Irving, Texas (PRWEB) March 11, 2013
The global mining equipment industry is expected to witness steady growth to reach an estimated $104 billion in 2017 with a CAGR of 7.5% over the next five years. The industry is primarily driven by strong demand for the output of various types of mining, as well as high commodity prices led by economic growth and technological development.
Lucintel, a leading global management consulting and market research firm, has conducted a competitive analysis on the industry and presents its findings in “Global Mining Equipment Industry 2012-2017: Trend, Profit, and Forecast Analysis.” The mining equipment industry comprises establishments primarily engaged in manufacturing of both underground and surface mining equipment.
The industry is consolidated. The Asia Pacific (APAC) region dominates this industry and represents 55% of total industry size. Surface mining equipment is the industry’s major segment and contributes the majority of industry revenue. A combination of factors such as high demand for power generation, positive impact of mining on GDP, increasing demand for metal and mineral mining, and new technology in equipment affects market dynamics significantly.
Some of the key challenges for the mining equipment industry include changing climate conditions, increasing fuel prices, and capital constraints. Upticks in manufacturing and construction, and global economic activity leading to higher demand for coal used in heating and electricity-generating applications are likely to drive the market. Demand for mining equipment is expected to rise with an increase in mining output growth due to acceleration in primary metals manufacturing and to support industrial furnace and oven coal use.
This industry research reprot provides an overview of the global mining equipment industry, tracking two market segments of the industry in four geographic regions. Thus, eight segments of the global mining equipment industry are tracked. The report studies manufacturers of surface and underground mining equipment segment, providing a five-year annual trend analysis that highlights market size, profit, and cost structure for North America, Europe, APAC, and the Rest of the World regions. The report also provides a forecast, addressing market opportunities for five years for each region.
For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at helpdesk(at)lucintel(dot)com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight,growth challenges and cost efficiency. To learn more, visit http://www.lucintel.com.