mining equipment market share & growth report, 2020-2027

mining equipment market share & growth report, 2020-2027

The global mining equipment market size was valued at USD 144.37 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 12.7% from 2020 to 2027.Ongoing digital mine innovation is expected to transform the key aspects of mining over the next few years. Increased investment, along with government support for the digital mine innovation, is expected to trigger the demand for mining equipment over the forecast period. Improvements and innovations in extraction technologies and equipment have contributed to the betterment of ore grades, thus extending the life of older mines.

Technology is becoming a critical differentiating factor for manufacturers and mining companies as digitization and automation are continuously gaining momentum. Key players are focusing on reducing the cost of extraction and equipment maintenance. Moreover, the industry has witnessed a large scale adoption of different clusters of technologies, such as robotics & automation, smart sensors, and 3D printing, to enhance operational efficiency. For instance, in January 2019, ABB Ltd. launched the Ability Smart Sensor for assessing the condition of mounted bearings so as to prevent the downtime in mining during material handling.

Need to provide environment-friendly equipment in response to the demand for a sustainable future is on the rise. There is a continuous shift to renewable energy, which has increased the demand for a variety of minerals. This situation has enabled companies to strengthen their business to offer equipment, which are more productive and have a smaller environmental impact. For instance, the advanced control technologies in the Autonomous Haulage System (AHS) of Komatsu Ltd. reduces fuel consumption, along with tire wear and emissions.

The transition from underground to innovative and economical open pit mining is expected to propel the demand for mining equipment over the next few years. The mining industry requires a large amount of energy to extract and protect resources, including a variety of refining and concentration processes. Decrease in the average copper ore grade has led to an increase in energy consumption and total material production, thereby propelling the demand for high-performance equipment.

Development of high-performance equipment has made it possible to extract ores of declining grades without increasing the costs. This trend is increasingly perceptible in several steel manufacturing companies pursuing to enter the mineral exploration sector for securing their supplies of coking coal and iron ore at a rational cost.

Surface mining equipment held the largest share of the overall revenue in 2019 and is expected to maintain its lead over the forecast period. Increasing demand for coal, iron ore, chromium, and diamonds in emerging economies is expected to provide growth avenues for the surface mining equipment over the next few years. Growing adoption of this equipment has led to selective mining operations by exploring high-quality materials and creating embankments and stable surfaces.

Furthermore, increased demand for excavators in the construction and oil & gas industries is expected to significantly contribute to the growth of the surface mining equipment segment. This equipment has also witnessed increased demand due to the emergence of compact excavators. These excavators are a potential solution for carrying the excavating process in confines spaces. Companies are further upgrading excavators and electric shoves to meet the current metal exploration demand. For instance, in September 2019, Komatsu Ltd. introduced a hydraulic excavator, PC2000-11, which is equipped with a machine monitoring system, called KomVision. This is used to load the haul trucks and can be used for loading coal, stripping overburden, and loading shot rock.

Underground mining equipment significantly contributed to revenue growth in 2019. Need to maximize the efficiency of decline truck haulage and maintain its competitiveness with shaft haulage has led to increased demand for underground high-capacity trucks. Furthermore, miners are unable to find economically viable deposits for open-pit mining. This situation has given rise to the expansion of underground mining to extend the mine life, thereby driving the demand for underground mining equipment.

The metal mining application segment dominated the global mining equipment market in 2019 owing to an increase in hauling of metal deposits and high demand for precious metals. Factors such as favorable government regulations, growth of the mining-related end-use industries, and fluctuation in commodity prices are expected to significantly affect the demand for mining equipment in the metal mining applications. Iron and copper mines in South America and Australia are procuring additional equipment deliveries, which is expected to trigger the growth of this application segment. This procurement is a result of the improvement in the exploration of iron and copper.

