Global electric mining equipment market is projected to reach USD 11.7 billion by 2030, growing at a CAGR of 19.6% during the forecast period - as per Tersus Strategy Report

MILWAUKEE, Feb. 14, 2022 /PRNewswire/ -- The "Global Mining Equipment Market by Equipment Type (Underground Mining Equipment, Surface Mining Equipment, Mining Drills and Others), by Propulsion (Hybrid-Electric, Battery-Electric), by Power Source (Lithium-Ion Battery, Lead-Acid Battery and Others), by Application (Mineral Mining, Metal Mining and Coal Mining), by Solution (Products, Services) and by Regions - Forecast to 2030" report has been added to Tersus Strategy's offering.

The mining industry contributes 2 to 3 percent of global CO2 emissions and has a large role to play in emissions reduction. The industry is facing increasing pressure from regulators, investors, and customers to decarbonize operations. The sustainability of miners is increasingly a focus for the capital markets, with access to capital now more frequently dependent on sustainability. The cost of capital can be 20 to 25 percent higher for those miners with the lowest ESG scores. Simultaneously, customers are exerting increasing pressure.

Many of the largest miners in the world have been taking action by setting increasingly ambitious targets for their CO2 emissions. For example, since 2020, BHP and Vale have been targeting a 30 percent reduction in Scope 1 and 2 emissions by 2030; Rio Tinto is targeting 15 percent.

Electrification is one of the biggest technology shifts in mining, along with digitalization and automation. Improving economics and the benefits of license to operate are driving more companies to consider electrification, and some have already begun this journey. Most new mines are considering including battery based equipment in their mine plans.

Today 40 to 50 percent of CO2 emissions come from diesel used in mobile equipment. To go fully carbon neutral, a shift in drivetrains is required, with battery electric vehicles (BEVs) being the best possible long-term option.

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The mines' electrification is focused mainly on underground mining owing to the reduced exhaust emission and improved worker safety. The search for mineral resources is driving the mining companies to delve deeper to extract materials. The use of diesel equipment leads to an increased operational cost owing to a large amount of spending in exhaust ventilation infrastructure necessary to keep the working environment safe.

Mining trucks segment, by underground electric mining equipment market, is projected to be the largest market during the forecast period: The requirement of mining trucks is high as they are used to move dirt, minerals, metals, and coal. In underground mining, diesel equipment generates dangerous fumes that are harmful to operators. Hence, underground mining equipment electrification is likely to take place at a faster rate as compared to surface mining equipment.

Product segment is projected to be the largest market during the forecast period. The services segment is estimated to grow at the highest CAGR during the forecast: For OEMs, there is an opportunity to drive innovation in this new and promising field. Beyond equipment, new service-type opportunities could arise in areas such as battery-as-a-service solutions, peak-balancing services, and connected services around energy optimization

Based on region, North America is expected to account for the largest share of the electric mining equipment market by 2030

The North American market is expected to be the largest region in terms of market share during the forecast period, especially the US. The growth of the US market is driven primarily by the environmental protection measures, with the upcoming stringent emission norms for fuel economy in the country, and local companies are making efforts to manufacture electric and hybrid equipment for the domestic market.

Moreover, companies are developing advanced solid-state battery technology with the aim to minimize drawbacks of the conventional battery types in electric loaders and excavators are further expected to drive the growth for the electric mining equipment in the US.

For more information about this report visit https://tersusstrategy.com/product/global-electric-mining-equipment-market-2022-2030/

Key Topics Covered:

1.            Report Scope
1.1.         Market Segmentation and scope
1.2.         Regional Scope
1.3.         Estimates and forecast timeline

2.            Market Research Methodology
2.1.         Research methodology and design
2.2.         Sample selection
2.3.         Reliability and validity

3.            Executive Summary

4.            Market Analysis
4.1.         Market size and growth rates
4.2.         Market growth drivers, market dynamics and trends
4.3.         Market scenarios and opportunity forecasts
4.4.         Market constraints and challenges
4.5.         National hydrogen strategy
4.6.         Industry value chain analysis
4.7.         Industry analysis – Porter's|
4.7.1.     Threat of new entrants
4.7.2.     Bargaining power of suppliers
4.7.3.     Bargaining power of buyers
4.7.4.     Threat of substitutes
4.7.5.     Competitive rivalry
4.8.         PEST analysis
4.8.1.     Political/legal landscape
4.8.2.     Economic landscape
4.8.3.     Social landscape
4.8.4.     Technological landscape

