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Mining Remanufacturing Components Market worth $5.0 billion by 2027


Mining Remanufacturing Components Market By Component (Engine, Hydraulic Cylinder, Axle, Transmission, Differential, Torque Convertor, Final Drive), Equipment (Excavator, Mine Truck, Wheel Loader, Dozer), Industry, Region - Global Forecast to 2027 – PowerPoint PPT presentation

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Title: Mining Remanufacturing Components Market worth $5.0 billion by 2027

MarketsandMarkets Presents

Mining Remanufacturing Components Market worth
5.0 billion by 2027
The report "Mining Remanufacturing Components
Market By Component (Engine, Hydraulic Cylinder,
Axle, Transmission, Differential, Torque
Convertor, Final Drive), Equipment (Excavator,
Mine Truck, Wheel Loader, Dozer), Industry,
Region - Global Forecast to 2027" The Mining
Remanufacturing Components Market is projected to
grow at a CAGR of 3.5 during the forecast
period, to reach a market size of USD 5.0 billion
by 2027 from USD 3.8 billion in 2019. Browse 81
market data Tables and 33 Figures spread
through 132 Pages and in-depth TOC on "Mining
Remanufacturing Components Market Get The PDF
Brochure For This Report _at_ https//www.marketsandm Some
prominent players in the mining remanufacturing
components market are Caterpillar (US), Komatsu
(Japan), Hitachi Construction Machinery (Japan),
Liebherr (Switzerland), Epiroc (Sweden), Atlas
Copco (Sweden), JCB (UK), Volvo Construction
Equipment (Sweden), SRC Holdings Corporation
(US), and Swanson Industries (US).
Engine is estimated as the fastest growing
remanufactured component for mining
equipment Engine is the most critical and
high-value component of any mining equipment. The
technology in engines is changing rapidly,
primarily as a response to increasing stringency
in emissions regulations. The reduced emission
limits have also increased the engine complexity
with advanced technology, which, in turn, has
increased the pricing. The average life of an
engine for the mining equipment is in the range
of 19,000- 20,500 operating hours. A
remanufactured engine offers several advantages
such as lower cost, superior quality, and similar
product warranty terms as the new one.
 Therefore, in the case of an engine breakdown,
most of the end-users will go for remanufacturing
rather than purchasing a new engine. Hydraulic
excavators and mine/haul trucks are expected to
have more demand for remanufactured engines, as
this equipment are used at the mine site and have
to face harsh environment and continuous mining
operations typically. To speak to our analyst
for a discussion on the above findings,
click Speak to Analyst
Mine/Haul Truck is the estimated to showcase
largest demand for remanufactured components in
coming years Mine/Haul trucks are used
extensively for surface mining activities. It
contributes the maximum to the overall mining
equipment parc globally. This equipment is used
for carrying heavy loads over long distances in
extreme condition and provide better traction on
rough terrains. Therefore, the possibility of
wear and tear is more for mine/haul truck as
compared to other equipment. Therefore, mine/haul
truck is expected to have a promising growth in
the mining exploration. Mining equipment is
projected to experience the fastest demand for
remanufactured components in Asia Oceania The
Asia Oceania region is expected to be the fastest
growing market for the mining remanufacturing
components. This region has emerged as a huge
business opportunity for the mining industry. For
instance, Asia Oceania held the second largest
share within the mining remanufacturing
components market in 2018. The key factor driving
the Asia Oceania market is increasing mining
activities, which have increased the sale of
mining equipment, resulting in the growth of
mining equipment parc. For instance, Vale, the
worlds largest iron ore mining company, has been
increasing its presence in China. In India, 30
new coal mining sites have been identified by the
Central Mine Planning and Design Institute
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