World Mining Equipment Industry Worth $135 Billion by 2017 Says a New Research Report at RnRMarketResearch.com
Dallas, TX (PRWEB) January 14, 2014 -- World demand to rise 8.6% annually through 2017:
Despite some short term weakness, the worldwide mining machinery market is forecast to expand 8.6 percent per year through 2017 to $135 billion, spurred by voracious demand for mined materials in China, India, and several other developing nations as industrial output increases. Global patterns of investment in mining capacity will be determined in large part by these industrializing countries, as resource companies look to capitalize on new sales opportunities. Rapid gains in mining equipment demand will occur in large developing markets such as Brazil, China, and India, with China being the largest purchaser by a wide margin. Additionally, machinery demand will expand in other nations with large deposits of industrial materials, including Australia, Chile, Indonesia, and Peru.
Complete report is available at http://www.rnrmarketresearch.com/world-mining-equipment-to-2017-market-report.html.
Asia/Pacific region to see greatest sales growth
The large Asia/Pacific market is expected to post the greatest sales growth through 2017, fueled by substantial investments in new mine production capacity in several nations. Strong gains will also be recorded in Central and South America, as mining companies look to develop the region’s sizable deposits of bauxite, copper, and iron ore. For example, this region is the largest producer of copper by a wide margin, and the dissipation of oversupply issues that existed in 2012 and 2013 will allow copper prices to recover and boost associated mining equipment demand. The Africa/Mideast region will post the next strongest market advances, followed by Eastern Europe, Western Europe, and North America. In developed areas, a recovery in construction spending and manufacturing output will boost demand for nearly all types of mined materials, though more emphasis on environmentally friendly sources of electricity will dampen thermal coal output.
Key metals mining market to rise at the most rapid pace
While metals mining accounts for a lesser share of mine output than nonmetallic minerals and coal in volume terms, this application represents the largest segment of the global mining machinery market due to the large amount of material that typically must be removed per ton of metal produced. This slice of the market will also rise at the fastest pace through 2017, stimulated by steel and aluminum production. An expansion in construction spending and agricultural output as world population continues to grow will boost consumption of construction aggregates and fertilizer minerals like phosphate rock, as well as sales of related equipment. Growth in primary metals production and rising global energy demand will spur growth in coal mining machinery sales, as will ongoing efforts to mechanize coal mining operations in China. However, a shift away from coal as an electricity source in developed countries will restrain overall demand advances.
Drills & breakers will be fastest growing products
Through 2017, demand for drills and breakers will climb at the most rapid pace of any product segment, as these units are used almost universally across all mining operations, especially during the exploration phase of a project. Additionally, the growing use of in situ mining techniques, where these products are a primary type of equipment employed, will further increase sales. Like drills and breakers, crushing, pulverizing, and screening equipment is used in almost every kind of mining operation, and continued gains in world mining output will result in strong sales advances for these products.
Company Profiles
Profiles for over 40 industry participants worldwide such as Atlas Copco, Caterpillar, Hitachi, Joy Global, Metso, Liebherr-International, Komatsu and Sandvik
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Priyank Tiwari, RnR Market Research, http://www.rnrmarketresearch.com/, +1 (888) 391-5441, [email protected]
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