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New Underground Mining Equipment Market Research 2020-2024 | COVID-19 Market Impact Analysis | Technavio
December 24, 2020 GMT
Technavio has announced its latest market research report titled Global Underground Mining Equipment Market 2020-2024 (Graphic: Business Wire)
Technavio has announced its latest market research report titled Global Underground Mining Equipment Market 2020-2024 (Graphic: Business Wire)
LONDON (BUSINESS WIRE) Dec 23, 2020
The new underground mining equipment market research from Technavio indicates negative growth in the short term as the business impact of COVID-19 spreads.
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Technavio has announced its latest market research report titled Global Underground Mining Equipment Market 2020-2024 (Graphic: Business Wire)
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The global excavator market grew at a CAGR of around 5% during 2014-2019. An excavator refers to a kind of heavy construction equipment that is used for digging excavations and trenching purposes. It is also used for digging holes, foundations, demolitions, dredging rivers, material handling and lifting heavy objects. It uses hydraulic motors powered by an electric, diesel or petrol engine to generate hydraulic force and control the mechanical arm of the machine. The machine consists of a rear/back actor, sipper, undercarriage, digging bucket and a cabin on a rotating platform. In comparison to the traditionally used machines, modern excavators are designed to keep the counterweights inside the track width during swinging, thereby keeping the movement safe and enhancing the maneuverability.
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