Mining Shovel Market Snapshot (2023 to 2033)

The global mining shovel market is anticipated to be valued at US$ 7.8 billion in 2022. Demand is likely to remain high for mining shovels during the assessment period. This is due to the increased mining operation and garnering US$ 10.4 billion in 2033, recording a CAGR of 2.7% from 2023 to 2033. The market is likely to secure US$ 8.0 billion in 2023.

Data Points Key Statistics
Mining Shovel Market Size Value in 2023 US$ 8.0 billion
Mining Shovel Rental Market Forecast Value in 2033 US$ 10.4 billion
Global Growth Rate 2.7% CAGR
Forecast Period 2023 to 2033

Key Factors Shaping the Demand Outlook of the Mining Shovel Industry:

  • Increasing the application of mining shovels in construction industries to augment the growth of the market
  • Increasing mining activities and replacement of aging instruments and shovels in mining elevates the demand
  • Increasing adoption of advanced mining equipment is expected to spur the market growth
  • Increasing surface mining activity to boost the market growth
  • Growing advances in technology are expected to create new growth prospects for mining shovel manufacturers.

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Mining Shovel Market Revenue Analysis from 2018 to 2022 Vs Market Outlook for 2023 to 2033

Attributes Details
Historical CAGR (2018 to 2022) 2.5%
Forecast CAGR (2023 to 2033) 2.7%

Demand for mining shovels grew at a 2.5% CAGR between 2018 and 2022. Mining shovels, also called front shovels or power shovels, are bucket-equipped electrically powered machines, commonly used for digging, loading, and extracting earth minerals. They are used to excavate large quantities of rock and soil in the strip or surface mining operations. These machines are available in a wide range of payload capacities and a complete rig can weigh up to 10,000 tons.

Characterized by their huge size, mining shovels primarily exceed 200 feet in length and can have buckets with volumes of up to 180 cubic yards. These machines are increasingly gaining popularity across the mining industry, owing to their ability to dig and excavate huge quantities of earth minerals and work in harsh & difficult mining conditions.

As these shovels assist mining sites in moving the soil and rock at faster rates and at a lower cost per ton, they are increasingly being adopted for surface mining applications for extracting minerals and metals such as iron ore, coal, copper, bauxite, and gold among others. This is projected to bolster the demand for mining shovels in the market.

Which are Some Prominent Drivers Spearheading Mining Shovel Market Growth?

The Increasing Construction Activities Globally to Drive the Market Growth

As the trend of urbanization and industrialization continues to create deeper inroads across the world, a swift rise in building and construction activities is being witnessed, especially across developing economies such as China, India, Australia, Brazil, and others.

Citing these trends, governments in numerous countries are increasingly aiming at urbanizing their rural areas and investing in upgrading the infrastructure of respective nations. For instance, the Indian government has announced allocating US$ 868 Billion under its Smart City Mission for constructing over 100 smart cities across India.

Such increasing infrastructure development and construction activities are creating strong demand for iron, steel, and other metals. Leading mining industry players are emphasizing expanding their mining capacity to capitalize on the surging iron & steel demand.

For instance, in 2021, JSW Steel, an Indian multinational conglomerate announced acquiring 4 iron ore mines in Odisha, India to ramp up its iron & steel production and supply 51% of its overall requirement. As mining shovels are extensively used across the iron ore & crude steel mines for digging and extraction applications, such a rise in mining activities is estimated to spur sales in the global market.

Nikhil Kaitwade
Nikhil Kaitwade

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What are the Challenges Faced by the Mining Shovel Market?

High Cost of Maintenance May Impede the Market Growth

Although there are several advantages associated with mining shovels, extravagant initial cost, difficulty in operation due to their mechanical complexity, and high cost of maintenance due to working in harsh mining conditions are hampering the growth in the market.

The increasing shift of end-user preference towards using excavators for mining applications, owing to this low initiation cost and multifunction capability is hindering the demand for mining shovels. The rising availability of mining equipment such as mining shovels on a rental basis is hindering the sales of new mining shovels in the market.

Country-wise Insights

Why is South Asia and Pacific Emerging as an Opportunistic Mining Shovel Market?