5.            Market Breakdown – by Equipment Type
5.1.         Introduction
5.2.         Underground Mining Equipment
5.2.1.     Mining Truck
5.2.2.     LHD
5.2.3.     Shovels
5.2.4.     Hydraulic Excavator
5.2.5.     Mining Dozer
5.3.         Surface Mining Equipment
5.3.1.     Crawler Excavators
5.3.2.     Crawler Dozer
5.3.3.     Motor Grader
5.3.4.     Dumpers
5.4.         Mining Drills
5.5.         Others

6.            Market Breakdown – by Propulsion
6.1.         Introduction
6.2.         Hybrid-Electric
6.3.         Battery-Electric

7.            Market Breakdown – by Power Source
7.1.         Introduction
7.2.         Lithium-Ion Battery
7.3.         Lead-Acid Battery
7.4.         Others

8.            Market Breakdown – by Application
8.1.         Introduction
8.2.         Mineral Mining
8.3.         Metal Mining
8.4.         Coal Mining

9.            Market Breakdown – by Solution
9.1.         Introduction
9.2.         Products
9.3.         Services

10.          Market Breakdown – by Geography
10.1.      North America
10.1.1.   North America Electric Mining Equipment Market, 2022-2030
10.1.2.   North America Electric Mining Equipment Market, by Equipment Type
10.1.3.   North America Electric Mining Equipment Market, by Propulsion
10.1.4.   North America Electric Mining Equipment Market, by Power Source
10.1.5.   North America Electric Mining Equipment Market, by Application 
10.1.6.   North America Electric Mining Equipment Market, by Solution
10.1.7.   North America Electric Mining Equipment Market, by Country
10.1.7.1.               U.S.
10.1.7.1.1.           U.S. Electric Mining Equipment Market, 2022-2030
10.1.7.1.2.           U.S. Electric Mining Equipment Market, by Equipment Type
10.1.7.1.3.           U.S. Electric Mining Equipment Market, by Propulsion
10.1.7.1.4.           U.S. Electric Mining Equipment Market, by Power Source
10.1.7.1.5.           U.S. Electric Mining Equipment Market, by Application  
10.1.7.1.6.           U.S. Electric Mining Equipment Market, by Solution
10.1.7.2.               Canada
10.1.7.2.1.           Canada Electric Mining Equipment Market, 2022-2030
10.1.7.2.2.           Canada Electric Mining Equipment Market, by Equipment Type
10.1.7.2.3.           Canada Electric Mining Equipment Market, by Propulsion
10.1.7.2.4.           Canada Electric Mining Equipment Market, by Power Source
10.1.7.2.5.           Canada Electric Mining Equipment Market, by Application  
10.1.7.2.6.           Canada Electric Mining Equipment Market, by Solution
10.1.7.3.               Mexico
10.1.7.3.1.           Mexico Electric Mining Equipment Market, 2022-2030
10.1.7.3.2.           Mexico Electric Mining Equipment Market, by Equipment Type
10.1.7.3.3.           Mexico Electric Mining Equipment Market, by Propulsion
10.1.7.3.4.           Mexico Electric Mining Equipment Market, by Power Source
10.1.7.3.5.           Mexico Electric Mining Equipment Market, by Application  
10.1.7.3.6.           Mexico Electric Mining Equipment Market, by Solution
10.2.      South America
10.2.1.   South America Electric Mining Equipment Market, 2022-2030
10.2.2.   South America Electric Mining Equipment Market, by Equipment Type
10.2.3.   South America Electric Mining Equipment Market, by Propulsion
10.2.4.   South America Electric Mining Equipment Market, by Power Source
10.2.5.   South America Electric Mining Equipment Market, by Application 
10.2.6.   South America Electric Mining Equipment Market, by Solution
10.2.7.   South America Electric Mining Equipment Market, by Country
10.2.7.1.               Brazil
10.2.7.1.1.           Brazil Electric Mining Equipment Market, 2022-2030
10.2.7.1.2.           Brazil Electric Mining Equipment Market, by Equipment Type
10.2.7.1.3.           Brazil Electric Mining Equipment Market, by Propulsion
10.2.7.1.4.           Brazil Electric Mining Equipment Market, by Power Source
10.2.7.1.5.           Brazil Electric Mining Equipment Market, by Application  
10.2.7.1.6.           Brazil Electric Mining Equipment Market, by Solution
10.2.7.2.               Chile
10.2.7.2.1.           Chile Electric Mining Equipment Market, 2022-2030
