Global Mining Locomotive Market Analysis by Type, Application, Region and segments forecast till 2033
Market Overview
The global mining locomotive was valued at around USD 1,700 million in 2022, and is expected to reach USD 2,730 million by 2033 growing at a compound annual growth rate (CAGR) of around 3.9% from 2023 to 2033.
Report Scope
Report Attributes | Description |
Market Size in 2022 | USD 1,700 Million |
Market Forecast in 2033 | USD 2,730 Million |
CAGR % 2023-2033 | 3.9% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Production, Consumption, company share, company heatmap, company production capacity, growth factors and more |
Segments Covered | Type, Application |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | CSR Corporation Brookville, Trident, Mining Equipment Ltd., Bombardier Transportation, Irwin Car and Equipment, Alstom SA, AEG Power Solutions, Siemens AG, Hitachi Ltd., and Others. |
Mining locomotive refers to the heavy haulage engine used for underground operations encompassing the transportation of ore, personnel, coal, and other materials to facilitate mining activities. These locomotive-hauled mine cars are propelled by diesel, compressed air, battery, trolley, or combinations such as trolley cable reel or battery-trolley. The growing focus on the evolution of multi-purpose mining locomotives is primarily augmenting the outlook of this market vertical.
Furthermore, the ability of these engines to transport heavy burdens including spoils waste, tiling, culm, and metal ores, among others is adding momentum to the progression of this business sphere. Alongside this, the rising adoption of electric locomotives owing to their bio-friendly nature is positively swaying the market outlook.
Also, the rise in mining activities, rapid industrialization along with increasing research & development investments in the field are stimulating the overall industry dynamics. Besides, widespread economic developments, elevating demand for coal, and the growing focus of manufacturers to develop sustainable and efficient locomotives are propelling the growth of this business vertical. On the contrary, high costs pertaining to the installation and maintenance of these locomotives, rigid emission regulations, and the surging prices of petroleum derivatives are hindering the remuneration scope of the market.
With the rapid surge in mining activities across the globe, there has been an escalating demand for efficient locomotives. But, rising concerns about the emission rates of fuel-powered locomotives and stringent regulations regarding the same have created a high demand for sustainable mining engines. This in turn has increased the adoption of electric power locomotives owing to their eco-friendly and energy-efficient nature. These factors are driving the progression of the overall market.
Coal is regarded as one of the pivotal sources of energy which in turn is elevating its demand across the globe. With growing requirements for continuous power supply across emerging nations, coal is gaining massive traction across the power generation sector. To comply with the emission regulations, manufacturers across the globe have increased their efforts toward the development of clean coal technologies. This is turn is creating lucrative opportunities for the marketplace to prosper. Global mining locomotive market
Type Insights
The Electric Mining segment is expected to amass notable gains over the analysis period and is expected to grow at a CAGR of 7.2% owing strict government regulations on emissions, the need for better energy efficiency, and the growing demand for metals and minerals.
Application Insights
The Underground Mining segment is predicted to garner significant returns of around 60% over the forecast period. The underground mining locomotive market was dominated by the coal mining industry, which accounted for the largest share in terms of application. Asia Pacific region was the largest market for underground mining locomotives, followed by North America and Europe.
Regional Insights
The major regions constituting the geographical terrain of this business sphere are North America, the Middle East & Africa, Europe, Asia Pacific, and Latin America. Among these, North America is projected to capture a high revenue share ascribed to the rising demand for continuous power supply, increase in mining activities, widespread industrialization, and presence of noteworthy market players. Meanwhile, North America is anticipated to showcase lucrative growth trends over the stipulated timeline owing to the elevating demand for sustainable mining equipment to comply with rigid environmental regulations.
Competitive Analysis
The prominent companies characterizing the competitive gamut of this industry are CSR Corporation Brookville, Trident, Mining Equipment Ltd., Bombardier Transportation, Irwin Car and Equipment, Alstom SA, AEG Power Solutions, Siemens AG, Hitachi Ltd., and Others. Some of the recent market developments include:
· In 2021, South African mining company Sibanye-Stillwater signed an agreement with rail equipment supplier Galison Group to develop a new underground rail system.