Increasing Construction of New Mines to Boost the Market Growth

Future Market Insights states that South Asia and the Pacific are forecast to continue dominating the global mining shovel market between 2023 and 2033. Demand for coal is rapidly increasing across the power generation sector, thanks to the introduction of advanced clean coal technologies. With surging power demand across the Asia Pacific, governments in countries across the region are immensely focusing on increasing their production of coal for power generation activities.

For instance, in 2021, the Indian Government announced approving the investment of US$ 6.47 billion for constructing 8 new coal mining projects and expanding 24 existing coal mines for increasing the production of coal in the country. As mining shovels are used in mining activities, such initiatives for constructing new mines are estimated to augment the demand in the market.

How is North America Contributing to the Growth of the Mining Shovel Market?

Increasing Mining Activities in The Region to Drive the Market Growth

As per FMI, North America is anticipated to account for a significant share of the global mining shovel market over the forecast period 2023 to 2033. North America is expected to account for a CAGR of 2.6% during the forecast period.

Increasing demand for minerals and metals such as iron ore, copper, gold, steel, and others has resulted in accelerating mining activities across the countries such as the United States and Canada, creating sales opportunities for mining equipment.

The leading manufacturers in the market are aiming at launching novel products to capitalize on such opportunities. For instance, in 2020, Caterpillar Inc., a USA-based construction machinery and equipment company announced its new hydraulic mining shovel, 6015B. The shovel is equipped with a single Cat C27 ACERT engine and a 100-ton shovel, providing faster-digging cycles and greater digging power. A multiplicity of such new product launches is estimated to fuel the demand for mining shovels in the North American market.

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Category-wise Insights

Based on Payload Capacity, Which Segment Accounts for the Highest Revenue in the Mining Shovels Market?

30-40 Metric Ton Segment to Remain Highly Sought After

By payload capacity, the 34-40 metric ton payload capacity segment is expected to dominate the market in the forecast period. The segment is projected to account for a CAGR of 2.6% during the forecast period.

This range of mining shovels is used in operations, including open-pit mining of various minerals and materials. These shovels offer a balance between size, power, and efficiency, making them versatile for different types of mining projects.

Based on the Mineral Type, Which Segment Accounts for the Highest Revenue in the Mining Shovel Market?

Coal Segment to generate high Revenue

As per FMI’s analysis, the coal segment accounts for 42.5% of the total mining shovel market share. The segment is projected to account for a CAGR of 2.5% during the forecast period.

Coal mining shovels are specifically designed for excavating and loading coal from open-pit mines or coal seams. These shovels are often equipped with specialized features to handle the unique properties of coal, such as high volume, low density, and potential challenges related to dust control.

Market Competition

Some of the leading players in the mining shovel market are JCB Ltd., Volvo Construction Equipment, Caterpillar Inc., Sandvik AB, Hitachi Construction Machinery Co. Ltd., Metso Corporation, Komatsu Limited, Boart Longyear Ltd., and China National Coal Mining Equipment Co. Ltd.

The global mining shovel market is highly competitive, due to a large number of participants and increasing adoption of product launches and capacity expansion strategies to strengthen the market share.

  • Caterpillar offers a range of mining shovels, including the Cat 6090 FS, which is one of the largest hydraulic shovels in the industry. It features advanced technology and automation systems for improved productivity and efficiency.The company has been focusing on developing electric rope shovels to meet the growing demand for environmentally friendly and energy-efficient mining equipment. Their electric rope shovels offer reduced emissions and lower operating costs.
  • Liebherr has introduced innovative features in their mining shovels, such as advanced operator assistance systems and real-time monitoring. These features enhance safety, productivity, and machine performance. The company has developed high-capacity mining shovels, like the R 9800, which offers a large bucket capacity and high digging forces for efficient material handling in large-scale mining operations.