10.2.7.2.2.           Chile Electric Mining Equipment Market, by Equipment Type
10.2.7.2.3.           Chile Electric Mining Equipment Market, by Propulsion
10.2.7.2.4.           Chile Electric Mining Equipment Market, by Power Source
10.2.7.2.5.           Chile Electric Mining Equipment Market, by Application  
10.2.7.2.6.           Chile Electric Mining Equipment Market, by Solution
10.2.7.3.               Peru
10.2.7.3.1.           Peru Electric Mining Equipment Market, 2022-2030
10.2.7.3.2.           Peru Electric Mining Equipment Market, by Equipment Type
10.2.7.3.3.           Peru Electric Mining Equipment Market, by Propulsion
10.2.7.3.4.           Peru Electric Mining Equipment Market, by Power Source
10.2.7.3.5.           Peru Electric Mining Equipment Market, by Application  
10.2.7.3.6.           Peru Electric Mining Equipment Market, by Solution
10.2.7.4.               Colombia
10.2.7.4.1.           Colombia Electric Mining Equipment Market, 2022-2030
10.2.7.4.2.           Colombia Electric Mining Equipment Market, by Equipment Type
10.2.7.4.3.           Colombia Electric Mining Equipment Market, by Propulsion
10.2.7.4.4.           Colombia Electric Mining Equipment Market, by Power Source
10.2.7.4.5.           Colombia Electric Mining Equipment Market, by Application  
10.2.7.4.6.           Colombia Electric Mining Equipment Market, by Solution
10.2.7.5.               Venezuela
10.2.7.5.1.           Venezuela Electric Mining Equipment Market, 2022-2030
10.2.7.5.2.           Venezuela Electric Mining Equipment Market, by Equipment Type
10.2.7.5.3.           Venezuela Electric Mining Equipment Market, by Propulsion
10.2.7.5.4.           Venezuela Electric Mining Equipment Market, by Power Source
10.2.7.5.5.           Venezuela Electric Mining Equipment Market, by Application  
10.2.7.5.6.           Venezuela Electric Mining Equipment Market, by Solution
10.3.      Europe
10.3.1.   Europe Electric Mining Equipment Market, 2022-2030
10.3.2.   Europe Electric Mining Equipment Market, by Equipment Type
10.3.3.   Europe Electric Mining Equipment Market, by Propulsion
10.3.4.   Europe Electric Mining Equipment Market, by Power Source
10.3.5.   Europe Electric Mining Equipment Market, by Application 
10.3.6.   Europe Electric Mining Equipment Market, by Solution
10.3.7.   Europe Electric Mining Equipment Market, by Country
10.3.7.1.               Poland
10.3.7.1.1.           Poland Electric Mining Equipment Market, 2022-2030
10.3.7.1.2.           Poland Electric Mining Equipment Market, by Equipment Type
10.3.7.1.3.           Poland Electric Mining Equipment Market, by Propulsion
10.3.7.1.4.           Poland Electric Mining Equipment Market, by Power Source
10.3.7.1.5.           Poland Electric Mining Equipment Market, by Application  
10.3.7.1.6.           Poland Electric Mining Equipment Market, by Solution
10.3.7.2.               Romania
10.3.7.2.1.           Romania Electric Mining Equipment Market, 2022-2030
10.3.7.2.2.           Romania Electric Mining Equipment Market, by Equipment Type
10.3.7.2.3.           Romania Electric Mining Equipment Market, by Propulsion
10.3.7.2.4.           Romania Electric Mining Equipment Market, by Power Source
10.3.7.2.5.           Romania Electric Mining Equipment Market, by Application  
10.3.7.2.6.           Romania Electric Mining Equipment Market, by Solution
10.3.7.3.               Sweden
10.3.7.3.1.           Sweden Electric Mining Equipment Market, 2022-2030
10.3.7.3.2.           Sweden Electric Mining Equipment Market, by Equipment Type
10.3.7.3.3.           Sweden Electric Mining Equipment Market, by Propulsion
10.3.7.3.4.           Sweden Electric Mining Equipment Market, by Power Source
10.3.7.3.5.           Sweden Electric Mining Equipment Market, by Application  
10.3.7.3.5.1.        Sweden Electric Mining Equipment Market, by Solution
10.3.7.4.               Serbia
10.3.7.4.1.           Serbia Electric Mining Equipment Market, 2022-2030
10.3.7.4.2.           Serbia Electric Mining Equipment Market, by Equipment Type
