The global mining
equipment market size is anticipated to exhibit a valuation of USD
128.39 billion by 2025, according to a report by Grand View Research, Inc.
Increasing number of drilling activities and research work across the globe is
likely to influence growth of the market in next few years.
Gradual downfall in the world economy is likely to
have a negative impact on both developed and emerging economies. In addition,
weak demand and low investments from major geographies such as North America
and Europe can add to economic downfall.
The industry is expected to start its recovery in 2016
as new sites are expected to be opened up and equipment manufacturers are
increasing their capital spending. Untapped regions of Africa, such as Congo
and Zambia having substantial metal mines and Latin American countries such as
Peru, Brazil, and Chile, are expected to trigger the recovery in the industry.
Mining companies have to cope with the decreasing ore
grades and exhaustion of easily accessible mining sites, which has led to the
shifting of mining sites to remote locations. These locations involve a higher
degree of technical complexity related to infrastructure, labor, and energy
consumption. Therefore, a highly efficient equipment is required to cater to
this industry over the forecast period. According to FLSmidth, customers are
currently puttinga strong focus on productivity and energy efficiency,which was
earlier on capacity expansion.
Browse full research report on Mining Equipment Market: https://www.grandviewresearch.com/industry-analysis/mining-equipment-industry
Further
key findings from the report suggest:
- The mineral processing machinery market is anticipated to grow at a
CAGR of over 7% from 2016 to 2025.This market is expected to remain
buoyant throughout the forecast period as it is the foremost process that
majority of the ores have to go through post-mining for providing a more
concentrated material.
- Coal mining is expected to account for over 35% of the industry by
2025.The equipment for coal extraction has expanded its purposes and
adoption as the excavation of coal has boomed in the recent years.
- The North American mining equipment market is expected to
contribute significantly to the revenue growth as the identification of
new natural gas reserves in the U.S. is expected to provide traction to
the demand for this equipment.
- The key players in the mining equipment market include Joy Global
Inc., Komatsu Ltd., Sandvik AB, Atlas Copco AB, Metso Corporation, and
Caterpillar Inc., among others.The competition in the industry is becoming
intense as Chinese manufacturers are coming up with the quality curve at
an alarming pace.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/oil-and-gas-drilling-and-extraction-equipments
Grand
View Research has segmented the mining equipment market based on the product,
application, and region:
Mining
Equipment Product Outlook (Revenue, USD Billion, 2014 - 2025)
- Mining drills
& breakers
- Crushing,
pulverizing & screening equipment
- Mineral
processing machinery
- Surface
mining equipment
- Underground
mining machinery
- Others
Mining
Equipment Application Outlook (Revenue, USD Billion, 2014 - 2025)
- Metal mining
- Mineral
mining
- Coal mining
Mining
Equipment Regional Outlook (Revenue, USD Billion, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- Asia Pacific
- China
- India
- RoW
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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