North America Underground Mining Vehicle Market Size was worth US$ 22 Billion in the year 2022 and is expected to reach at a CAGR of 5.0% between 2022 and 2031.
The underground mining machine is chiefly propelled by its power. The ability of LHD, LPDT, and underground haulers to move goods from the mine to a desired location (where they can subsequently be further processed) is another factor that boosts the appeal of underground mining vehicles. The shearer, which is used to collect ore and coal from mines and crush material/metal rocks into smaller granules, is one of the most crucial production/support tools.
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In North America, Ground Support has complete and exclusive control over the underground mining vehicle market. Collecting coal, metals, and other ores requires more and more shearers, roof bolters, and scalers. The two main categories of mining are metallic and nonmetallic. Regional rivals, who are favoured by clients owing to their proximity, are also joining the market. The North America Underground Mining vehicle would be badly abused in this manner.
This information is included in Future Market Insights’ most current market report, “North America Underground Mining Vehicle Market,” along with forecasts for the future. The company’s analysts and consultants use a 360-degree approach to conduct primary, secondary, and tertiary research.
According to a Future Market Insights researcher, the North American underground mining vehicle market “is likely to grow on a good note in the forecast period” due to increased investments in underground mining research.
Key Takeaways from North America Underground Mining Vehicle Market
Although there are several companies offering rental services, the US holds the largest market share. In addition, as underground mining vehicle owners work to cut maintenance costs, the key players are emphasising long-term collaboration with small mine operators. In this regard, Canada isn’t far behind either.
Competitive Mining Vehicles
- Astec Industries has its underground mining vehicles for extracting precious minerals from the earth. They include silver, gold, ore, zinc, copper, lead, nickel, and likewise. The application areas of extracted minerals include cleaning detergents, electronics parts, batteries, water treatment, medicines, bricks, trains, airplanes, trains, and food as well.
- Getman Corporation acts as a good supplier of customer-focused solutions for underground mining industry. The products are known to be reliable and serviceable.
Key Companies Profiled
- Caterpillar Inc.
- Sandvik AB
- Epiroc AB
- Komatsu Ltd.
- Boart Longyear Ltd.
- Hitachi Construction Machinery
- Liebherr Group
- Sany Heavy Industry Co. Ltd.
- Volvo Construction Equipment
- Astec Industries Inc
- C. Bamford Excavators Ltd. (JCB)
- Normet
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North America Underground Mining Vehicle Market by Category
By Equipment Type:
- Ground Support
- Roof Bolter
- Scalers
- Shotcrete Sprayers
- Shearers
- Production Equipment
- LPDT
- LHD
- Underground Haulers
- Scrapers
- Dozers
- Mining Drills
- Continuous Miners
- Mining Excavators and Shovels
- Others (Shaft Sinking Equipment, Feeder Breaker, etc.)
- Utility Equipment
- Scissor Lift
- Personnel Carrier Truck
- Boom Truck
- Fuel Lube Trucks
- Remixers
- Others
By Ownership:
- Mining Operators
- Rental Service Provider
By Application:
- Coal Mining
- Metallic Mining
- Precious Metals Mining
- Non-Precious Metals Mining
- Non-Metallic Minerals Mining
By Country:
- S.
- Canada
- Mexico
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