London, 13 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the global mining equipment market 2015-2019, which is expected to grow at a CAGR of 7.28% from 2015-2019.
Worldwide growth in infrastructure for energy supply, food and water supply, shelter, transportation, manufacturing, communication, sewage treatment, health, and education is also generating demand for metals and minerals. Also, the economic growth of emerging countries in APAC such as China and India, coupled with growing population and urbanization, has led to increased demand for metals and minerals.
“The introduction of computer technology, remote control interfaces, satellite communications, and robotics led to greater safety, sophistication, and productivity in mining,” says Faisal Ghaus, Vice President of Technavio.
“Mineral processing, smelting, and refining operations have enhanced productivity, as well. Continuous focus on the development of existing technologies is an especially significant trend in the US mining industry.”
Key Market Drivers
- Growth in Developing Countries
- Demand from Coal Mining Industry
- Rising Mining Activities in the US
Key Market Trends
- Increased Demand for Energy-saving Equipment
- Technological Advances in Extraction
- Volatile Commodity Prices
Key Market Vendors
- Atlas Copco AB
- Caterpillar Inc.
- Joy Global Inc.
- Komatsu Ltd.
- Sandvik Mining
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
