Chile Mining Equipment Rental

Chile Mining Equipment Rental Market Research Report: Forecast (2022-27)

By Equipment: (Earthmoving Equipment, Material Handling Equipment, Surface Mining Equipment, Underground Mining Equipment, Other Equipment), By Application: (Coal Mining, Metal Mining, Mineral Mining) Read more

  • Buildings, Construction, Metals & Mining
  • May 2022
  • 89
  • BM10210

Market Definition

Mining equipment indicates a powered or self-powered machine or vehicle used to extract metals or minerals from beneath the earth's surface and then transport them from the working places to an on-site warehouse facility, processing plant, etc. Sometimes, the miners or the mining companies require equipment for a shorter period, or they do not wish to incur the CAPEX in procuring & maintenance. Therefore, renting out or hiring the equipment is one of the most convenient options. The mining companies pay hourly or monthly charges only for the equipment they use. This way, the companies reduce their fixed & variable costs associated with the equipment.  

Market Insights

The Chile Mining Equipment Rental Market is anticipated to grow at a CAGR of around 3.8% during the forecast period, 2022-27. The Chile Mining Equipment Rental market has gained prominence in recent years, owing to favorable government policies to promote mining activities, booming metal, mineral, and coal exports, as well as a growing interest from global mining companies to explore Chile's mines. Chile has been one of the leading producers of copper, lithium, iodine, rhenium, sodium, and potassium nitrate, among various others. Additionally, numerous countries, including China, the US, Brazil, Argentina, South Korea, Japan, etc., are some of the major buyers of Chile mined products. Furthermore, rising mining exploration activities in the country have increased the demand for mining equipment such as excavators, loaders, cranes, dump trucks, draglines, etc.

Report Coverage Details
Study Period Historical Data: 2017-20
Base Year: 2021
Forecast Period: 2022-27
CAGR (2022-2027) 3.8%
Key Companies Profiled KOMATSU Chile, Caterpillar, Liebherr International, CASE Construction, MPM LTDA, FleetCo, Emeco Holdings, SK Rental, AMECO South America, Lanztec, Others
Unit Denominations USD Million/Billion

 

As a result, mining companies operating in the country are more inclined to reduce their overall operational costs by renting the equipment rather than investing a large sum of money in purchasing new equipment. According to the Observatory of Economic Complexity (OEC), in 2019, Chile exported copper ore worth USD18.4 billion globally. Moreover, most of the Chilean mines are operated by private players such as Freeport McMoran Copper & Gold Inc., Albemarle Corporation, and companies from Canada, Australia, Europe, and Asia, providing Chile with a constant flow of investments in mining.

Besides, in 2020, the country saw an upswing in mining activities due to the shortage of metals & other essential minerals in the neighboring countries. Consequently, the demand for mining equipment, including machinery & other equipment for surface & underground mining, also witnessed a notable upsurge and would continue to outpour during the forecast years as well.

Key Trend in the Market

Growing Use of Telematics in the Mining Industry

Rising technological advancements & innovation are fueling the mining industry’s growth. Automation, the Internet of Things (IoT), plasma technology, and 3D imaging are the major technologies that have a positive impact on the mining equipment industry. The utilization of telematics in the mining industry helps in the collection & integration of data in a single view to optimize mine performance. Moreover, telematics helps in tracking fuel usage, thus optimizing cost. Furthermore, telematics-enabled equipment could also track & measure operator behavior like harsh braking & speeding at the mine site.

Impact of COVID-19 on Chile Mining Equipment Rental Market

COVID-19 had a significant impact on the Chile Mining Equipment Rental market. In 2020, Chile was heavily dependent upon imports of mining equipment, primarily from North America, Europe, and China. The slowdown in the production of mining equipment delayed the order deliveries to the mining equipment rental companies. In addition, the mining activities were stalled in Chile for around 3-4 months. This further reduced the earnings of mining equipment rental companies, and the hourly rental rate of equipment also registered a decline. However, the resumption of mining activities in late 2020 & the opening up of new mining sites in early 2021 nullified the impact of COVID-19 on industrial earnings.  

  1. Introduction
    1. Research Process
    2. Assumption
    3. Market Segmentation
    4. Market Definition
  2. Executive Summary
  3. Impact of COVID-19 on Chile Mining Equipment Rental Market
  4. Chile Mining Equipment Rental Market Trends & Insights
  5. Chile Mining Equipment Rental Market Dynamics
    1. Growth Drivers
    2. Challenges
  6. Chile Mining Equipment Rental Market Hotspot and Opportunities
  7. Chile Mining Industry Outlook 2017-2021
  8. Chile Mining Equipment Rental Market Outlook, 2017- 2027
    1. Market Size and Analysis
      1. By Revenues (USD Million)
    2. Market Share and Analysis
      1. By Equipment
        1. Earthmoving Equipment
          1. Excavator
          2. Bulldozer
          3. Loaders
            1. Backhoe Loader
            2. Skid Steer Loaders
            3. Wheel Loaders
          4. Others (Dozers, Motor Graders, etc.)
        2. Material Handling Equipment
          1. Mobile Cranes
          2. Tower Cranes
          3. Low & Flat Bed Trailers
          4. Light Cargo Trucks
          5. Dump Trucks
          6. Others (Tipper Trucks, etc.)
        3. Surface Mining Equipment
          1. Blast hole Drills
          2. Hydraulic Mining Shovels and Excavators
          3. Draglines
          4. Others (Mining Crushers, etc.)
        4. Underground Mining Equipment
          1. Feeder Breakers
          2. Crane lifts
          3. Hydraulic Jumbo Drills
          4. Drifters
          5. Others (Bolting Systems, Haulage Systems, etc.)
        5. Other Equipment
          1. Fuel Trucks
          2. Mineral Processing Machinery
          3. Diesel Generators
          4. Air Compressors
          5. Lighting Towers
          6. Others (Man lifts, Implements & Hammers, etc.)
      2. By Application
        1. Coal Mining
        2. Metal Mining
        3. Mineral Mining
      3. By Region
        1. North
        2. Central
        3. South
      4. By Company
        1. Revenue Shares
        2. Competition Characteristics
  9. Chile Mining Equipment Rental Market Key Strategic Imperatives for Success and Growth
  10. Competitive Outlook
    1. Competition Matrix
      1. Application Portfolio
      2. Brand Specialization
      3. Target Markets
      4. Target Applications
      5. Research & Development
      6. Strategic Alliances
      7. Strategic Initiatives
    2. Company Profiles (Business Description, Application Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
      1. KOMATSU Chile
      2. Caterpillar
      3. Liebherr International
      4. CASE Construction
      5. MPM LTDA
      6. FleetCo
      7. Emeco Holdings
      8. SK Rental
      9. AMECO South America
      10. Lanztec
      11. Others
  11. Disclaimer
Chile Mining Equipment Rental Market Segmentation
*This field is required