NEW YORK, Jan. 12, 2017 /PRNewswire/ -- Trends, opportunities and forecast in this market to 2021 by product (surface mining equipment, underground mining machinery, drills and breakers, crushing, pulverizing, screening equipment, mineral processing machinery, and parts and attachment), application (metal, mineral, and coal), by region (North America, Europe, Asia Pacific, Rest of the World)
The future of the global mining equipment industry looks good with opportunities in the surface and underground mining segment. The global mining equipment industry is expected to reach an estimated $80.8 billion by 2021, and it is forecast to grow at a CAGR of 2.3% from 2016 to 2021. The major drivers of growth for this industry are increasing coal and metal exploration and growth in manufacturing activities.
Emerging trends which have a direct impact on the dynamics of the industry include the development of underground automation systems, the introduction of automatic power crushers and multi-functional excavators, the use of hybrid electric motors, rail-veyor technology for bulk material haulage solutions.
A total of 113 figures / charts and 41 tables are provided in this 163-page report to help in your business decisions. To learn the scope of, benefits, companies researched and other details of this report, ask for the report brochure.
The study includes a forecast for the global mining equipment industry by application type and region as follows:
By product type [$ billion from 2010 to 2021]:
- Underground mining machinery
- Surface mining equipment
- Drills and Breaker
- Crushing, Pulverizing, Screening equipment
- Mineral processing machinery
- Parts and attachment
By application [$ billion from 2010 to 2021]:
By region [$ billion from 2010 to 2021]:
- North America
- Asia Pacific
- Rest of the World
Caterpillar Inc., Hitachi Construction Machinery Co., Komatsu ltd, Joy Global Inc., and Atlas Copco are the major mining equipment manufacturers in the global mining equipment industry. Some companies are also pursuing mergers and acquisitions as strategic initiatives for driving growth.
On the basis of its comprehensive research, Lucintel forecasts that the crushing, pulverizing, screening equipment segment is expected to show above average growth during the forecast period of 2016 to 2021 due to resource exploration and increasing mining activity.
Within the global mining equipment industry, the surface mining equipment segment is expected to remain the largest market. The shift of mining operations to geographical terrain is the major factor that would spur growth for this segment over the forecast period. Surface mining is more prevalent, due to increasing adoption of mining techniques like strip mining and open pit mining.
APAC is expected to remain the largest market due to increasing coal and metal exploration activities for power generation and rising metal consumption due to large scale infrastructure development.
This report addresses the following key questions:
Q.1. What are some of the most promising, high-growth opportunities for the mining equipment industry by product (surface mining equipment, underground mining machinery, drills and breakers, crushing, pulverizing, screening equipment, mineral processing machinery, and parts and attachment), application (metal, mineral, and coal) and region (North America, Europe, APAC, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are emerging trends in this market and reasons behind them?
Q.7. What are some changing customer demands of in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are being taken by key players for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M & A activity has occurred in the last 5 years.
Lucintel has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in this market
- Detailed secondary research from competitors' financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of Lucintel's professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted in the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts in the market. Some of the raw material suppliers in global mining equipment industry are NSG Group, Saint Gobain, Corning Inc. and others. Some of the mining equipment manufacturers in this market are Caterpillar Inc., Joy Global Inc., Sandvik, The Timken Company, and others.
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