Market Research Report
Mining Equipment Market Analysis By Product (Mining Drills & Breakers, Crushing, Pulverizing & Screening Equipment, Mineral Processing Machinery, Surface Mining Equipment), By Application, And Segment Forecasts, 2014 - 2025
|Published by||Grand View Research, Inc.||Product code||408919|
|Published||Content info||144 Pages
Delivery time: 1-2 business days
|Mining Equipment Market Analysis By Product (Mining Drills & Breakers, Crushing, Pulverizing & Screening Equipment, Mineral Processing Machinery, Surface Mining Equipment), By Application, And Segment Forecasts, 2014 - 2025|
|Published: November 21, 2016||Content info: 144 Pages||
The global mining equipment market is expected to reach USD 128.39 billion by 2025, according to a new report by Grand View Research, Inc. The growing exploration and drilling activities on a global level are expected to be the key driving forces for the market over the next nine years.
The world economic growth underwent a swift deceleration in the wake of global recession, adversely affecting both emerging and developed economies.The overall mining industry has faced an economic slowdown in the last three years due to declining investments and weak demand from major geographies including Europe and North America.
The industry is expected to start its recovery in 2016 as new sites are expected to be opened up and equipment manufacturers are increasing their capital spending. Untapped regions of Africa, such as Congo and Zambia having substantial metal mines and Latin American countries such as Peru, Brazil, and Chile, are expected to trigger the recovery in the industry.
Mining companies have to cope with the decreasing ore grades and exhaustion of easily accessible mining sites, which has led to the shifting of mining sites to remote locations. These locations involve a higher degree of technical complexity related to infrastructure, labor, and energy consumption. Therefore, a highly efficient equipment is required to cater to this industry over the forecast period. According to FLSmidth, customers are currently puttinga strong focus on productivity and energy efficiency,which was earlier on capacity expansion.