The non-metal mining application segment witnessed substantial growth in 2019. Need for non-metal mining has observed an upsurge due to increased demand for the extraction of rocks, stones, sand, and similar materials for the construction of roads, buildings, monuments, and landscaping. Increasing number of investment schemes in this sector by various governments is also boosting the growth of the non-metal mining segment. For instance, in 2019, the Australian government raised new funding for its critical minerals and rare earth minerals sector. Extraction projects in the areas of defense and critical minerals will have access to dual funding through the Export Finance Australia (EFA) and Northern Australia Infrastructure Facility (NAIF).

Asia Pacific accounted for the largest market share in 2019 and is expected to maintain its lead over the forecast period. India, followed by Australia, accounted for a significant share of the overall revenue due to constant investments and increasing infrastructure projects. India offers a number of opportunities for the mining companies as there is significant scope for exploration of bauxite, iron ore, and coal. Furthermore, booming real estate sector in the country is expected to augment the demand for metal mining equipment, thereby contributing to regional growth.

Furthermore, continuous government support for the development of mining and exploration has generated ample opportunities for manufacturers to provide enhanced equipment. For instance, the Government of India has allowed 100% FDI in this sector for the exploration of metal and non-metal ores. Moreover, the Ministry of Steel aims to more than double the steel production capacity to 300 million tons by 2030-31. Such initiatives and support are expected to compel the mining equipment manufacturers to establish a base in the country, thereby amplifying the mining equipment industry growth over the next few years.

Latin America has gained popularity owing to a boost in mineral exploration activities, which is attributed to significant investments in this sector. Chile and Peru are home to a large number of copper and gold mines, which contribute significantly to the global exploration of metals. Moreover, favorable mining regulations for overseas investors, particularly in Peru, Chile, and Colombia, are aiding regional growth. Moreover, the region is home to large deposits of copper, gold, and iron, which provides exploration opportunities, thereby increasing the demand for surface mining equipment.

Companies are stressing on enhancing their service and after-service strategies to provide value-added offerings to clients. For instance, Caterpillar, Inc. strategizes to deliver a superior customer experience, which focuses on value-added offerings to transform traditional product support. Such a strategy has increased the sales of products, which will further strengthen the companys presence in the aftermarket.

Major OEMs have been carrying out joint ventures and development programs for components and purchased-finished materials with certain competitors, aiming to reduce manufacturing costs and provide competitive differentiation. Expansion of offerings by developing the right differentiated product is one of the key strategies adopted by companies to ensure long-term customer loyalty. For instance, Caterpillar, Inc.s next-generation 20-ton size class excavators have helped customers in reducing fuel consumption and maintenance costs, along with increasing operating efficiency to achieve cost and productivity targets. Some of the prominent players in themining equipment market include:

U.S.; Canada; Germany; U.K.; Spain; France; Finland; Sweden; Poland; Russia; China; India; Japan; Australia; Indonesia; South Korea; Philippines; New Zealand; Chile; Peru; Saudi Arabia; South Africa; Iran; Egypt; Ghana

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global mining equipment market report on the basis of equipment, application, and region:

b. Surface mining equipment dominated the global mining equipment market with a share of 41.86% in 2019. This is attributable to increasing demand for coal, iron ore, chromium, and diamonds in emerging economies.

The ongoing pandemic has led to a decline in exploration activities in the oil & gas sector. A number of EPC projects have also witnessed an indefinite pause that has transpired into a slump in the requirement for drilling and excavation services. Economic repercussions of the trend are expected to be highly evident in the Middle East. The report will account for Covid19 as a key market contributor.

north america mining equipment market - growth, trends, covid-19 impact, and forecast (2021 - 2026)

north america mining equipment market - growth, trends, covid-19 impact, and forecast (2021 - 2026)

The North America Mining Equipment Market was valued at USD 10. 35 billion in 2020 and is anticipated to reach USD 14. 89 billion by 2026, at a CAGR of 4. 58% during the forecast period. The outbreak of COVID-19 and the subsequent shutdowns have not affected the North America mining equipment market upto a great extent, as the day to day operations in mines were performed with less staff during the pandemic.

