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Underground Mining Equipment
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Competitive Intelligence

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Intelligence covers market and price outlook, SWOT analysis, demand & supply drivers, engagement models and Procurement best practices

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Intelligence on category covers the following aspects market outlook, supply market, SWOT analysis, Cost components & Price outlook, Demand and supply drivers, Engagement Models and Procurement Best Practices

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Supplier assessment covers the following parameters Financial Risk, Ethical, Labor, Environmental Compliance, IT Security.

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Measure category performance on 15 key parameters across cost, risk and strategy KPIs

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Source Macro Data and Market Indices information from leading data sources across these key areas - Labor Rates, Currency, Energy, Country Risk, Trade Flow/Transportation, Port Data, Tariff, Weather and Epidemics

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Abi will answer all Underground Mining Equipment related
procurement queries with relevant data points

Abi - AI powered digital procurement assistant

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Get up-to-date market and supplier info on Underground Mining Equipment to help you build

Intelligence covers market and price outlook, SWOT analysis, demand & supply drivers, engagement models and Procurement best practices

1

Intelligence on category covers the following aspects market outlook, supply market, SWOT analysis, Cost components & Price outlook, Demand and supply drivers, Engagement Models and Procurement Best Practices

manage-risk

Assess Supplier Risk based on key risk and compliance parameters

1

Supplier assessment covers the following parameters Financial Risk, Ethical, Labor, Environmental Compliance, IT Security.

2

Supplier assessment is powered by world’s leading data partners including D&B, CreditSafe, Dow Jones, Refinitiv, Orpheus

discover-supplier

Identify right fit suppliers based on your selection criteria including revenue, capabilities, certification, geography

1

Select suppliers based on industry, country, classification from a database of 4.2 mn suppliers. Get detailed supplier profiles with supplier capabilities, revenue, certifications, risk ratings

assess-category-perforamnce

Benchmark your category performance against peers and the market

1

Measure category performance on 15 key parameters across cost, risk and strategy KPIs

source-market-indices

Get information on key factors affecting your supply

1

Source Macro Data and Market Indices information from leading data sources across these key areas - Labor Rates, Currency, Energy, Country Risk, Trade Flow/Transportation, Port Data, Tariff, Weather and Epidemics

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Report Coverage

  • Cost Break-up–UGME
  • Price Driver Analysis
  • Key Global Supplier Profiles
  • Supply Chain Analysis-UG Mining Equipment

Market Size

CAGR

4 - 5 Percent

Market Size North America

$ 2.9 Bn

Market Size Asia Pacific

$ 13 Bn

Market Size Middle East - Asia

$ 7.7 Bn

Table of contents

  1. Underground Mining Equipment Executive Summary
  2. Market Overview
  3. Regional Overview
  4. Covid-19 Impact Assessment
  1. Underground Mining Equipment Market Analysis
  2. Market Maturity
  3. Global Market Overview
  4. Global Demand by Application
  1. Underground Mining Equipment Regional Market Analysis
  2. APAC
  3. North America
  4. South America
  5. EMEA
  1. Underground Mining Equipment Industry Analysis
  2. Porter's Five Force Analysis
  3. Drivers and Constraints
  4. Commodity Price Trend
  1. Cost and Price Analysis
  2. Cost Structure Analysis
  3. Cost Driver Analysis
  4. Price Trend and Forecast

 

  1. Procurement Insights
  2. LCCS Analysis
  3. Sustainability Initiatives
  4. Covid-19 Impact Assessment

 

  1. Industry Practices
  2. Sourcing Channels
  3. Industry Practices
  4. Contract Structure by Suppliers

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Global Market Outlook on Underground Mining Equipment

  • The APAC and Latin America regions are expected to drive the Underground Mining Equipment (UGME) demand during 2019–2022. Increased infrastructural development projects and oil & gas/mineral exploration activities, primarily Asia Pacific and Latin America, are expected to support the growth in UGME during the period
  • Expected recovery of the construction activity across major economies will potentially drive the demand for metals, thereby, supporting an increase in metal prices. The same is expected to support the UGME market

 

Global Demand by Application

  • Demand growth is expected to arise from underground mining of metals, such as copper, nickel, zinc, and iron ore. The global metals output is expected to increase by an average of 2–4 percent during 2016–2018, thereby supporting the demand for UGME
  • Increase in exploration activities in China, India, Brazil, Australia, and Africa are expected to be the key contributors to the UGME demand at the global level during 2017–2019

