Global Mining Locomotive Market Analysis by Type, Application, Region and segments forecast till 2033
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.
Market Size in 2022
USD 1,700 Million
Market Forecast in 2033
USD 2,730 Million
CAGR % 2023-2033
Production, Consumption, company share, company heatmap, company production capacity, growth factors and more
North America, Europe, APAC, South America and Middle East and Africa
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
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
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.
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.
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.
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
· Steam Mining
· Electric Mining
· Diesel Mining
· 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
2.2.4. 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
6.1.3. 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)
184.108.40.206. By Type
220.127.116.11. By Application
18.104.22.168. By Country
22.214.171.124.1. The U.S.
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)
126.96.36.199. By Type
188.8.131.52. By Application
184.108.40.206. By Country
220.127.116.11.7. 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)
18.104.22.168. By Type
22.214.171.124. By Application
126.96.36.199. By Country
188.8.131.52.5. South Korea
184.108.40.206.7. 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
10.1.2.3.2. Saudi Arabia
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)
220.127.116.11. By Type
18.104.22.168. By Application
22.214.171.124. By Country
126.96.36.199.4. 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
13.3. 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.
14. Research Methodology
14.1. External Transportations / Databases
14.2. Internal Proprietary Database
14.3. Primary Research
14.4. Secondary Research
14.7. Report FAQs
15. Research Findings & Conclusion
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