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Mining Equipment Market to Exceed US$ 345 billion in 2031, Expanding at a CAGR of 8.7% between 2021 and 2031 Says, TMR

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Wilmington, Delaware, United States, June 22, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global mining equipment market stood at US$ 138 billion in 2020 and the global market is projected to reach US$ 345 billion in 2031. Global mining equipment industry is anticipated to expand at a CAGR of 8.7% between 2021 and 2031.

The mining equipment market is expected to witness a substantial growth opportunity at the worldwide level due to rapid industrialization and an increase in mining activities. Asia Pacific is anticipated to provide a significant share of the mining equipment market opportunities to regional and global manufacturers.

Symbolic improvements in equipment efficiency, and investments in the sector by Original Equipment Manufacturers (OEMs), initially coupled with the need for sustainable products, are anticipated to positively amplify market growth during the forecast period.

Discover a detailed summary of the report, encompassing market size, forecast, and research methodology. Access the sample report in PDF format @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=811

Market Snapshot:

Report Coverage Details
Market Revenue US$ 138 Bn
Estimated Value US$ 345 Bn
Growth Rate – CAGR 8.7%  
Forecast Period 2021-2031
No. of Pages 172 Pages
Market Segmentation Equipment Type, By End-user
Regions Covered North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Companies Covered Caterpillar Inc., Liebherr Group, Epiroc,
Komatsu Ltd, Hitachi Construction Machinery Co. Ltd, BelAZ, Sandvik AB, Deere & Company,
Xuzhou Construction Machinery Group Co., Ltd.
AB Volvo.

Global Mining Equipment Market: Key Players

  • Caterpillar Inc., Liebherr Group, Epiroc, Komatsu Ltd, Hitachi Construction Machinery Co. Ltd, BelAZ, Sandvik AB, Deere & Company, Xuzhou Construction Machinery Group Co., Ltd., and AB Volvo are some of the leading players operating in the global mining equipment market
  • John Deere’s keynote address, the company revealed two new technologies, ExactShot™, and an electric excavator, that will help Deere’s customers be more productive, profitable, and sustainable.

Owing to the application of binding emission norms and regulations, where mining equipment manufacturers are investing more in the development of fuel-efficient, low-emission, and electrically powered equipment.

The development of high-performance equipment, as a result of the increase in automation, has made the elimination of ores without decreasing the grades comparatively cheaper, in turn, propelling the growth of the mining equipment market.

Key Takeaways of Market Report

  • Global mining equipment market to generate absolute dollar opportunity worth US$ 345 billion until 2031.
  • Global mining equipment market from 2021 to 2031 is 8.7%
  • Global mining equipment market is currently valued at US$ 138 billion in 2020.
  • Global mining equipment market stood at US$ 149.2 billion in 2021.
  • Market value of the global mining equipment market management from 2018 to 2022 is 7.32%
  • North America is said to have a market share of 27.3%
  • Asia Pacific market region is estimated to have a market share of 44.1%

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Global Mining Equipment Market: Growth Drivers

  • Rise in demand for mining equipment from all over the world, and there is increasing production of equipment such as mining drills & breakers, crushers, surface mining tools, screening equipment, mineral processing equipment, etc.
  • Manufacturers have mainly focused on the production of environment-friendly mining tools and highly reliable machinery that certainly does not cause any harm to the environment. Many developing nations are accepting hybrid technology in the production of mining equipment for embracing sustainability.
  • Reduction in accidents and health hazards caused due to various mining activities, safety plays an important role. Utilization of advanced techniques in mining processes, market players are ensuring the safety and security of their workers leading to an increase in demand for metals and minerals from various end-use industries, and safe mining tools and machinery.
  • Growth in the adoption and implementation of artificial intelligence (AI) and machine learning (ML) in mining processes is creating growth opportunities for market players.