· In 2020, the UAE government signed several strategic partnerships with mining companies from around the world to develop the country's mining sector. These partnerships could lead to increased investment in the industry, potentially boosting the locomotive market.
Global Mining Locomotive Market- Segmental Analysis
By Type:
· Steam Mining
· Electric Mining
· Diesel Mining
By Application:
· Underground Mining
· Open-Cast Mining
Why to buy this Report?
The report provides quantitative and qualitative aspect for Global Mining Locomotive Market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in Global Mining Locomotive Market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
• Business Model
• Production Capacity, Revenue, Sales, Gross Margin
• Key Business Strategy
• SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the Card Type in taking a key decision within the business:
• Company Share Analysis from 2020-2022
• Company Analysis by Revenue and Sales
• Company Production Capacity, Gross Margin
• Company Share Analysis by Card Type/Card Type
• Company Share Analysis by Product/Specification
1.
Global Mining Locomotive Market
Introduction and Market Overview
1.1. Objectives
of the Study
1.2. Mining Locomotive Market Definition & Description
1.3. Global
Mining Locomotive Market Scope and Market Estimation
1.3.1. Global
Mining Locomotive Market Size, Revenue (US$ Mn), Market CAGR (%), Market
forecast (2023-2033)
1.3.2. Global
Mining Locomotive Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019-2033
1.4. Market
Segmentation
1.4.1. Type
of Global Mining Locomotive Market
1.4.2. Application
of Global Mining Locomotive Market
1.4.3. Region
of Global Mining Locomotive Market
2.
Executive
Summary
2.1. Global
Mining Locomotive Market
Industry Trends under COVID-19 Outbreak
2.1.1. Global
COVID-19 Status Overview
2.1.2. Influence
of COVID-19 Outbreak on Global Mining
Locomotive Market Industry Development
2.2. Market
Dynamics
2.2.1. Drivers
2.2.2. Limitations
2.2.3. Opportunities
2.2.4. Impact
Analysis of Drivers and Restraints
2.3. Pricing
Trends Analysis & Average Selling Prices (ASPs)
2.4. Key
Mergers & Acquisitions, Expansions, JVs, Funding / VCs, etc.
2.5. Porter’s
Five Forces Analysis
2.5.1. Bargaining
Power of Suppliers
2.5.2. Bargaining
Power of Buyers
2.5.3. Threat
of Substitutes
2.5.4. Threat
of New Entrants
2.5.5. Competitive
Rivalry
2.6. Value
Chain / Ecosystem Analysis
2.7. PEST
Analysis
2.8. Russia-Ukraine
War Impacts Analysis
2.9. Economic
Downturn Analysis
2.10. Market
Investment Opportunity Analysis (Top Investment Pockets), By Segments & By
Region
3.
Global
Mining Locomotive Market Estimates &
Historical Trend Analysis (2020 - 2022)
4.
Global
Mining Locomotive Market Estimates &
Forecast Trend Analysis, By Type
4.1. Global
Mining Locomotive Market Revenue (US$ Mn) Estimates and Forecasts, By Type, 2023
to 2033
4.1.1. Steam
Mining
4.1.2. Electric
Mining
4.1.3. Diesel
Mining
5.
Global
Mining Locomotive Market Estimates &
Forecast Trend Analysis, By Application
5.1. Global
Mining Locomotive Market Revenue (US$ Mn) Estimates and Forecasts, By Application,
2023 to 2033
5.1.1. Underground
Mining
5.1.2. Open-Cast
Mining
6.
Global
Mining Locomotive Market Estimates &
Forecast Trend Analysis, By Region
6.1. Global
Mining Locomotive Market Revenue (US$ Mn) Estimates and Forecasts, By Region, 2023
to 2033
6.1.1. North
America
6.1.2. Europe
6.1.3. Asia
Pacific
6.1.4. Middle
East & Africa
6.1.5. South
America
7.
North
America Mining Locomotive Market:
Estimates & Forecast Trend Analysis
7.1. North
America Mining Locomotive Market Assessments & Key Findings
7.1.1. North
America Mining Locomotive Market Introduction
7.1.2. North America
Mining Locomotive Market Size Estimates and Forecast (US$ Million) (2023 to
2033)
7.1.2.1. By Type
7.1.2.2. By Application
7.1.2.3. By
Country
7.1.2.3.1. The
U.S.
