How mining equipment is driving growth in the Mining industry ?

Mining Industry around the world is one of the fastest growing industries. The profitability of a mining firm is determined by its end-to-end effeciency in transforming the extracted ore into different varieties, and making it available for industrial and commercial application. This end-to-end efficiency can be attained by making use of the best mining equipment. With technological advancements, equipment used in mining has come a long way in terms of speed, productivity and durability thereby reducing the downtime and making cost-effective operations.

The key driver for a successful mining company is an effective value chain which not only takes care of the operations and supply chain but also streamline the manpower resources. Another key driver is the usage of better mining equipment and extraction technologies to obtain ore of best grade, ensuring longevity of old mines and making the best quality material for the end customer. The non-renewable resources like minerals, oil and gas has always been in demand. This is proven from the fact that the value of the global mining industry in 2019 was USD 144.37 billion which is expected to grow at 12.7% CAGR from 2020 to 2027. According to market insights, the continuous government support, investments and introduction of digital mining equipment will bring unprecedented growth in the sector and also increase the demand of mining equipment over the years. The mining equipment insights reveals that the demand is on the rise for digital mining equipment with high performance and low maintenance which help in achieving economies of scale. The leading players in the mining sector are focusing on the equipment which reduces the extraction cost and has low equipment maintenance. Along with this, they are adapting technologies like 3D printing, robotics, AI, smart sensors to further improve their operational efficiencies.

In emerging economies the demand for coal, diamond and iron ore is high, thereby the requirement of surface mining equipment is on the rise in these economies. Out of major mining equipment, excavators have witnessed an increased demand as they play a significant role in surface mining projects. The excavator market has seen a propelling growth in the Backhoe Loader market which is potentially used for carrying out surface mining, typically in digging and excavation in compact areas. The Backhoe Loader market was USD 2.38 Billion in 2018 and it is expected to grow 5.6% CAGR by 2026. The leading manufacturers of Backhoe loaders are incorporating technologies for better performance and low maintenance. For example, Caterpillar introduced CAT 424B2 with efficient hydraulics, high performance, low cost maintenance, post sale services and durability. Other leading manufacturers are Xuzhou Construction Machinery, Deere & Company, Caterpillar, Volvo CE, J.C. Bamford Excavators,etc.

Another important equipment in mining is Jaw Crusher which has a wide range of applications depending on the level of fragmentation required for an ore. Based on application, it is segmented into following types - Blake Crusher, Dodge Crusher & Universal Crusher. It is mainly used by mining industries which are into production of Granite, quartz, rocks, basalt, dolomite, etc. The accelerated demand in commercial and industrial applications are leading the way for growth in the Jaw Crush market. Also, the adoption of technology and automation in the features of Jaw crushers have further increased the market demand. Its simplified features, cost effectiveness, low maintenance and easy replacement of spare parts makes it a popular equipment in the mining industry. Another reason for its popularity is its usage in the primary phase of mining to fragment the ore. The leading players in this segment are AUBEMA MASCHINENFABRIK GMBH, Henan Dewo Machinery, Henan Hongxing Mining Machinery, H-E-Parts International, Maruti Jaw Crusher, etc.