Report Scope

Report Attribute Details
Growth Rate CAGR of 2.7% from 2023 to 2033
Market Value in 2023 US$ 8.0 billion
Market Value in 2033 US$ 10.4 billion
Base Year for Estimation 2022
Historical Data 2018 to 2022
Forecast Period 2023 to 2033
Quantitative Units Revenue in US$ billion and CAGR from 2023 to 2033
Report Coverage Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered
  • Payload Capacity
  • Mineral Type
  • Region
Regions Covered
  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • South Asia and Pacific
  • East Asia
  • Middle East & Africa
Key Countries Profiled
  • United States
  • Canada
  • Brazil
  • Mexico
  • Germany
  • United Kingdom
  • France
  • Spain
  • Italy
  • Poland
  • Russia
  • Czech Republic
  • Romania
  • India
  • Bangladesh
  • Australia
  • New Zealand
  • China
  • Japan
  • South Korea
  • GCC Countries
  • South Africa
  • Israel
Key Companies Profiled
  • JCB Ltd.
  • Volvo Construction Equipment
  • Caterpillar Inc.
  • Sandvik AB
  • Hitachi Construction Machinery Co. Ltd.
  • Metso Corporation
  • Komatsu Limited
  • Boart Longyear Ltd.
  • China National Coal Mining Equipment Co. Ltd
  • Liebherr Group

Key Segments Profiled in the Mining Shovel Market Survey

By Payload Capacity:

  • 20-30 Metric Tons
  • 30-40 Metric Tons
  • 40-50 Metric Tons
  • More than 50 Metric Tons

By Mineral Type:

  • Coal
  • Iron Ore
  • Non-ferrous Metals
  • Industrial Minerals
  • Precious Metals
  • Others

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • South Asia and Pacific
  • East Asia
  • Middle East & Africa

Frequently Asked Questions

What is the Mining Shovel market CAGR for 2033?

The mining shovel market CAGR for 2033 is 2.7%.

How Big is the Mining Shovel Market?

The market is valued at US$ 8.0 billion in 2023.

What is the Projected Market Value of the Global Mining Shovel Market for 2033?

The projected market value of the market for 2033 is US$ 10.4 billion.

How Key Players are Developing the Mining Shovel Market?

Key players are developing the market by partnering with other companies.

Who are the Key Mining Shovel Market Players?

Caterpillar, Komatsu, and Sandvik are key market players.

