Mining Equipment Market by Type and Application - Global Industry Analysis and Forecast To 2022

In 2012, the Global Mining Equipment Market was evaluated around USD 79.35 billion and is expected to reach approximately USD 173.21 billion by 2022 while registering itself at a compound annual growth rate (CAGR) of 8.12% over the forecast period. Technological advancements like data transmission via real-time monitoring of activities and cloud networks have ensued in the growing utilization of smart mining solutions extending significant benefits across traditional mechanical products.

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Report Overview:
In 2015, the metal mining application seized the leading revenue of around USD 27 billion, which can be assigned to the rising exploration and resource activities. Furthermore, the growing requirement for base metals, like copper, gold, silver, platinum, and others, is anticipated to bestow to the growth of market revenue. The requirement for gold has supported owing to its financial, emotional, and cultural value and is anticipated to increase further in the emerging countries.

In 2015, the Asia Pacific mining equipment industry reported for around 60% of the market share, due to the existence of robust countries such as India, China, and Australia. Organizations in India are outsourcing ventures to mining service organizations with the segments becoming more prepared in the nation. The unexplored drilling and exploration potential in the country is projected to supply large market growth opportunities over the projected period. Furthermore, the opportunities for mineral exploration, infrastructure, and resources are escalating in the Middle East Asia region with the advent of fresh laws looking for funds.

Major Market Players:
Few of the major market players are Joy Global Inc., Komatsu Ltd., Atlas Copco, Caterpillar Inc., Metso Corporation, and Sandvik AB.

The global mining equipment market is segmented as follows –

By Product:
Mining drills & breakers
Crushing, pulverizing & screening equipment
Mineral processing machinery
Surface mining equipment
Underground mining machinery
Others

By Application:
Metal mining
Mineral mining
Coal mining

Table of Contents:

1.Introduction
2.Executive Summary
3.Market Overview
3.1.Introduction
3.1.1.Market Definition
3.1.2.Market Segmentation
3.2.Market Dynamics
3.2.1.Drivers
3.2.1.1.Decreasing Ore Grades
3.2.1.2.Technological Innovation Driving the Heavy Equipment Demand
3.2.1.3.Technological Advancements in the Mining Industry
3.2.2.Restraints
3.2.2.1.High Machinery Cost
3.2.3.Opportunities
3.2.3.1.Emerging Markets to Offer Lucrative Growth Opportunities
Continued..

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This release was published on openPR.