New Research: Lucintel Predicts a Bright Future for the Mining Equipment Market

Did you know that Lucintel recently published a market research report entitled “Growth Opportunities in the Global Mining Equipment Market”?
This market report for mining equipment identifies and predicts future opportunities for growth in global mining equipment industry for various segments as well as for various regions such as North America, Europe, Asia Pacific, and the Rest of the World. It also identifies growth opportunities for mining equipment by product (surface mining equipment, underground mining machinery, drills and breakers, crushing, pulverizing, screening equipment, mineral processing machinery, and parts and attachment), application (metal, mineral, and coal), by region (North America, Europe, Asia Pacific, Rest of the World).
APAC is expected to remain the largest market due to increasing coal and metal exploration activities for power generation and rising metal consumption due to large scale infrastructure development.
According to Lucintel’s market report, the global mining equipment industry is expected to reach an estimated $80.8 billion by 2021, and it is forecast to grow at a CAGR of 2.3% from 2016 to 2021. The major drivers of growth for this industry are increasing coal and metal exploration and growth in manufacturing activities. Some of the dominant players in the global mining equipment market are Caterpillar Inc., Hitachi Construction Machinery Co., Komatsu Ltd, Joy Global Inc., and Atlas Copco.
There are some interesting developments in global mining equipment market as competition heats up and players try to increase their market share. Some of the emerging trends which have a direct impact on the dynamics of the mining equipment industry include the development of underground automation systems, the introduction of automatic power crushers and multi-functional excavators, the use of hybrid electric motors, rail-conveyor technology for bulk material haulage solutions.
Read more about this report at

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