7.1.2.3.2. Canada
7.1.2.3.3. Mexico
8.
Europe
Mining Locomotive Market: Estimates
& Forecast Trend Analysis
8.1. Europe
Mining Locomotive Market Assessments & Key Findings
8.1.1. Europe
Mining Locomotive Market Introduction
8.1.2. Europe
Mining Locomotive Market Size Estimates and Forecast (US$ Million) (2023 to
2033)
8.1.2.1. By Type
8.1.2.2. By Application
8.1.2.3. By
Country
8.1.2.3.1. Germany
8.1.2.3.2. U.K.
8.1.2.3.3. France
8.1.2.3.4. Italy
8.1.2.3.5. Spain
8.1.2.3.6. Russia
8.1.2.3.7. Rest
of Europe
9.
Asia
Pacific Mining Locomotive Market:
Estimates & Forecast Trend Analysis
9.1. Asia
Pacific Market Assessments & Key Findings
9.1.1. Asia
Pacific Mining Locomotive Market Introduction
9.1.2. Asia
Pacific Mining Locomotive Market Size Estimates and Forecast (US$ Million) (2023
to 2033)
9.1.2.1.
By Type
9.1.2.2. By Application
9.1.2.3. By
Country
9.1.2.3.1. China
9.1.2.3.2. Japan
9.1.2.3.3. India
9.1.2.3.4. Australia
9.1.2.3.5. South
Korea
9.1.2.3.6. ASEAN
9.1.2.3.7. Rest
of Asia Pacific
10. Middle East & Africa Mining Locomotive Market: Estimates &
Forecast Trend Analysis
10.1. Middle
East & Africa Market Assessments & Key Findings
10.1.1. Middle
East & Africa Mining Locomotive
Market Introduction
10.1.2. Middle
East & Africa Mining Locomotive Market Size Estimates and
Forecast (US$ Million) (2023 to 2033)
10.1.2.1. By Type
10.1.2.2. By Application
10.1.2.3. By
Country
10.1.2.3.1. U.A.E.
10.1.2.3.2. Saudi
Arabia
10.1.2.3.3. Egypt
10.1.2.3.4. South
Africa
10.1.2.3.5. Rest
of Middle East & Africa
11. South America Mining Locomotive Market: Estimates &
Forecast Trend Analysis
11.1. South
America Market Assessments & Key Findings
11.1.1. South
America Mining Locomotive Market Introduction
11.1.2. South
America Mining Locomotive Market Size Estimates and Forecast (US$ Million) (2023
to 2033)
11.1.2.1. By Type
11.1.2.2. By Application
11.1.2.3. By
Country
11.1.2.3.1. Brazil
11.1.2.3.2. Argentina
11.1.2.3.3. Colombia
11.1.2.3.4. Rest
of South America
12. Competition Landscape
12.1. Global
Mining Locomotive Market Competition Matrix & Benchmarking, by Leading
Players / Innovators / Emerging Players / New Entrants
12.2. Global
Mining Locomotive Market Concentration & Company Market Shares (%)
Analysis, 2022
13. Company Profiles
13.1. CSR Corporation Brookville
13.1.1. Company
Overview & Key Stats
13.1.2. Financial
Performance & KPIs
13.1.3. Product
Portfolio
13.1.4. Business
Strategy & Recent Developments
* Similar details would be provided for all the
players mentioned below
13.2. Trident
13.3. Mining Equipment Ltd.
13.4. Bombardier Transportation
13.5. Irwin Car and Equipment
13.6. Alstom SA
13.7. AEG Power Solutions
13.8. Siemens AG
13.9. Hitachi Ltd.
13.10. Others**
14. Research Methodology
14.1. External
Transportations / Databases
14.2. Internal
Proprietary Database
14.3. Primary
Research
14.4. Secondary
Research
14.5. Assumptions
14.6. Limitations
14.7. Report
FAQs
15. Research Findings & Conclusion
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One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
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Conclusion
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