February 27, 2020

Asia Pacific Underground Mining Equipment Market | Key Players are Atlas Copco AB, Caterpillar Inc., Joy Global Inc., Volvo Construction Equipment, Komatsu Limited, and others.

According to a new market report published by Credence Research Inc “Asia Pacific Underground Mining Equipment Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023,” the demand for underground mining equipment in Asia Pacific is correlated with the rise in number of underground mining operations. Asia Pacific is currently the largest underground mining equipment market worldwide.

This dominance is majorly on account of huge demand from countries including China and Australia. On the other hand, countries including India, Indonesia, Malaysia, Vietnam, etc. are seen as untapped markets with enormous latent potential and hence are expected to offer significant growth and investment opportunities for both mine operators and underground mining equipment manufacturers during the forecast period 2016 – 2023.

Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/asia-pacific-underground-mining-equipment-market

Tightening of environmental regulations would be a game-changing factor for the underground mining business in the coming years. When implemented, miners in the region will be faced with higher costs to comply with new policies, which, in turn may hurt miners in the on-going low commodity price climate. For instance, the Philippines government is expected to enforce stringent environmental regulations for the country’s mining industry in the coming years. As such, Nickel miners in the country will incur losses as increased costs from compliance to environmental regulation will be worsened by the on-going low nickel prices.

Australia is expected to be a leader in global mining innovation as 60% of the mining software used globally is produced in the country. It is therefore expected to be the leading exporter of mining technology not only in Asia, but also globally. Currently, Australia is house to over 100 exploration and mining software companies. With continual government support for innovation and strong demand from the mining sector, the miners in the country will continue to be front-runners in the race to utilize cutting-edge mining technology.

Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/58363

Asia Pacific represents the most attractive business destination for underground mining equipment manufacturers worldwide. There lie comparatively superior growth and investment opportunities in markets like India and China than matured markets of developed economies. The anticipated growth opportunity is a reflective of the growing urbanization, gradual shift towards underground mining operations by mining operators, and increased adoption of state-of-the-art equipment. The replacement of obsolete equipment by the advanced equivalents is also expected to keep demand afloat in China and Australia.

Apart from these countries, emerging economies including Indonesia, Myanmar, and Vietnam are also expected to register strong growth in the coming years. With investor friendly laws and regulations expected to be enacted, numerous exploration and production projects are expected to be approved and start within next few years in these countries.  Vietnam, for instance, is following parallel development path as China by making structural reforms and easing business regulations. This, in turn is expected to have positive impact on the inflow of foreign investments and hence commissioning, exploration, and operation expansion of new mining projects in the country.

Company Profiles

  • Atlas Copco AB
  • Caterpillar Inc.
  • Hitachi Construction Machinery Co. Ltd.
  • Joy Global Inc.
  • Volvo Construction Equipment
  • Komatsu Limited
  • Metso Corporation
  • JCB Ltd.
  • Sandvik AB
  • Zhengzhou Coal Mining Machinery Group Co. Limited
  • China National Coal Mining Equipment Co. Ltd.
  • Boart Longyear Ltd.
  • Atlas Copco AB

Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/58363

[Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction To The Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also Included]

Market Segmentation

By Application Type

  • Coal Mining
  • Metal Mining
  • Mineral Mining

By Equipment Type

  • Mining scalers
  • Continuous miners
  • LHD (Load, Haul and Dump)
  • Underground trucks
  • Underground mining drills
  • Personnel carrier
  • Scissor lift
  • Shotcreter
  • Transmixers

By Geography Segment

  • North America (the U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of World (Middle East & Africa (MEA), Latin America)

Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/58363

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