Surface Mining Equipment Market Is Booming Worldwide | Top key Players Like BHP Billiton, Vale S.A, Rio Tinto, Anglo American, Barrick Gold

Decresearch has announced the launch of Surface Mining Equipment market, a comprehensive study enumerating the latest price trends and pivotal drivers rendering a positive impact on the industry landscape. Further, the report is inclusive of the competitive terrain of this vertical in addition to the market share analysis and the contribution of the prominent contenders toward the overall industry.

Various fragmentations within the surface mining equipment market can be categorized as strip mining, open-pit mining, highwall mining, mountaintop removal, dredging and coal mining. As per the technical analysis, the coal mining sector has witnessed growth, as less manual labor is required producing utmost coal generation. The strip-mining sector has the probability to grow USD $12 billion in coming few years which is an approximate increase of CAGR 3.5%.

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The mineral analysis states that the metallic ore industry will witness an increase in the demand of gold, silver, zinc and copper. The surface mining equipment market has already demonstrated an increase in the market share of 46% and is expected to mark a figure of USD $13 billion in the near future. Non-metallic ore industry will grown by 30% with the boom in demand of salts and phosphate which would value at USD $9 billion during the expected time frame. Hi-tech equipment innovations and adding requirement for minerals and gas, the industry is certainly growing, resulting in increase of discoveries and investments in the market.

Surface mining equipment market competitors:
o BHP Billiton
o Vale S.A
o Rio Tinto
o Anglo American
o Freeport-McMoran
o Barrick Gold
o Strategic Benchmarking
o Teck
o Goldcorp

Growth Factors Surface Mining Equipment Market
o Economically efficient and safe
o Increases efficiency
o Escalating demand for resources

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The Asia Pacific surface mining industry is likely to grow with the increasing demand in the countries like China and India. This regional market is at valued up to USD $8 billion currently and might reach the market valued up to USD $11 billion by 2022, mainly China regional market growing significantly with the demand of metallic ore and coal in the mining industry. With the rigid government regulations in the United States and Europe, these countries are expected to lose some market share in the coming years as per the industry forecast. The limitations on import duties and taxes are likely to affect the market pessimistically due to the security apprehensions.

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This release was published on openPR.