Global Mining Equipment Market: Regional Landscape

  • Asia Pacific is expected to dominate the mining equipment market in the upcoming years due to rapid increase in mining activities in the region due to the surge in demand for metal and minerals from various end-use industries.
  • Factors such as boosting the production of mining equipment in the Asia Pacific are responsible for the major market share of the region i.e., rapid urbanization, increase in construction, infrastructure development activities in the region, and lucrative presence of mining equipment manufacturers, thereby holding a share of 44.1%.
  • Market players operating in China and India are anticipated for witnessing potential revenue opportunities due to the rising demand and production of coal, metals, and various minerals.
  • North America is said to hold a lucrative position as equipment effectiveness in underground mining is nearly 27.3%. Transition has been observed from less economical underground mining to more economical open-pit mining, as this factor is anticipated to drive the demand for mining equipment during the forecast period over the last years.
  • Attributing to the implementation of stringent emission norms and regulations, mining equipment manufacturers are investing more in the development of fuel-efficient, low emission and electrically-powered equipment.

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Global Mining Equipment Market: Segmentation

By Equipment Type

  • Mineral Processing Equipment
  • Mining Drills and Breakers
  • Pulverizers
  • Crushers
  • Screening Equipment
  • Surface Mining Equipment
  • Underground Mining Equipment
  • Others

By End-use

  • Coal Mining
  • Metal Mining
  • Mineral Mining

By Regions

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact:

Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Bloghttps://tmrblog.com
Email: [email protected]

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Artificial Intelligence

Elevate Your Virtual Reality Experience with KIWI design RGB Vertical Stand, Now Available on Meta’s Website

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LOS ANGELES, May 11, 2024 /PRNewswire/ — Top-tier VR accessories provider KIWI design has launched its latest product, the RGB Vertical Stand. This Meta-authorized accessory, designed to deepen users’ immersion in the metaverse, is now available on the official Meta website.

“KIWI design’s commitment to pushing the boundaries of virtual reality accessories takes another leap forward with the introduction of our new products,” said Ray,the CEO of KIWI design. “We are always dedicated to bringing innovative upgrades to VR device accessories, with the goal of enriching users’ virtual reality experiences.”
The newly launched RGB Vertical Stand features a user-friendly modular design with push-in assembly, making it easy to set up and use. It is compatible with Meta Quest 3, Quest 2, and Quest Pro, ensuring widespread usability. With a magnetic USB Type-C connector, it provides an effortless way to charge and display your headset. Users can also customize their display with 16 pre-set ambient multicolor RGB light options.
With VR technology constantly evolving, users are seeking more immersive experiences. As a leading manufacturer of VR accessories, KIWI design is committed to enhancing the user experience, through unique product designs. Since its establishment in 2015, KIWI design has acquired over 100 patents and has a diverse product lineup, including head straps, facial interfaces, VR stands, charging accessories, and controller grip covers.
KIWI design has also actively participated in the Made for Meta program, which is provided by Meta to strengthen its partnerships with leading brands to deliver accessories that enhance Meta products with more choice and a richer experience for everyone. KIWI design’s participation in this program validates its high-quality design standards.
The RGB Vertical Stand for Meta Quest 3, Quest 2, and Quest Pro and another specially designed authorized charging dock for the Meta  Oculus Quest 2 are now available for purchase on both KIWI design’s website and Amazon. For more information about our brand and products, please visit our website and follow KIWI design on Facebook, Instagram, X, YouTube and TikTok.
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https://www.facebook.com/KIWIdesignOfficial
https://www.instagram.com/kiwidesignins/

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WIO Taps Gracenote to Revolutionize Television Broadcast Reporting

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LOS ANGELES, May 11, 2024 /PRNewswire/ — WIO LLC, parent company of the global TV broadcast airings platform, WIOpro™, has announced a new strategic agreement with Gracenote, the global content data business unit of Nielsen, to address the longstanding challenge of accurately tracking and collecting music royalties generated by broadcast television and digital programming, With this agreement, WIO will integrate Gracenote TV program metadata and show airings into its WIOpro™ (“When’s It On – Professional”) platform enabling performance rights organizations, copyright management organizations and other entities to better monitor broadcast schedules and identify when royalties have been earned.