10.3.7.4.3.           Serbia Electric Mining Equipment Market, by Propulsion
10.3.7.4.4.           Serbia Electric Mining Equipment Market, by Power Source
10.3.7.4.5.           Serbia Electric Mining Equipment Market, by Application  
10.3.7.4.6.           Serbia Electric Mining Equipment Market, by Solution
10.3.7.5.               Finland
10.3.7.5.1.           Finland Electric Mining Equipment Market, 2022-2030
10.3.7.5.2.           Finland Electric Mining Equipment Market, by Equipment Type
10.3.7.5.3.           Finland Electric Mining Equipment Market, by Propulsion
10.3.7.5.4.           Finland Electric Mining Equipment Market, by Power Source
10.3.7.5.5.           Finland Electric Mining Equipment Market, by Application  
10.3.7.5.6.           Finland Electric Mining Equipment Market, by Solution
10.4.      Asia-Pacific
10.4.1.   APAC Electric Mining Equipment Market, 2022-2030
10.4.2.   APAC Electric Mining Equipment Market, by Equipment Type
10.4.3.   APAC Electric Mining Equipment Market, by Propulsion
10.4.4.   APAC Electric Mining Equipment Market, by Power Source
10.4.5.   APAC Electric Mining Equipment Market, by Application 
10.4.6.   APAC Electric Mining Equipment Market, by Solution
10.4.7.   APAC Electric Mining Equipment Market, by Country
10.4.7.1.               China
10.4.7.1.1.           China Electric Mining Equipment Market, 2022-2030
10.4.7.1.2.           China Electric Mining Equipment Market, by Equipment Type
10.4.7.1.3.           China Electric Mining Equipment Market, by Propulsion
10.4.7.1.4.           China Electric Mining Equipment Market, by Power Source
10.4.7.1.5.           China Electric Mining Equipment Market, by Application  
10.4.7.1.6.           China Electric Mining Equipment Market, by Solution
10.4.7.2.               India 
10.4.7.2.1.           India Electric Mining Equipment Market, 2022-2030
10.4.7.2.2.           India Electric Mining Equipment Market, by Equipment Type
10.4.7.2.3.           India Electric Mining Equipment Market, by Propulsion
10.4.7.2.4.           India Electric Mining Equipment Market, by Power Source
10.4.7.2.5.           India Electric Mining Equipment Market, by Application  
10.4.7.2.6.           India Electric Mining Equipment Market, by Solution
10.4.7.3.               Australia 
10.4.7.3.1.           Australia Electric Mining Equipment Market, 2022-2030
10.4.7.3.2.           Australia Electric Mining Equipment Market, by Equipment Type
10.4.7.3.3.           Australia Electric Mining Equipment Market, by Propulsion
10.4.7.3.4.           Australia Electric Mining Equipment Market, by Power Source
10.4.7.3.5.           Australia Electric Mining Equipment Market, by Application  
10.4.7.3.5.1.        Australia Electric Mining Equipment Market, by Solution
10.4.7.4.               Indonesia
10.4.7.4.1.           Indonesia Electric Mining Equipment Market, 2022-2030
10.4.7.4.2.           Indonesia Electric Mining Equipment Market, by Equipment Type
10.4.7.4.3.           Indonesia Electric Mining Equipment Market, by Propulsion
10.4.7.4.4.           Indonesia Electric Mining Equipment Market, by Power Source
10.4.7.4.5.           Indonesia Electric Mining Equipment Market, by Application  
10.4.7.4.6.           Indonesia Electric Mining Equipment Market, by Solution
10.5.      Middle East & Africa
10.5.1.   MEA Electric Mining Equipment Market, 2022-2030
10.5.2.   MEA Electric Mining Equipment Market, by Equipment Type
10.5.3.   MEA Electric Mining Equipment Market, by Propulsion
10.5.4.   MEA Electric Mining Equipment Market, by Power Source
10.5.5.   MEA Electric Mining Equipment Market, by Application 
10.5.6.   MEA Electric Mining Equipment Market, by Solution
10.5.7.   MEA Electric Mining Equipment Market, by Country
10.5.7.1.               South Africa
10.5.7.1.1.           South Africa Electric Mining Equipment Market, 2022-2030
10.5.7.1.2.           South Africa Electric Mining Equipment Market, by Equipment Type
10.5.7.1.3.           South Africa Electric Mining Equipment Market, by Propulsion
10.5.7.1.4.           South Africa Electric Mining Equipment Market, by Power Source
