Worldwide market for Mining Equipment is estimated at US$100 billion in 2016 and forecast to be US$107.3 billion in 2017 and is likely to grow at a CAGR of 7.9% between 2017 and 2022, and is projected to cross US$150 billion mark by 2022.
Surface Mining Machinery is estimated to account for the largest share with US$42 billion in 2017, of the global mining equipment market, while Parts & Attachments and Underground Mining Machinery to follow.
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 and Middle East & Africa.
Demand for mining equipment has a direct correlation with the level of mining activity in any region, and with an increase in mining activities on a worldwide basis, the positive effect on equipment used in mining over the coming years would be quite evident. Regions in Asia-Pacific, such as China, Australia and India are reporting a rise in mining activities, with proposed iron ore extraction projects in Russia, Brazil and Africa also expected to bolster the market for mining equipment in these regions.
The major categories of Mining Equipment covered in the report include Crushing, Pulverizing & Screening Equipment, Drills & Breakers, Mineral Processing Machinery, Surface Mining Machinery, Underground Mining Machinery and Parts & Attachments. Mining sectors explored in this report include Coal Mining, Metal Mining and Mineral Mining.
The report analyzes the global market in each region for aforementioned key country by equipment category and mining sector while exploring the major market players.
Key Topics Covered:
Part A: Global Market Perspective
2. Key Market Trends
3. Key Global Players
4. Key Business Trends
5. Global Market Perspective
Part B: Regional Market Perspective
Regional Market Overview
1. North America
4. Asia-Pacific (Excluding China)
5. Latin America
6. Middle East and Africa
Part C: Guide To The Industry
Part D: Annexure
- AB Volvo
- Atlas Copco AB
- CNH Industrial N.V
- Caterpillar, Inc.
- Hitachi Construction Machinery Co., Ltd.
- Hyundai Heavy Industries Co., Ltd
- JLG Industries, Inc.
- John Dheere
- Kleemann GmbH
- Kobelco Construction Machinery Co., Ltd
- Komatsu Limited
- Liebherr-International AG
- Manitowoc Crane Group (UK) Ltd
- Metso Corporation
- Sany Heavy Industry Company Limited
- Terex Corporation
- Wirtgen Group Holding GmbH
- Xuzhou Construction Machinery Group Co., Ltd. (XCMG)
- Zoomlion Heavy Industry Science & Technology Development Co. Ltd
For more information about this report visit http://www.researchandmarkets.com/research/zl32p5/mining_equipment
Laura Wood, Senior Manager
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/global-150-billion-mining-equipment-market-overview-2016-2017--forecasts-to-2022-surface-mining-machinery-is-estimated-to-account-for-the-largest-share-with-us42---research-and-markets-300391246.html
SOURCE Research and Markets