Based on mining type, the global underground mining equipment market has been segmented into longwall extraction, room and pillar extraction, and others.The longwall extraction segment is anticipated to grow at a cagr of 4.5 during the forecast period.
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Nevertheless, the lack of awareness among people and the high price of equipment might hinder the growth of the global underground mining equipment market.Furthermore, the increase in industrial production and manufacturing in the developing regions would create market opportunities for underground mining equipment over the forecast period.
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