Global Mining Equipment Market is Expected to Reach USD 117.0 Billion by 2018: Transparency Market Research

Global Mining Equipment Market is Expected to Reach USD 117.0 Billion by 2018:
                         Transparency Market Research

  PR Newswire

  ALBANY, New York, January 31, 2013

ALBANY, New York, January 31, 2013 /PRNewswire/ --

According to a new market report published by Transparency Market Research (
http://www.transparencymarketresearch.com ) "Mining Equipment Market - Global
Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018," the
global mining equipment market is expected to reach USD 117.0 billion by 2018
from USD 71.5 billion in 2012 at a CAGR of 8.5% from 2012 to 2018. The Asia
Pacific market was in a commanding position having contributed more than 60%
of the entire mining equipment market share in 2012.

Browse the full report at
http://www.transparencymarketresearch.com/mining-equipment.html

The global mining equipment market is primarily driven by factors such as
increasing mining activities in developing countries and the rising demand for
technically advanced solutions across the globe. The large iron ore projects
planned in Brazil, Russia, Australia, Africa and other regions are expected to
drive the mining equipment industry in coming years. Mining activities in oil
refineries, coal mining and other underground mining activities taking place
in the emerging markets, especially Latin America and Asia Pacific are leading
to huge demand for mining equipment in these regions.

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The surface mining equipment market holds the largest share and accounts for
nearly 37% of the entire mining equipment market owing to the rising demand
for metal and mineral commodities. The mining drills and breakers market is
expected to be the fastest growing market in the coming years owing to their
increasing demand from developing countries. These equipments are imperative
in most operations, where breaking through the ground and subsurface materials
are necessary. The market for underground mining equipment holds the second
largest share in the global mining equipment market and is expected to grow at
a moderate growth rate from 2012 to 2018. Underground mining equipment
includes hydraulic shovels, cable shovels, continuous mining machines, long
wall mining machines and drag lines.

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Asia Pacific was the largest regional market for mining equipments and
accounted for approximately 60% of the entire mining equipment market in 2012,
followed by RoW, North America and Europe. China alone accounts for almost 50%
of the entire mining equipment market. Asia Pacific is expected to be the
fastest growing region in the coming years, fueled by increasing mining
production and related machinery sales in India, China and Indonesia.

Leading players in the global mining equipment industry include renowned names
such as Caterpillar Inc., Hitachi Construction Machinery, Joy Global Inc.,
Komatsu Limited, Sandvick AB, and Atlas Copco. This industry is very
competitive and concentrated with many mature multinational firms having their
operation units across the globe. There are more than 650 companies, with the
top 50 companies holding more than 80% of the industry share and competing
with each other for revenue and customers, nationally and internationally.
Caterpillar Inc. is the world's largest player in the mining equipment
industry followed by Komatsu and Hitachi Construction Machinery.

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