Industry Outlook
The growth in the large mining shovels market has been stable over the last few years, majorly supported by steady growth in population and consequent demand for metals and minerals worldwide. With continual technology advancements, the large mining shovel market would be benefitted from the replacement of obsolete systems with the state-of-the-art equivalents. The trend is more prevalent in matured Triad economies (the U.S., Europe, and Japan) where mine operators are replacing their old machinery with advanced solutions in order to provide quality aggregates and meet demand. In addition, stringent government regulations forcing mine operators to deploy advanced machinery and electrical shovels that comply with the emission and safety regulations is further supporting market demand.Dragline Shovel are Being Rapidly Replace by More Advanced Version of Bucket Shovels
Dragline shovel is one of the biggest and most expensive mining equipment available for surface mining hence, dragline shovels are used for on-surface mining and high-value civil engineering projects. However, transportation of such shovels is highly complex and hence, are assembled on-site instead of driven it through by roads. Consequently, complexities associated with dragline shovels is providing a pathway to bucket shovels. However, hybrid shovel is packed with benefits of both dragline and bucket shovels. Subsequently, hybrid shovel is expected to demonstrate the fastest growth in coming years.Environmental Issues are Diverting Attention from Hydraulic Shovels Towards Electric Shovels
Majority of market share in overall large mining shovels market is claimed by hydraulic mining shovels. Hydraulic mining shovels derive power from conventional engines and hence are contributor to environmental issues such as global warming. Owing to this, several mining contractors and mining companies are slowly diverting their preference towards a more cleaner version of electric shovels. Large electric mining shovel is a new breed of mining equipment and is much appreciated over hydraulic version hence large electric mining shovels are expected to grow with highest growth rate in coming years. However, hydraulic large mining will retain its dominance throughout the forecast period.Growth in Surface Mining in Asia Pacific is Encouraging the Demand for Large Mining Shovel
90% of the global mining sectors are dominated by surface mining and hence large mining shovels market is flourishing in region predominantly in Asia Pacific. Consistent growth in surface mining in China and India has certainly encouraged the demand for large mining shovels. However, mines in North America and Europe are replacing their existing old large mining shovels with new ones propelling the demand for large mining shovels. Furthermore, consistent developing and mechanizing the existing mining infrastructure in Latin America and Africa region is also one of the prime factors in growth of demand for large mining shovels. Asia Pacific is expected to retain its dominant position throughout the forecast period from 2022 to 2030. Asia Pacific is followed by North America, Europe, and Rest of the World respectively.Competitive Landscape
The research study covers some of the leading large mining shovels markets including JCB Ltd., Caterpillar Inc., Hitachi Construction Machinery Co. Ltd., Volvo Construction Equipment, Komatsu Limited, Sandvik AB, China National Coal Mining Equipment Co. Ltd., Metso Corporation, Zhengzhou Coal Mining Machinery Group Co. Limited, and Boart Longyear Ltd. Every manufacturer participating in the large mining shovels market is an industry giant and is backed by a heavy market revenue and networking. Hence the market is highly concentrated by few of the top mining equipment manufacturing giants. Thus a very limited opportunities are left for new entrants to enter and claim their market share. These companies toil extremely hard in order to gain contracts from government and mining agencies in order to maintain their market position. Besides, continuous advancement in existing technologies and rising inclination towards electric version is one of the prime business strategies adopted by the companies.Historical & Forecast Period
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Large Mining Shovels market are as follows:- Research and development budgets of manufacturers and government spending
- Revenues of key companies in the market segment
- Number of end users and consumption volume, price and value.
- Geographical revenues generate by countries considered in the report
- Micro and macro environment factors that are currently influencing the Large Mining Shovels market and their expected impact during the forecast period.
Market Segmentation
Shovel
- Dragline Shovel
- Bucket Shovel
- Hybrid Shovel
Power Source
- Hydraulic Shovel
- Electric Shovel
Key questions answered in this report
- What are the key micro and macro environmental factors that are impacting the growth of Large Mining Shovels market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2030.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Large Mining Shovels market?