By integrating Gracenote historical program data into WIOpro’s new LookBack™ feature, WIO is enhancing its reporting capabilities and empowering Collection Societies, Rights Management Companies and the royalty-earning community to more easily monitor and export broadcast airings and better understand collections opportunities.
“At WIO, we are committed to empowering collection societies and copyright holders around the world with our platform tools and unprecedented access to the best and most accurate television broadcast and streaming data available,” said Shawn Pierce, Co-Founder and CEO of WIO LLC. “We have enjoyed an incredible relationship with Gracenote for 10 years. With the solidification of this agreement, we are able to deliver an unrivaled dataset to the royalty and residual community in a way that has not been offered before.” said Adam Shafron, Co-Founder and CTO of WIO LLC.
“WIO’s platform developed to solve the difficult matter of royalty tracking only becomes more powerful based on the integration of accurate, timely and comprehensive Gracenote metadata,” said Scott Monahan, Director, Strategic Partnerships, Gracenote. “We look forward to the combination of WIOpro’s technology and Gracenote’s program metadata delivering on the promise of transforming music royalty collection so that rights holders can be fairly compensated for use of their work.”
WIO and Gracenote will be at the MusicBiz 2024 conference in Nashville, TN May 13 – 16. Contact Dave Pelman, COO of WIO LLC at [email protected] for media queries or to book an appointment for a product demonstration.
About WIO:WIO is a technology company dedicated to providing broadcast television and digital programming data tailored specifically for the royalty and residual collection industry. Through its platform WIOpro (wiopro.com), users obtain access to real-time broadcast insights, reporting and curated data delivery.
About Gracenote:Gracenote is the content data business unit of Nielsen providing entertainment metadata, connected IDs and related offerings to the world’s leading creators, distributors and platforms. Gracenote enables advanced content navigation and discovery capabilities helping individuals easily connect to the TV shows, movies, music, podcasts and sports they love while delivering powerful content analytics making complex business decisions simpler.
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IDTechEx Explores Printed Electronics in Electrified and Autonomous Mobility

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BOSTON, May 10, 2024 /PRNewswire/ — Electrification, autonomy, and vehicle ownership saturation are causing a technological revolution in the automotive sector. These automotive meta-trends are driving drastic changes in electronic component requirements and present a high-volume opportunity for printed electronics to capitalize on.

