By GlobalData Energy
The global market for surface mining trucks is expected to improve through to 2020, supported by increased production at existing mines and over 270 new surface mines scheduled to commence operations globally between 2018 and 2020. Overall, the total population of mining trucks in operation is expected to increase by over 8,000 from 105,000 at the end of 2017 to over 113,000 by the end of 2020.
Most of this growth will be driven by the mining companies operating across the Asia-Pacific region, which is expected to increase its truck population by 2,200 surface mining trucks by 2020, equivalent to 24% of the total global increase between 2018 and 2020. Key markets witnessing growth are Indonesia, China and India.
Overall, the Asia-Pacific region currently accounts for 23.5% of total surface mining trucks, ahead of South and Central America and North America, accounting for 18.1% and 17.5% respectively, and Oceania for 13.8%. Over the four-year period to 2020, the region experiencing the highest growth is expected to be the Middle East and Africa, with its share of the total truck population rising from 10.7% to 11.2%.
In terms of commodities, 30% of surface mining trucks are utilised in coal mines, 28% across base and precious metal mines and 16% in iron ore mining. Purchases of surface mining trucks through 2020 are expected to remain moderate across the coal and iron ore mines. However, it is anticipated that truck demand will be higher amongst base and precious metal producers, with their share of the total rising from 28.2% in 2017 to 29.9% 2020.
Caterpillar, Komatsu, Volvo, Tata and BEML are the key players in the global surface mining trucks market, with an estimated 70% of the market between them. Other significant companies, within the remaining 30%, include Belaz, Scania, Terex, Hitachi, and Bell.
GlobalData's forecasts for mining trucks are generated using our existing database of approximately 100,000 pieces of mobile mining equipment at over 3,000 operating mines, and 4-year forecasts for ROM production for all current operating and developing mines.
