London, UK -- (SBWire) -- 08/22/2018 --Brandessence Market Research has published a new report titled "Mining Equipment: Global Industry overview, Comprehensive Analysis, Size, Share, Growth, Trends and Forecast, 2018 - 2024".
The lead analyst of the report said: "Increasing demand for metal and mineral is anticipated to surge the growth of mining equipment market. Besides, introduction of various innovative product by the leading industry participants coupled with advanced technologies are also expected to fuel the growth of mining equipment market. Recently, in August 2018, Bharat Earth Movers Limited (BEML), a Public Sector Company under the Ministry of Defense and a premier manufacturer of mining and construction equipment, has introduced an indigenously developed India's first 150T Electric Drive Rear Dump Truck."
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Increasing demand for metal and mineral is anticipated to surge the growth of mining equipment market.
The surging demand of metal and mineral such as aluminum, copper, lead, lithium, manganese, nickel, silver, steel, and zinc and rare earth minerals including indium, molybdenum, and neodymium among the nations of the globe has propelled the market players to increase their R&D investments and innovation in mining equipment. The demand of metal is increasing in many industries and in addition there is no direct substitute available for metal. For instance, mobile phone and electric storage batteries. mobile phone contains metal elements like copper and tin while aluminum, cobalt, iron, lead, lithium, manganese, and nickel are the metals contain in electric storage battery. The major role of mineral and metals for a low carbon future is also expected to increase the demand of mineral and metals.
China is main driving force for global mining equipment market during the forecast period 2018-2024.
Mining industry is an important growth engine for China's economy. China is growing rapidly in the mining equipment market due to high direct invest in local mining industry. In addition, China is one of the major sources of commodities such as iron ore and bauxite. China and India have experienced major growth in coal output in recently. The policy and measures initiated to revive the mining sector are a positive sign. China is one of the largest mineral production countries in the world, and the production of major minerals keep growing. By the end of 2017, the accumulated production of minerals reached nearly more than 200 billion tons.
This global Mining Equipment market report covers top players like,
Caterpillar Inc., Metso and Liebherr Group., Joy Global Inc., Doosan Group, Komatsu Ltd., Atlas Copco, Sandvik, Hitachi Co. Ltd., AB Volvo and others.
Global Mining Equipment Market: by Product Type Analysis
- Mineral Processing
- Surface Mining
- Underground Mining
- Mining Drills & Breakers
- Crushing
- Pulverizing
- Screening
- Others
Global Mining Equipment Market: by Application Type Analysis
- Metal
- Mineral
- Coal Mining
Global Mining Equipment Market: by Regional & Country Analysis
- North America
o U.S.
o Canada
- Europe
o UK
o France
o Germany
o Italy
- Asia Pacific
o China
o Japan
o India
o Southeast Asia
- Latin America
o Brazil
o Mexico
- The Middle East and Africa
o GCC
o Africa
o Rest of Middle East and Africa
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Get Related Report:
Global Construction Equipment Market 2018-2024: https://www.brandessenceresearch.com/heavy-industry/global-construction-equipment-market-2018-2024/
Mining Equipment Market 2018- Caterpillar Inc, Metso and Liebherr Group, Joy Global Inc and Doosan Group
Brandessence Market Research has published a new report titled “Mining Equipment Market 2018 - 2024”. The report indicates that the Global Mining Equipment Market will see 6.8% CAGR during the forecast period.