North America Mining Remanufacturing Components Market Size and Forecast (2021 - 2031), Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Engine, Axle, Transmission, Hydraulic Cylinder, and Others), Equipment (Excavators, Wheel Loader, Wheel Dozer, Crawler Dozer, Haul Trucks, and Others), and Industry (Coal, Metal, and Others), and Region
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.
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
10.1.3.1.1 Mexico: North America Mining Remanufacturing Components Market Breakdown by Component
10.1.3.1.2 Mexico: North America Mining Remanufacturing Components Market Breakdown by Equipment
10.1.3.1.3 Mexico: North America Mining Remanufacturing Components Market Breakdown by Industry
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
List of Tables
Table 1. North America Mining Remanufacturing Components Market Segmentation
Table 2. List of Suppliers
Table 3. North America Mining Remanufacturing Components Market – Revenue and Forecast to 2031 (US$ Million)
Table 4. North America Mining Remanufacturing Components Market – Revenue and Forecast to 2031 (US$ Million) – by Component
Table 5. North America Mining Remanufacturing Components Market – Revenue and Forecast to 2031 (US$ Million) – by Equipment
Table 6. North America Mining Remanufacturing Components Market – Revenue and Forecast to 2031 (US$ Million) – by Industry
Table 7. North America Mining Remanufacturing Components Market – Revenue and Forecast to 2031 (US$ Million) – by Country
Table 8. United States: North America Mining Remanufacturing Components Market – Revenue and Forecast to 2031 (US$ Million) – by Component
Table 9. United States: North America Mining Remanufacturing Components Market – Revenue and Forecast to 2031 (US$ Million) – by Equipment
Table 10. United States: North America Mining Remanufacturing Components Market – Revenue and Forecast to 2031 (US$ Million) – by Industry
Table 11. Canada: North America Mining Remanufacturing Components Market – Revenue and Forecast to 2031 (US$ Million) – by Component
Table 12. Canada: North America Mining Remanufacturing Components Market – Revenue and Forecast to 2031 (US$ Million) – by Equipment
Table 13. Canada: North America Mining Remanufacturing Components Market – Revenue and Forecast to 2031 (US$ Million) – by Industry
Table 14. Mexico: North America Mining Remanufacturing Components Market – Revenue and Forecast to 2031 (US$ Million) – by Component
Table 15. Mexico: North America Mining Remanufacturing Components Market – Revenue and Forecast to 2031 (US$ Million) – by Equipment
Table 16. Mexico: North America Mining Remanufacturing Components Market – Revenue and Forecast to 2031 (US$ Million) – by Industry
Table 17. Heat Map Analysis by Key Players
List of Figures
Figure 1. North America Mining Remanufacturing Components Market Segmentation, by Country
Figure 2. PEST Analysis
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. North America Mining Remanufacturing Components Market Revenue (US$ Million), 2021–2031
Figure 5. North America Mining Remanufacturing Components Market Share (%) – by Component, 2023 and 2031
Figure 6. Engine: North America Mining Remanufacturing Components Market– Revenue and Forecast to 2031 (US$ Million)
Figure 7. Axle: North America Mining Remanufacturing Components Market– Revenue and Forecast to 2031 (US$ Million)
Figure 8. Transmission: North America Mining Remanufacturing Components Market– Revenue and Forecast to 2031 (US$ Million)
Figure 9. Hydraulic Cylinder: North America Mining Remanufacturing Components Market– Revenue and Forecast to 2031 (US$ Million)
Figure 10. Others: North America Mining Remanufacturing Components Market– Revenue and Forecast to 2031 (US$ Million)
Figure 11. North America Mining Remanufacturing Components Market Share (%) – by Equipment, 2023 and 2031
Figure 12. Excavators: North America Mining Remanufacturing Components Market– Revenue and Forecast to 2031 (US$ Million)
Figure 13. Wheel Loader: North America Mining Remanufacturing Components Market– Revenue and Forecast to 2031 (US$ Million)
Figure 14. Wheel Doser: North America Mining Remanufacturing Components Market– Revenue and Forecast to 2031 (US$ Million)
Figure 15. Crawler Dosers: North America Mining Remanufacturing Components Market– Revenue and Forecast to 2031 (US$ Million)
Figure 16. Haul Trucks: North America Mining Remanufacturing Components Market– Revenue and Forecast to 2031 (US$ Million)
Figure 17. Others: North America Mining Remanufacturing Components Market– Revenue and Forecast to 2031 (US$ Million)
Figure 18. North America Mining Remanufacturing Components Market Share (%) – by Industry, 2023 and 2031
Figure 19. Coal: North America Mining Remanufacturing Components Market– Revenue and Forecast to 2031 (US$ Million)
Figure 20. Metal: North America Mining Remanufacturing Components Market– Revenue and Forecast to 2031 (US$ Million)
Figure 21. Others: North America Mining Remanufacturing Components Market– Revenue and Forecast to 2031 (US$ Million)
Figure 22. North America Mining Remanufacturing Components Market Breakdown by Key Countries, 2023 and 2031 (%)
Figure 23. United States: North America Mining Remanufacturing Components Market – Revenue and Forecast to 2031 (US$ Million)
Figure 24. Canada: North America Mining Remanufacturing Components Market – Revenue and Forecast to 2031 (US$ Million)
Figure 25. Mexico: North America Mining Remanufacturing Components Market – Revenue and Forecast to 2031 (US$ Million)
Figure 26. Company Positioning & Concentration
The List of Companies - North America Mining Remanufacturing Components Market
- AB Volvo
- Atlas Copco
- Caterpiller Inc
- Epiroc AB
- Hitachi Construction Machinery Co. Ltd.
- J C Komatsu Ltd.
- Liebherr Group
- Bamford Excavators Ltd.
- SRC Holding Corporation
- Swanson Industries
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the mining remanufacturing components market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the North America mining remanufacturing components market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution