Electric Shovel Market: Introduction
An electric shovel is a machine which is equipped with a bucket (digger) and used to perform different operations such as mineral extraction, loading, and digging of earth, fragmented rocks, etc. Basically, the electric shovel is a type of cable/rope excavator, where the digging arm is powered and controlled by steel ropes and winches, instead of hydraulics like in more common hydraulic excavators. Even though the main function of electric shovel is to remove and excavate the overburden in mining operations, it can be used in the loading of different extracted minerals like coal. In addition, the electric shovel is used to perform various types of jobs such as digging cuts in road works, digging in gravel banks, and clay pits which further drives the growth for electric shovel market. Apart from this, continuous innovation in terms of features and designs by leading manufacturers operating in electric shovel market is expected to increase the demand for electric shovel in upcoming years.
Electric Shovel Market: Dynamics
The global electric shovel market is mainly driven due to the increasing mining activities across the globe. The growth of the mining industry is encouraged due to the continuing recovery in commodity prices, boosted by overall economic growth which in turn has also fueled the demand for electric shovel in the mining sector. Across the globe, over the past few years, the count of active mines has also increased, and this increased count of active mines is anticipated to raise the demand for electric shovel in the mining sector, during the forecast period. Besides, the growing demand from mineral-based commodities across the globe is expected to provide a further boost for the growth of electric shovel market. The electric shovel abilities such as digging the tough materials, removing big sized boulders plays an important role to drive the growth of electric shovel market. On the other hand, the emerging trend of equipment rentals business across the globe further fuels the growth of electric shovel market over the forecast period.
Electric Shovel Market: Segmentation
The global electric shovel market is segmented on the basis of product, load capacity and applications.
- Based on product, the global electric shovel market is segmented as:
- Wheeled Electric Shovel
- Tracked Electric Shovel
- Based on load capacity, the global electric rope shovel market is segmented as:
- Less than 20MT
- 21MT – 50MT
- 51MT – 100MT
- More than 100MT
- Based on application, the global electric shovel market is segmented as:
- Coal Mining
- Metal Mining
Electric Shovel Market: Regional Lookout
The global electric shovel market is segmented into seven regions and are as follows: North America (USA and Canada), Latin America (Mexico, Brazil and Rest of Latin America), Europe (Germany, UK, Spain, France, and Russia), East Asia (Japan, China and South Korea), South Asia (India, Indonesia, Thailand, Malaysia, and Rest of South Asia), Middle East and Africa (GCC, South and North Africa), and Oceania (Australia and New Zealand). Among all the regions across the globe, owing to the growing mining activities in countries like China, the Asian electric shovel market is projected to capture a significant market share over the forecast period. Besides, the ever-increasing construction activities in Asian countries is further expected to boost the demand for electric shovel in upcoming years. Followed to the Asian region, the region Europe and Americas has significant market share in the global electric shovel market and expected to continue the same during the forecast period. On the other hand, the regions like MEA and Oceania are expected to show comparatively sluggish growth for electric shovel market during the forecast period.
Electric Shovel Market: Prominent Players
Prominent players in the electric shovel market are as follows:
- Komatsu Mining Corp.
- L&H Industrial
- Taiyuan Heavy Industry Co., Ltd.
- SRB Group
- P&H Mining
- Hitachi Construction Equipment
- Liebherr Group
The research report presents a comprehensive assessment of the Electric Shovel Market, and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Electric Shovel Market report provides analysis and information according to market segments such as product type and end user.
The Electric Shovel Market Report Covers Exhaustive Analysis On:
- Market Segments in the Electric Shovel Market
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved
- Technology in the Electric Shovel Market
- Value Chain of the Electric Shovel Market
Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Rest of Latin America)
- Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe)
- East Asia (Japan, China, South Korea)
- South Asia (India, Thailand, Malaysia, Indonesia, Philippines, Rest of South Asia)
- Oceania (Australia, New Zealand)
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
The Electric Shovel market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The Electric Shovel market report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segment. The Electric Shovel market report also maps the qualitative impact of various market factors on market segments and geographies.
- A Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Fact.MR offers custom research services that help clients to get specific research solutions