- Which is the largest regional market for Large Mining Shovels market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Large Mining Shovels market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Large Mining Shovels market worldwide?
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Table of Contents
1. Preface1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. Key Offerings
1.2. Market Segmentation
1.3. Research Methodology
1.3.1. Phase I - Secondary Research
1.3.2. Phase II - Primary Research
1.3.3. Phase III - Expert Panel Review
1.3.4. Assumptions
1.3.5. Approach Adopted
2. Executive Summary
2.1. Market Snapshot: Global Large Mining Shovels Market
2.2. Global Large Mining Shovels Market, By Shovel, 2021 (US$ Million)
2.3. Global Large Mining Shovels Market, By Power Source, 2021 (US$ Million)
2.4. Global Large Mining Shovels Market, By Geography, 2021 (US$ Million)
2.5. Attractive Investment Proposition by Geography, 2021
3. Large Mining Shovels Market: Competitive Analysis
3.1. Market Positioning of Key Large Mining Shovels Market Vendors
3.2. Strategies Adopted by Large Mining Shovels Market Vendors
3.3. Key Industry Strategies
3.4. Tier Analysis 2021 Versus 2030
4. Large Mining Shovels Market: Macro Analysis & Market Dynamics
4.1. Introduction
4.2. Global Large Mining Shovels Market Value, 2020 - 2030, (US$ Million)
4.3. Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Key Challenges
4.3.4. Key Opportunities
4.4. Impact Analysis of Drivers and Restraints
4.5. See-Saw Analysis
5. Large Mining Shovels Market: By Shovel, 2020-2030, USD (Million)
5.1. Market Overview
5.2. Growth & Revenue Analysis: 2021 Versus 2030
5.3. Market Segmentation
5.3.1. Dragline Shovel
5.3.2. Bucket Shovel
5.3.3. Hybrid Shovel
6. Large Mining Shovels Market: By Power Source, 2020-2030, USD (Million)
6.1. Market Overview
6.2. Growth & Revenue Analysis: 2021 Versus 2030
6.3. Market Segmentation
6.3.1. Hydraulic Shovel
6.3.2. Electric Shovel
7. North America Large Mining Shovels Market, 2020-2030, USD (Million)
7.1. Market Overview
7.2. Large Mining Shovels Market: By Shovel, 2020-2030, USD (Million)
7.3. Large Mining Shovels Market: By Power Source, 2020-2030, USD (Million)
7.4.Large Mining Shovels Market: By Region, 2020-2030, USD (Million)
7.4.1.North America
7.4.1.1. U.S.
7.4.1.1.1. Large Mining Shovels Market: By Shovel, 2020-2030, USD (Million)
7.4.1.1.1. Large Mining Shovels Market: By Power Source, 2020-2030, USD (Million)
7.4.1.2. Canada
7.4.1.2.1. Large Mining Shovels Market: By Shovel, 2020-2030, USD (Million)
7.4.1.2.1. Large Mining Shovels Market: By Power Source, 2020-2030, USD (Million)
7.4.1.3. Rest of North America
7.4.1.3.1. Large Mining Shovels Market: By Shovel, 2020-2030, USD (Million)
7.4.1.3.1. Large Mining Shovels Market: By Power Source, 2020-2030, USD (Million)
8. UK and European Union Large Mining Shovels Market, 2020-2030, USD (Million)
8.1. Market Overview
8.2. Large Mining Shovels Market: By Shovel, 2020-2030, USD (Million)
8.3. Large Mining Shovels Market: By Power Source, 2020-2030, USD (Million)
8.4.Large Mining Shovels Market: By Region, 2020-2030, USD (Million)
8.4.1.UK and European Union
8.4.1.1. UK
8.4.1.1.1. Large Mining Shovels Market: By Shovel, 2020-2030, USD (Million)
8.4.1.1.1. Large Mining Shovels Market: By Power Source, 2020-2030, USD (Million)
8.4.1.2. Germany
8.4.1.2.1. Large Mining Shovels Market: By Shovel, 2020-2030, USD (Million)
