Thursday, June 23, 2016
Mining Equipment Market : Global Industry Information, Market Needs, Industry size and Forecasts to 2022
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As stated in a recently published information by Credence
Research Inc “Mining Equipment Market – Growth, Share, Opportunities,
Competitive Analysis, and Forecast 2015 – 2022,” the growth of mining
equipment market is strongly depends on economic conditions, demand for
minerals, and number of mining projects.
The
global mining equipment market is expected to see a significant growth though
the forecast period 2015 – 2022 with improving economic conditions and rising
mining activities across the world. In addition, stringent mandatory
regulations are forcing mining companies to replace their outdated to improve
mining process and labors’ safety. Advanced mining equipment reduces need of
manpower and improves the efficiency of mining process which is influencing the
demand for these equipments.
Browse Here For Full Report With ToC : http://www.credenceresearch.com/report/mining-equipment-market
Based on
product type, surface mining equipment accounted for the largest revenue share
in 2015. The demand for surface mining equipment is expected to grow steadily
with rising demand for precious mines. We have considered bulldozers, loaders,
dumping trucks, service trucks and other maintenance equipment to estimate the
market size surface mining equipment. Underground equipments are expected to
see the fastest growth compared to other product categories. This growth is
primarily attributed to rising adoption of energy efficient mining equipment
across the world due stringent energy efficiency regulations.
We have
classified the global mining equipment market into coal, metal and mineral
based on its end-use application segments. Metal
mining is the largest application segment for mining equipment and expected
to maintain its dominating position with rising demand precious metals such as
gold, platinum and silver. In addition, complex and large scale operation are
forcing metal mining companies to deploy advanced mining equipment to improve
operating efficiency and reduce operating costs. Coal is major source of
electricity and heat generation. The demand for mining equipment is rising
steadily with improving economic conditions and rising demand for electricity
across the globe.
Asia
Pacific is the largest regional market in the global mining equipment
market. Asia Pacific is expected to maintain its dominating positions
throughout the forecast period with rising demand from China and India. Asia
Pacific also expected to see the fastest growth for mining equipment during the
forecast period. North America and Europe are expected to grow at a steady rate
with improving output of metal mining sector.
The
global mining equipment industry is concentrated with large number of
recognized multinational players. Some major players in the global mining
equipment industry include Caterpillar Inc., Hitachi Construction Machinery,
Komatsu Limited, Atlas Copco AB and Sandvik AB. Global players are facing
competition from low cost Chinese manufacturers such as China National Coal
Mining Equipment, Northern Heavy Industries Group and Zhengzhou Coal Mining
Machinery Group.
About Us:
Credence
Research is a worldwide market research and counseling firm that serves driving
organizations, governments, non legislative associations, and not-for-benefits.
We offer our customers some assistance with making enduring enhancements to
their execution and understand their most imperative objectives. Over almost a
century, we’ve manufactured a firm extraordinarily prepared to this task.
Media Contact
Name: Chris Smith (Global Sales Manager)
Address: 105
N 1st ST #429, SAN JOSE, CA 95103 US
Ph: 1-800-361-8290
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