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Mining Equipment Market – Global Industry Analysis Report, Share,
Size, Growth, Price Trends and Forecast 2016 – 2024
The report on “Mining Equipment Market Size By Product (Mining Drills &
Breakers, Crushing, Pulverizing & Screening Equipment, Mineral Processing
Machinery, Surface Mining Equipment, Underground Mining Machinery), By
Application (Metal Mining, Mineral Mining, Coal Mining), Industry Analysis
Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy,
Russia, China, India, Japan, Australia, Indonesia, Brazil, Saudi Arabia, UAE,
South Africa), Growth Potential, Price Trends, Competitive Market Share &
Forecast, 2016 – 2022” Global mining equipment market worth USD 69 billion in
2015, is projected to exhibit an annual growth rate of 4.7% over the period of 2016 to
Mining Equipment Market is witnessing a substantial surge prominently driven by the
escalating exploration and excavating activities across the globe. Major technological
innovations such as machine failure detection as well as real-time monitoring will
support the industry growth over the coming timeframe.
China Mining Equipment Market size, by application, 2013-2024 (USD Billion)
Mining equipment finds a wide set of applications in coal mining, mineral mining, and
metal mining. The metal mining application surpassed a revenue of USD 29 billion in
2015 and will record a growth rate of 5% over the coming seven years, driven by the
growing demand for metals such as gold. In addition, the surging need for coal across
the cement manufacturing, steel production, and electricity generation will positively
influence the coal mining sector notably, thereby driving the mining equipment industry
growth. The mineral mining application will also contribute significantly towards the
market growth over the coming timeframe.
In terms of product, mining equipment market is segmented as underground mining
machinery, crushing, mineral processing machinery, mining drills & breakers,
pulverizing & screening equipment, and surface mining equipment. Surface mining
equipment industry occupied 35% of the global market revenue in 2015 and is
anticipated to register an annual growth rate of 3.4% over the period of 2016 to 2024.
The growing mining activities across the developing regions along with the surging
need for technologically advanced products are the key attributing factors driving the
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