The global mining equipment market was valued at USD 71.5 billion in 2012 and is expected to reach USD 117.0 billion by 2018, growing at a CAGR of 8.5% from 2012 to 2018. The report "Mining Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2012 - 2018" is available for sale on the company's website.
Mining is an important sector of the world economy. It not only contributes greatly in terms of revenue, but also supplements the economy by generating employment and providing innumerable resources to other industries. The mining activities across the globe have seen a steady arise over the past few years, thus fueling the demand for mining equipment market. The primary reason for mining equipment market to witness stupendous growth is increasing demand for mineral and metal commodities. The other growth drivers pushing the mining equipment market are need for technologically advanced equipment in the developing countries to support the booming mining industry.
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The iron ore deposits in emerging economies such as Africa, Australia, Russia, and Brazil are expected to give the mining equipment market a solid push in the coming years. Additionally, the activities in oil refineries, coal mining, and such other underground mining activities in Latin American regions and in Asia Pacific is further expected to create a demand for mining equipment market.
The global mining equipment market has been fragmented into six segments to understand the intricacies of the market. Crushing, mining drills and breakers, mineral processing machinery, pulverizing and screening equipment, underground mining machinery, and surface mining equipment are the six sub-segments of the main mining equipment market studied in this report. Out of these, metal mining, coal mining, and mineral mining hold the main share in the global mining equipment market. This market is also studied on the basis of geography which includes regions such as Europe, Asia Pacific, North America, and rest of the world. It provides forecasts and estimates after making critical evaluation of the micro and macroeconomic forces affecting the global mining equipment market.
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The report on mining equipment market also highlights the competitive landscape of this market. It provides a valuable insight about the financial outlook of the key players in the mining equipment market.
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The mining equipment market research report also focuses on marketing strategies, financial plans, mergers and acquisitions, and research and development of the important manufacturers in this industry. Some of the key players studied in this report are Joy Global Inc., Caterpillar Inc., Hitachi Construction Machinery, Sandvick AB, Atlas Copco, and Komatsu Limited.
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