New York, July 02, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Mining Equipment Market - Growth, Trends, COVID-19 Impact, and Forecast (2021 - 2026)" - https://www.reportlinker.com/p06101231/?utm_source=GNW However in starting months sales of equipment decline but as the situations were brought under control sales returned to its normal level.With the rise in consumption of base metals and precious metals in numerous applications, the mining activities of these metals have increased, especially in countries, such as Canada and Mexico.The equipment effectiveness in underground mining is nearly 27.3% whereas it is nearly 40% for open pit mining. Over the last years, transition has been observed from less economical underground mining to the more economical open-pit mining, and this factor is expected to drive the demand for mining equipment during the forecast period.Owing to the implementation of stringent emission norms and regulations, the mining equipment manufacturers are investing more in the development of fuel efficient, low emission and electrically powered equipment.Furthermore, the development of high-performance equipment, with increased automation, has made extraction of ores without declining the grades comparatively cheaper, in turn, propelling the growth of the mining equipment market.Key Market TrendsIncreasing Demand for Surface Mining EquipmentIn surface mining, the equipment deployed are drilling equipment, electric shovels, high wall miners, excavators, dumpers, motor graders, wheel dozers, and others.Technological advancements and increasing demand for oil sands, coal, and gas are expected to drive demand for the surface mining equipment market. For instance,- According to the Environmental Impact Assessment (EIA), in 2019, about 756 million short tons of coal were produced in the US. The surface mines accounted for 63% of total coal production and these also represent 63% of the total number of mines in the United States.Significant improvements in equipment efficiency, investments in the sector by Original Equipment Manufacturers (OEMs), coupled with the need for sustainable products, are expected to positively augment market growth during the forecast period. For instance,- In September 2020, the new Cat 963 crawler loader replaced the 963K loader. It is a versatile machine that can dig, load, carry, and fill. It provides up to 10% higher fuel efficiency, productivity, and cab and controllability enhancements.- The 963 meets US EPA Tier 4 Final/EU Stage V emission standards. It has 202 HP (151 kW) power and an operating weight of 44,881 lbs. (20 358 kg).Companies are further upgrading excavators and electric shoves to meet the current metal exploration demand. For instance,- In September 2019, Komatsu Ltd introduced a hydraulic excavator, PC2000-11, equipped with a machine monitoring system, called KomVision. This is used to load the haul trucks and can be used for loading coal, stripping overburden, and loading shot rock.In addition, the growing adoption of this equipment has led to selective mining operations by exploring high-quality materials and for creating embankments and stable surfaces likely to provide lucrative opportunities for manufacturers by developing their product portfolio. For instance,- In January 2021, Caterpillar launched the next generation three new large excavators along with two ultra-high definition demolition (UHD) machines. These kind of development activities are expected to drive demand for the market.- In June 2019, Komatsu acquired a mining workforce optimization company in order to improve the safety and productivity of mining customers. These kinds of acquisitions increase the market share of companies.Therefore, all the abovementioned instances are anticipated to propel growth of the surface mining equipment segment during the forecast period.Canada to Lead the Market During Forecast PeriodThe mining industry contributed CAD 34,173 million to the GDP of the Canadian economy, of which, CAD 19,829 million was only from the metal mining segment of the industry, in 2019.The Canadian mining industry produced minerals worth of CAD 48.16 billion in 2019, making the mining industry an important contributor to the Canadian economy. Quebec reported the most production value in 2019, at CAD 10.77 billion worth of minerals, closely followed by Ontario at CAD 10.66 billion.The high expenditure in mineral explorations i.e., CAD 1.7 billion in 2018, CAD 1.6 billion in 2019, and preliminary estimated spending of CAD 1.5 billion in 2020 indicate the industrys commitment toward mineral production and the need for dependable and economic equipment for different mining companies.Even with reduced foreign interest towards mining in Canada, compared to that of other North American countries, Nunavut region, in August 2019, observed huge investments of CAD 1.2 billion by Agnico Eagle, to open and operate the Meliadine mine and the Amaruq Whale Tail Project.The country possesses an extensive network of 3,767 suppliers that cater to the different requirements of the mining industry. The supplier network is only third largest in the leading countries, with respect to mining, and second largest after the United States in the Americas. According to the Mining Supplier of British Columbia, the supply sector, which provides technical, financial, and other services for mining, generated CAD 2.9 billion worth of economic activity in 2018.Mining companies, like Newmont, Teck Resources Limited, Cameo Corporation, PotashCorp, and Canadian Natural Resources Limited, are working with manufacturers, like Komatsu in British Columbia, Alberta, Manitoba, Newfoundland, and Labrador, among other states, and Liebherr Mining Equipment in Ontario, Quebec, Alberta, and other provinces, along with Belaz North America in Toronto, that offer mining equipment services in these regions.Various technologies are implemented in the mining sites active across the country, for cost cutting and efficient mining. Meglab in June 2021, developed and installed a system in Borden Mine of Ontario that monitors the mines energy consumption during its operations and offers alternatives to the operators if the energy consumption is going beyond the limit.The above-mentioned figures and statistics indicate the huge opportunity for the mining equipment market in Canada.Competitive LandscapeThe North American mining equipment market is characterized by the presence of numerous international and regional players, resulting in a competitive market environment. With the growing competition in the market, innovation becomes a critical factor for the players for standing out in the industry, as many countries are trying to decarbonize and reduce GHG emissions from the mining sector by motivate mining companies to switch to electric mining equipment.Major players have increased their R&D expenditure exponentially in order to integrate innovation with excellence in performance. The demand for high performance, high efficiency, and safe handling equipment is expected to make the market more competitive over the forecast period.Reasons to Purchase this report:- The market estimate (ME) sheet in Excel format- 3 months of analyst supportRead the full report: https://www.reportlinker.com/p06101231/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________

