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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 Min......ing, Mineral Mining), By Region: (North, Central, South ), By Company: (KOMATSU Chile, Caterpillar, Liebherr International, CASE Construction, MPM LTDA, FleetCo, Emeco Holdings, SK Rental, AMECO South America, Lanztec, Others.) Read more

Buildings, Construction, Metals & Mining
May 2022
Pages 89
Report Format: PDF, Excel, PPT

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.

Introduction
1. Research Process
2. Assumption
3. Market Segmentation
4. Market Definition
Executive Summary
Impact of COVID-19 on Chile Mining Equipment Rental Market
Chile Mining Equipment Rental Market Trends & Insights
Chile Mining Equipment Rental Market Dynamics
1. Growth Drivers
2. Challenges
Chile Mining Equipment Rental Market Hotspot and Opportunities
Chile Mining Industry Outlook 2017-2021
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
        
        Backhoe Loader
        
        Skid Steer Loaders
        
        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
Chile Mining Equipment Rental Market Key Strategic Imperatives for Success and Growth
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
Disclaimer

MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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