Electric Rope Shovel Market: Introduction

  • Electric rope shovel is a type of rope excavator where the digging arm is powered and controlled by steel ropes and winches. The shovel is equipped with a bucket whose size ranges from 0.375 cubic meter to over 5 cubic meters.
  • An electric rope shovel is utilized for mineral extraction, digging & loading earth or fragmented rock, dragging softer material, and excavation for canals

Is something restraining your company’s growth in the Electric Rope Shovel Market? Ask for the report brochure here

Key Drivers & Restrains of Electric Rope Shovel Market

  • Increase in demand for heavy equipment for mineral extraction from the mining industry is expected to drive the electric rope shovel market during the forecast period. An electric rope shovel facilitates movement of large amount of material at low cost per ton and removes ore at the mine site. Increase in development of new mining fields due to surge in the demand for precious metals in South Korea, Japan, and China is estimated to further propel the market.
  • Technological innovations in the design of ropes, which improves maintenance access, reduces downtime, and enhances efficiency, is anticipated to propel the electric rope shovel market. The electric rope shovel possess a robust & stable design, high payload capacity, and is reliable, which is further estimated to boost the market.
  • Availability of substitute products is expected to restrain the global electric rope shovel market during the forecast period

Coal Mine Segment Expected to Hold Major Share of Global Market

  • The global electric rope shovel market can be segmented based on type, application, and region
  • In terms of type, the global electric rope shovel market can be divided into less than 20MT, 20MT-50MT, 50MT-100MT, and more than 100MT. 20MT rope shovel is an extensively used electric rope shovel due to continuous development and innovation in product design to improve efficiency and operation.
  • Based on application, the global electric rope shovel market can be classified into coal mines, copper mines, and others. The coal mining segment is estimated to expand significantly due to an increase in the demand for coal from power plants for electricity generation along with a rise in the demand for energy. Ease of availability and low cost are key parameters boosting its adoption in the power generation industry.

Asia Pacific Expected to Hold a Major Share of Global Electric Rope Shovel Market

  • In terms of region, the global electric rope shovel market can be divided into: Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
  • The electric rope shovel market in Asia Pacific is expected to expand at a significant pace during the forecast period due to ongoing investments in the coal mining sector to cater to the demand for fossil fuel from residential, commercial, and industrial establishments, primarily in developing nations such as India and China. Rapid urbanization & industrialization, increase in purchasing power, and rise in standard of living are key parameters, augmenting the demand for coal across the region. Moreover, addition of new coal mining capacity is also anticipated to propel the market. For instance, as per the Energy Bureau, China added 194 million tons to its total coal mining capacity in 2018.
  • The electric rope shovel market in North America is expected to expand at a significant pace during the forecast period. This expansion can be attributed to a rise in capital expenditure in oil sands mining, primarily in Canada.
  • The electric rope shovel market in Europe is also projected to expand during the forecast period due to an increase in investments in the research and development sector to enhance operational efficiency of the power shovel.
  •  The electric rope shovel market in Latin America and Middle East & Africa is anticipated to expand at a significant pace during the forecast period. Abundant availability of iron ore reserves, primarily in Brazil, is anticipated to fuel the market in the region.

To Get a Bird’s Eye View of Electric Rope Shovel Market Forecast, Ask for a Custom Report

Key Players Operating in Global Electric Rope Shovel Market

Leading companies operating in the global electric rope shovel market include:

  • Komatsu Germany GmbH
  • Caterpillar 
  • Heavy Engineering Corporation Ltd
  • L&H Industrial
  • IZ-KARTEX
  • PC Mining
  • ABB
  • Taiyuan Heavy Industry Co., Ltd.
  • SANY GROUP
  • BEML Limited.

Global Electric Rope Shovel Market: Research Scope

Global Electric Rope Shovel Market, by Type

  • less than 20MT
  • 20MT-50MT
  • 50MT-100MT
  • Over 100MT

Global Electric Rope Shovel Market, by Application

  • Coal Mines
  • Copper Mines
  • Others

Global Electric Rope Shovel Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Sweden
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Electric Rope Shovel Market

Pre Book