8.4.1.2.1. Large Mining Shovels Market: By Power Source, 2020-2030, USD (Million)
8.4.1.3. Spain
8.4.1.3.1. Large Mining Shovels Market: By Shovel, 2020-2030, USD (Million)
8.4.1.3.1. Large Mining Shovels Market: By Power Source, 2020-2030, USD (Million)
8.4.1.4. Italy
8.4.1.4.1. Large Mining Shovels Market: By Shovel, 2020-2030, USD (Million)
8.4.1.4.1. Large Mining Shovels Market: By Power Source, 2020-2030, USD (Million)
8.4.1.5. France
8.4.1.5.1. Large Mining Shovels Market: By Shovel, 2020-2030, USD (Million)
8.4.1.5.1. Large Mining Shovels Market: By Power Source, 2020-2030, USD (Million)
8.4.1.6. Rest of Europe
8.4.1.6.1. Large Mining Shovels Market: By Shovel, 2020-2030, USD (Million)
8.4.1.6.1. Large Mining Shovels Market: By Power Source, 2020-2030, USD (Million)
9. Asia Pacific Large Mining Shovels Market, 2020-2030, USD (Million)
9.1. Market Overview
9.2. Large Mining Shovels Market: By Shovel, 2020-2030, USD (Million)
9.3. Large Mining Shovels Market: By Power Source, 2020-2030, USD (Million)
9.4.Large Mining Shovels Market: By Region, 2020-2030, USD (Million)
9.4.1.Asia Pacific
9.4.1.1. China
9.4.1.1.1. Large Mining Shovels Market: By Shovel, 2020-2030, USD (Million)
9.4.1.1.1. Large Mining Shovels Market: By Power Source, 2020-2030, USD (Million)
9.4.1.2. Japan
9.4.1.2.1. Large Mining Shovels Market: By Shovel, 2020-2030, USD (Million)
9.4.1.2.1. Large Mining Shovels Market: By Power Source, 2020-2030, USD (Million)
9.4.1.3. India
9.4.1.3.1. Large Mining Shovels Market: By Shovel, 2020-2030, USD (Million)
9.4.1.3.1. Large Mining Shovels Market: By Power Source, 2020-2030, USD (Million)
9.4.1.4. Australia
9.4.1.4.1. Large Mining Shovels Market: By Shovel, 2020-2030, USD (Million)
9.4.1.4.1. Large Mining Shovels Market: By Power Source, 2020-2030, USD (Million)
9.4.1.5. South Korea
9.4.1.5.1. Large Mining Shovels Market: By Shovel, 2020-2030, USD (Million)
9.4.1.5.1. Large Mining Shovels Market: By Power Source, 2020-2030, USD (Million)
9.4.1.6. Rest of Asia Pacific
9.4.1.6.1. Large Mining Shovels Market: By Shovel, 2020-2030, USD (Million)
9.4.1.6.1. Large Mining Shovels Market: By Power Source, 2020-2030, USD (Million)
10. Latin America Large Mining Shovels Market, 2020-2030, USD (Million)
10.1. Market Overview
10.2. Large Mining Shovels Market: By Shovel, 2020-2030, USD (Million)
10.3. Large Mining Shovels Market: By Power Source, 2020-2030, USD (Million)
10.4.Large Mining Shovels Market: By Region, 2020-2030, USD (Million)
10.4.1.Latin America
10.4.1.1. Brazil
10.4.1.1.1. Large Mining Shovels Market: By Shovel, 2020-2030, USD (Million)
10.4.1.1.1. Large Mining Shovels Market: By Power Source, 2020-2030, USD (Million)
10.4.1.2. Mexico
10.4.1.2.1. Large Mining Shovels Market: By Shovel, 2020-2030, USD (Million)
10.4.1.2.1. Large Mining Shovels Market: By Power Source, 2020-2030, USD (Million)
10.4.1.3. Rest of Latin America
10.4.1.3.1. Large Mining Shovels Market: By Shovel, 2020-2030, USD (Million)
10.4.1.3.1. Large Mining Shovels Market: By Power Source, 2020-2030, USD (Million)
11. Middle East and Africa Large Mining Shovels Market, 2020-2030, USD (Million)
11.1. Market Overview
11.2. Large Mining Shovels Market: By Shovel, 2020-2030, USD (Million)
11.3. Large Mining Shovels Market: By Power Source, 2020-2030, USD (Million)
11.4.Large Mining Shovels Market: By Region, 2020-2030, USD (Million)