Table of Content
1. Executive Summary
    1.1. Global Market Outlook
    1.2. Demand-side Trends
    1.3. Supply-side Trends
    1.4. Technology Roadmap Analysis
    1.5. Analysis and Recommendations
2. Market Overview
    2.1. Market Coverage / Taxonomy
    2.2. Market Definition / Scope / Limitations
3. Market Background
    3.1. Market Dynamics
        3.1.1. Drivers
        3.1.2. Restraints
        3.1.3. Opportunity 
        3.1.4. Trends
    3.2. Scenario Forecast
        3.2.1. Demand in Optimistic Scenario
        3.2.2. Demand in Likely Scenario
        3.2.3. Demand in Conservative Scenario
    3.3. Opportunity Map Analysis
    3.4. Product Life Cycle Analysis
    3.5. Supply Chain Analysis
        3.5.1. Supply Side Participants and their Roles
            3.5.1.1. Producers
            3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
            3.5.1.3. Wholesalers and Distributors
        3.5.2. Value Added and Value Created at Node in the Supply Chain
        3.5.3. List of Raw Material Suppliers
        3.5.4. List of Existing and Potential Buyer’s
    3.6. Investment Feasibility Matrix
    3.7. Value Chain Analysis
        3.7.1. Profit Margin Analysis
        3.7.2. Wholesalers and Distributors
        3.7.3. Retailers
    3.8. PESTLE and Porter’s Analysis
    3.9. Regulatory Landscape
        3.9.1. By Key Regions
        3.9.2. By Key Countries
    3.10. Regional Parent Market Outlook
    3.11. Production and Consumption Statistics
    3.12. Import and Export Statistics
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
    4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
    4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
        4.2.1. Y-o-Y Growth Trend Analysis
        4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Payload Capacity
    5.1. Introduction / Key Findings
    5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Payload Capacity, 2018 to 2022
    5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Payload Capacity, 2023 to 2033
        5.3.1. 20-30 Metric Tons
        5.3.2. 30-40 Metric Tons
        5.3.3. 40-50 Metric Tons
        5.3.4. More than 50 Metric Tons
    5.4. Y-o-Y Growth Trend Analysis By Payload Capacity, 2018 to 2022
    5.5. Absolute $ Opportunity Analysis By Payload Capacity, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Mineral Type
    6.1. Introduction / Key Findings
    6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Mineral Type, 2018 to 2022
    6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Mineral Type, 2023 to 2033
        6.3.1. Coal
        6.3.2. Iron Ore
        6.3.3. Non-ferrous Metals
        6.3.4. Industrial Minerals
        6.3.5. Precious Metals
        6.3.6. Others
    6.4. Y-o-Y Growth Trend Analysis By Mineral Type, 2018 to 2022
    6.5. Absolute $ Opportunity Analysis By Mineral Type, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
    7.1. Introduction
    7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2018 to 2022
    7.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2023 to 2033
        7.3.1. North America
        7.3.2. Latin America
        7.3.3. Western Europe
        7.3.4. Eastern Europe
        7.3.5. South Asia and Pacific
        7.3.6. East Asia
        7.3.7. Middle East and Africa
    7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    8.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
    8.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
        8.2.1. By Country
            8.2.1.1. USA
            8.2.1.2. Canada
        8.2.2. By Payload Capacity
        8.2.3. By Mineral Type
    8.3. Market Attractiveness Analysis
        8.3.1. By Country
        8.3.2. By Payload Capacity
        8.3.3. By Mineral Type
    8.4. Key Takeaways
9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
    9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
        9.2.1. By Country
            9.2.1.1. Brazil
            9.2.1.2. Mexico
            9.2.1.3. Rest of Latin America
        9.2.2. By Payload Capacity
        9.2.3. By Mineral Type
    9.3. Market Attractiveness Analysis
        9.3.1. By Country
        9.3.2. By Payload Capacity
        9.3.3. By Mineral Type
    9.4. Key Takeaways
10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
    10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
        10.2.1. By Country
            10.2.1.1. Germany
            10.2.1.2. UK
            10.2.1.3. France
            10.2.1.4. Spain
            10.2.1.5. Italy
            10.2.1.6. Rest of Western Europe
        10.2.2. By Payload Capacity
        10.2.3. By Mineral Type
    10.3. Market Attractiveness Analysis
        10.3.1. By Country
        10.3.2. By Payload Capacity
        10.3.3. By Mineral Type
    10.4. Key Takeaways
11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
    11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
        11.2.1. By Country
            11.2.1.1. Poland
            11.2.1.2. Russia
            11.2.1.3. Czech Republic
            11.2.1.4. Romania