Shares of SGOCO Group(NASDAQ: SGOC) were up over 500% on Friday on heavy trading volume. The penny stock didn't release any news to trigger this price movement. SGOCO Group is a penny stock that manufactures phase change storage systems, among other items.

Shares of Novavax (NASDAQ: NVAX) dropped 12.7% this week as of the market close on Thursday. The primary reason behind this decline appears to be increasing concerns about the rise of coronavirus variants, especially the highly contagious delta variant. This lack of information about the efficacy of Novavax's vaccine against the delta variant seems to be troubling investors to some extent.

The good news: That pension and your savings are and will be great assets for you in retirement, so congratulations on that! There are many factors that go into knowing how much youll need for retirement, and a few ways to break down these annual estimates. For example, if you were to use the 4% rule, which is a traditional rule of thumb that suggests you take out 4% of your retirement savings every year to live on, youd generate about $30,000 to $35,000 a year, said Morgan Hill, chief executive officer of Hill and Hill Financial.

Interest rates have dropped to near zero, bond yields have fallen substantially from pre-COVID levels, and a number of traditional dividend paying stocks cut or postponed payments due to the pandemic. This compounding effect, combined with rising inflation, has created an environment that has seen real yields (nominal interest rate minus inflation) at their lowest level since the 1970s, as measured by the U.S. 10 Year Treasury bond. The current inflationary environment is, to put it mildly, less than ideal for yield-focused investors especially retirees.

Shares of NIO (NYSE: NIO) have been trending down in concert with other U.S.-listed Chinese stocks over the past several days. The stock rebounded early Friday after the company held its Power Day 2021 event, jumping more than 3%, but that bump didn't last, and shares were trading 1.2% below Thursday's close as of 11:15 a.m. EDT on Friday. The news likely explains the early gains in the stock, but there also may still be overhang from investors concerned about the Chinese government cracking down on U.S.-listed companies.