Historically, printed electronics technologies have nurtured a close relationship with the automotive sector, with printed force sensors pioneering passenger safety through seat occupancy and seatbelt detection. As such, the automotive sector continues to represent the lion’s share of the global printed and flexible sensor market, which IDTechEx’s report on the topic evaluates as worth US$421M in 2024. However, if the automotive sector is to continue to be a reliable revenue stream, printed electronics technology providers must adapt to address the emerging technical challenges facing future mobility.
Augmenting autonomous vehicles with printed electronics
As vehicle autonomy levels advance, the increasing number and distribution of spatial mapping sensors required will need continuous performance improvements to ensure passenger safety. Emerging printed electronics technologies can augment these sensors, extending detection bandwidth and maximizing reliability during operation.
Transparent conductive films (TCFs) are being developed to heat and defog LiDAR sensor panels, ensuring the function is unperturbed by external environmental conditions. Properties such as high transparency and low haze are important for defogging. These properties can be easily tuned using the wide variety of material options available for TCFs, including carbon nanotubes and silver nanowires.
IDTechEx identifies printed heating as a leading application of transparent conductive films. This is attributed to diminishing growth prospects in capacitive touch sensing applications. Innovations in thin film coating techniques have enabled indium tin oxide (ITO) to dominate touch sensing applications, all but displacing TCFs completely.
Looking towards the future, printed electronics technologies could play a more active role in advanced autonomous driving. Emerging semiconductive materials, such as quantum dots, printed directly onto conventional silicon image sensor arrays can extend detection range and sensitivity deeper into the infrared region. Augmenting existing image sensor technology with enhanced spectral range could facilitate the competition of hybrid silicon sensors with established InGaAs detectors.
Printed sensors promise granularized battery health monitoring
Vehicle electrification is driving the sustained development and evolution of electronic management systems, particularly in the battery and electric drivetrain. A strong market pull exists for technologies that increase vehicle efficiency, range, and lifetime while reducing recharge times.
Printed pressure and temperature sensors measure battery cell swelling and thermal profiles, providing granularized physical data that can be used to optimize battery deployment and recharging. Moreover, hybrid printed sensors that combine integrated printed heating elements promise a solution to actively address battery temperature. IDTechEx estimates that printed sensor-enabled battery deployment and charging optimizations could be worth up to US$3000 in savings per vehicle.
There remains uncertainty about whether electrification trends will correspond to increased demand for physical sensors in electric vehicle batteries, owing to the utility of existing electronic readouts for managing deployment. Virtual sensors also pose a threat, where AI-enabled software models interpret data to predict and emulate physical sensor functions without the need for discreet components. However, emerging regulations regarding safety and sensor redundancy will likely favor measurable metrics and see automotive makers continue to adopt physical sensors. IDTechEx predicts that virtual sensors are unlikely to displace their physical counterparts – so long as low-cost sensors remain widely available.
Embedding printed electronics in the car of the future
IDTechEx predicts that global car sales will saturate over the next decade, with automakers increasingly looking for premium features and technical innovations to differentiate themselves from the competition. In-cabin technologies will be highly desirable – as the location where passengers reside and interact with the vehicle the most.
Lighting elements are emerging as a prominent differentiator, described as “the new chrome” by Volkswagen’s chief designer. The use of in-mold structural electronics (IMSE) enables the integration of embedded lighting elements using existing manufacturing processes. 3D electronics technologies are intrinsically attractive for automotive integration, as functional layers are conformable and lightweight while easily embedded within existing aesthetic elements.
Despite strong tailwinds, the adoption of in-mold electronics within automotive interiors has been sluggish. This is attributed to the challenges of meeting automotive qualification requirements, as well as stiff competition with less sophisticated alternatives such as applying functional films to thermoformed parts. Nevertheless, momentum is building, with technology providers like Tactotek partnering with Mercedes-Benz and Stallantis to progress the automotive validation of IMSE to TRL5.
Outlook for printed electronics in automotive applications
Just as printed force sensors heralded early passenger safety systems, printed electronics technology is poised to underpin next-generation innovations for the car of the future. But this time, the competition will be stiff. Critical cost requirements must be met, while desirable new functionality must address existing challenges faced by manufacturers. Printed electronics can play a role in supporting emerging electrified and autonomous mobility, such as augmenting LiDAR sensors or optimizing electric battery deployment. Demand for technologies that enhance passenger experience and vehicle aesthetics will continue to grow, and printed electronics can supply low-power, lightweight lighting solutions for these.
Sustained engagement from tier suppliers and manufacturers continues to make the automotive sector key to printed sensor market growth opportunities – a total market IDTechEx predicts will reach US$960M by 2034. Strong partnerships between material providers and printed electronics technology providers are complementary to those of the highly vertically integrated automotive value chains between tier suppliers and OEMs. Leveraging printing techniques to provide solutions that slot into existing manufacturing processes and designs will be crucial. In the medium term, the printed electronics technologies most likely to realize revenue potential are those that can adapt to service emerging challenges already known to the automotive industry.
For more information on IDTechEx’s research on this topic, please see their report, “Printed and Flexible Sensors 2024-2034: Technologies, Players, Markets”. Downloadable sample pages are available for this report.
For the full portfolio of printed and flexible electronics market research from IDTechEx, please visit www.IDTechEx.com/Research/PE.
About IDTechEx:
IDTechEx provides trusted independent research on emerging technologies and their markets. Since 1999, we have been helping our clients to understand new technologies, their supply chains, market requirements, opportunities and forecasts. For more information, contact [email protected] or visit www.IDTechEx.com. 
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