- The key vendors in the Mining Equipment Market in the US 2015-2019 are Caterpillar Inc., Joy Global Inc. and Roberts and Schaefer Co.
London, 31 March 2015: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Mining Equipment Market in the US 2015-2019. One key trend upcoming in this market is the increased demand for energy-saving equipment. The Mining industry is one of the major end-users of energy. Coal, mineral, and metal mining require large amounts of energy. In addition, energy costs are expected to account for more than 10-15 percent of the total production costs. The overall market is expected to grow at a CAGR of 8.27 percent during the forecast period of 2015-2019.
Increased demand for power is expected to lead to more mining activities, which will have a positive impact on the market. Increased demand for coal and the shifting from old machinery to newer machinery to prevent downtime are expected to propel the growth of the market.
“The introduction of computer technology, remote control interfaces, satellite communications, and robotics has led to greater safety, sophistication, and productivity in mining,” says Faisal Ghaus, Vice President of Technavio Research.
“Mineral processing, smelting, and refining operations are some of the factors resulting in the higher productivity rates of mining activities. Continuous focus on the enhancement of existing technologies is a major trend being observed in the mining industry in the US.”
To define the market conditions 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%…
