Albany, NY -- (SBWIRE) -- 09/26/2017 -- Mining involves extraction of valuable minerals from the earths crust. These mineral products have an economic value as they are used in many industries to manufacture end-products. These industries include automobile, manufacturing, energy, and construction. Ores recovered by mining include coal, oil shale, metals, gemstones, rock salt, and clay. The life cycle of a mining process consists of key steps that include exploration, production, closure, and post-mining. The major parts of mining process are exploration, mining, and processing.
The global mechanical drives market for mining industry to grow at a CAGR of 2.99% during the period 2017-2021. The report covers the present scenario and the growth prospects of the global mechanical drives market for mining industry for 2017-2021. To calculate the market size, the report considers the demand for mechanical drive products from the mining industry.
The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA
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Technavio's report, Global Mechanical Drives Market for Mining Industry 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
- ABB
- Nidec
- Siemens
- SKF
Market driver
- Global urbanization and industrialization
- For a full, detailed list, view our report
Market challenge
- Decline in mining-related investments
- For a full, detailed list, view our report
Market trend
- Shifting of mining activities to emerging economies
- For a full, detailed list, view our report
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Key questions answered in this report
- What will the market size be in 2021 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
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