Albany, NY -- (SBWIRE) -- 05/09/2016 -- Mining equipment is used to extract natural resources such as metals, coal, and minerals, including iron ore, titanium, bauxite, and copper; gravel and sand; platinum and gold; and salt and other non-metallic products. Mining equipment includes trucks, dozers, loaders, borers, core drillers, stationary and portable crushers, dryers, feeders, hydraulic pumps, conveyor belts, and compressors.

The global mining equipment rental market to grow at a CAGR of 3.36% during the period 2016-2020. Rental mining equipment accounts for a significant share in the global mining equipment market. The high cost of capital, overhead cost, and maintenance cost attached with the ownership of mining equipment have led end-users to rent mining equipment. The nature of a project and its duration are the key factors considered while purchasing or renting mining equipment. Generally, for a small-scale project scheduled for a short span, companies prefer to rent mining equipment as opposed to purchasing them.

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The report covers the present scenario and the growth prospects of the global mining equipment rental market for the period 2016-2020. The market size has been calculated considering the end-user demand for various rental mining equipment in 2015. Market predictions are based on the projected demand for rental mining equipment during the forecast period.

The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA

Technavio's report, Global Mining Equipment Rental Market 2016-2020, 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
- Atlas Copco AB
- Caterpillar Inc.
- Hertz Equipment Rental Corporation
- Komatsu Ltd.
- Sunbelt Rentals Inc.

Other prominent vendors
- AMECO
- EMECO
- Eqstra
- H&E Equipment Services
- Hewitt Rentals
- McDowell Equipment
- United Rentals
- United Mining Rentals
- EquipRent
- SMS Rental

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Key questions answered in this report
- What will the market size be in 2020 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?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

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