Mining Equipment Market to Reach Us$ 96.0 Bn by 2022

According to a new market report published by Credence Research Inc “Mining Equipment Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 - 2022,” the growth of mining equipment market is strongly depends on economic conditions, demand for minerals, and number of mining projects.

The global mining equipment market is expected to see a significant growth though the forecast period 2015 – 2022 with improving economic conditions and rising mining activities across the world. In addition, stringent mandatory regulations are forcing mining companies to replace their outdated to improve mining process and labors’ safety. Advanced mining equipment reduces need of manpower and improves the efficiency of mining process which is influencing the demand for these equipments.

Browse Full Mining Equipment Market - Growth, Share, Opportunities & Competitive Analysis, 2015 - 2022 Report At: http://www.credenceresearch.com/report/mining-equipment-market

Based on product type, surface mining equipment accounted for the largest revenue share in 2015. The demand for surface mining equipment is expected to grow steadily with rising demand for precious mines. We have considered bulldozers, loaders, dumping trucks, service trucks and other maintenance equipment to estimate the market size surface mining equipment. Underground equipments are expected to see the fastest growth compared to other product categories. This growth is primarily attributed to rising adoption of energy efficient mining equipment across the world due stringent energy efficiency regulations.

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We have classified the global mining equipment market into coal, metal and mineral based on its end-use application segments. Metal mining is the largest application segment for mining equipment and expected to maintain its dominating position with rising demand precious metals such as gold, platinum and...