San Francisco, California (PRWEB) March 12, 2014
The global market for mining equipment is expected to reach USD 147.69 billion by 2020, according to a new study by GrandView Research, Inc. Growth in mining activities such as drilling and earth moving is expected to boost demand for shredders, loaders and crushers among other mining equipment. Increasing demand for fertilizer minerals is also expected to favorably impact market demand over the forecast period.
The report “Mining Equipment Market Analysis And Segment Forecasts To 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/mining-equipment-industry
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Mining operations rely on major mineral production regions such as North America, Australia, South Africa, etc. Water scarcity and dry spells in these regions has resulted in growing demand for effective mining solutions. Technologically advanced mining solutions are also estimated to witness growing adoption due to the need for robust hardware in mining locations. However, mining equipments produce harmful gases including carbon monoxide and sulfur oxides, which adversely affect the environment. This is expected to be curbed by the development of hybridization applications in the coming years.
Further Key findings from the study suggest:
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For the purpose of this study, GrandView Research has segmented the global mining equipment market on the basis of product, application and region:
Browse all Drilling & Extraction Equipments Market Research Reports @ http://www.grandviewresearch.com/industry/oil-and-gas-drilling-and-extraction-equipments
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