Los Angeles, CA (PRWEB) December 20, 2011
With 45.6% of the world's coal output, China continues to provide strong demand for the Mining Equipment Manufacturing industry. In the near term, China's coal output volumes will continue to increase at a steady rate. In the five years to 2016, the Mining Equipment Manufacturing industry in China is expected to also grow at an average annual rate of 14.3% to US$80.57 billion, according to IBISWorld, America’s largest publisher of industry research.
The Mining Equipment Manufacturing industry in China mainly provides mine excavation equipment, underground transportation equipment and mineral washing and screening equipment to coal mines, nonferrous metal mines, ferrous metal mines, non-metallic mines and other mines.
The Mining Equipment Manufacturing industry in China has expanded rapidly in recent years. This performance has been due to very high domestic demand from China's coal and metal mining industries resulting from significant increases in mining capacity. Although China imports large volumes of coal, iron ore, bauxite and other resources, the government has authorized greater mining levels in recent years, which has contributed to growth in this industry.
As China's economy is heavily reliant on manufacturing and the energy sector, demand for natural resources drives the need for mining equipment. The industry's total production volume output is expected to increase from about 355,500 tons in 1998 to a forecast 5.06 million tons in 2011.
Industry revenue is expected to increase by 25% in 2011 to US$41.39 billion. Domestic demand is expected to total US$39.89 billion in 2011, up 21.2% from the previous year.
With the development of China's coal mining industry, innovation in coal production technology, enhanced mechanization of coal mining, and product generation replacement, demand for this industry's mining equipment will be strong over the next five years. IBISWorld expects that, in the five years to 2016, total revenue of Mining Equipment Manufacturing industry in China will increase at an annualized rate of 14.3% to US$80.57 billion.
For more information, including profit levels, market shares, product segmentation and more, download IBISWorld’s report on the Mining Equipment Manufacturing industry in China.
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Mining Equipment Manufacturing in China -- Key Report Topics
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on 200 Chinese industries. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.cn or call 1-800-330-3772.
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