Growth in Global Mining

The future of the global mining equipment industry looks good, with opportunities in the surface and underground mining segment. The global mining equipment industry is expected to reach an estimated $80.8 billion by 2021, and it is forecast to grow at a CAGR (compound annual growth rate) of 2.3% from 2016 to 2021. The major drivers of growth for this industry are increasing coal and metal exploration and growth in manufacturing activities.

Emerging trends, which have a direct impact on the dynamics of the industry, include the development of underground automation systems, the introduction of automatic power crushers and multi-functional excavators, the use of hybrid electric motors, and rail-veyor technology for bulk material haulage solutions. Rail-veyor is a remote controlled, electrically powered light-rail haulage solution for surface and underground applications in the mining and aggregate industries that combines the flexibility of truck hauling with the energy efficiency of conveyors and rail lines.

The crushing, pulverizing, screening equipment segment is expected to show above average growth during the forecast period of 2016 to 2021, due to resource exploration and increasing mining activity. Within the global mining equipment industry, the surface mining equipment segment is expected to remain the largest market.

The shift of mining operations to geographical terrain is the major factor that would spur growth for this segment during the forecast period. Surface mining is more prevalent, due to increasing adoption of mining techniques like strip mining and open pit mining.

APAC (Asia Pacific) is expected to remain the largest market due to increasing coal and metal exploration activities for power generation and rising metal consumption coming as a result of large scale infrastructure development. The global mining equipment industry will continue to flourish and help the other markets to develop.

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