North America Mining Remanufacturing Components Market Size and Forecast, Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component, Equipment, and Industry, and Region

Description

List of Tables

The North America mining remanufacturing components market was valued at US$ 915.37 million in 2023 and is projected to reach US$ 1,306.43 million by 2031; it is expected to register a CAGR of 4.5% during 2023-2031.

On the basis of component, the global mining remanufacturing component market is segmented into engine, axle, transmission, hydraulic cylinder, and others. The engine, transmission, and hydraulic cylinder segments are likely to account for significant shares of the mining remanufacturing component market. The state of a mining vehicle is highly influenced by the way it is handled and the environment around it, necessitating continuous replacements. If any equipment breaks down in case of engine, axle, transmission, or hydraulic cylinder failure, the profitability of mining companies is affected. Thus, most of the mining companies prefer to replace the equipment components with remanufactured components owing to their cost-effective and reliability factors.

On the basis of equipment, the global mining remanufacturing component market is segmented into wheel loaders, wheel dozers, crawler dozers, haul trucks, excavators, and others. During the forecast period, the excavators segment is anticipated to hold the largest market share due to their wide usage in mining operations such as exploration, discovery, development, production, and reclamation. Increased demand for minerals and metals in developing nations has increased exploration activities, leading to higher adoption of mining equipment. Further, governments of developing nations are focusing on increasing and expanding their mining activities. As per the data published by the Indian government in March 2023, the government has set an objective of boosting the mining sector's contribution to GDP to 2.5% by 2026-2027. It intends to introduce investor- and industry-friendly standards for the sector. Such initiatives to expand the mining sector will increase the requirement for mining equipment in the coming years, ultimately driving the mining remanufacturing component market.

In addition, key players' efforts in making efficient dozers are another factor driving the market. As per the news published by the company in February 2023, Komatsu re-engineered the D475A-8, the world's largest production dozer, based on considerable customer feedback, with substantial advancements over the previous generation. The dozer has 11% more power in reverse, which opens the door to a wider variety of practical advantages-the greater horsepower in reverse aids in higher ground speeds, producing shorter return cycle times, allowing the dozer to be up to 10% more productive than the previous model. The total cost of ownership has also decreased by over 60,000 hours due to improvements in the durability of the work equipment, mainframe, track frames, equalizer bars, and pivot shafts. Such activities have driven the demand for crawler dozer remanufacturing components in the mining industry.

AB Volvo; Atlas Copco AB; Caterpillar, Inc.; Epiroc AB; J C Bamford Excavators Ltd.; Liebherr Group; Komatsu Ltd; SRC Holding Corporation; Hitachi Construction Machinery Co. Ltd.; and Swanson Industries are among the key players offering mining remanufacturing components in North America. Research and development activities for new technological development and alliances with other companies through mergers and acquisitions, partnerships, and collaborations are a few of the key business strategies of companies operating in the North America mining remanufacturing components market.

Product Code: TIPRE00039267

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:

4. North America Mining Remanufacturing Components Market Landscape

4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
- 4.3.1 List of Mining Remanufacturing Component Suppliers

5. North America Mining Remanufacturing Components Market - Key Market Dynamics

5.1 North America Mining Remanufacturing Components Market - Key Market Dynamics
5.2 Market Drivers
- 5.2.1 Increasing Mining and Mineral Production Across North America:
- 5.2.2 Rising Government Incentives and Funding to Promote Mineral Production:
  - 5.2.2.1 Government Announcements for the Minerals Exploration Activities
5.3 Market Restraints
- 5.3.1 Quality Issues and Technological Barriers:
5.4 Market Opportunities
- 5.4.1 Rising Adoption of Electric and Autonomous Vehicles in Mining Industry:
5.5 Future Trends
- 5.5.1 Additive Manufacturing in Remanufacturing Industry:
5.6 Impact of Drivers and Restraints:

6. North America Mining Remanufacturing Components Market Analysis

6.1 North America Mining Remanufacturing Components Market Revenue and CAGR (%) (US$ Million), 2021-2031
6.2 North America Mining Remanufacturing Components Market Revenue (US$ Million), 2021-2031
6.3 North America Mining Remanufacturing Components Market Forecast and Analysis