Strategy Analytics estimates that 5G smartphone shipments could hit 624 million units this year from just 269 million in 2020. There were almost 136 million 5G smartphones shipped in the first quarter of 2021, according to the research firm, and sales are likely to get stronger as the year progresses. As such, now is a good time to load up on key beneficiaries of the growth in 5G smartphones.

(Bloomberg) -- China is likely to take a break from buying large amounts of U.S. corn after record purchases this year because the domestic harvest is approaching and local prices have slumped to the cheapest since late 2020.The worlds largest importer has already bought more than 10.5 million tons of U.S. corn for the 2021-22 marketing year, and over 23 million tons for the current season, U.S. Department of Agriculture data show. Total imports next year will likely be 20 million tons, accordi

Not every sound stock choice makes waves and headlines in the markets. That should be obvious one reason the markets giants draw so many investors is a combination of social pressure, fear of missing out, reinforced by the news dominance those very giants generate. But historys most successful investors kept their portfolios diversified, and that includes investments in lesser-known stocks. These are stocks that for whatever reason have slipped under the radar they havent picked u

Job openings are at a record high and most companies are trying to hire, but they can't find enough workers even though millions of people are still unemployed. Why aren't they looking for work? When do they plan to find a job?

Signs of panic buying emerged Friday afternoon on the New York Stock Exchange amid a powerful stock-market rally in the final minutes of trade, a day after one of the worst selloffs for equities since mid June. Market internals suggest that investors are buying mightily headed into the weekend. The NYSE Arms Index, a volume-weighted breadth measure, fell to 0.413, with many on Wall Street see declines below 0.500 as suggesting panic buying. The Arms Index is calculated by dividing the ratio of t

While the stocks that pay dividends generally do so on a quarterly basis, there is a select group of companies that pay them out monthly. Here are two REITs that income investors might appreciate knowing about, that pay monthly dividends, and that have above-market yields. Realty Income (NYSE: O) is a Dividend Aristocrat that calls itself The Monthly Dividend Company.

mining equipment market share & growth | industry report, 2021 to 2026 mordor intelligence

mining equipment market share & growth | industry report, 2021 to 2026 mordor intelligence

The Mining Equipment Market is segmented by Type (Surface Mining Equipment, Underground Mining Equipment, and Mineral Processing Equipment), Application (Metal Mining, Mineral Mining, and Coal Mining), Powertrain type (IC Engine Vehicle and Electric Vehicle), and Geography (North America, Europe, Asia Pacific and Rest of the world). The Report offers market size and forecast for Mining Equipment Market in value USD billion for all the above segments.

The COVID-19 pandemic had an immediate impact on the global economy and that impact goes across all industries, including mining. Significant price drops were observed across major commodities, while in some cases, prices remain passive. For example, demand for metallurgical coal and thermal coal has decreased, while demand for gold and iron ore has increased.

However, the market is expected to witness significant growth during the forecast period as the Increasing use of electric machinery in underground mining and increasing demand for metals and commodities occupy a major share in the market. The increasing need for mineral fertilizers to improve agricultural yield, rise in construction of roads & railway tracks through hilly areas are expected to fuel the demand for mining activities in emerging countries such as India and China.

Ongoing digital mine innovation is expected to transform the key aspects of mining over the next few years. Increased investment, along with government support for the digital mine innovation, is expected to trigger the demand for mining equipment over the forecast period. Improvements and innovations in extraction technologies and equipment have contributed to the betterment of ore grades, thus extending the life of older mines.

By Type, the market is segmented intoSurface Mining Equipment, Underground Mining Equipment, and Mineral Processing Equipment. By Application, the market is segmented intoMetal Mining, Mineral Mining, and Coal Mining. By Powertrain type the market is segmented intoIC Engine Vehicle and Electric Vehicle and ByGeographythe market is segmented intoNorth America, Europe, Asia Pacific, and the Rest of the world. For each segment, the market sizing and forecast have been done on basis of value (USD billion).

