Mining Equipment Industry Procurement Intelligence, Best Practices, Engagement Model 2020 – 2027

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Procurement Outlook

A rise in urban population increases the demand for natural resources is expected to surge the demand for mining, which in turn, fueling the procurement need for mining equipment. Mining is of two types; surface mining and underground mining.

 These two mining types have separate lists of mining equipment from each other.

  • Surface mining: It is the most common mining type for non-fuel minerals. There are three ways to mine on the surface. These methods include quarrying, open-pit mining, and strip mining. The major equipment needed for surface mining is a dragline excavator, excavator shovel, bucket-wheel excavator, wheel tractor scrapers, bulldozer, mining Truck.
  • Underground mining: Underground mining is used for minerals, ore, metals, or other goods located deep underground. Room and pillar mining, retreat mining, and blast mining are the three main underground mining methods. Major equipment used in underground mining is mining drill, underground loader, crane lift, shotcrete machine, and longwall mining.

All mining equipment can be categorized into three major categories based on their applications.

  • Extraction involves drilling, blasting, or digging to remove materials from the mine site.
  • Material handling includes sorting and loading materials to a waste area or the processing site.
  • Material processing involves grinding, separating, crushing, refining, and smelting mined goods at an off-site plant to turn them into finished products

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Demand Outlook

The global mining equipment market is valued at USD 160 billion in 2020 and it is expected to grow at a CAGR of 12% from 2020 to 2027 due to the rising demand for metal mining, coal mining, and mineral mining. The metal mining application segment dominated the global mining equipment industry owing to an increase in the hauling of metal deposits and high demand for precious metals. 

Furthermore, iron and copper mines in South America and Australia are procuring additional equipment deliveries, which is expected to trigger the growth of this application segment. APAC countries like India and Australia are leading the global mining equipment market due to high demand and multiple government initiatives. For instance, the Government of India has approved 100% FDI for the exploration of metal and non-metal ores. Moreover, the Ministry of Steel is aiming to double the steel production capacity to 300 million tons by 2030.
 

Cost Drivers

Each mining equipment is made of different materials based on their application. The cost of raw material is one of the important aspects of mining equipment production cost. However, the cost of procuring raw materials to manufacture mining equipment is somewhat similar across the world. Hence, manufacturers try to increase profit margin by outsourcing the production activities to low-cost countries like India and China. 

Read report  summary  https://www.grandviewresearch.com/pipeline/mining-equipment-industry-procurement-intelligence-report 

Add-on Services

 

  • Should Cost Analysis

Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process

 

  • Rate Benchmarking

Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier

 

  • Salary Benchmarking

Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.

 

  • Supplier Newsletter

A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc.

 

Contact Information:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

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