The Underground Mining Equipment Market report on market development history, competitive landscape analysis, and by major regions development status (Americas, APAC, EMEA) and other regions can be added to development status. The analysts forecast the global underground mining equipment market to grow at a CAGR of 4.29% during the period 2017-2021.
The Underground Mining Equipment market trend is integration of IoT in underground mining equipment for remote monitoring. The surface mining equipment industry has evolved over the years and will continue to adopt new practices and strategies for improved customer experience. Changes in underground mining equipment are driven by evolving technology, such as performance monitoring and remote monitoring.
According to the underground mining equipment market report, one driver in the market is stabilization of industrial commodity prices. Industrial commodity prices are expected to stabilize, helping related industries recover profit margins over the forecast period. According to the World Bank reports, crude oil prices are forecast to reach above the $60/barrel mark in 2018. This price recovery, coupled with concerted efforts of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC states will allow crude oil prices to stabilize gradually. This increase in oil prices is expected to increase the prices of energy commodities, such as coal and natural gas. The demand for coal is expected to rise, especially in China, which consumes half of the global coal output.
Key players in the global underground mining equipment market: Atlas Copco, Boart Longyear, Caterpillar, Komatsu, and Sandvik. Other Prominent Vendors in the market are: AARD Mining Equipment, CME, FURUKAWA, Guizhou Sinodrills Equipment, Mindrill Systems & Solutions, REVATHI EQUIPMENT, Rockdrill Services Australia, Rockmore International, Sulzer, and TEI Rock Drills. Mining is the process used to extract valuable minerals, rocks, metals, or other geological materials from the earth in the form of vein, seam, reef, lode, orebody, or placer deposits. These extracted materials form a mineralized package, which is profitable for the miner. Ores that are extracted by the process of mining include coal, metals, rock salt, potash, gravel, limestone, oil shale, gemstones, chalk, dimension stone, and clay. Mining is also used to extract non-renewable resources, such as crude oil and natural gas.
Another related report is Global Compaction Equipment Market 2017-2021, the analysts forecast global Compaction Equipment market to grow at a CAGR of 4.74% during the period 2017-2021. A compactor is a machine or mechanism used to reduce the thickness of materials such as soil, aggregates, concrete, and so on by filling the air voids present in the material.
Companies are Caterpillar, Atlas Copco, Hitachi Construction Machinery, JC Bamford Excavators, and Volvo. This report covers the present scenario and the growth prospects of the global compaction equipment market for 2017-2021. To calculate the market size, the report considers the Total net sales of major vendors from annual reports, Computation of compaction equipment market share and an average of total share by each major vendor.