South & Central America Mining Remanufacturing Components Market Forecast to 2030
South & Central America Mining Remanufacturing Components Market Forecast to 2030 – Regional Analysis – by Component (Engine, Axle, Transmission, Hydraulic Cylinder, and Others), Equipment (Excavator, Wheel Loader, Wheel Dozer, Crawler Dozer, Haul Truck, and Others), and Industry (Coal, Metal, and Others)
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Description
Rising Adoption of Electric and Autonomous Vehicles in Mining Industry Fuels South & Central America Mining Remanufacturing Components Market
The mining sector is beginning to profit from a new generation of low-emission “driverless” mine vehicles that are changing the industry’s image and moving it toward decarbonization. Electric vehicles (EVs) are added to fleets for use in both open pit and underground operations by purchasing or refitting existing diesel engine vehicle fleets. Toyota Motor Corp. is at the forefront of developing these new mining vehicles. Toyota and Komatsu launched a cooperative effort in May 2023 to build an autonomous light vehicle (ALV) that will run on Komatsu’s GPS-enabled Autonomous Haulage System (AHS). Cool Planet Group, a decarbonization solutions company, announced a US$ 54.2 million deal with a “leading global mining company” in May 2023 to convert 8,500 diesel mining trucks to electric vehicles over the next three years. According to the firm’s CEO, up to 1 million diesel mining vehicles must be converted to electricity by 2030. The company is now collaborating with five or six of the world’s major mining companies.
In 2023, at a mine in Brazil, U&M Mineração e Construção S/A and Hexagon implemented their OEM-agnostic AHS solution in combination with a plan to introduce two AHS-enabled modified Caterpillar 777 trucks to the project. In order to prepare the 100-ton class payload trucks for automation, U&M collaborated with them to do the necessary mechanical modifications without interfering with the OEM system.
The abovementioned activities by mining and truck manufacturing companies are projected to increase the adoption of electric trucks in the mining industry. This increased demand for electric trucks will directly boost the demand for the truck’s components, such as battery packs, motors, and transmissions, which is expected to create lucrative opportunities for the mining remanufacturing component market during the forecast period.
South & Central America Mining Remanufacturing Components Market Overview
The mining remanufacturing components market in South & Central America is segmented into Brazil, Argentina, and Rest of South & Central America. The positive performance of the mining sector in Brazil is likely to create growth opportunities for various industries that support and serve the mining operations. One such industry is the mining remanufacturing component, as remanufacturing components are crucial equipment for handling bulk materials in mining operations, including the transportation of minerals like iron ore, gold, and copper.
Argentina holds a significant position in the gold production landscape of South America. As the fourth largest gold producer in the region, after Peru, Brazil, and Colombia, the country’s gold mining activities contribute to its economy and provide opportunities for investors and industry players. Argentina has an impressive mining portfolio worth US$ 30 billion, comprising a diverse range of 113 projects. Currently, 19 projects are in production, and seven are under construction, demonstrating the country’s commitment to expanding its mining industry. The remaining projects are at various stages of development, with six in feasibility, six in prefeasibility, 13 in pre-economic assessment, and 62 in advanced exploration status. Copper mining projects dominate Argentina’s portfolio, accounting for over 50% of the total mining portfolio. The country also boasts significant deposits of other valuable minerals, including aluminum, boron, iron, molybdenum, potash, uranium, vanadium, and zinc. This mineral diversity highlights Argentina’s potential to become a leading exporter in the mining sector. The abundance of valuable mineral resources in Argentina underscores the importance of the mining sector in the country’s economy and its potential to drive economic growth and development. The exploitation and export of these minerals present opportunities for various industries, including those that provide equipment and solutions for mineral extraction and processing, such as mining remanufacturing components and other material handling equipment.
South & Central America Mining Remanufacturing Components Market Revenue and Forecast to 2030 (US$ Million)
South & Central America Mining Remanufacturing Components Market Segmentation
The South & Central America mining remanufacturing components market is categorized into component, equipment, industry, and country.