Market Driver- Commodity Price

  • Prices of key commodities are the best indicators of mining activities and which in turn evinces the demand for mining equipment
  • In Q3 2018, from July 2018 to September 2018, apart from coal , gold and Aluminum (which is expected to decrease by an average of 7-8 percent), average commodity prices for the rest is expected to increase by an average of 1-2 percent as compared to last quarters average
  • Demand for commodities increased tremendously as the economy recovered from the economic recession in 2009. 2010 and 2011 saw a boom in mining activity due to high demand for raw materials

  • Late 2013 and 2014 witnessed a slowdown in mining, resulting in the reduced demand for mining equipment

  • Again, 2014–2015 witnessed reduced demand; however, it is expected to uptrend in the coming years. Apart from nickel prices, the average commodity prices for the rest is expected to increase by 6–7percent Y-o-Y from 2017 until 2018

Summary

The underground mining equipment market size was $24.5 billion in 2017 and it is expected to grow at a CAGR of up to 5 percent in the coming years. The key end-use application industries include coal mining and metal mining. While metal mining accounts for 39 percent, coal mining accounts for 40 percent. The underground mining equipment market is mainly going to be driven by certain APAC regions such as India, China, and Australia. The market will also be driven by Africa and the LATAM regions in the next few years because the demand for UGME from these regions is expected to increase.

The high maturity regions in the UGME market include Asia, North America, and Australia. The medium and low market maturity regions include South America, Europe, and Africa. The buyer has low to medium negotiation power while the supplier has medium to high negotiation power. The construction activity is expected to increase in the future and so the metal demand will also increase. This can lead to an increase in metal prices. There are two impactful cost components; labor and HRC steel. HRC steel accounts for 40 percent to 50 percent while labor accounts for 20 percent to 25 percent.

The top global suppliers in the underground mining equipment market are Caterpillar, Sany, Sandvik, Joy Global, and Atlas Copco. In Brazil, Africa, and Australia, iron ore exploration is the reason for the increase in market demand. An increase in mineral and gas exploration and infrastructure development will help the UGME market growth. This will be witnessed in regions such as Australia, China, and India. Underground mining will increase because of the lower ore grades in open cast mines. This will help push the growth of the UGME market. Mine mechanization will also help the growth of the market.

North America’s market size is over $2 billion while the market size of the Middle East – Asia is nearly $7 billion. The market size of the Asia Pacific is more than $11.5 billion. The global metals output is predicted to increase by up to 4 percent and this will help the growth of the UGME market. The underground mining of metals such as zinc, copper, iron, and nickel ore will lead to an increase in the demand of the market. The supply contract tenure is anywhere between five and seven years in the underground mining equipment market. The price depends on two factors; the demand and the raw material price.

The underground mining supplies will also see a change in the coming years due to capacity additions and other production-related changes. Experts predict that the demand for underground equipment can be found by focusing on commodity prices. When commodity prices change, it can indicate mining activities which can then reveal the demand of the mining equipment market. For instance, the mining activities increased because of an increase in raw material demand after the recession. After that, there was a decrease in demand which meant a lower demand for mining equipment. Experts are predicting that the demand will increase in the future.

Underground Mining Equipment Frequently Asked Questions

  1. What is the global underground mining equipment market size?
  2. The underground mining equipment market size of North America is over $2 billion, of the Middle East - Asia is about $7 billion and of Asia Pacific is more than $11.5 billion.
  1. Which are the top global players owning the maximum global underground mining equipment market share?
  2. Sandvik, Atlas Copco, Caterpillar, Joy Global, and Sany are some of the top suppliers of underground mining equipment in the global market.
  1. What is the underground mining equipment market outlook regarding the global demand by application of UGME?
  2. According to Beroe’s industry analysis, the growth in the demand of UGME is expected to come from underground mining & exploration of metals like copper, nickel, zinc, and iron ore. Besides, a major contributor to the growing demand will be the increasing exploration activities in China, India, Brazil, Australia, and Africa.
  1. Which are the end-use application industries for the underground mining equipment market?
  2. Coal mining and metal mining are the key end-use industries for the UGME market. Metal mining accounts for 39 percent of the total market, while coal mining accounts for 40 percent.
  1. Which are the high, medium and low market maturity regions in the global underground mining equipment industry?
  2. Asia, North America, and Australia are the high maturity market regions. On the other hand, the regions with medium and low market maturity are South America, Europe, and Africa.

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