7. North America Mining Remanufacturing Components Market Analysis - by Component

7.1 Engine
- 7.1.1 Overview
- 7.1.2 Engine: North America Mining Remanufacturing Components Market - Revenue and Forecast to 2031 (US$ Million)
7.2 Axle
- 7.2.1 Overview
- 7.2.2 Axle: North America Mining Remanufacturing Components Market - Revenue and Forecast to 2031 (US$ Million)
7.3 Transmission
- 7.3.1 Overview
- 7.3.2 Transmission: North America Mining Remanufacturing Components Market - Revenue and Forecast to 2031 (US$ Million)
7.4 Hydraulic Cylinder
- 7.4.1 Overview
- 7.4.2 Hydraulic Cylinder: North America Mining Remanufacturing Components Market - Revenue and Forecast to 2031 (US$ Million)
7.5 Others
- 7.5.1 Overview
- 7.5.2 Others: North America Mining Remanufacturing Components Market - Revenue and Forecast to 2031 (US$ Million)

8. North America Mining Remanufacturing Components Market Analysis - by Equipment

8.1 Excavators
- 8.1.1 Overview
- 8.1.2 Excavators: North America Mining Remanufacturing Components Market - Revenue and Forecast to 2031 (US$ Million)
8.2 Wheel Loader
- 8.2.1 Overview
- 8.2.2 Wheel Loader: North America Mining Remanufacturing Components Market - Revenue and Forecast to 2031 (US$ Million)
8.3 Wheel Doser
- 8.3.1 Overview
- 8.3.2 Wheel Doser: North America Mining Remanufacturing Components Market - Revenue and Forecast to 2031 (US$ Million)
8.4 Crawler Dosers
- 8.4.1 Overview
- 8.4.2 Crawler Dosers: North America Mining Remanufacturing Components Market - Revenue and Forecast to 2031 (US$ Million)
8.5 Haul Trucks
- 8.5.1 Overview
- 8.5.2 Haul Trucks: North America Mining Remanufacturing Components Market - Revenue and Forecast to 2031 (US$ Million)
8.6 Others
- 8.6.1 Overview
- 8.6.2 Others: North America Mining Remanufacturing Components Market - Revenue and Forecast to 2031 (US$ Million)

9. North America Mining Remanufacturing Components Market Analysis - by Industry

9.1 Coal
- 9.1.1 Overview
- 9.1.2 Coal: North America Mining Remanufacturing Components Market - Revenue and Forecast to 2031 (US$ Million)
9.2 Metal
- 9.2.1 Overview
- 9.2.2 Metal: North America Mining Remanufacturing Components Market - Revenue and Forecast to 2031 (US$ Million)
9.3 Others
- 9.3.1 Overview
- 9.3.2 Others: North America Mining Remanufacturing Components Market - Revenue and Forecast to 2031 (US$ Million)

10. North America Mining Remanufacturing Components Market - Country Analysis

10.1 North America
- 10.1.1 North America Mining Remanufacturing Components Market Breakdown by Countries
- 10.1.2 North America Mining Remanufacturing Components Market Revenue and Forecast and Analysis - by Country
  - 10.1.2.1 North America Mining Remanufacturing Components Market Revenue and Forecast and Analysis - by Country
  - 10.1.2.2 United States: North America Mining Remanufacturing Components Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.1.2.2.1 United States: North America Mining Remanufacturing Components Market Breakdown by Component
    - 10.1.2.2.2 United States: North America Mining Remanufacturing Components Market Breakdown by Equipment
    - 10.1.2.2.3 United States: North America Mining Remanufacturing Components Market Breakdown by Industry
  - 10.1.2.3 Canada: North America Mining Remanufacturing Components Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.1.2.3.1 Canada: North America Mining Remanufacturing Components Market Breakdown by Component
    - 10.1.2.3.2 Canada: North America Mining Remanufacturing Components Market Breakdown by Equipment
    - 10.1.2.3.3 Canada: North America Mining Remanufacturing Components Market Breakdown by Industry
  - 10.1.2.4 Mexico: North America Mining Remanufacturing Components Market - Revenue and Forecast to 2031 (US$ Million)
- 10.1.3 Following Chart Shows Mexico's Mining Production and Mining Market Size, 2019-2023

11. Competitive Landscape

11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration

12. Industry Landscape

12.1 Overview
12.2 Market Initiative
12.3 Product Development
12.4 Mergers & Acquisitions

13. Company Profiles

13.1 Atlas Copco AB
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
13.2 J C Bamford Excavators Ltd
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
13.3 Caterpillar Inc
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
13.4 Epiroc AB
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
13.5 Swanson Industries Inc
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
13.6 Komatsu Ltd
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
13.7 Liebherr-International AG
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
13.8 SRC Holdings Corp
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
13.9 AB Volvo
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
13.10 Hitachi Construction Machinery Co Ltd
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments

14. Appendix

14.1 About The Insight Partners