Based on component, the South & Central America mining remanufacturing components market is segmented into engine, axle, transmission, hydraulic cylinder, and others. The engine segment held the largest South & Central America mining remanufacturing components market share in 2022.
In terms of equipment, the South & Central America mining remanufacturing components market is segmented into excavator, wheel loader, wheel dozer, crawler dozer, haul truck, and others. The crawler dozers segment held the largest South & Central America mining remanufacturing components market share in 2022.
By industry, the South & Central America mining remanufacturing components market is divided into coal, metal, and others. The metal segment held the largest South & Central America mining remanufacturing components market share in 2022.
By country, the South & Central America mining remanufacturing components market is segmented into Brazil, Argentina, and the Rest of South & Central America. The Rest of South & Central America dominated the South & Central America mining remanufacturing components market share in 2022.
Atlas Copco AB, J C Bamford Excavators Ltd, Caterpillar Inc, Epiroc AB, Swanson Industries Inc, Komatsu Ltd, Liebherr-International AG, AB Volvo, and Hitachi Construction Machinery Co Ltd are some of the leading companies operating in the South & Central America mining remanufacturing components market.
Summary Info
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According to the Research Team’ research, the South & Central America mining remanufacturing components market was valued at US$ 371.61 million in 2022 and is expected to reach US$ 470.95 million by 2030, recording a CAGR of 3.0% from 2022 to 2030 Additive manufacturing in remanufacturing industry and rising adoption of electric and autonomous vehicles in mining industry are among the critical factors attributed to drive the South & Central America mining remanufacturing components market growth.
As one of the major technologies of remanufacturing engineering, additive remanufacturing technology can repair the structure and function of high-value-added key metal parts of large and complex equipment, significantly reducing use and maintenance costs and saving labor and time costs. Additive remanufacturing is a subset of additive manufacturing technology that might restore the size accuracy of damaged parts, increase surface performance, and introduce new surface functions as needed. In the remanufacturing process, additive manufacturing technologies such as laser sintering and thermal spraying are utilized to restore worn parts or cores to their original proportions, and 3D printing is also employed in various ways by remanufacturers. Additive manufacturing is viewed as advantageous in remanufacturing. A few additive manufacturing technologies create standalone parts and can also be used to repair damage or add functionality to an existing item to convert a core to the newest specification. However, additive manufacturing or 3D printing is in the nascent stages in the coming years, and additive manufacturing can be integrated with the remanufacturing process. Many 3D printing and mining vehicle manufacturing companies are taking steps toward using this technology as a mainstream process. Caterpillar, one of the key mining vehicle manufacturers, is also focusing on additive manufacturing for component manufacturing.
Thus, the rising adoption of additive manufacturing in the remanufacturing industry is expected to fuel the market growth in the coming years.
On the contrary, quality issues and technological barriers hamper the growth of South & Central America mining remanufacturing components market.
Based on component, the South & Central America mining remanufacturing components market is segmented into engine, axle, transmission, hydraulic cylinder, and others. The engine segment held 45.7% market share in 2022, amassing US$ 169.65 million. It is projected to garner US$ 211.39 million by 2030 to register 2.8% CAGR during 2022–2030.
In terms of equipment, the South & Central America mining remanufacturing components market is segmented into excavator, wheel loader, wheel dozer, crawler dozer, haul truck, and others. The crawler dozers segment held 25.2% share of South & Central America mining remanufacturing components market in 2022, amassing US$ 93.80 million. It is anticipated to garner US$ 118.12 million by 2030 to expand at 2.9% CAGR during 2022–2030.
By industry, the South & Central America mining remanufacturing components market is divided into coal, metal, and others. The metal segment held 47.0% share of South & Central America mining remanufacturing components market in 2022, amassing US$ 174.52 million. It is projected to garner US$ 228.71 million by 2030 to expand at 3.4% CAGR from 2022 to 2030.
Based on country, the South & Central America mining remanufacturing components market is categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that the Rest of South & Central America captured 52.7% share of South & Central America mining remanufacturing components market in 2022. It was assessed at US$ 195.76 million in 2022 and is likely to hit US$ 236.41 million by 2030, registering a CAGR of 2.4% during 2022–2030.
Key players operating in the South & Central America mining remanufacturing components market are Atlas Copco AB, J C Bamford Excavators Ltd, Caterpillar Inc, Epiroc AB, Swanson Industries Inc, Komatsu Ltd, Liebherr-International AG, AB Volvo, and Hitachi Construction Machinery Co Ltd, among others.
In May 2023, Komatsu and Toyota are collaborating on a joint project to develop an Autonomous Light Vehicle (ALV) using Komatsu’s Autonomous Haulage System (AHS). The aim is to enhance safety and productivity in mines by running autonomous haul trucks and automated ALVs. In November 2022, Swanson Industries, a leading provider of hydraulic cylinder manufacturing, remanufacturing, repair, and distribution services, is pleased to announce that it has acquired the majority ownership of Tiefenbach South & Central America, LLC (“TNA”). The acquisition was completed on October 31, 2022. Tiefenbach Control Systems, Gmbh (“TCS”) will retain minority interest in TNA.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in the South & Central America mining remanufacturing components market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth South & Central America market trends and outlook coupled with the factors driving the South & Central America mining remanufacturing components market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
1. Introduction
1.1 The the Reporting Teams Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. South & Central America Mining Remanufacturing Components Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
5. South & Central America Mining Remanufacturing Components Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Reduced Cost Compared to New Components
5.1.2 Growth in Mining Industry
5.2 Market Restraints
5.2.1 Quality Issues and Technological Barriers
5.3 Market Opportunities
5.3.1 Rising Adoption of Electric and Autonomous Vehicles in Mining Industry
5.4 Future Trends
5.4.1 Additive Manufacturing in Remanufacturing Industry
5.5 Impact of Drivers and Restraints:
6. Mining Remanufacturing Components Market – South & Central America Market Analysis
6.1 Mining Remanufacturing Components Market Revenue (US$ Million), 2020-2030
6.2 Mining Remanufacturing Components Market Forecast Analysis
7. South & Central America Mining Remanufacturing Components Market Analysis – by Component
7.1 Engine
7.1.1 Overview
7.1.2 Engine: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
7.2 Axle
7.2.1 Overview
7.2.2 Axle: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
7.3 Transmission
7.3.1 Overview
7.3.2 Transmission: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
7.4 Hydraulic Cylinder
7.4.1 Overview
7.4.2 Hydraulic Cylinder: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
7.5 Others
7.5.1 Overview
7.5.2 Others: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
8. South & Central America Mining Remanufacturing Components Market Analysis – by Equipment
8.1 Excavator
8.1.1 Overview
8.1.2 Excavator: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
8.2 Wheel Loader
8.2.1 Overview
8.2.2 Wheel Loader: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
8.3 Wheel Dozer
8.3.1 Overview
8.3.2 Wheel Dozer: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
8.4 Crawler Dozer
8.4.1 Overview
8.4.2 Crawler Dozer: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
8.5 Haul Truck
8.5.1 Overview
8.5.2 Haul Truck: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
9. South & Central America Mining Remanufacturing Components Market Analysis – by Industry
9.1 Coal
9.1.1 Coal: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
9.2 Metal
9.2.1 Overview
9.2.2 Metal: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
9.3 Others
9.3.1 Overview
9.3.2 Others: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
10. South & Central America Mining Remanufacturing Components Market – Country Analysis
10.1 South & Central America Market Overview
10.1.1 South & Central America: Mining Remanufacturing Components Market – Revenue and Forecast Analysis – by Country
10.1.1.1 South & Central America: Mining Remanufacturing Components Market – Revenue and Forecast Analysis – by Country
10.1.1.2 Brazil: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
10.1.1.2.1 Brazil: Mining Remanufacturing Components Market Breakdown, by Component
10.1.1.2.2 Brazil: Mining Remanufacturing Components Market Breakdown, by Equipment
10.1.1.2.3 Brazil: Mining Remanufacturing Components Market Breakdown, by Industry
10.1.1.3 Argentina: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
10.1.1.3.1 Argentina: Mining Remanufacturing Components Market Breakdown, by Component
