San Francisco, 1
November 2018: The global miningequipment market size
is expected to reach USD 128.39 billion by 2025, according to a new report by
Grand View Research, Inc., registering a CAGR of 6.5% during the forecast
period. Rising drilling and exploration activities globally are expected to
provide an impetus to industry growth.
Increasing demand for resources in the
mining sector has encouraged players in the sector to adopt technologies and
procedures that streamline every step of the exploration process. This need has
enabled mining companies to roll out automated equipment including drillers,
excavators, and trucks to boost efficiency while reducing need for human
intervention.
Increasing product launches and focus on
automation is expected to offer new growth avenues in the mining sector. These
new product launches and automation technologies have the potential to
transform daily operations and optimize returns on mining assets. Furthermore,
favorable government initiatives such as fiscal incentives and coal mining
policies are further aiding industry growth.
Decreasing ore grades and exhaustion of
minerals are imposing a threat to mining companies, which has led to shifting
mining sites to more remote locations. These locations bring with them
technical complexities related to labor, energy consumption, and infrastructure,
which require efficient mining equipment, thereby driving market growth.
Increasing demand for iron ore, coal,
diamonds, and chromium in emerging countries is expected to provide strong
growth avenues for surface mining over the next few years. Burgeoning adoption
of this equipment facilitates selective mining operations by producing
high-quality materials and creating embankments and stable surfaces.
Additionally, there has been increasing
demand for underground mining equipment from the coal industry. Many countries
such as India, UAE, Brazil, and China have made substantial investments in coal
activities and oil and gas production satiate their energy requirements.
Surging infrastructure development activities are expected to supplement coal demand
in the Asia Pacific region, as it is one of the most crucial raw materials
required in the manufacturing of cement and steel.
Access Research Report
of Mining Equipment Market@ www.grandviewresearch.com/industry-analysis/mining-equipment-industry
Further key findings from the report suggest:
· The mineral processing machinery segment is
anticipated to gain substantial market share by 2025. It is a crucial process
that most ores have to go through post-mining to ensure a more concentrated
material
· The metal mining application segment is
expected to expand at a CAGR of 6.7% over the forecast period. Increased gold
exploration activities globally are expected to account for segment growth
· Revenue share of the North America market
is expected to surpass 9.6% by 2025. This growth can be attributed to
identification of new natural gas reserves in U.S.
· Key players in the industry include
Caterpillar Inc.; Komatsu Ltd.; Joy Global Inc.; Sandvik AB; Atlas Copco AB;
and Metso Corporation.
Browse more reports of this category by Grand View Research
at: www.grandviewresearch.com/industry/oil-and-gas-drilling-and-extraction-equipments
Grand View Research has segmented the
global mining equipment market report based on product, application, and
region:
Mining Equipment Product Outlook (Revenue,
USD Billion, 2014 - 2025)
·
Mining drills & breakers
·
Crushing, pulverizing, & screening
equipment
·
Mineral processing machinery
·
Surface mining equipment
·
Underground mining machinery
·
Others
Mining Equipment Application Outlook
(Revenue, USD Billion, 2014 - 2025)
·
Metal mining
·
Mineral mining
·
Coal mining
Mining Equipment Regional Outlook (Revenue,
USD Billion, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
U.K.
·
Asia Pacific
o
China
o
India
·
Rest of the Word (RoW)
Access Press Release of
Mining Equipment Market@ www.grandviewresearch.com/press-release/mining-equipment-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting services.
To help clients make informed business decisions, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries,
from technology to chemicals, materials and healthcare.
