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World demand
to rise 8.6% annually through 2017
Despite some short term weakness,
the worldwide mining machinery market is forecast to expand 8.6 percent per
year through 2017 to $135 billion, spurred by voracious demand for mined
materials in China, India, and several other developing nations as industrial
output increases. Global patterns of investment in mining capacity will be
determined in large part by these industrializing countries, as resource
companies look to capitalize on new sales opportunities. Rapid gains in mining
equipment demand will occur in large developing markets such as Brazil,
China, and India, with China being the largest purchaser by a wide margin. Additionally,
machinery demand will expand in other nations with large deposits of industrial
materials, including Australia, Chile, Indonesia, and Peru.
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Asia/Pacific
region to see greatest sales growth
The large Asia/Pacific market is
expected to post the greatest sales growth through 2017, fueled by substantial
investments in new mine production capacity in several nations. Strong gains
will also be recorded in Central and South America, as mining companies look to
develop the region’s sizable deposits of bauxite, copper, and iron ore. For
example, this region is the largest producer of copper by a wide margin, and
the dissipation of oversupply issues that existed in 2012 and 2013 will allow
copper prices to recover and boost associated mining equipment demand. The
Africa/Mideast region will post the next strongest market advances, followed by
Eastern Europe, Western Europe, and North America. In developed areas, a
recovery in construction spending and manufacturing output will boost demand
for nearly all types of mined materials, though more emphasis on
environmentally friendly sources of electricity will dampen thermal coal
output.
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Read more on “World Mining Equipment to 2017”
report below.
Key metals
mining market to raise at the most rapid pace
While metals mining accounts for a
lesser share of mine output than nonmetallic minerals and coal in volume terms,
this application represents the largest segment of the global mining machinery
market due to the large amount of material that typically must be removed per
ton of metal produced. This slice of the market will also rise at the fastest
pace through 2017, stimulated by steel and aluminum production. An expansion in
construction spending and agricultural output as world population continues to
grow will boost consumption of construction aggregates and fertilizer minerals
like phosphate rock, as well as sales of related equipment. Growth in primary
metals production and rising global energy demand will spur growth in coal
mining machinery sales, as will ongoing efforts to mechanize coal mining
operations in China. However, a shift away from coal as an electricity source
in developed countries will restrain overall demand advances.
Drills &
breakers will be fastest growing products
Through 2017, demand for drills
and breakers will climb at the most rapid pace of any product segment, as these
units are used almost universally across all mining operations, especially
during the exploration phase of a project. Additionally, the growing use of in
situ mining techniques, where these products are a primary type of equipment employed,
will further increase sales. Like drills and breakers, crushing, pulverizing,
and screening equipment is used in almost every kind of mining operation, and
continued gains in world mining output will result in strong sales advances for
these products.
Company
Profiles
Profiles for over 40 industry
participants worldwide such as Atlas Copco, Caterpillar, Hitachi, Joy Global,
Metso, Liebherr-International, Komatsu and Sandvik
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