10.5.7.1.5.           South Africa Electric Mining Equipment Market, by Application  
10.5.7.1.6.           South Africa Electric Mining Equipment Market, by Solution
10.5.7.2.               Congo 
10.5.7.2.1.           Congo Electric Mining Equipment Market, 2022-2030
10.5.7.2.2.           Congo Electric Mining Equipment Market, by Equipment Type
10.5.7.2.3.           Congo Electric Mining Equipment Market, by Propulsion
10.5.7.2.4.           Congo Electric Mining Equipment Market, by Power Source
10.5.7.2.5.           Congo Electric Mining Equipment Market, by Application  
10.5.7.2.6.           Congo Electric Mining Equipment Market, by Solution
10.5.7.3.               Zambia 
10.5.7.3.1.           Zambia Electric Mining Equipment Market, 2022-2030
10.5.7.3.2.           Zambia Electric Mining Equipment Market, by Equipment Type
10.5.7.3.3.           Zambia Electric Mining Equipment Market, by Propulsion
10.5.7.3.4.           Zambia Electric Mining Equipment Market, by Power Source
10.5.7.3.5.           Zambia Electric Mining Equipment Market, by Application  
10.5.7.3.5.1.        Zambia Electric Mining Equipment Market, by Solution
10.5.7.4.               Iran
10.5.7.4.1.           Iran Electric Mining Equipment Market, 2022-2030
10.5.7.4.2.           Iran Electric Mining Equipment Market, by Equipment Type
10.5.7.4.3.           Iran Electric Mining Equipment Market, by Propulsion
10.5.7.4.4.           Iran Electric Mining Equipment Market, by Power Source
10.5.7.4.5.           Iran Electric Mining Equipment Market, by Application  
10.5.7.4.5.1.        Iran Electric Mining Equipment Market, by Solution
10.6.      CIS
10.6.1.   CIS Electric Mining Equipment Market, 2022-2030
10.6.2.   CIS Electric Mining Equipment Market, by Equipment Type
10.6.3.   CIS Electric Mining Equipment Market, by Propulsion
10.6.4.   CIS Electric Mining Equipment Market, by Power Source
10.6.5.   CIS Electric Mining Equipment Market, by Application 
10.6.6.   CIS Electric Mining Equipment Market, by Solution
10.6.7.   CIS Electric Mining Equipment Market, by Country
10.6.7.1.               Kazakhstan
10.6.7.1.1.           Kazakhstan Electric Mining Equipment Market, 2022-2030
10.6.7.1.2.           Kazakhstan Electric Mining Equipment Market, by Equipment Type
10.6.7.1.3.           Kazakhstan Electric Mining Equipment Market, by Propulsion
10.6.7.1.4.           Kazakhstan Electric Mining Equipment Market, by Power Source
10.6.7.1.5.           Kazakhstan Electric Mining Equipment Market, by Application  
10.6.7.1.6.           Kazakhstan Electric Mining Equipment Market, by Solution
10.6.7.2.               Russia 
10.6.7.2.1.           Russia Electric Mining Equipment Market, 2022-2030
10.6.7.2.2.           Russia Electric Mining Equipment Market, by Equipment Type
10.6.7.2.3.           Russia Electric Mining Equipment Market, by Propulsion
10.6.7.2.4.           Russia Electric Mining Equipment Market, by Power Source
10.6.7.2.5.           Russia Electric Mining Equipment Market, by Application
10.6.7.2.6.           Russia Electric Mining Equipment Market, by Solution

11.          Competitive Landscape
11.1.      Company Market Positioning
11.2.      Company Geographical Presence Analysis
11.3.      Market Revenue Share Analysis (%), by Leading Players

12.          Company Profiles

• Company Overview
• Financial Performance
• Product Benchmarking
• Recent Developments

12.1.      Sandvik AB (including Artisan Vehicle Systems)
12.2.      Caterpillar Inc.
12.3.      Epiroc AB
12.4.      Komatsu (including Joy Global, Le Tourneau)
12.5.      Liebherr
12.6.      Volvo Construction Equipment
12.7.      CNH Industrial NV
12.8.      SANY Heavy Equipment
12.9.      JCB
12.10.    Hitachi Construction machinery Co., Ltd.
12.11.    Hyundai Heavy Industries Holdings Co. (including Hyundai Doosan Infracore and Hyundai Construction Equipment Co., Ltd.)
12.12.    Deere & Company
12.13.    Maclean Engineering

Appendix

For more information about this report visit https://tersusstrategy.com/product/global-electric-mining-equipment-market-2022-2030/

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