London, 24 September 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global Mining Truck Market 2014-2018, which is expected to grow at a CAGR of 4.61 percent during the period 2013-2018.
The Global Mining market focuses on performance and efficiency, and this has increased the demand for advanced mining equipment such as mining trucks and dozers. This rise in demand for advanced technology has led to original equipment manufacturers across the world working on developing mining trucks that offer better fuel-efficiency, high-performance hauling, enhanced safety, and improved overall efficiency.
“The rental business of mining equipment is on the rise in the global market as it provides cost benefits to companies,” says Faisal Ghaus, Vice President of TechNavio.
“Owing to the high cost of ownership of mining trucks and other mining equipment, many organizations and SMEs in the Mining industry prefer to use equipment on a rental basis.”
Key Market Drivers
- High Margin Aftermarket
- Rise in Demand for Advanced Technology
- Increased Contribution to Economy
- Rise in Mining Activities
Key Market Trends
- Growth of Equipment Rental Business
- Enhanced R&D Investment
- Provision of Attractive Incentives
- Attractive Financing Option0073
Key Market Vendors
- Caterpillar Inc.
- Hitachi Construction Machinery Co.
- Komatsu Ltd.
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%3E%C2%A0%3C/p%3E%3Cp%3EIf%20you%20are%20in…
