Global Bucket Mining Shovel Market: Overview

A bucket mining shovel is a machine-automated power shovel, which is usually powered by electricity. Bucket mining shovels have capacity of digging or loading earth, and rocks. It has a wide range of applications in mineral extraction. Increasing demand for extraction of minerals, coal, and metallic as well as non-metallic ores is propelling growth of the global bucket mining shovel market.

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Global Bucket Mining Shovel Market: Dynamics

Demand for heavy mining equipment is estimated to rise in the near future owing to growth of the mining industry. Additionally, the emergence of improved technologies in the bucket mining shovels such as electricity-based bucket mining shovels, which offers convenience in the extraction of a large amount of ores at a lower cost. Owing to such convenience, the market for bucket mining shovel is estimated to witness steady growth over the forecast period. Furthermore, substantial rise in electricity production, especially in developing economies, is driving growth of the global bucket mining shovel market.

Additionally, rise in investments for improvement in technology has led to improved designs of ropes used with bucket mining shovel, reduced maintenance costs, significantly declined downtime, and enhanced efficiency. The technological innovations have increased the reliability of mining shovels. This factor boosts growth of the global bucket mining shovel market.

Global Bucket Mining Shovel Market: Regional Outlook

Among the regional markets, the Asia Pacific market dominates the global bucket mining shovel market and the trend is expected to continue over the forecast period. This growth of the market in Asia Pacific is attributable to increased activities of mining to fulfil high demand for fossil fuels in the region. Asia Pacific is witnessing rapid urbanization and industrialization, which boosts demand for energy and electricity. The increased mining and extraction activities in the region are estimated to fuel growth of the bucket mining shovel market in the region over the forecast period.

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Key Players Operating in Global Bucket Mining Shovel Market

  • Caterpillar
  • HEC
  • Joy-Global
  • OMZ
  • Taiyuan

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Regions Covered:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Global Bucket Mining Shovel Market: Report Highlights

  • Detailed overview of the parent market
  • Changing dynamics of the bucket mining shovel market
  • Bucket mining shovel market segmentation
  • Regional landscape of the bucket mining shovel market
  • Evaluation of the bucket mining shovel market based on the present and past data collected
  • Historical, present, and projected bucket mining shovel market in terms of volume and value
  • Recent trends and developments in the bucket mining shovel market
  • Competitive landscape
  • Strategies adopted by key players and products offered by them

Global Bucket Mining Shovel Market: Segmentation

The report includes forecasts for the bucket mining shovel market at the global, regional, and country levels. The report contains analysis of trends in each segment of the market for the period from 2017 to 2027. The report’s authors have conducted an in-depth study of the global bucket mining shovel market’s competitive landscape, focusing on the key market players’ company profiles and expansion strategies. Furthermore, the report provides a clear picture of the competition among the leading industry players. The report sheds light on the product portfolios and business growth strategies such as new business deals, collaborations, mergers & acquisitions, joint ventures, technological upgradation, and new product launches that are benefiting the market and other strategies adopted by the key players in the market. For this study, Reports and Data has segmented the bucket mining shovel market based on type and end-user as follows.

By Type (Revenue, USD Million; 2017–2027)

  • Diesel–Mechanical
  • Diesel–Electric Hybrid
  • Others

By End-user (Revenue, USD Million; 2017–2027)

  • Metallic Mines
  • Coal Mines
  • Non-metallic Mines
  • Others

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Key questions answered by the report