The Mining Remanufacturing Components Market is projected to grow at a 2.83% rate during the forecast period. The mining remanufacturing components are driven primarily by the growing mining equipment park & equipment working hours and lower cost of remanufactured mining components as compared with OEM products.Hydraulic cylinder is expected to be the largest market, by components, during the forecast period. The major driving factor for global market is cost. A remanufactured component can cost 25-35% lower than a new one and has similar performance. This reduces the lead time and increases the operational efficiency of the equipment.
The demand for remanufactured components is projected to be highest in hydraulic excavators over the forecast period. The hydraulic excavator is a heavy mining equipment which is used to dig out soil from the ground or to move large objects. It tremendously enhances the productivity of any mining work.
Coal mining remanufacturing components market is estimated to be the largest market. The count of mining equipment used in the coal industry is more in comparison to metal and mineral industry. According to the World Coal Association, 7,269 MT hard coal and 787 MT lignite coals are produced globally with Asia Oceania holding the largest share in 2017.
The Americas is expected to account for the largest market share during the forecast period. A positive measure adopted by the US, such as low-interest rates and increasing demand for commodities has boosted investment in the mining industry. The growth is attributed to the presence of large deposits of gold, iron, coal, copper, crushed rocks, zinc-lead, and rare earth materials in this region.
Key Market Players include Caterpillar (US), Komatsu (Japan), Hitachi Construction Machinery (Japan), Liebherr (Switzerland), Epiroc (Sweden), Atlas Copco (Sweden), JCB (UK), Volvo Construction Equipment (Sweden), SRC Holdings Corporation (US), and Swanson Industries (US).
Key Questions addressed by the report
- What would be the regional demand for remanufactured components in the mining industry during the next seven years?
- Existing and upcoming market trends in remanufactured components demand by equipment type next few years?
- What would be the Industry-wise demand for remanufactured components in mining equipment in coming years?
- Insights about trends in average working hours of mining equipment; and hence, average life of component replacement.
- Future electrification trends in the mining equipment industry, and how would it impact the remanufactured components market in the coming years?
- Competitive leadership mapping of key players represented in a four-quadrant box representing the visionary leaders as well as dynamic differentiators.
- Introduction
- Market Definition
- Study Scope
- Study Period
- Market Stakeholders
- Research Methodology
- Secondary Research
- Primary Research
- Research Design
- Data Validation
- Limitations and Assumptions
- Market Dynamics
- Drivers
- Lower Cost of Remanufactured Mining Component
- Inventory Issues With OEMs for Mining Equipment
- Challenges
- Rising Development of Electric Mining Equipment
- Growing Presence of Local Players
- Opportunities
- Growing Demand for Metals and Commodities Around the Globe
- Executive Summary
- Mining Remanufacturing Components Market, By Component
- Engine
- Hydraulic Cylinder
- Axle
- Differential
- Transmission
- Torque Convertor
- Final Drive
- Mining Remanufacturing Components Market, By Industry
- Coal
- Metal
- Other Minerals
- Mining Remanufacturing Components Market, By Equipment
- Hydraulic Excavator
- Mine/Haul Truck
- Wheel Loader
- Wheel Dozer
- Crawler Dozers
- Mining Remanufacturing Components Market, By Region
- Asia Oceania
- Australia
- China
- India
- Japan
- Europe
- France
- Germany
- Spain
- UK
- Italy
- Russia
- Americas
- US
- Mexico
- Canada
- Argentina
- Peru
- Chile
- Company Profiles
- Caterpillar
- Liebherr
- Hitachi Construction Machinery
- Komatsu
- Epiroc
- Atlas Copco
- JCB
- VOLVO Construction Equipment
- SRC Holdings Corporation
- Swanson Industries
- John Deere
- Brake Supply
- Axletech
- Cardinal Mining Equipment
- Detroit Reman
*Company introduction, financial information, recent developments, SWOT analysis
- Conclusion and Recommendations
- Appendix
- About
- Related Reports
- Glossary