Technological advancements and innovations are expected to drive the mining machinery industry growth. Several technologies that are revolutionizing the industry include automation, Internet of Things (IoT), 3D imaging, and plasma technology. These machines are developed using materials and technologies that can withstand high temperature and pressure. The machines are exposed to high radiation and chemical substances that can directly affect the functioning of the parts. The players in the market are focusing on such challenges and are developing machines that can be used for the extraction of specific minerals or metals.

The use of telematics in the mining industry has proven to be a game changer. Internet of things (IoT) sensors provide feedback to the fleet manager, which ensures lower downtime due to malfunctions and helps plan maintenance activities. With an increasingly competitive environment across all industries, companies are constantly looking for process optimization, which, in turn, has increased the demand for automation in the mining industry. Drones are being used for exploration and surveillance of mines.

Drones ensure that areas are clear before blasts, track post-blast fumes, and improve the overall safety of sites. BHP (Australia) has been using drones at its Australian mines for surveillance. Automation and teleoperation systems in the mining industry significantly improve productivity and safety. Thus, sales of new mining machinery synced with telematics solutions are expected to drive the mining machinery market.

The Asia Pacific is likely to lead the mining equipment over the forecast period. Many developing countries in the region have sizable coal-producing areas and significant coal and metal mining industries that need a substantial level of capital investment. Increasing demand for lower emissions, low cost, and high energy-efficiency machines is being witnessed in the region.

Asia-Pacific will dominate the mining equipment market due to its abundant deposits and increasing commodity prices and this region offers a number of opportunities for the mining companies as there is significant scope for exploration of bauxite, iron ore, and coal, whereas North America will witness its growth rate due to advancement in automotive technology and the region is home to large deposits of copper, gold, and iron, which provides exploration opportunities.

The growing availability of a lease-based model will encourage end-users to use advanced machinery. A rapid increase in construction activity and manufacturing output in China, coupled with government efforts to boost the mechanization of mines, have led to a rapid growth of the mining machinery market in the country. Moreover, the India market is anticipated to witness a steady growth owing to a rise in mining output growth and a significant need for mine mechanization.

The Mining Equipment Market is characterized by the presence of numerous international and regional players, resulting in a highly competitive market environment. Major players in the mining industry are now providing on-site solutions like components and equipment repair and services that include part support and even data analytics support. Many competitors in the mining equipment market adopted acquisition and business expansion as their key developmental strategies to develop their geographical foothold and promote their product technologies.

Some of the leading players in the market are Caterpillar, Liebherr-international, Atlas Copco Construction & Mining, Hitachi, Sandvik, Metso Corp., and Outotec. The leading players also have many subsidiaries that operate specifically for certain products and/or in different countries.

mining equipment market share, statistics | industry report 2024

mining equipment market share, statistics | industry report 2024

Mining Equipment Marketsize was valued at over USD 70 billion in 2017 which is expected to grow at over 5% CAGR from 2018 to 2024. The global shipments are expected to surpass 450 thousand units by 2024.

Rapid evolution in mining processes and a rise in the adoption of automated solutions in recent years are predicted to drive the mining equipment market demand over the forecast timespan. Several players are providing smart solutions to their customers for improving productivity and enhancing the efficiency of industrial operations. These smart solutions offer features such as real-time control & monitoring, will optimize production management, and enhance the decision-making approach. This has led to players integrating these advanced solutions into their products to enhance the productivity and reliability in mineral extraction processes. For instance, smart extraction solutions offered by Wipro Limited include advanced analytics, short interval control, mobile asset visibility, remote operation centers, digital work management, and mobility platform. With the integration of advanced digital technologies, customers are able to maximize the Return on Investment (ROI). Such factors are anticipated to facilitate the expansion of the market in industrialized countries.

