SAN FRANCISCO, July 22, 2015 /PRNewswire/ --
The Global Mining Equipment Market is expected to reach USD 95.14 billion by 2022, according to a new study by Grand View Research, Inc. The mining industry has faced an economic slowdown over the last two years due to reduced investments and weak demand from major geographies including North America & Europe which has significantly hampered the mining equipment market.
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Leading manufacturers including Caterpillar, Sandvik and Atlas Copco have reported substantial drop in their revenues as a consequence of the mining industry's economic slump. The slowdown is primarily concentrated around new projects and expansion of existing projects. Current operations continue to perform well, with companies striving constantly to improve productivity.
Browse full research report with TOC on "Mining Equipment Market Analysis by Product (Mining Drills & Breakers, Crushing, Pulverizing & Screening Equipment, Mineral Processing Machinery, Surface Mining Equipment, Underground Mining Machinery) By Application And Segment Forecasts To 2022" at: http://www.grandviewresearch.com/industry-analysis/mining-equipment-industry
The mining industry is expected to start its recovery post 2017, as mining equipment manufacturers are expected to increase their capital spending, triggered by the opening of new sites particularly in the untapped regions of Africa and Latin America.
Further key findings from the study suggest:
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/oil-and-gas-drilling-and-extraction-equipments
For the purpose of this study, Grand View Research has segmented the Mining Equipment Market on the basis of product, application, and region:
Browse related reports by Grand View Research:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: http://www.grandviewresearch.com
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