Latin America Purchasing Trends and Intentions for Mining Equipment Parts and Consumables Market 2015 - 2019

Deerfield Beach, FL -- (SBWire) -- 01/13/2016 --Synopsis

Overall trends in the data revealed : Latin American respondents expect stability with their expenditure. Just over half of respondents expect spending to be flat, for instance the largest share with 54% for 'maintenance services', down to 50% for 'equipment and components'.

Outright purchase is the most common purchasing method. Some 47% of respondents nominated outright purchase as the method they use for heavy mining equipment. This was the dominant method of procurement, with all other methods being used by fewer than 22% of respondents in each case.

53% of respondents identified that their biggest challenge when sourcing products were factors related to supplier attributes and capabilities, such as the availability of spare parts, on-time delivery, after-sales services and maintenance, and receiving technical support.

In Latin America, the majority of decisions are favored to be made at the mine site, while decisions made centralized within the country was a close second in preference.

An average of 34% of respondents expected more centralization of purchasing decisions over the next two years.

Some 53% of respondents indicated they had a preferred global supply agreement for plant and heavy equipment, and when responses were broken down by type of purchase covered by the preferred supplier, trucks dominated with 44%.

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Summary

- Future trends in expenditure and expectations for increased or decreased spend in four areas: plant and heavy equipment, equipment parts and components, explosives materials, and maintenance services

- Current methods for acquiring equipment, with a review of outright purchasing, rental, leasing and other types of financing arrangement

- An analysis of future changes to the number of supplier relationships, and whether respondents expect greater or fewer supplier relationships over the next 12 months

- Investigation into the biggest challenges facing buyers and decision makers in sourcing the right products

- Analysis of current decision making practices in Latin American mines

- Extent to which preferred supplier arrangements are in place and predictions for increased centralization of procurement

Scope

- This report provides a detailed analysis of purchasing methods and spending trends for Latin America mines across plant and heavy equipment, parts and components, explosives, blasting materials and chemicals, and maintenance services.

- Survey respondents came from 14 different countries including: Peru, Chile, Colombia, Brazil, Mexico, Venezuela, Dominican Republic and Bolivia. This included five different commodity groups and a range of surface and underground mining operations.

Reasons To Buy

- Compare the methods miners in Latin America use to acquire equipment, and how this is expected to change.

- Plan ahead based on general expectations within the Latin American mining industry for future expenditure, and how this varies by segment, such as mine type, commodity, company size and region.

- Understand how different customer segments in the Latin American mining industries Plan to rationalize or extend their supplier networks.

- Understand where decision making is made, be that at either the mine site or corporate head office.

- Identify the major challenges miners in Latin America face when sourcing equipment, and incorporate solutions to these in your sales, marketing and product strategies.

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Key Highlights

- Latin American respondents expect stability with their expenditure. Just over half of respondents expect spending to be flat, for instance the largest share with 54% for 'maintenance services', down to 50% for 'equipment and components.

- Outright purchase is the most common purchasing method. Some 47% of respondents nominated outright purchase as the method they use for heavy mining equipment. This was the dominant method of procurement, with all other methods being used by fewer than 27% of respondents in each case.

- 53% of respondents identified that their biggest challenge when sourcing products were factors related to supplier attributes and capabilities, such as the availability of spare parts, on-time delivery, after-sales services and maintenance, and receiving technical support.

- In Latin America, the majority of decisions are favored to be made at the mine site, while decisions made centralized within the country was a close second in preference.

- An average of 34% of respondents expected more centralization of purchasing decisions over the next two years.

- Some 53% of respondents indicated they had a preferred global supply agreement for plant and heavy equipment, and when responses were broken down by type of purchase covered by the preferred supplier, trucks dominated with 44%.

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