North America Mining Equipment Market Is Anticipated To Grow At A CAGR Of More Than 4.83% In Value Terms by 2022-2027.
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According to the research report, "North America Mining Equipment Market Outlook, 2027," published by Actual Market Research, the mining equipment market is anticipated to grow at a CAGR of 4.83% from 2022–2027. North America plays a significant role in the global mining equipment market growth. Due to the implementation of stringent emission regulations by many regional governments, mining equipment manufacturers aim to invest more to develop fuel-efficient, low-emission, and eco-friendly equipment. For instance, in 2019, Caterpillar Inc. launched the R2900 underground loader that follows the government norms. These significant enhancements in efficiency, high OEM investments, and demands for sustainable products will augment the market growth for mining equipment in North America. Further, the North American mining equipment market is segmented into three major countries: the USA, Canada, and Mexico. The United States is expected to hold the largest market share during the forecast period. Technological advancements and rising demand for oil sands, coal, and gas are expected to drive the market in the USA. For instance, according to the Environmental Impact Assessment (EIA), the USA produced more than 755 million short tons of coal (majorly from surface mines). Also, in 2020, more than 1,000 active coal mines will be in the USA. However, the mining sector in Canada is one of the world's largest industries. Canada produces more than 60 metals and minerals.
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Major Companies present in the market: Sandvik AB, Caterpillar Inc., Komastu Limited, Volvo Group, Liebherr Group, Hitachi Construction Machinery Co., Limited, EpirocAb, Sany Heavy Equipment International Holdings Company Limited, Doosan Infracore Co. Limited, Guangxi Liugong Machinery Co., Ltd., Kobelco Construction Machinery Co., Ltd., Sumitomo Heavy Industries, Xuzhou Construction Machinery Group (XCMG), Bharat Earth Movers Limited, J C Bamford Excavators Limited, Wirtgen Group, Mine Master Ltd, FIORI GROUP S.p.A., JSC, WackerNeuson Group, Equipment North Inc., RTM Equipment, Astec Industries, Inc., BELL Equipment, AARD Mining Equipment
Aspects covered in this report
• North America Mining Equipment market with its value and forecast along with its segments
• Country wise market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation
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