World demand to rise 8.5% annually through 2015
The world market for mining equipment is projected to climb 8.5 percent annually through 2015 to $92 billion. Demand will be stimulated by an increase in mining output growth as global manufacturing activity and construction expenditures accelerate in a generally favorable economic climate. Commodity prices are also expected to remain high by historical standards, contributing to a rise in resource exploration and development activity, and associated mining machinery sales. In addition, efforts to increase mechanization of mining operations in the huge Chinese market and boost productivity in high labor cost areas such as Australia and Canada will bolster overall equipment demand.
Asia/Pacific region to remain dominant, grow the fastest
In a continuation of historical trends, the Asia/Pacific region is forecast to register the strongest market advances through 2015, fueled by robust increases in mine production and related machinery sales in China, India and Indonesia. China alone will account for 57 percent of all new mining equipment demand between 2010 and 2015, even though growth is expected to slow significantly. Central and South America will post the second fastest gains, supported by a pickup in manufacturing and construction activity, leading to higher demand for mined materials. The Africa/Mideast region will record the next strongest market advances, followed by North America, Eastern Europe and Western Europe. Mining output and associated machinery sales in all four areas will be spurred by generally healthy economic growth and high commodity prices. In addition, equipment suppliers will benefit from the implementation of Tier 4 emissions standards in the US and Canada and the adoption of Stage IIIB and Stage IV emissions standards in the European Union, raising average product prices and contributing to overall dollar demand.
Metals, coal mining to lead gains in market demand
The market for mining machinery used in metals mining operations, which accounts for the largest share of world sales, is projected to expand at the strongest pace through 2015, bolstered by price-driven increases in resource exploration and mine development activity. Coal mining equipment demand is expected to climb nearly as fast, stimulated by an acceleration in primary metals manufacturing growth, as well as by a pickup in global economic activity and additional population gains, leading to higher demand for coal utilized in heating and electricity generating applications. The world market for nonmetallic mineral mining machinery will rise at a somewhat slower rate, fueled by increases in construction expenditures and ongoing population growth, boosting farming activity and consumption of fertilizer minerals like phosphate rock and potash.
Mining drills, breakers to pace product demand gains
Mining drills and breakers will be the fastest growing product segment, reflecting their near-universal use in settings where breaking through the ground and subsurface materials is required. The second strongest advances will be posted by crushing, pulverizing and screening equipment. Like drills and breakers, these products are widely used in both surface and underground mining, and will benefit from gains in global mining output. Although demand for surface mining machinery will expand at a slower rate, these products will continue to account for the largest single share of equipment demand.
This upcoming industry study presents historical demand data (2000, 2005, 2010) plus forecasts for 2015 and 2020 by product, market, world region and for 31 countries. The study also considers key market environment factors, evaluates company market share and profiles 40+ industry competitors.As the professional manufacturer of complete sets of mining machinery, such as Classifier,VSI sand maker,Vibrating feeder, Henan Hongxing is always doing the best in products and service.
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