            11.2.1.5. Rest of Eastern Europe
        11.2.2. By Payload Capacity
        11.2.3. By Mineral Type
    11.3. Market Attractiveness Analysis
        11.3.1. By Country
        11.3.2. By Payload Capacity
        11.3.3. By Mineral Type
    11.4. Key Takeaways
12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
    12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
        12.2.1. By Country
            12.2.1.1. India
            12.2.1.2. Bangladesh
            12.2.1.3. Australia
            12.2.1.4. New Zealand
            12.2.1.5. Rest of South Asia and Pacific
        12.2.2. By Payload Capacity
        12.2.3. By Mineral Type
    12.3. Market Attractiveness Analysis
        12.3.1. By Country
        12.3.2. By Payload Capacity
        12.3.3. By Mineral Type
    12.4. Key Takeaways
13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
    13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
        13.2.1. By Country
            13.2.1.1. China
            13.2.1.2. Japan
            13.2.1.3. South Korea
        13.2.2. By Payload Capacity
        13.2.3. By Mineral Type
    13.3. Market Attractiveness Analysis
        13.3.1. By Country
        13.3.2. By Payload Capacity
        13.3.3. By Mineral Type
    13.4. Key Takeaways
14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    14.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
    14.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
        14.2.1. By Country
            14.2.1.1. GCC Countries
            14.2.1.2. South Africa
            14.2.1.3. Israel
            14.2.1.4. Rest of MEA
        14.2.2. By Payload Capacity
        14.2.3. By Mineral Type
    14.3. Market Attractiveness Analysis
        14.3.1. By Country
        14.3.2. By Payload Capacity
        14.3.3. By Mineral Type
    14.4. Key Takeaways
15. Key Countries Market Analysis
    15.1. USA
        15.1.1. Pricing Analysis
        15.1.2. Market Share Analysis, 2022
            15.1.2.1. By Payload Capacity
            15.1.2.2. By Mineral Type
    15.2. Canada
        15.2.1. Pricing Analysis
        15.2.2. Market Share Analysis, 2022
            15.2.2.1. By Payload Capacity
            15.2.2.2. By Mineral Type
    15.3. Brazil
        15.3.1. Pricing Analysis
        15.3.2. Market Share Analysis, 2022
            15.3.2.1. By Payload Capacity
            15.3.2.2. By Mineral Type
    15.4. Mexico
        15.4.1. Pricing Analysis
        15.4.2. Market Share Analysis, 2022
            15.4.2.1. By Payload Capacity
            15.4.2.2. By Mineral Type
    15.5. Germany
        15.5.1. Pricing Analysis
        15.5.2. Market Share Analysis, 2022
            15.5.2.1. By Payload Capacity
            15.5.2.2. By Mineral Type
    15.6. UK
        15.6.1. Pricing Analysis
        15.6.2. Market Share Analysis, 2022
            15.6.2.1. By Payload Capacity
            15.6.2.2. By Mineral Type
    15.7. France
        15.7.1. Pricing Analysis
        15.7.2. Market Share Analysis, 2022
            15.7.2.1. By Payload Capacity
            15.7.2.2. By Mineral Type
    15.8. Spain
        15.8.1. Pricing Analysis
        15.8.2. Market Share Analysis, 2022
            15.8.2.1. By Payload Capacity
            15.8.2.2. By Mineral Type
    15.9. Italy
        15.9.1. Pricing Analysis
        15.9.2. Market Share Analysis, 2022
            15.9.2.1. By Payload Capacity
            15.9.2.2. By Mineral Type
    15.10. Poland
        15.10.1. Pricing Analysis
        15.10.2. Market Share Analysis, 2022
            15.10.2.1. By Payload Capacity
            15.10.2.2. By Mineral Type
    15.11. Russia
        15.11.1. Pricing Analysis
        15.11.2. Market Share Analysis, 2022
            15.11.2.1. By Payload Capacity
            15.11.2.2. By Mineral Type
    15.12. Czech Republic
        15.12.1. Pricing Analysis
        15.12.2. Market Share Analysis, 2022
            15.12.2.1. By Payload Capacity
            15.12.2.2. By Mineral Type
    15.13. Romania
        15.13.1. Pricing Analysis
        15.13.2. Market Share Analysis, 2022
            15.13.2.1. By Payload Capacity
            15.13.2.2. By Mineral Type
    15.14. India
        15.14.1. Pricing Analysis
        15.14.2. Market Share Analysis, 2022
            15.14.2.1. By Payload Capacity
            15.14.2.2. By Mineral Type
    15.15. Bangladesh
        15.15.1. Pricing Analysis
        15.15.2. Market Share Analysis, 2022
            15.15.2.1. By Payload Capacity
            15.15.2.2. By Mineral Type
    15.16. Australia
        15.16.1. Pricing Analysis
        15.16.2. Market Share Analysis, 2022
            15.16.2.1. By Payload Capacity
            15.16.2.2. By Mineral Type
    15.17. New Zealand
        15.17.1. Pricing Analysis
        15.17.2. Market Share Analysis, 2022
            15.17.2.1. By Payload Capacity
            15.17.2.2. By Mineral Type
    15.18. China
        15.18.1. Pricing Analysis
        15.18.2. Market Share Analysis, 2022
            15.18.2.1. By Payload Capacity
            15.18.2.2. By Mineral Type
    15.19. Japan
