Increasing demand for underground mining of coal, metal, and minerals is expected to drive the mining drills & breakers market over the forecast period. Evolution of effective mining solutions based on robust technology is also expected to boost market growth. Rising demand for technically advanced solutions, commodities, and increasing consumption of fertilizer minerals is estimated to be a key market driver over the forecast period. In addition, surging demand from developing countries is also expected to impel the mining drills & breakers market demand. However, differences in import duties, socio-economic implications pertaining to mining, high cost of preventive maintenance & tariff restrictions, commodity price volatility, and growing environmental & health concerns may pose to be a challenge to market growth. Renting or leasing of equipment activity is expected to offer opportunities for the mining drills & breakers market over the next few years.
Hydraulic driller acting system enables the reduction of maintenance costs. Crawler type drills provide high level of drilling, whereas hole drills assist in drilling hole with higher diameter. The other products are primarily used for breaking and drilling rocks. Mining drills & breakers are used in an array of applications, including mineral mining, coal mining, and metal mining. These equipment are employed in settings, wherein breaking through the ground and sub-surface materials is of paramount importance.
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The Asia Pacific mining drills & breakers industry is expected to witness high growth over the forecast period owing to the increasing demand for minerals, metals, and coal; as well as the rise in sale of mine products and machinery. Manufacturing and energy industries are the key factors driving the regional mining drills & breakers industry growth. Furthermore, growing demand for natural resources is also expected to spur the regional market demand over the forecast period.
North America and Europe mining drills & breakers market is expected to witness moderate-growth owing to a decline in the mining industry. This decline may be attributed to the unavailability of sufficient mining ores in these regions.. The mining drills & breakers market is expected to witness considerable growth in Brazil and Middle East owing to increasing demand of mining products..
Komatsu Limited, Caterpillar Inc, Sandvik AB, Hitachi Construction Machinery, and Atlas Copco AB are the key players in the mining drills & breakers market. A few prominent China-based manufacturers include Northern Heavy Industries Group, Zhengzhou Coal Mining Machinery Group, China National Coal Mining Equipment, and China Coal Technology & Engineering Group.
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