11.4.1.Middle East and Africa
11.4.1.1. GCC
11.4.1.1.1. Large Mining Shovels Market: By Shovel, 2020-2030, USD (Million)
11.4.1.1.1. Large Mining Shovels Market: By Power Source, 2020-2030, USD (Million)
11.4.1.2. Africa
11.4.1.2.1. Large Mining Shovels Market: By Shovel, 2020-2030, USD (Million)
11.4.1.2.1. Large Mining Shovels Market: By Power Source, 2020-2030, USD (Million)
11.4.1.3. Rest of Middle East and Africa
11.4.1.3.1. Large Mining Shovels Market: By Shovel, 2020-2030, USD (Million)
11.4.1.3.1. Large Mining Shovels Market: By Power Source, 2020-2030, USD (Million)
12. Company Profile
12.1. Caterpillar Inc.
12.1.1. Company Overview
12.1.2. Financial Performance
12.1.3. Product Portfolio
12.1.4. Strategic Initiatives
12.2. Hitachi Construction Machinery Co. Ltd.
12.2.1. Company Overview
12.2.2. Financial Performance
12.2.3. Product Portfolio
12.2.4. Strategic Initiatives
12.3. Volvo Construction Equipment
12.3.1. Company Overview
12.3.2. Financial Performance
12.3.3. Product Portfolio
12.3.4. Strategic Initiatives
12.4. Komatsu Limited
12.4.1. Company Overview
12.4.2. Financial Performance
12.4.3. Product Portfolio
12.4.4. Strategic Initiatives
12.5. Metso Corporation
12.5.1. Company Overview
12.5.2. Financial Performance
12.5.3. Product Portfolio
12.5.4. Strategic Initiatives
12.6. JCB Ltd.
12.6.1. Company Overview
12.6.2. Financial Performance
12.6.3. Product Portfolio
12.6.4. Strategic Initiatives
12.7. Sandvik AB
12.7.1. Company Overview
12.7.2. Financial Performance
12.7.3. Product Portfolio
12.7.4. Strategic Initiatives
12.8. Zhengzhou Coal Mining Machinery Group Co. Limited
12.8.1. Company Overview
12.8.2. Financial Performance
12.8.3. Product Portfolio
12.8.4. Strategic Initiatives
12.9. China National Coal Mining Equipment Co. Ltd.
12.9.1. Company Overview
12.9.2. Financial Performance
12.9.3. Product Portfolio
12.9.4. Strategic Initiatives
12.10. Boart Longyear Ltd.
12.10.1. Company Overview
12.10.2. Financial Performance
12.10.3. Product Portfolio
12.10.4. Strategic Initiatives
List of Figures
Figure 1 Global Large Mining Shovels Market: Market Coverage
Figure 2 Research Methodology and Data Sources
Figure 3 Market Size Estimation - Top Down & Bottom-Up Approach
Figure 4 Global Large Mining Shovels Market: Quality Assurance
Figure 5 Global Large Mining Shovels Market, By Shovel, 2021
Figure 6 Global Large Mining Shovels Market, By Power Source, 2021
Figure 7 Global Large Mining Shovels Market, By Geography, 2021
Figure 8 Market Geographical Opportunity Matrix - Global Large Mining Shovels Market, 2021
Figure 9 Market Positioning of Key Large Mining Shovels Market Players, 2021
Figure 10 Global Large Mining Shovels Market - Tier Analysis - Percentage of Revenues by Tier Level, 2021 Versus 2030
Figure 11 Global Large Mining Shovels Market, By Shovel, 2021 Vs 2030, %
Figure 12 Global Large Mining Shovels Market, By Power Source, 2021 Vs 2030, %
Figure 13 U.S. Large Mining Shovels Market (US$ Million), 2020 - 2030
Figure 14 Canada Large Mining Shovels Market (US$ Million), 2020 - 2030
Figure 15 Rest of North America Large Mining Shovels Market (US$ Million), 2020 - 2030
