Russia Mining Equipment Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Russia Mining Equipment Market Analysis
The Russia Mining Equipment Market is projected to grow with a CAGR of more than 6 % during the forecast period.
- With the abundance of mineral availability in Russia, it is one of the richest countries in terms of mineral resources. Almost all-important mineral resources are mined in the country, from base and precious metals, coal, iron ore, bauxite and diamonds.
- The country plays a leading role in the mining of platinum metals and diamonds. Russia is the leader in the production of rough diamonds, for coal, the country has 15 % of the world's reserves and is at 2nd place in the world. Russia is 2ndlargest producer of Platinum and 3rd largest producer of iron ore, gold and lead. The country also is rich in nickel, copper, cobalt and other rare minerals.
- However, the country imports more than 50% of the mining equipment required for the extraction of these metals and minerals. Hence, the market for mining equipment in Russia is very promising and there are several opportunities for the local players.
Russia Mining Equipment Market Trends
This section covers the major market trends shaping the Russia Mining Equipment Market according to our research experts:
Electric Vehicles Segment Grows with High CAGR
Electric vehicles are witnessing high potential in the mining industry not only because it reduces the carbon footprints but also it improves the site's safety. Especially, in underground mining electric vehicles improves the air quality underground as they do not emit any harmful gases and particulates that come from diesel engines such as nitrogen oxide. These harmful gases can cause breathing difficulties, resulting in conditions such as lung inflammation and asthma. Short-term exposure has been found to cause headaches and eye irritation, which could limit the effectiveness of workers.
Many players in the industry are spending heavily to develop new products to increased torque and handling to travel faster underground. For instance, in April 2020, ARMZ Mining Machinery become the first and only company in Russia producing lithium-ion battery-powered mining equipment through a collaboration with Aramine. The company has started producing the mining equipment in Krasnokamensk, in the Trans-Baikal Territory of Russia.
The ARGO LHD 140B is designed specifically for underground work in narrow-vein deposits. The Aramine mini loader L140B, has a width of 1.1 m and a bucket carrying capacity of 1.3 t. A 50-kW engine and a lithium-ion battery pack provide high mobility and continuous operation for up to four hours; at the same time, offering low noise, minimal heat transfer and no gas contamination in the mine.
Coal Mining Captures Largest Market
Russia has boosted its coal production capacity by more than 30% in the last decade reaching a total capacity of over 440million tons and has become the world's third largest producer of coal. The investment in the industry surged 150% during the same period. Coal mining in Russia is entirely in the hands of private companies.
The market leader is SUEK (Siberian Coal Energy Company) with coal sales of 113.8 Mta, with a market share of 25 % in 2018. Due to the increasing demand for thermal coal, Russia continues to expand its production volumes and infrastructure. The markets in Japan, Korea and Taiwan primarily demand high-quality boiler coals with calorific values of 5600 kcal and higher.
However, the low temperature in the country is a challenge for most of the mining equipment manufacturers as mining equipment fail to operate in such low temperatures, temperatures can get as low as -45 degrees Celsius - puts mining equipment to the test. But the major mining operators are spending heavily on procurement of new products which can overcome the situation and perform smoothly in such conditions. For instance, in March 2019, Komatsu PC1250 diesel hydraulic excavator arrived at SUEK's Apsatsky open pit mine. Komatsu PC1250 is suitable for operation at low temperatures, which will ensure an uninterrupted work of miners in the northern part of Zabaikalye, at the Apsatsky open pit mine.
Russia Mining Equipment Industry Overview
The Russia Mining Equipment Market is fragmented, with many players accounting for a small market share. Some of the prominent companies in the Russia Mining Equipment Market are Strommashina Corp.. Mitsubishi COrporation, Hitachi Construction Machinery, Kopeysk Machine Building Plant, UZTM Kartex Gazprombank Group and others. The major players in the country are entering into strategic partnership with global leaders to gain considerable market share.
For instance, in October 2018, South African Mining Equipment supplier Weba Chute systems entered into a partnership with Russian polyurethane producer Somex.
Russia Mining Equipment Market Leaders
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UZTM Kartex Gazprombank Group
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Mitsubishi Corporation (Russia) LLC
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Hitachi Construction Machinery
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Kopeysk Machine Building Plant
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Strommashina Corp.
*Disclaimer: Major Players sorted in no particular order
Russia Mining Equipment Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
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4.3 Porters Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Type
- 5.1.1 Surface Mining
- 5.1.2 Underground Mining
- 5.1.3 Mineral Processing Equipment
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5.2 Application
- 5.2.1 Metal Mining
- 5.2.2 Mineral Mining
- 5.2.3 Coal Mining
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5.3 Powertrain Type
- 5.3.1 IC Engines
- 5.3.2 Electric
6. COMPETITIVE LANDSCAPE
- 6.1 Vendor Market Share
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6.2 Company Profiles
- 6.2.1 UZTM Kartex Gazprombank Group
- 6.2.2 Mitsubishi Corporation (Russia) LLC
- 6.2.3 Hitachi Construction Machinery
- 6.2.4 Kopeysk Machine Building Plant
- 6.2.5 Strommashina Corp
- 6.2.6 Prominer Mining Technology Co.,Ltd.
- 6.2.7 DXN
- 6.2.8 Uralmash
- 6.2.9 Xinhai Mineral Processing EPC
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityRussia Mining Equipment Industry Segmentation
The Russia Mining Equipment Market report covers a detailed study on the latest trends and innovations in the market which is segmented by Type (Surface Mining Equipment, Underground Mining Equipment, and Mineral Processing Equipment), Application (Metal Mining, Mineral Mining, and Coal Mining), Powertrain type (IC Engine Vehicle and Electric Vehicle). A detailed study on major players, their strategies, technological advancements, innovations and financials is also included in the report.
| Type | Surface Mining |
| Underground Mining | |
| Mineral Processing Equipment | |
| Application | Metal Mining |
| Mineral Mining | |
| Coal Mining | |
| Powertrain Type | IC Engines |
| Electric |
Russia Mining Equipment Market Research FAQs
What is the current Russia Mining Equipment Market size?
The Russia Mining Equipment Market is projected to register a CAGR of 6% during the forecast period (2024-2029)
Who are the key players in Russia Mining Equipment Market?
UZTM Kartex Gazprombank Group, Mitsubishi Corporation (Russia) LLC, Hitachi Construction Machinery, Kopeysk Machine Building Plant and Strommashina Corp. are the major companies operating in the Russia Mining Equipment Market.
What years does this Russia Mining Equipment Market cover?
The report covers the Russia Mining Equipment Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Russia Mining Equipment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Mining in Russia Industry Report
Statistics for the 2024 Mining in Russia market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Mining in Russia analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
