Product Code: 137527-08-22
The market for underground mining trucks is expected to reach US$ 3.2 Bn by 2030 at a CAGR of 6.5% through the forecast period 2022 - 2030. The rising number of underground mines in order to satisfy the global demand for metals and minerals is expected to encourage the sale of underground mining trucks across the world. In addition, stringent miners' safety regulations and environment protection laws increase the adoption of advanced underground equipment which satisfies operational and regulatory norms. Moreover, the demand for fuel-efficient trucks is expected to increase through the forecast period due to the rising need to reduce fuel consumption and the greenhouse gas effect. Mining equipment manufacturers are integrating customized hardware and software solutions to reduce fuel particulates and to improve fuel efficiency.
The global underground mining trucks market is highly competitive and multinational players have a strong hold in the global market. Market collaboration is expected to increase market competition as market leading players are focusing on market expansion through mergers and acquisitions. Caterpillar, Atlas Copco, GHH Fahrzeuge, Volvo, Sandvik, ZanamLegmet, Maclean, DUX, Bell, Get-man and MOAZ following are some major players in the global underground mining trucks industry. Caterpillar has been aggressively focusing on market expansion in underground mining truck segment through mergers and acquisitions in the recent past. In addition, numerous companies have been incorporating innovative technologies such as automation to offer a higher degree of functionality and safety in the underground mining environment. For instance, Sandvikreleased an autonomous truck haulage system that enables the company to convert its intelligent mining trucks into unmanned robots.
Historical & Forecast Period
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Underground Mining Trucks market are as follows:
Research and development budgets of manufacturers and government spending
Revenues of key companies in the market segment
Number of end users and consumption volume, price and value.
Geographical revenues generate by countries considered in the report:
Micro and macro environment factors that are currently influencing the Underground Mining Trucks market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
Market Segmentation
Engine Type
Diesel
Electric
Capacity
Less than 18 tons
18 tons to less than 26
26 tons to less than 36
36 tons to less than 46
46 tons to less than 56
56 tons to less than 65
Capacity 65 Tons or More
Region Segment (2020-2030; US$ Billion)
North America
U.S.
Canada
Rest of North America
UK and European Union
UK
Germany
Spain
Italy
France
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
GCC
Africa
Rest of Middle East and Africa
Global Impact of COVID-19 Segment (2020-2021; US$ Billion )
Pre COVID-19 situation
Post COVID-19 situation
Key questions answered in this report:
What are the key micro and macro environmental factors that are impacting the growth of Underground Mining Trucks market?
What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
Estimated forecast and market projections up to 2030.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment holds a larger market share and why?
Are low and middle-income economies investing in the Underground Mining Trucks market?
Which is the largest regional market for Underground Mining Trucks market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Which are the key trends driving Underground Mining Trucks market growth?
Who are the key competitors and what are their key strategies to enhance their market presence in the Underground Mining Trucks market worldwide?
Table of Contents
1. Preface
- 1.1. Report Description
- 1.1.1. Purpose of the Report
- 1.1.2. Target Audience
- 1.1.3. Key Offerings
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.3.1. Phase I - Secondary Research
- 1.3.2. Phase II - Primary Research
- 1.3.3. Phase III - Expert Panel Review
- 1.3.4. Assumptions
- 1.3.5. Approach Adopted
2. Executive Summary
- 2.1. Market Snapshot: Global Underground Mining Trucks Market
- 2.2. Global Underground Mining Trucks Market, By Engine Type, 2021 (US$ Billion)
- 2.3. Global Underground Mining Trucks Market, By Capacity, 2021 (US$ Billion)
- 2.4. Global Underground Mining Trucks Market, By Geography, 2021 (US$ Billion)
- 2.5. Attractive Investment Proposition by Geography, 2021
3. Underground Mining Trucks Market: Competitive Analysis
- 3.1. Market Positioning of Key Underground Mining Trucks Market Vendors
- 3.2. Strategies Adopted by Underground Mining Trucks Market Vendors
- 3.3. Key Industry Strategies
- 3.4. Tier Analysis 2021 Versus 2030
4. Underground Mining Trucks Market: Macro Analysis & Market Dynamics
- 4.1. Introduction
- 4.2. Global Underground Mining Trucks Market Value, 2020 - 2030, (US$ Billion)
- 4.3. Market Dynamics
- 4.3.1. Market Drivers
- 4.3.2. Market Restraints
- 4.3.3. Key Challenges
- 4.3.4. Key Opportunities
- 4.4. Impact Analysis of Drivers and Restraints
- 4.5. See-Saw Analysis
5. Underground Mining Trucks Market: By Engine Type, 2020-2030, USD (Billion)
- 5.1. Market Overview
- 5.2. Growth & Revenue Analysis: 2021 Versus 2030
- 5.3. Market Segmentation
- 5.3.1. Diesel
- 5.3.2. Electric
6. Underground Mining Trucks Market: By Capacity, 2020-2030, USD (Billion)
- 6.1. Market Overview
- 6.2. Growth & Revenue Analysis: 2021 Versus 2030
- 6.3. Market Segmentation
- 6.3.1. Less than 18 tons
- 6.3.2. 18 tons to less than 26
- 6.3.3. 26 tons to less than 36
- 6.3.4. 36 tons to less than 46
- 6.3.5. 46 tons to less than 56
- 6.3.6. 56 tons to less than 65
- 6.3.7. Capacity 65 Tons or More
7. North America Underground Mining Trucks Market, 2020-2030, USD (Billion)
- 7.1. Market Overview
- 7.2. Underground Mining Trucks Market: By Engine Type, 2020-2030, USD (Billion)
- 7.3. Underground Mining Trucks Market: By Capacity, 2020-2030, USD (Billion)
- 7.4.Underground Mining Trucks Market: By Region, 2020-2030, USD (Billion)
- 7.4.1.North America
- 7.4.1.1. U.S.
- 7.4.1.1.1. Underground Mining Trucks Market: By Engine Type, 2020-2030, USD (Billion)
- 7.4.1.1.1. Underground Mining Trucks Market: By Capacity, 2020-2030, USD (Billion)
- 7.4.1.2. Canada
- 7.4.1.2.1. Underground Mining Trucks Market: By Engine Type, 2020-2030, USD (Billion)
- 7.4.1.2.1. Underground Mining Trucks Market: By Capacity, 2020-2030, USD (Billion)
- 7.4.1.3. Rest of North America
- 7.4.1.3.1. Underground Mining Trucks Market: By Engine Type, 2020-2030, USD (Billion)
- 7.4.1.3.1. Underground Mining Trucks Market: By Capacity, 2020-2030, USD (Billion)
8. UK and European Union Underground Mining Trucks Market, 2020-2030, USD (Billion)
- 8.1. Market Overview
- 8.2. Underground Mining Trucks Market: By Engine Type, 2020-2030, USD (Billion)
- 8.3. Underground Mining Trucks Market: By Capacity, 2020-2030, USD (Billion)
- 8.4.Underground Mining Trucks Market: By Region, 2020-2030, USD (Billion)
- 8.4.1.UK and European Union
- 8.4.1.1. UK
- 8.4.1.1.1. Underground Mining Trucks Market: By Engine Type, 2020-2030, USD (Billion)
- 8.4.1.1.1. Underground Mining Trucks Market: By Capacity, 2020-2030, USD (Billion)
- 8.4.1.2. Germany
- 8.4.1.2.1. Underground Mining Trucks Market: By Engine Type, 2020-2030, USD (Billion)
- 8.4.1.2.1. Underground Mining Trucks Market: By Capacity, 2020-2030, USD (Billion)
- 8.4.1.3. Spain
- 8.4.1.3.1. Underground Mining Trucks Market: By Engine Type, 2020-2030, USD (Billion)
- 8.4.1.3.1. Underground Mining Trucks Market: By Capacity, 2020-2030, USD (Billion)
- 8.4.1.4. Italy
- 8.4.1.4.1. Underground Mining Trucks Market: By Engine Type, 2020-2030, USD (Billion)
- 8.4.1.4.1. Underground Mining Trucks Market: By Capacity, 2020-2030, USD (Billion)
- 8.4.1.5. France
- 8.4.1.5.1. Underground Mining Trucks Market: By Engine Type, 2020-2030, USD (Billion)
- 8.4.1.5.1. Underground Mining Trucks Market: By Capacity, 2020-2030, USD (Billion)
- 8.4.1.6. Rest of Europe
- 8.4.1.6.1. Underground Mining Trucks Market: By Engine Type, 2020-2030, USD (Billion)
- 8.4.1.6.1. Underground Mining Trucks Market: By Capacity, 2020-2030, USD (Billion)
9. Asia Pacific Underground Mining Trucks Market, 2020-2030, USD (Billion)
- 9.1. Market Overview
- 9.2. Underground Mining Trucks Market: By Engine Type, 2020-2030, USD (Billion)
- 9.3. Underground Mining Trucks Market: By Capacity, 2020-2030, USD (Billion)
- 9.4.Underground Mining Trucks Market: By Region, 2020-2030, USD (Billion)
- 9.4.1.Asia Pacific
- 9.4.1.1. China
- 9.4.1.1.1. Underground Mining Trucks Market: By Engine Type, 2020-2030, USD (Billion)
- 9.4.1.1.1. Underground Mining Trucks Market: By Capacity, 2020-2030, USD (Billion)
- 9.4.1.2. Japan
- 9.4.1.2.1. Underground Mining Trucks Market: By Engine Type, 2020-2030, USD (Billion)
- 9.4.1.2.1. Underground Mining Trucks Market: By Capacity, 2020-2030, USD (Billion)
- 9.4.1.3. India
- 9.4.1.3.1. Underground Mining Trucks Market: By Engine Type, 2020-2030, USD (Billion)
- 9.4.1.3.1. Underground Mining Trucks Market: By Capacity, 2020-2030, USD (Billion)
- 9.4.1.4. Australia
- 9.4.1.4.1. Underground Mining Trucks Market: By Engine Type, 2020-2030, USD (Billion)
- 9.4.1.4.1. Underground Mining Trucks Market: By Capacity, 2020-2030, USD (Billion)
- 9.4.1.5. South Korea
- 9.4.1.5.1. Underground Mining Trucks Market: By Engine Type, 2020-2030, USD (Billion)
- 9.4.1.5.1. Underground Mining Trucks Market: By Capacity, 2020-2030, USD (Billion)
- 9.4.1.6. Rest of Asia Pacific
- 9.4.1.6.1. Underground Mining Trucks Market: By Engine Type, 2020-2030, USD (Billion)
