Working in the mining industry can be a dangerous and challenging task due to extreme working conditions and multiple emergency situations. Extracting resources from the Earth is a laborious task and requires heavy mining equipment that can perform the toughest of tasks. The market size of the mining equipment is valued at USD 90000 Million approximately. There are various categories and types of mining equipment including dozers, loaders, trucks, drillers, crushers, dryers, feeders, conveyor belts, hydraulic pumps, and compressors. Each kind of mining equipment is used in its own set of mining activity and differs in the function they perform. Although the mining industry has been functioning all the same since its inception, the recent incorporation of digital technologies has substantially enhanced the productivity of mining equipment. The procurement market intelligence report form SpendEdge also indicates that the category spend will be driven by rising mining activities in the APAC region.
Top 5 Mining Equipment Manufacturers
Komatsu is a Japanese multinational corporation involved in the manufacturing of construction, mining, and military equipment. The company also manufactures industrial equipment like press machines, lasers, and thermoelectric generators. Their construction and mining equipment consists of machines including electric rope shovels, continuous miners, hydraulic excavators, wheel loaders, motor graders, dump trucks, and mini excavators. In April 2017, the American subsidiary of Komatsu acquired Joy Global, a world leader in high-productivity mining solutions. The company also recently announced a partnership with NVIDIA to improve the safety and productivity of construction job site operations by introducing AI.
Caterpillar Inc. is an American Fortune 100 corporation that manufactures machinery, engines, financial products, and insurance to customers via a worldwide dealer network. They are also the largest construction and mining equipment manufacturer in the world. It sells its wide array of products under the brand names CAT, CAT Financial, CAT Reman, Anchor, Asiatrak, FG Wilson, Perkins, Hypac, Mak, and Yellowmark. The company was ranked 194 on the Fortune 500 global list in the year 2016.
Atlas Copco, founded in 1873, is a Swedish company that manufactures industrial tools and equipment. They boast a wide variety of product range which includes air compressors and industrial gases, vacuum solutions, mobile tools, industrial tools and solutions, mining and rock excavation equipment. Atlas Copco is seeking to acquire assets of Renegade Drilling Supplies Proprietary, a South African manufacturer of drilling consumables for mining exploration. The company reported revenues of $11 billion for the year 2016 with sales in over 180 countries.
Sandvik is a global high-technology engineering group specializing in tools and tooling systems for metal cutting, tools, and services for the mining and construction industries. Their key services include machining solutions, mining and rock technology, and materials technology. The mining equipment manufacturer has employed 43,000 employees over 150 countries to generate revenues of $9 billion in the year 2016. It was one of the first company to commercially exploit Bessemer steel process. They have categorized their products into metal cutting tools, mining and excavation tools, stainless steel, furnace products, and hard and super-hard materials.
Hitachi Construction Machinery
Hitachi is a Japanese construction equipment manufacturer that deals with the development, manufacturing, marketing, and sales of construction equipment. Their mining equipment consists of excavators, loaders, recycle machines, compaction equipment, crawler cranes, dump trucks, and bulldozers. In March 2017, Hitachi Construction Machinery entered into a partnership with Trimble to enhance its fleet management capabilities.
Read more about the top mining equipment manufacturers, sourcing strategies, procurement insights, and pricing strategies in SpendEdge’s upcoming report on the global mining equipment market.