Mining Equipment Market Projected to Grow $188.77 billion by 2025, at a CAGR of 7.2% from 2018 to 2025: Allied Market Research

Increase in demand for mineral and metal commodities, surge in mining related activities, rise in utilization of natural resource, and requirement for mineral fertilizers drive the global mining equipment market.

According to thereport published by Allied Market Research, the global mining equipment market would generate $188.77 billion by 2025, from $106.85 billion in 2017, growing at a CAGR of 7.2% from 2018 to 2025. The report provides an extensive analysis of drivers & opportunities, key investment pockets, key segments, top winning strategies, and market size & forecasts. The research is helpful source of guidance for market players, investors, and shareholders to gain insightful information and devise strategies for the future.

Increase in demand for mineral and metal commodities, surge in mining related activities, rise in utilization of natural resource, and requirement for mineral fertilizers drive the global mining equipment market. Contrarily, fluctuations in raw materials prices and strict government policies and regulations would restrain the growth in the industry. On the other hand, surge in demand for equipment that are technologically advanced and increase in construction activities related to railway tracks and roads in hill stations present new pathways in the industry.

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Surface mining equipment to maintain its dominating position throughout the forecast period
Surface mining equipment contributed for nearly one-third of the total share in 2017 and is estimated to maintain its dominating position during the forecast period, owing to considerable rise in mining activities taking place in developing nations. However, the mining drills and breakers segment would register the fastest growth rate with a CAGR of 9.1% from 2018 to 2025. This is due to large number of coal reserves in China. The report also discusses underground mining equipment, mineral processing equipment, crushing, pulverizing, & screening equipment, and others.

Metal mining to offer lucrative opportunities
Metal mining accounted for the major market share in 2017, holding nearly two-fifths of the total industry share, and is expected to continue its dominance by 2025. This segment would also grow at the fastest rate, registering a CAGR of 9.1% during the forecast period, 2018–2025. This segment would offer lucrative opportunities, owing to increase in demand from developing economies for premium metals such as platinum, diamond, and titanium. The research also analyzes coal mining and mineral mining.

Asia-Pacific to lead in terms of revenue by 2025
Asia-Pacific accounted for nearly two-thirds of the total share in 2017 and is estimated to lead in terms of revenue during the forecast period. This is due to surge in demand for minerals and different metals such as gold, silver, diamond, and platinum in the region. However, Europe would grow at the fastest rate with a CAGR of 10.00% through 2025, owing to rise in investments in the automated equipment and technologically advanced infrastructure.

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Frontrunners of the market
Leading market players discussed in the report include AB Volvo, Caterpillar Inc., Deere & Company, Doosan Corporation, Epiroc AB, Hitachi, Ltd., Komatsu Ltd., Liebherr-International AG, Metso Corporation, and Sandvik AB.

Source: industrytoday

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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