The global heavy mining equipment market is driven by the growing output level and rising commodity prices. The heavy mining equipment is referred to as the heavy machines used for mining, construction, or earthmoving tasks. This equipment is called heavy owing to the heavy-duty work it is constructed to perform at the mining sites such as gold or iron ore mining. Equipment such as diggers, trucks, and loaders, among others, are few of the examples of underground mining equipment that ease the task of material extraction. The equipment is also helpful in the processing of the excavated products that are hauled to the ground by the use of skips or lifts.
The market has the Asia Pacific as the leading region on the basis of size as well as growth prospects. The regions such as North America, Australia, and Asia are the high maturity markets for the heavy mining equipment market. Europe, South America, and Africa are the high potential regions driven by the increased demand for automation and autonomous equipment, enhancing the market growth of heavy mining equipment globally. Caterpillar Inc. (NYSE: CAT) and Komatsu Ltd (TYO: 6301) are some of the major key players in the global heavy mining market.
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Epiroc AB, Sandvik AB, Caterpillar Inc., Komatsu Ltd, Hitachi, Ltd., and Liebherr Group, among others, are the key players in the global heavy mining equipment market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
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