With an increase in demand for exploration machines and robotics, companies are replacing legacy mining methods, providing an impetus to the mining equipment industry growth. The replacement of automated solutions in place of manual processes helps in reducing the number of accidents in handling and performing activities. Moreover, automation and robotics technology incorporated with the complex and heavy machines is enhancing the overall productivity. High investments of market players in R&D activities to provide technically-advanced machinery with greater efficiency, reliability, and the ability to sustain the rising competition are creating several growth opportunities. Over the coming years, the commodity prices are anticipated to witness an upswing, thereby fueling the market demand. In addition, a renewed strength in construction activities and the rise in manufacturing output in the developed markets will support the market growth.

In 2017, surface mining machinery market accounted for over 30% of the overall industry share. These machines are experiencing a high adoption due to the rise in demand for extraction of minerals such as non-metallic ore, metallic ore, and coal. Several new techniques are being developed depending on mining tasks such as mountain removal, strip, and open pit. The rising demand for mineral and metal commodities is projected to drive the market growth. This equipment aids in cost optimization due to its ability to cut, crush, and load in a single working process. The growing demand for technically-advanced solutions and a rise in mining activities in developed markets will fuel the industry growth over the coming years. Countries including Brazil, Russia, India, and China have a high abundance of natural resources and a high rate of coal production. These countries are experiencing a high adoption of this equipment for performing coal extraction activities.

Metal mining is anticipated to witness a steady growth over the coming years owing to the rise in disposable incomes and improved living standards that have fueled the demand for precious metals such as gold, platinum, silver, and other commodities. The rise in demand for this equipment for metal extraction will drive the market demand. Metals such as aluminum, copper, zinc, lead, and nickel are being utilized in several industrial sectors such as construction, chemical, and energy & utility for performing manufacturing operations. The rise in industrialization and urbanization trends in developing countries are providing numerous growth opportunities to the market players. Manufacturers are offering products with GPS technology and other electronic control modules and database tools for improving the product offering. Moreover, the replacement of aging infrastructure and development of new buildings for the safety is generating a high adoption of the metals such as iron and steel in construction activities, thereby driving the mining equipments demand.

Asia Pacific is anticipated to grow at over 6% CAGR over the forecast timeline. Lack of mechanization rates in Asia Pacific countries is anticipated to drive the sales. Many developing countries in the region have sizable coal producing areas and significant coal and metal mining industries that need a substantial level of capital investment. Increasing demand for lower emissions, low cost, and high energy-efficiency machines is being witnessed in the region. Growing availability of lease-based model will encourage end users to use advanced machinery. A rapid increase in the construction activity and manufacturing output in China, coupled with government efforts to boost the mechanization of mines, have led to a rapid growth of the mining machinery market in the country. Moreover, the India market is anticipated to witness a steady growth owing to a rise in mining output growth and a significant need for mine mechanization.

Major players operating in mining equipment market share include Caterpillar, Inc., Metso Corporation, Komatsu Ltd., Atlas Copco AB, Sandvik AB, CNH Industrial NV, Hitachi Co., Ltd., AB Volvo, Doosan Group, Liebherr Group, Astec Industries Incorporated, Bell Equipment Limited, China Coal Energy Company Limited, Bradken Limited, Corum Group, Hyundai Heavy Industries Company Limited, Kopex SA, RCR Tomlinson Limited, Techint Group, Terex Corporation, and Wirtgen Group Holding GmbH, among others. These companies are offering several products to governments as well as the private sector for performing mineral extraction processes. The products offered by the players are designed based on the industrial specifications and requirement for performing specific tasks. These players have a strong presence in the countries where the demand and availability of the minerals are high.

