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New Market Analysis Report on Global Mining Equipment Industry

Nov 24 2017

In 2012, the global mining equipment market was evaluated around USD 79.35 billion and is expected to reach approximately USD 173.21 billion by 2022 while registering itself at a compound annual growth rate (CAGR) of 8.12% over the forecast period.

Technological advancements like data transmission via real-time monitoring of activities and cloud networks have ensued in the growing utilization of smart mining solutions extending significant benefits across traditional mechanical products. The conversion from subversive to economical and innovative open pit mining is estimated to drive the demand for the next few years. Also, the expansion of high-performance tools has made it feasible without increasing the costs to a remove ores of declining grades. This drift is gradually noticeable in numerous steel manufacturing enterprises engaging to penetrate the mineral exploration segment for ensuring their sources of iron ore and coking coal at an affordable cost. The decreasing capital spending has affected the products demand negatively over the recent years. Though, the tough demand for drilling and exploration operations and the rising growths in this segment are anticipated to contribute to the market growth positively. Moreover, market players are concentrating on enhancing productivity, efficiency, and cost decline in their processes to defend their revenue margins. The growing inclination towards spreading novel technologies and funding the renewable installations is boosting the expansion of automated exploration processes and equipment for improving energy consumption.

Scope of the Report
This report focuses on the Mining Equipment in Global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application. This report covers collaborations in the field along with new product launches, competitive landscape analysis listing out the mergers, acquisitions, comparative financial studies and recent strategic developments in the market by the major companies.

The report Mining Equipment Market render a wide-ranging analysis of the said market in terms of product, regional, application and end user segmentation. The report comprises of the present market size of this industry. Also, the potential outlooks and current market summary of this segment has been thoroughly analyzed in this report. Moreover, chief market players of the Mining Equipment Market are studied on various factors like product portfolio, company profile, sales analysis, revenue generation through the forecast period.

Major Market Players