North America Underground Mining Vehicle Market Share to Grow at a CAGR of 3.5% through 2032

North America Underground Mining Vehicle Market Share was worth US$ 22 Billion in the year 2022 and is expected to reach US$ 31 Billion by the year 2032 at a CAGR of 3.5% between 2022 and 2032.

The factor basically driving the underground mining vehicle is that it’s durable. The other reason behind the popularity of underground mining vehicle is LHD, LPDT, and underground haulers to transport materials from mine to preferred location (where material gets processed further). Shearers are amongst the major production/support unit used to extract ore and coal from mine and also make smaller granules of material/metal rocks.

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Ground support is leading North America underground mining vehicle market. There is a growing demand for shearers, roof bolter, and scalers to extract coal, metals, and the other ores. Non-metallic and metal mining are ruling the roost. The local players are also making an entry into the market and preferred by the end-users due to physical proximity. This is how North America Underground Mining vehicle would be used at a large scale all over.

Future Market Insights has entailed these facts with future perspectives in its latest market study entitled ‘North America Underground Mining Vehicle Market’. Its team of analysts and consultants deploys 360-degree approach in its primary, secondary, and tertiary modes of research.

“With rising investments in research regarding underground mining, North America underground mining vehicle market is likely to grow on a good note in the forecast period”, says an analyst from Future Market Insights.

Key Takeaways from North America Underground Mining Vehicle Market

The US being subject to a number of rental service providers, holds the largest market share. Plus, with underground mining vehicle owners looking for curbing maintenance costs, the key participants are emphasizing on long-term partnerships with the small mine operators. Canada is also not behind in this regard.

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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
  • J.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:

  • U.S.
  • Canada
  • Mexico

About Future Market Insights (FMI) 

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.


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About the Author

Ronak Shah

Associate Vice President at Future Market Insights is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.

What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers' shifting preferences.

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

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