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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Mining Remanufacturing Components Market Outlook
The global mining remanufacturing components market attained a value of USD 4.53 billion in 2023. The industry is further expected to grow in the forecast period of 2024-2032 at a CAGR of 3.5% to reach USD 6.16 billion by 2032.
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The Asia Pacific is the fastest-growing region for the industry. An increase in energy demand in countries, including China, India, and Australia has led to an increase in coal requirements. The increasing demand for coal is directly proportional to the use of mining equipment, which is aiding the market growth.
Market Segmentation
Based on the components, the industry can be divided into:
- Engine
- Hydraulic Cylinder
- Axle
- Differential
- Transmission
- Torque Converter
- Final Drive
The industry can be divided into coal and metal, among others.
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The industry can be broadly categorised based on equipment into:
- Hydraulic Excavator
- Mine/Haul Truck
- Wheel Loader
- Wheel Dozer
- Crawler Dozer
The EMR report looks into the regional markets of mining remanufacturing components like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
Market Analysis
The growth of mining activities, especially in developing countries and the increased demand for resource exploration, have a positive impact on the remanufacturing components market. Factors like lower costs of remanufacturing mining components compared with new parts are driving the growth of the industry. Wheel loader is expected to witness the highest demand in the forecast period owing to its flexibility.
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Competitive Landscape
The report presents a detailed analysis of the following key players in the global mining remanufacturing components market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Caterpillar Inc. (NYSE: CAT)
- Liebherr Group
- Hitachi Construction Machinery
- Komatsu Limited
- VOLVO Construction Equipment
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Industry |
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| Breakup by Equipment |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global mining remanufacturing components market reached a value of USD 4.53 billion in 2023.
The market is projected to grow at a CAGR of nearly 3.5% in the forecast period of 2024-2032.
The market is estimated to reach a value of about USD 6.16 billion by 2032.
The major drivers of the market include the rising disposable incomes, increasing population, rising demand for coal, and the rising demand for resource exploration.
The lower cost of remanufacturing mining components is expected to be a key trend guiding the growth of the market.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market.
The leading components in the market are engine, hydraulic cylinder, axle, differential, transmission, torque converter, and final drive.
The major industries for mining remanufacturing components in the market are coal and metal, among others.
The significant equipment segments in the market are hydraulic excavator, mine/haul truck, wheel loader, wheel dozer, and crawler dozer.
The leading players in the market are Caterpillar Inc., Liebherr-International Deutschland GmbH, Hitachi Construction Machinery Co. Ltd., Komatsu Ltd, and VOLVO Construction Equipment (Volvo CE), among others.
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