10.1.1.3.2 Argentina: Mining Remanufacturing Components Market Breakdown, by Equipment
10.1.1.3.3 Argentina: Mining Remanufacturing Components Market Breakdown, by Industry
10.1.1.4 Rest of South & Central America: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
10.1.1.4.1 Rest of South & Central America: Mining Remanufacturing Components Market Breakdown, by Component
10.1.1.4.2 Rest of South & Central America: Mining Remanufacturing Components Market Breakdown, by Equipment
10.1.1.4.3 Rest of South & Central America: Mining Remanufacturing Components Market Breakdown, by Industry
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Product Development
11.4 Mergers & Acquisitions
12. Competitive Landscape
12.1 Heat Map Analysis by Key Players
12.2 Company Positioning & Concentration
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 AB Volvo
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 Hitachi Construction Machinery Co Ltd
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
14. Appendix
14.1 About The the Reporting Teams
Table 1. Mining Remanufacturing Components Market Segmentation
Table 2. Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
Table 3. Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million) – by Component
Table 4. Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million) – by Equipment
Table 5. Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million) – by Industry
Table 6. South & Central America: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million) – by Country
Table 7. Brazil: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million) – by Component
Table 8. Brazil: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million) – by Equipment
Table 9. Brazil: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million) – by Industry
Table 10. Argentina: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million) – by Component
Table 11. Argentina: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million) – by Equipment
Table 12. Argentina: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million) – by Industry
Table 13. Rest of South & Central America: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million) – by Component
Table 14. Rest of South & Central America: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million) – by Equipment
Table 15. Rest of South & Central America: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million) – by Industry
Table 16. Heat Map Analysis by Key Players
Figure 1. Mining Remanufacturing Components Market Segmentation, by Country
Figure 2. Mining Remanufacturing Components Market – Key Market Dynamics
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. Mining Remanufacturing Components Market Revenue (US$ Million), 2020-2030
Figure 5. Mining Remanufacturing Components Market Share (%) – by Component (2022 and 2030)
Figure 6. Engine: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
Figure 7. Axle: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
Figure 8. Transmission: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
Figure 9. Hydraulic Cylinder: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
Figure 10. Others: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
Figure 11. Mining Remanufacturing Components Market Share (%) – by Equipment (2022 and 2030)
Figure 12. Excavator: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
Figure 13. Wheel Loader: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
Figure 14. Wheel Dozer: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
Figure 15. Crawler Dozer: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
Figure 16. Haul Truck: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
Figure 17. Others: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
Figure 18. Mining Remanufacturing Components Market Share (%) – by Industry (2022 and 2030)
Figure 19. Coal: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
Figure 20. Metal: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
Figure 21. Others: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
Figure 22. South & Central America Mining Remanufacturing Components Market, by Key Countries – Revenue (2022) (US$ Million)
Figure 23. South & Central America: Mining Remanufacturing Components Market Breakdown, by Key Countries, 2022 and 2030 (%)
Figure 24. Brazil: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
Figure 25. Argentina: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
Figure 26. Rest of South & Central America: Mining Remanufacturing Components Market – Revenue and Forecast to 2030 (US$ Million)
Figure 27. Company Positioning & Concentration
The List of Companies – South & Central America Mining Remanufacturing Components Market
1. Atlas Copco AB
2. J C Bamford Excavators Ltd
3. Caterpillar Inc.
4. Epiroc AB
5. Swanson Industries Inc
6. Komatsu Ltd
7. Liebherr-International AG
8. AB Volvo
9. Hitachi Construction Machinery Co Ltd
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