- 9.4.1.6.1. Underground Mining Trucks Market: By Capacity, 2020-2030, USD (Billion)
10. Latin America Underground Mining Trucks Market, 2020-2030, USD (Billion)
- 10.1. Market Overview
- 10.2. Underground Mining Trucks Market: By Engine Type, 2020-2030, USD (Billion)
- 10.3. Underground Mining Trucks Market: By Capacity, 2020-2030, USD (Billion)
- 10.4.Underground Mining Trucks Market: By Region, 2020-2030, USD (Billion)
- 10.4.1.Latin America
- 10.4.1.1. Brazil
- 10.4.1.1.1. Underground Mining Trucks Market: By Engine Type, 2020-2030, USD (Billion)
- 10.4.1.1.1. Underground Mining Trucks Market: By Capacity, 2020-2030, USD (Billion)
- 10.4.1.2. Mexico
- 10.4.1.2.1. Underground Mining Trucks Market: By Engine Type, 2020-2030, USD (Billion)
- 10.4.1.2.1. Underground Mining Trucks Market: By Capacity, 2020-2030, USD (Billion)
- 10.4.1.3. Rest of Latin America
- 10.4.1.3.1. Underground Mining Trucks Market: By Engine Type, 2020-2030, USD (Billion)
- 10.4.1.3.1. Underground Mining Trucks Market: By Capacity, 2020-2030, USD (Billion)
11. Middle East and Africa Underground Mining Trucks Market, 2020-2030, USD (Billion)
- 11.1. Market Overview
- 11.2. Underground Mining Trucks Market: By Engine Type, 2020-2030, USD (Billion)
- 11.3. Underground Mining Trucks Market: By Capacity, 2020-2030, USD (Billion)
- 11.4.Underground Mining Trucks Market: By Region, 2020-2030, USD (Billion)
- 11.4.1.Middle East and Africa
- 11.4.1.1. GCC
- 11.4.1.1.1. Underground Mining Trucks Market: By Engine Type, 2020-2030, USD (Billion)
- 11.4.1.1.1. Underground Mining Trucks Market: By Capacity, 2020-2030, USD (Billion)
- 11.4.1.2. Africa
- 11.4.1.2.1. Underground Mining Trucks Market: By Engine Type, 2020-2030, USD (Billion)
- 11.4.1.2.1. Underground Mining Trucks Market: By Capacity, 2020-2030, USD (Billion)
- 11.4.1.3. Rest of Middle East and Africa
- 11.4.1.3.1. Underground Mining Trucks Market: By Engine Type, 2020-2030, USD (Billion)
- 11.4.1.3.1. Underground Mining Trucks Market: By Capacity, 2020-2030, USD (Billion)
12. Company Profile
- 12.1. Atlas Copco
- 12.1.1. Company Overview
- 12.1.2. Financial Performance
- 12.1.3. Product Portfolio
- 12.1.4. Strategic Initiatives
- 12.2. Sandvik
- 12.2.1. Company Overview
- 12.2.2. Financial Performance
- 12.2.3. Product Portfolio
- 12.2.4. Strategic Initiatives
- 12.3. Caterpillar
- 12.3.1. Company Overview
- 12.3.2. Financial Performance
- 12.3.3. Product Portfolio
- 12.3.4. Strategic Initiatives
- 12.4. GHH Fahrzeuge
- 12.4.1. Company Overview
- 12.4.2. Financial Performance
- 12.4.3. Product Portfolio
- 12.4.4. Strategic Initiatives
- 12.5. KGHM ZANAM S.A
- 12.5.1. Company Overview
- 12.5.2. Financial Performance
- 12.5.3. Product Portfolio
- 12.5.4. Strategic Initiatives
- 12.6. Dux Machinery Corporation
- 12.6.1. Company Overview
- 12.6.2. Financial Performance
- 12.6.3. Product Portfolio
- 12.6.4. Strategic Initiatives
- 12.7. MacLean
- 12.7.1. Company Overview
- 12.7.2. Financial Performance
- 12.7.3. Product Portfolio
- 12.7.4. Strategic Initiatives
- 12.8. Bell Equipment
- 12.8.1. Company Overview
- 12.8.2. Financial Performance
- 12.8.3. Product Portfolio
- 12.8.4. Strategic Initiatives
- 12.9. Getman
- 12.9.1. Company Overview
- 12.9.2. Financial Performance
- 12.9.3. Product Portfolio
- 12.9.4. Strategic Initiatives
- 12.10. MOAZ
- 12.10.1. Company Overview
- 12.10.2. Financial Performance
- 12.10.3. Product Portfolio
- 12.10.4. Strategic Initiatives