Mining locomotive is the engine that functions on either electricity, gasoline or compressed air. Such type of a train is specifically designed for the purpose of underground usage, mainly to haul heavy objects in mining work.
A mine railway also alluded as pit railway or mine road, is constructed to carry supplies, materials and workers in and out of the mine. The materials include coal, ore and all mining waste such as spoils, slack, culm, tilling’s etc.
Earlier, the heavy and bulky materials were being hauled manually in and out of the mine; however, with the invention of steam engine, a mix of heavy and bulky materials hauling into and out of mines became easy. This gave rise to several generations of rails. These wagons are propelled by diesel or compressed air or battery.
Market Description & Overview
The Global Mining Locomotive Market is expected to witness a considerable expansion with a CAGR of 7% during the forecasted period of 2021 to 2030. According to market specialists, the Global Mining Locomotive Market is expected to witness a significant growth by 2030.
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The ability of mining locomotive to haul heavy materials such as tiling’s, culm, and metal ores is adding momentum to the growth of this market. Additionally, rising adoption of electric locomotive with regards to its eco-friendly nature for mining transport is fuelling the market. Furthermore, rise in mining activities, fast pacing industrialization and rising investment by governments for the research and development are considered to be the driving factors for the market. Moreover, widespread economies and developmental plans, stirring demand for coal, and growing focus of industrialists to develop ecological and efficient locomotives are driving the market.
Besides, coal is an imminent source of energy which is highly in demand for generating electricity. To comply with the emission regulations coupled with aid of advanced technology, manufacturers now are into process of production of clean coal technologies. This in turn is considered to be a lucrative source for the market.
Market Segmentation
The Global Mining Locomotive Market is segmented into Type and Application
Type
The market is further segmented on Type as
- Steam Mining
- Electric Mining
- Diesel Mining
The electric mining segment is expected to display notable rise during the forecast timeline.
Application
The market is further segmented on Application as
- Underground mining
- Open-cast mining
The under-ground mining segment is predicted to garner significant returns in the coming years with a decent CAGR.
Regional Analysis
Based on the regional analysis the market covers regions such as North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Where, North America is marked as the dominant region and stood at significant level. Several factors are responsible for the growth such as demand for continuous power supply, growing mining activities, widespread industrialization etc.
Market Key players
Hologic, Inc., Abbott, Becton, Dickinson and Company, F. Hoffmann-La Roche Ltd., Merck KGaA, Thermo Fisher Scientific, Inc., Danaher, Sysmex Corporation, Trivitron Healthcare, Koninklijke Philips N.V. are some of the major key players of the market.
The key players of a market comprise of investors and intermediaries and are marked to be pillars of the market. The market is highly competitive and has witnessed growing competition between vendors.
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