Figure 16 UK Large Mining Shovels Market (US$ Million), 2020 - 2030
Figure 17 Germany Large Mining Shovels Market (US$ Million), 2020 - 2030
Figure 18 Spain Large Mining Shovels Market (US$ Million), 2020 - 2030
Figure 19 Italy Large Mining Shovels Market (US$ Million), 2020 - 2030
Figure 20 France Large Mining Shovels Market (US$ Million), 2020 - 2030
Figure 21 Rest of Europe Large Mining Shovels Market (US$ Million), 2020 - 2030
Figure 22 China Large Mining Shovels Market (US$ Million), 2020 - 2030
Figure 23 Japan Large Mining Shovels Market (US$ Million), 2020 - 2030
Figure 24 India Large Mining Shovels Market (US$ Million), 2020 - 2030
Figure 25 Australia Large Mining Shovels Market (US$ Million), 2020 - 2030
Figure 26 South Korea Large Mining Shovels Market (US$ Million), 2020 - 2030
Figure 27 Rest of Asia Large Mining Shovels Market (US$ Million), 2020 - 2030
Figure 28 Brazil Large Mining Shovels Market (US$ Million), 2020 - 2030
Figure 29 Mexico Large Mining Shovels Market (US$ Million), 2020 - 2030
Figure 30 Rest of Latin America Large Mining Shovels Market (US$ Million), 2020 - 2030
Figure 31 GCC Large Mining Shovels Market (US$ Million), 2020 - 2030
Figure 32 Africa Large Mining Shovels Market (US$ Million), 2020 - 2030
Figure 33 Rest of Middle East and Africa Large Mining Shovels Market (US$ Million), 2020 - 2030
List of Tables
Table 1 Global Large Mining Shovels Market By Shovel, 2020-2030, USD (Million)
Table 2 Global Large Mining Shovels Market By Power Source, 2020-2030, USD (Million)
Table 3 North America Large Mining Shovels Market By Shovel, 2020-2030, USD (Million)
Table 4 North America Large Mining Shovels Market By Power Source, 2020-2030, USD (Million)
Table 5 U.S. Large Mining Shovels Market By Shovel, 2020-2030, USD (Million)
Table 6 U.S. Large Mining Shovels Market By Power Source, 2020-2030, USD (Million)
Table 7 Canada Large Mining Shovels Market By Shovel, 2020-2030, USD (Million)
Table 8 Canada Large Mining Shovels Market By Power Source, 2020-2030, USD (Million)
Table 9 Rest of North America Large Mining Shovels Market By Shovel, 2020-2030, USD (Million)
Table 10 Rest of North America Large Mining Shovels Market By Power Source, 2020-2030, USD (Million)
Table 11 UK and European Union Large Mining Shovels Market By Shovel, 2020-2030, USD (Million)
Table 12 UK and European Union Large Mining Shovels Market By Power Source, 2020-2030, USD (Million)
Table 13 UK Large Mining Shovels Market By Shovel, 2020-2030, USD (Million)
Table 14 UK Large Mining Shovels Market By Power Source, 2020-2030, USD (Million)
Table 15 Germany Large Mining Shovels Market By Shovel, 2020-2030, USD (Million)
Table 16 Germany Large Mining Shovels Market By Power Source, 2020-2030, USD (Million)
Table 17 Spain Large Mining Shovels Market By Shovel, 2020-2030, USD (Million)
Table 18 Spain Large Mining Shovels Market By Power Source, 2020-2030, USD (Million)
Table 19 Italy Large Mining Shovels Market By Shovel, 2020-2030, USD (Million)
Table 20 Italy Large Mining Shovels Market By Power Source, 2020-2030, USD (Million)
