Industry Experts - Market Research Reports, Industry Analysis, Custom Research

Industry Experts, Inc., published the latest version of its report on Mining Equipment Market . This new global market research report reveals that the demand for mining equipment is estimated at US$154 billion in 2024 and projected to reach US$230 billion by 2030 at a 2024-2030 CAGR of 6.9%. Some of the factors instrumental in driving demand for Mining Equipment include emerging economies engaging in increasing mining operations, technological developments and a growing global need for metals and minerals, apart from coal. The problem in accessing resource deposits and decline in ore grades has led to a rise in the demand for high-performance, specialized mining equipment, which can overcome these challenges. Aging machinery needs to be replaced with more efficient and eco-friendly equipment, further contributing to market demand. Automation and remote monitoring are being increasingly adopted for mining, owing to which advanced equipment is much sought after. The major ...

Industry Experts released the global market report titled ‘ Mining Equipment – A Global Market Overview ’. This new report reveals that Metal and Mineral mining accounts for slightly over 70% consumption of the global mining equipment in 2016 while Coal mining occupies the remaining share. China is estimated to the largest market in 2016 and projected to be the fastest growing market during the 2017-2022 analysis period. Globally, the market for mining machinery and equipment is being propelled by the prospect of an increase in the production of metals, such as iron ore and copper, which is being steered by new expansions and projects. While the initial years of this decade witnessed a decline in sales of mining equipment, the global market for the same has been maintaining sustained growth that is being stimulated by an insatiable demand for mineable commodities, production of primary metals and mining materials emanating from the developing regions of Asia-Pacific, South America an...