Hoists for Mining Market by Type (Drum Hoist, Friction Hoist, Others), by Industry (Coal Mine, Iron Ore, Non-metallic Minerals Ore, Others), by North America (U.S., Canada, Mexico), by Europe (UK, Germany, France, Italy, Spain, Russia, Netherlands, Switzerland, Poland, Sweden, Belgium), by Asia Pacific (China, India, Japan, South Korea, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines, New Zealand), by Latin America (Brazil, Mexico, Argentina, Chile, Colombia, Peru), by MEA (UAE, Saudi Arabia, South Africa, Egypt, Turkey, Israel, Nigeria, Kenya) Forecast 2024-2032
The Hoists for Mining Market size was valued at USD 0.54 USD Billion in 2023 and is projected to reach USD 0.80 USD Billion by 2032, exhibiting a CAGR of 5.71 % during the forecast period. Mining hoists are basic forms of mechanical equipment that are employed in the mining cyclic activities; lifting and lowering of load and personnel. They include shaft hoists, used in the transfer of minerals in deep mines through the vertical standard, and winding hoists, which are used in the transfer of minerals from underground to the surface or vice-versa, mainly of ores and waste products. Some of them are construction made for extreme and tough working conditions, sophisticated braking to enhance safety, and large drums/rope movement capacities. These hoists are very essential in the material transportation system in the mine so that the extracted minerals, equipment, and workforce can be moved from one level of the mine to the other safely and more profitably.
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Industry:
Key players in the hoists for mining market include:
The Hoists for Mining Market Report provides a comprehensive analysis of the market, including:
The market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. Asia-Pacific is expected to hold the largest market share during the forecast period, due to the increasing demand for minerals and metals in the region.
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.71 % from 2018-2032 |
Segmentation |
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Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.71 % from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
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