation
11.9.1 Company Overview
11.9.2 Financial
11.9.3 Product/ Services Offered
11.9.4 SWOT Analysis
11.10 Zibo God Rock Mining Machinery Co., Ltd
11.10.1 Company Overview
11.10.2 Financial
11.10.3 Product/ Services Offered
11.10.4 SWOT Analysis
12. Use Cases and Best Practices
13. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
By Equipment Type
Loaders
Trucks
Bolters
Drills
Others (Feeder Breakers and Haulage Systems)
By Mining Method
Longwall Mining
Room and Pillar Mining
Blast Mining
Others (Sublevel Caving)
By Application
Coal Mining
Metal Mining
Mineral Mining
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North America
US
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Poland
Turkey
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
UAE
Saudi Arabia
Qatar
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
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Available Customization
With the given market data, SNS Insider offers customization as per the company’s specific needs. The following customization options are available for the report:
Detailed Volume Analysis
Criss-Cross segment analysis (e.g. Product X Application)
Competitive Product Benchmarking
Geographic Analysis
Additional countries in any of the regions
Customized Data Representation
Detailed analysis and profiling of additional market players
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