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Mining Remanufacturing Components Market Report and Forecast 2024-2032

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    Report

  • 204 Pages
  • November 2023
  • Region: Global
  • Expert Market Research
  • ID: 5921370
According to the report, the global mining remanufacturing components market is projected to grow at a CAGR of 3.5% between 2024 and 2032 reaching a value of approximate USD 5.88 billion by 2032. Aided by the surging demand for sustainable and cost-effective solutions in mining operations and the need for extending equipment life, the market is expected to grow significantly by 2032.

Mining remanufacturing components encompass parts that have been restored to their original performance specifications after being retrieved from used equipment. This process not only extends the lifecycle of the components but also offers a sustainable and economically viable alternative to replacing machinery. Typical remanufactured components in the mining industry include engines, transmissions, hydraulic cylinders, and various other integral parts of heavy machinery.

The escalating demand for minerals and metals due to urbanisation and technological advancements has placed a significant strain on mining equipment. Given the intense wear and tear these machinery experience, there's a continual need for component replacements. Remanufacturing emerges as a preferred choice in this scenario due to its cost-effective nature and shorter lead times compared to new components.

Furthermore, the industry's shift towards sustainability has played a pivotal role in driving the mining remanufacturing components market growth. As industries worldwide become more environmentally conscious, there's an increased focus on minimising waste, reducing the carbon footprint, and utilising resources judiciously. Remanufacturing aligns perfectly with these objectives, as it recycles and reuses materials, thereby reducing the demand for new raw materials and minimising environmental impact.

Additionally, the evolution of digital technologies and their integration into the mining sector has opened up new avenues for the mining remanufacturing components market. With the advent of Industry 4.0, predictive maintenance powered by AI and IoT can predict equipment failures and recommend timely interventions. This not only enhances the life of the equipment but also offers a proactive approach to remanufacturing, thereby ensuring machinery downtime is minimised.

Another factor bolstering the mining remanufacturing components market demand is the rise in partnerships and collaborations between mining companies and original equipment manufacturers (OEMs). These partnerships, often long-term, ensure that remanufactured components meet the stringent quality standards set by OEMs. Such collaborations also facilitate knowledge sharing, leading to continuous improvements in the remanufacturing process, enhancing component longevity and performance.

Moreover, mining operations in emerging economies are witnessing increased investments. As these operations expand, there's an inevitable rise in demand for machinery and, by extension, their components. Given that these economies are price-sensitive, the relatively lower costs of remanufactured components compared to new ones make them an attractive proposition, further impacting the mining remanufacturing components market outlook.

Market Segmentation

The market can be divided based on component, industry, equipment, and region.

Market Breakup by Component

  • Engine
  • Hydraulic Cylinder
  • Axle
  • Differential
  • Transmission
  • Torque Converter
  • Final Drive

Market Breakup by Industry

  • Coal
  • Metal
  • Others

Market Breakup by Equipment

  • Hydraulic Excavator
  • Mine/Haul Truck
  • Wheel Loader
  • Wheel Dozer
  • Crawler Dozer

Market Breakup by Region

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

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global mining remanufacturing components market. Some of the major players explored in the report are as follows:
  • Caterpillar Inc.
  • Liebherr-International Deutschland GmbH
  • Hitachi Construction Machinery Co. Ltd.
  • Komatsu Ltd
  • VOLVO Construction Equipment (Volvo CE)
  • Others

Table of Contents

1 Preface2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Mining Remanufacturing Components Market Analysis
8.1 Key Industry Highlights
8.2 Global Mining Remanufacturing Components Historical Market (2018-2023)
8.3 Global Mining Remanufacturing Components Market Forecast (2024-2032)
8.4 Global Mining Remanufacturing Components Market by Component
8.4.1 Engine
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Hydraulic Cylinder
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Axle
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Differential
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Transmission
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Torque Converter
8.4.6.1 Historical Trend (2018-2023)
8.4.6.2 Forecast Trend (2024-2032)
8.4.7 Final Drive
8.4.7.1 Historical Trend (2018-2023)
8.4.7.2 Forecast Trend (2024-2032)
8.5 Global Mining Remanufacturing Components Market by Industry
8.5.1 Coal
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Metal
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Others
8.6 Global Mining Remanufacturing Components Market by Equipment
8.6.1 Hydraulic Excavator
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Mine/Haul Truck
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Wheel Loader
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Wheel Dozer
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Crawler Dozer
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
8.7 Global Mining Remanufacturing Components Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Mining Remanufacturing Components Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Mining Remanufacturing Components Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Mining Remanufacturing Components Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.2 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Mining Remanufacturing Components Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Mining Remanufacturing Components Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter's Five Forces Analysis
14.2.1 Supplier's Power
14.2.2 Buyer's Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Caterpillar Inc.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Liebherr-International Deutschland GmbH
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Hitachi Construction Machinery Co. Ltd.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Komatsu Ltd
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 VOLVO Construction Equipment (Volvo CE)
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Mining Remanufacturing Components Market: Key Industry Highlights, 2018 and 2032
2. Global Mining Remanufacturing Components Historical Market: Breakup by Component (USD Million), 2018-2023
3. Global Mining Remanufacturing Components Market Forecast: Breakup by Component (USD Million), 2024-2032
4. Global Mining Remanufacturing Components Historical Market: Breakup by Industry (USD Million), 2018-2023
5. Global Mining Remanufacturing Components Market Forecast: Breakup by Industry (USD Million), 2024-2032
6. Global Mining Remanufacturing Components Historical Market: Breakup by Equipment (USD Million), 2018-2023
7. Global Mining Remanufacturing Components Market Forecast: Breakup by Equipment (USD Million), 2024-2032
8. Global Mining Remanufacturing Components Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Mining Remanufacturing Components Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Mining Remanufacturing Components Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Mining Remanufacturing Components Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Mining Remanufacturing Components Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Mining Remanufacturing Components Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Mining Remanufacturing Components Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Mining Remanufacturing Components Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Mining Remanufacturing Components Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Mining Remanufacturing Components Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Mining Remanufacturing Components Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Mining Remanufacturing Components Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Global Mining Remanufacturing Components Market Structure

Companies Mentioned

  • Caterpillar Inc. (NYSE: CAT)
  • Liebherr Group
  • Hitachi Construction Machinery (TYO: 6305)
  • Komatsu Limited (TYO: 6301)
  • VOLVO Construction Equipment

Methodology

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Table Information