DUBLIN, May 11, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the Rental market 2016-2020" report to their offering.
The global mining equipment rental market to grow at a CAGR of 3.36% during the period 2016-2020.
Global Mining Equipment Rental Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Rental mining equipment accounts for a significant share in the global mining equipment market. The high cost of capital, overhead cost, and maintenance cost attached with the ownership of mining equipment have led end-users to rent mining equipment. The nature of a project and its duration are the key factors considered while purchasing or renting mining equipment. Generally, for a small-scale project scheduled for a short span, companies prefer to rent mining equipment as opposed to purchasing them.
Large-scale mining companies tend to focus on current projects rather than take risks and venture into new ones. This is a shielding strategy they adopt, wherein they go slow on new explorations, cut down expenditure, and run tighter operations to maximize the potential of current projects. Such strategies protect them from the impact of declining commodity prices, expensive operations, and increased energy bills. As a result, the profit margins of rental mining equipment companies have decreased, as many large players in the industry have lowered their investment in new projects.
According to the report, renting mining equipment is a cost-effective alternative to owning such equipment, especially for short duration projects. Higher financial flexibility, reduced maintenance cost, and low cost of ownership are the key advantages offered by rental mining equipment; therefore, they are highly beneficial for small-scale mining companies and contractors.
Further, the report states that many mining companies have deferred investments in new mining projects due to declining commodity prices. The prices of coal, aluminum, copper, and iron ore have been declining since 2011.
- Atlas Copco AB
- Caterpillar Inc.
- Hertz Equipment Rental Corporation
- Komatsu Ltd.
- Sunbelt Rentals Inc.
Other prominent vendors
- H&E Equipment Services
- Hewitt Rentals
- McDowell Equipment
- United Rentals
- United Mining Rentals
- SMS Rental
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by equipment type
Part 07: Market segmentation by application
Part 08: Geographical segmentation
Part 09: Market drivers
Part 10: Impact of drivers
Part 11: Market challenges
Part 12: Impact of drivers and challenges
Part 13: Market trends
Part 14: Vendor landscape
Part 15: Key vendor analysis
Part 16: Appendix
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SOURCE Research and Markets