0 items USD 0.00Top Mining Equipment Manufacturers in World and Market Insight
Clouds of uncertainties looming over the mining equipment market as leading companies are withdrawing 2020 financial guidance with an intent not to issuing revised guidance due to the economic uncertainties resulting from the COVID-19 pandemic. Market leader, Caterpillar Inc, is already taking steps to cut costs and trim production in the face of deteriorating commodity markets that stand to squeeze demand for the company’s signature yellow machine.
Overall, the mining sector is heavily dependent on global supply chains for machinery, equipment, and components inputs, as well as its outputs of raw materials to its customers around the world.
1 . Top Mining Equipment Manufacturers in World
- Caterpillar Inc.
- Komatsu Ltd.
- The Liebherr Group
- Hitachi, Ltd.
- Terex Corporation
- United Heavy Machinery/Uralmash-Izhora Group
- Taiyuan Heavy Industry Co., Ltd (TYHI)
- Sany Heavy Industry Co., Ltd.
2 . Mining Equipment Market Scenario
The global Mining Equipment market size is expected to gain market growth in the forecast period of 2018 to 2024, with a CAGR of 5.46% in the forecast period of 2018 to 2024 and will expected to reach USD 112.3 billion by 2024, from USD 76.8 billion in 2018.
The global Underground Mining Equipment market size is expected to gain market growth in the forecast period of 2020 to 2025, with a CAGR of 6.5% in the forecast period of 2020 to 2025 and will expected to reach USD 26270 million by 2025, from USD 20420 million in 2019.
* COVID Impact has not been included in the forecast numbers
Get insights on historical data and future market sizing. Regional/country-level market data along with the competitive scenario of mining equipment industry.
3 . Performance of Leading Players in the Mining Equipment Industry
1. Caterpillar Inc.
Caterpillar (Cat®) construction equipment are known for delivering reliable performance in trying conditions. The next-generation Cat 323D3 and 320D3 excavators, Cat 120 motor grader, 424B2 & 426F2 backhoe loaders are few of their latest machines.
In April 2020, Caterpillar Inc. had announced first-quarter 2020 sales and revenues of $10.6 billion, which reported a 21% decrease in revenue compared with $13.5 billion in the first quarter of 2019. The decline was due to lower sales volume driven by lower end-user demand and the impact of changes in dealer inventories. Dealers increased machine and engine inventories about $100 million during the first quarter of 2020, compared with about $1.3 billion during the first quarter of 2019.
Caterpillar’s financial results for the remainder of 2020 will be impacted by continued global economic uncertainty due to the COVID-19 pandemic. As such, Caterpillar withdrew its earnings guidance on March 26 and is not providing a financial outlook for 2020 at this time.
2. Komatsu Ltd.
Komatsu construction equipment endure some of the toughest working conditions due to unique casting designs and world-class manufacturing processes. With numerous working modes, Komatsu construction equipment produce fast cycle times and excellent operating capabilities.
For the fiscal year under review (April 1, 2019 – March 31, 2020), the first year of the mid-term consolidated net sales totaled JPY 2,444.8 billion, down 10.3% from the previous fiscal year.
The Liebherr Group reported record sales in 2019, with revenues of € 11,750 million. This represents an increase of € 1,199 million, or 11.4 %, compared with the previous year.
Growth was evenly distributed among the Construction Machines and Mining divisions, along with the other product areas. The Group’s sales in construction and mining machinery reached € 7,640 million, an € 807 million (11.8 %) increase compared to the year before. This included the Earthmoving, Mobile Cranes, Tower Cranes, Concrete Technology and Mining. For the other product areas, including the Maritime Cranes, Aerospace and Transportation Systems, Machine Tools and Automation Systems, Household Appliances as well as the Components and Hotels divisions, combined sales reached € 4,110 million, a € 392 million (10.5 %) increase over the year before.
4. Hitachi Ltd.
Hitachi construction equipment strike a balance between long-lasting bodies that can be operated in confined spaces or harsh conditions, which required level of workability, and are demonstrating their capabilities work sites.
For Fiscal 2019 the Hitachi’s consolidated revenues decreased 8% year over year, to 8767.2 billion yen. In addition to the decrease in the revenue due to the COVID-19 impact in all the segments the decreasing male in it at his metal segment where sales were affected by a decrease in automobile and semiconductor and factory automation.
5. Terex Corporation
Terex Corporation has announced its first-quarter 2020 result in April. The company reported a loss from continuing operations of USD 24.7 million, on net sales of USD 833.6 million. In the first quarter of 2019, the reported income from continuing operations was USD 57.2 million, on net sales of USD 1.1 billion.
Production was quickly reduced in Terex Corporation's global facilities due to customer demand and local government mandates. The Company withdrew its 2020 financial guidance on March 25, 2020, and will not issue revised guidance due to current market uncertainties.
6. United Heavy Machinery/Uralmash-Izhora Group
OMZ Group, United Heavy Machinery Joint Stock Company (Uralmash-Izhora Group) is one of the leading heavy engineering companies, specializing in engineering, production, sales and servicing of equipment for nuclear, petrochemical, oil and gas, and mining industries. OMZ Group is Russia's largest manufacturer of metallurgical forgings
7. Taiyuan Heavy Industry Co., Ltd (TYHI)
TAIYUAN HEAVY INDUSTRY CO.,LTD. is a Chinese company, mainly engaged in the manufacture and sales of heavy-duty and mining equipment. The Company distributes a wide range of products within the domestic market and to overseas markets.
Company's products widely used in the field of metallurgy, mining, energy, transportation, offshore, aerospace, chemical, railway, shipbuilding, environmental protection, etc. TYHI have already supplied more than 2000 types of nearly 30000 sets of equipment to national key projects.
8. Sany Heavy Industry Co. Ltd.
SANY Heavy Industry released its 2019 annual report. Last year, SANY's total sales revenue reached USD 10.691 billion with 35.55% year-on-year growth. Total assets increased to USD 12.793 billion and net assets attributable to shareholders of the public company were USD 6.277 billion. According to the report, SANY achieved significant improvement in operating efficiency and per capita output, profitability and global market share, and the control of operating risks.
Last year, SANY achieved USD 2.002 billion international sales revenue, up 3.96% year on year, with rapid growth in Indonesia, USA, Europe, Russia, and Latin America.
Related Industry Articles
1. Top Earthmoving Equipment Manufacturers in World and Market Insight
2. Top Construction Equipment Manufacturers in World and Market Insight
3. Top Heavy Equipment Manufacturers in World and Market Insight
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