Mining Equipment Market is Expected to Reach USD 117.0 Billion by 2018: Transparency Market Research

According to a new market report published by Transparency Market Research "Mining Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018," the global mining equipment market is expected to reach USD 117.0 billion by 2018 from USD 71.5 billion in 2012 at a CAGR of 8.5% from 2012 to 2018. The Asia Pacific market was in a commanding position having contributed more than 60% of the entire mining equipment market share in 2012.

The global mining equipment market is primarily driven by factors such as increasing mining activities in developing countries and the rising demand for technically advanced solutions across the globe. The large iron ore projects planned in Brazil, Russia, Australia, Africa and other regions are expected to drive the mining equipment industry in coming years. Mining activities in oil refineries, coal mining and other underground mining activities taking place in the emerging markets, especially Latin America and Asia Pacific are leading to huge demand for mining equipment in these regions.

Request Sample: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=811

Uptick in Mining Machinery Sales to Bolster Mining Equipment Market in Asia Pacific

There has been a high demand for mining equipment in Asia Pacific, which is expected to be the dominant region in the forecast period, followed by Rest of the World. APAC is projected to account for a 66% share in the global market by the end of 2018, thanks to the significant rise in mining machinery sales and mine production across India, China, and Indonesia.

On the basis of application, the metal mining segment is projected to lead the global mining equipment market, reaching a value of US$49.39 bn by the end of 2018. The rising demand for precious metals, including platinum, bauxite, silver, and gold is the primary reason driving the metal mining segment. Additionally, the growing demand for commodities globally is indirectly boosting the demand for metal mining worldwide.

Growing Demand for Mineral Fertilizers Positively Impacting Mining Equipment Sales

A substantial rise in mining activities, especially in several emerging nation, such as Australia, China, and India is augmenting the growth of the global mining equipment market, states a TMR analyst. The rising consumption of mineral fertilizers is also estimated to fuel the growth of the global market in the near future. Mineral fertilizers offer several benefits in agriculture, such as crop protection and enhancement in productivity. These fertilizers are obtained primarily from the processing of ores acquired from mines. Technological innovations and the advent of new equipment varieties are expected to accelerate the growth of the global mining equipment market throughout the forecast period.

Browse TOC of This Report: http://www.transparencymarketresearch.com/report-toc/811

The surface mining equipment market holds the largest share and accounts for nearly 37% of the entire mining equipment market owing to the rising demand for metal and mineral commodities. The mining drills and breakers market is expected to be the fastest growing market in the coming years owing to their increasing demand from developing countries. These equipments are imperative in most operations, where breaking through the ground and subsurface materials are necessary. The market for underground mining equipment holds the second largest share in the global mining equipment market and is expected to grow at a moderate growth rate from 2012 to 2018. Underground mining equipment includes hydraulic shovels, cable shovels, continuous mining machines, long wall mining machines and drag lines.

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

90 State Street, Suite 700

Albany, NY 12207

Tel: +1-518-618-1030

USA - Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com

Website: http://www.transparencymarketresearch.com

This release was published on openPR.