Mining Equipment Market in the US Market 2015-2019
About Mining Equipment
Mining equipment is used to extract various natural resources from the earth. Transportation equipment, excavation equipment, and screening and washing equipment are some of the equipment used in the Mining industry. Mining equipment uses its mechanical energy to move rocks or heavy surfaces and drill holes in the earth's surface.
TechNavio's analysts forecast the Mining Equipment Market in the US to grow at a CAGR of 8.27 percent over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the Mining Equipment Market in the US market during the period 2015–2019. For ascertaining the market size and vendor share the report considers the revenue obtained from the sales of Mining Equipment services and products.
TechNavio's report, the Mining Equipment Market in the US market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Mining Equipment Market in the US market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Mining Equipment Market in the US 2015-2019
Technavio recognizes the following companies as the key players in the Mining Equipment Market in the US: Caterpillar Inc., Joy Global Inc. and Roberts and Schaefer Co.
Other Prominent Vendors in the market are: Alcoa, Kennametal and P&H Mining Equipment
Commenting on the report, an analyst from Technavio’s team said: “One key trend upcoming in this market is the increased demand for energy-saving equipment. The Mining industry is one of the major end-users of energy. Coal, mineral, and metal mining require large amounts of energy. In addition, energy costs are expected to account for more than 10-15 percent of the total production costs.”
According to the report, one of the key factors driving market growth is the increase in mining activities throughout the US. Mining activities have witnessed huge growth in the US. The country is also a major producer of minerals and metals such as gold, silver, and uranium.
Further, the report states that the need for high initial investment is a key challenge affecting overall market revenue. Many mining end-users are finding it difficult to invest large amounts of money in mining equipment and prefer cost-effective mining equipment.
Caterpillar , Joy Global , Roberts and Schaefer, Alcoa, P&H Mining Equipment, Kennametal