Mining Remanufacturing Components Market worth $5.0 billion by 2027
                     MarketsandMarkets 
Presents
Mining Remanufacturing 
Components Market worth $5.0 
billion by 2027
https://
www.marketsandmarkets.com/Market-Reports/mining-remanufacturi
ng-components-market-44140438.html
 
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”
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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.
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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 world’s 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 (CMPDI). 
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