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The global mining equipment market size was valued at USD 120.82 billion in 2017 and is anticipated to record a CAGR of 11.7% during the forecast period. Growing drilling and exploration activities across the globe are projected to drive the market over the coming years
· Hot spot for mining equipment . The region continues to be one of the largest producers of the world's three most important metals: iron ore, copper and gold. One of the key reasons growth of the Latin American mining equipment market continues to accelerate is the enhanced demand for these natural resources in recent years.
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In 1992 the World Bank began to push for privatization of government-owned mining companies with a new set of codes, beginning with its report The Strategy for African Mining. In 1997, Latin America's largest miner Companhia Vale do Rio Doce (CVRD) was privatized.
Mining equipment include mining drills and tools, earth movers, crushing equipment and machines, feeding & conveying equipment, and others. Metals and minerals are extracted from the ground with help of computerized remote-control equipment, high-technology operations, and complex machinery.
Press Release issued Feb 14, 2017: The mining industry is expected to witness growth with a single digit CAGR over the next six years on account of the further expanding demand for metal and mineral commodities. Latin America accounted for about 8% of the global mining equipment demand in 2013 and its contribution towards global mining equipment sales was registered at 15% for the same year.
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Mining Corp. is the world's largest producer of electric mining shovels and a leading producer of surface mining equipment including blasthole drills, walking draglines and wheel loaders. We offer solutions worldwide for use in the mining and processing of essential minerals.
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On the basis of the application the global mining equipment market is segmented into metal, non-metal, and coal. On the basis of region the global mining equipment market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Regional Insights
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Market segmentation of Latin American mining equipment can be done on the basis of equipment, application and countries. On the basis of equipment, the Latin American mining equipment market includes mineral processing equipment, surface mining equipment, underground mining equipment, mining drills and breakers, crushing and screening equipment, etc.
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