Table 21 France Large Mining Shovels Market By Shovel, 2020-2030, USD (Million)
Table 22 France Large Mining Shovels Market By Power Source, 2020-2030, USD (Million)
Table 23 Rest of Europe Large Mining Shovels Market By Shovel, 2020-2030, USD (Million)
Table 24 Rest of Europe Large Mining Shovels Market By Power Source, 2020-2030, USD (Million)
Table 25 Asia Large Mining Shovels Market By Shovel, 2020-2030, USD (Million)
Table 26 Asia Large Mining Shovels Market By Power Source, 2020-2030, USD (Million)
Table 27 China Large Mining Shovels Market By Shovel, 2020-2030, USD (Million)
Table 28 China Large Mining Shovels Market By Power Source, 2020-2030, USD (Million)
Table 29 Japan Large Mining Shovels Market By Shovel, 2020-2030, USD (Million)
Table 30 Japan Large Mining Shovels Market By Power Source, 2020-2030, USD (Million)
Table 31 India Large Mining Shovels Market By Shovel, 2020-2030, USD (Million)
Table 32 India Large Mining Shovels Market By Power Source, 2020-2030, USD (Million)
Table 33 Australia Large Mining Shovels Market By Shovel, 2020-2030, USD (Million)
Table 34 Australia Large Mining Shovels Market By Power Source, 2020-2030, USD (Million)
Table 35 South Korea Large Mining Shovels Market By Shovel, 2020-2030, USD (Million)
Table 36 South Korea Large Mining Shovels Market By Power Source, 2020-2030, USD (Million)
Table 37 Latin America Large Mining Shovels Market By Shovel, 2020-2030, USD (Million)
Table 38 Latin America Large Mining Shovels Market By Power Source, 2020-2030, USD (Million)
Table 39 Brazil Large Mining Shovels Market By Shovel, 2020-2030, USD (Million)
Table 40 Brazil Large Mining Shovels Market By Power Source, 2020-2030, USD (Million)
Table 41 Mexico Large Mining Shovels Market By Shovel, 2020-2030, USD (Million)
Table 42 Mexico Large Mining Shovels Market By Power Source, 2020-2030, USD (Million)
Table 43 Rest of Latin America Large Mining Shovels Market By Shovel, 2020-2030, USD (Million)
Table 44 Rest of Latin America Large Mining Shovels Market By Power Source, 2020-2030, USD (Million)
Table 45 Middle East and Africa Large Mining Shovels Market By Shovel, 2020-2030, USD (Million)
Table 46 Middle East and Africa Large Mining Shovels Market By Power Source, 2020-2030, USD (Million)
Table 47 GCC Large Mining Shovels Market By Shovel, 2020-2030, USD (Million)
Table 48 GCC Large Mining Shovels Market By Power Source, 2020-2030, USD (Million)
Table 49 Africa Large Mining Shovels Market By Shovel, 2020-2030, USD (Million)
Table 50 Africa Large Mining Shovels Market By Power Source, 2020-2030, USD (Million)
Table 51 Rest of Middle East and Africa Large Mining Shovels Market By Shovel, 2020-2030, USD (Million)
Table 52 Rest of Middle East and Africa Large Mining Shovels Market By Power Source, 2020-2030, USD (Million)
Companies Mentioned
- JCB Ltd.
- Caterpillar Inc.
- Hitachi Construction Machinery Co. Ltd.
- Volvo Construction Equipment
- Komatsu Limited
- Sandvik AB
- China National Coal Mining Equipment Co. Ltd.
- Metso Corporation
- Zhengzhou Coal Mining Machinery Group Co. Limited
- Boart Longyear Ltd.