        15.19.1. Pricing Analysis
        15.19.2. Market Share Analysis, 2022
            15.19.2.1. By Payload Capacity
            15.19.2.2. By Mineral Type
    15.20. South Korea
        15.20.1. Pricing Analysis
        15.20.2. Market Share Analysis, 2022
            15.20.2.1. By Payload Capacity
            15.20.2.2. By Mineral Type
    15.21. GCC Countries
        15.21.1. Pricing Analysis
        15.21.2. Market Share Analysis, 2022
            15.21.2.1. By Payload Capacity
            15.21.2.2. By Mineral Type
    15.22. South Africa
        15.22.1. Pricing Analysis
        15.22.2. Market Share Analysis, 2022
            15.22.2.1. By Payload Capacity
            15.22.2.2. By Mineral Type
    15.23. Israel
        15.23.1. Pricing Analysis
        15.23.2. Market Share Analysis, 2022
            15.23.2.1. By Payload Capacity
            15.23.2.2. By Mineral Type
16. Market Structure Analysis
    16.1. Competition Dashboard
    16.2. Competition Benchmarking
    16.3. Market Share Analysis of Top Players
        16.3.1. By Regional
        16.3.2. By Payload Capacity
        16.3.3. By Mineral Type
17. Competition Analysis
    17.1. Competition Deep Dive
        17.1.1. JCB Ltd.
            17.1.1.1. Overview
            17.1.1.2. Product Portfolio
            17.1.1.3. Profitability by Market Segments
            17.1.1.4. Sales Footprint
            17.1.1.5. Strategy Overview
                17.1.1.5.1. Marketing Strategy
                17.1.1.5.2. Product Strategy
                17.1.1.5.3. Channel Strategy
        17.1.2. Volvo Construction Equipment
            17.1.2.1. Overview
            17.1.2.2. Product Portfolio
            17.1.2.3. Profitability by Market Segments
            17.1.2.4. Sales Footprint
            17.1.2.5. Strategy Overview
                17.1.2.5.1. Marketing Strategy
                17.1.2.5.2. Product Strategy
                17.1.2.5.3. Channel Strategy
        17.1.3. Caterpillar Inc.
            17.1.3.1. Overview
            17.1.3.2. Product Portfolio
            17.1.3.3. Profitability by Market Segments
            17.1.3.4. Sales Footprint
            17.1.3.5. Strategy Overview
                17.1.3.5.1. Marketing Strategy
                17.1.3.5.2. Product Strategy
                17.1.3.5.3. Channel Strategy
        17.1.4. Sandvik AB
            17.1.4.1. Overview
            17.1.4.2. Product Portfolio
            17.1.4.3. Profitability by Market Segments
            17.1.4.4. Sales Footprint
            17.1.4.5. Strategy Overview
                17.1.4.5.1. Marketing Strategy
                17.1.4.5.2. Product Strategy
                17.1.4.5.3. Channel Strategy
        17.1.5. Hitachi Construction Machinery Co. Ltd.
            17.1.5.1. Overview
            17.1.5.2. Product Portfolio
            17.1.5.3. Profitability by Market Segments
            17.1.5.4. Sales Footprint
            17.1.5.5. Strategy Overview
                17.1.5.5.1. Marketing Strategy
                17.1.5.5.2. Product Strategy
                17.1.5.5.3. Channel Strategy
        17.1.6. Metso Corporation
            17.1.6.1. Overview
            17.1.6.2. Product Portfolio
            17.1.6.3. Profitability by Market Segments
            17.1.6.4. Sales Footprint
            17.1.6.5. Strategy Overview
                17.1.6.5.1. Marketing Strategy
                17.1.6.5.2. Product Strategy
                17.1.6.5.3. Channel Strategy
        17.1.7. Komatsu Limited
            17.1.7.1. Overview
            17.1.7.2. Product Portfolio
            17.1.7.3. Profitability by Market Segments
            17.1.7.4. Sales Footprint
            17.1.7.5. Strategy Overview
                17.1.7.5.1. Marketing Strategy
                17.1.7.5.2. Product Strategy
                17.1.7.5.3. Channel Strategy
        17.1.8. Boart Longyear Ltd.
            17.1.8.1. Overview
            17.1.8.2. Product Portfolio
            17.1.8.3. Profitability by Market Segments
            17.1.8.4. Sales Footprint
            17.1.8.5. Strategy Overview
                17.1.8.5.1. Marketing Strategy
                17.1.8.5.2. Product Strategy
                17.1.8.5.3. Channel Strategy
        17.1.9. China National Coal Mining Equipment Co. Ltd
            17.1.9.1. Overview
            17.1.9.2. Product Portfolio
            17.1.9.3. Profitability by Market Segments
            17.1.9.4. Sales Footprint
            17.1.9.5. Strategy Overview
                17.1.9.5.1. Marketing Strategy
                17.1.9.5.2. Product Strategy
                17.1.9.5.3. Channel Strategy
        17.1.10. Liebherr Group
            17.1.10.1. Overview
            17.1.10.2. Product Portfolio
            17.1.10.3. Profitability by Market Segments
            17.1.10.4. Sales Footprint
            17.1.10.5. Strategy Overview
                17.1.10.5.1. Marketing Strategy
                17.1.10.5.2. Product Strategy
                17.1.10.5.3. Channel Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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