Technological advancements and innovations are expected to drive the mining machinery industry growth. Several technologies that are revolutionizing the industry include automation, Internet of Things (IoT), 3D imaging, and plasma technology. These machines are developed using materials and technologies that can withstand high temperature and pressure. The machines are exposed to high radiation and chemical substances that can directly affect the functioning of the parts. The players in the market are focusing on such challenges and are developing machines that can be used for the extraction of specific minerals or metals. Remote monitoring and control devices are integrated into these machines to provide careful observation of the processes and activities from centralized systems. It provides maximum efficiency, improves safety, decreases the variability, and allows better identification of performance issues. Such factors are expected to drive the market growth.

mining surplus | new and used mining equipment

mining surplus | new and used mining equipment

MiningSurplus.com features new and used mining equipment for sale from mining operations across Canada, the United States, South America, and Australia. MiningSurplus.com profiles surface, mill plant process and underground mining equipment from copper, lead, zinc, gold and coal mining operations. Please use the search tools below to search our new and used mining equipment and parts listings. Mining Equipment Search Search our equipment listings or select a category below to browse our listings. Equipment Search MobileDozers (71)Excavators (50)Graders (28)Haul Trucks (53)Loaders (38)Rotary Drills (4)Scrapers (29)Shovels (32)Other (66)UndergroundRock Bolters (3)Scissor Lifts (2)Scooptrams (22)Utility Vehicles (9)U/G Drills (13)U/G Trucks (19)Boom Trucks (2)Ventilation (10)Other (8)Mill ProcessConveyors (5)Crushers (9)Feeders & Screens (1)Filters & Thickeners (1)Flotation (1)Grinding Mills (10)Pumps (4)Other (8)SupportAir Compressors (2)Backhoes (1)Forklifts (5)Generators (2)Mobile Cranes (35)Tires (11)Trucks (62)Welders (1)Other (47)ElectricalHV SwitchGear (2)Instrumentation (1)Motors (22)Other (2)OtherAssay & Laboratory (5)Attachments (21)Tanks (4)OtherBuildings (7)Complete Plants (3)Construction (24)Major Components (15)Miscellaneous (10)Safety (1) Surplus Parts Search To search for parts, use the search field below or try our advanced search. Parts Search Mining Surplus proudly lists equipment from the following mining companies. Featured Listings Mobile - LoadersL-120 Volvo LoaderPrice: NegotiableMore InfoSupport - Mobile CranesIC80-3F CranePrice: $36,500.00More InfoMobile - Haul Trucks370E John Deere Articulated Dumper Truck SN 1DW370ETCEE658779Price: NegotiableMore InfoUnderground - U/G TrucksAD45B Haulage Truck (Dump)Price: NegotiableMore InfoUnderground - VentilationAMF 270H FanPrice: $3,600.00More InfoMobile - LoadersCAT 402E BackhoePrice: NegotiableMore InfoOther - Complete PlantsComplete 2200 TPD Copper / Zinc Mill Ore Process Grinding Plant and CrusherPrice: NegotiableMore InfoUnderground - U/G TrucksAD45B Haulage Truck (Dump)Price: NegotiableMore Info

recent projects the parker bay company

recent projects the parker bay company

The following are representative projects undertaken by Parker Bay. Interested parties may contact Parker Bay for additional information, but should be advised that in many instances client confidentiality limits disclosure of additional details.

OTR Tire Market Analysis & 5-Year Forecast: Estimate of the global market (annual shipments/consumption) for large off-highway tires used on mining trucks with payload capacities of 90 mt and greater by tire size, geographic region and mineral application; along with a forecast of the market. Tire requirements and consumption estimates for both radial and bias-ply tires. Tire sizes included in the analysis: 49, 51, 57 and 63 inch.

Product Development Survey & Market Analysis: Developed and conducted fax/phone survey for mining equipment supplier aimed at identifying potential customers demand for new generation of equipment along with customer requirements (e.g. features, scale, support, etc.). Project also included analysis and forecast of demand within context of existing products, end-user developments and related influencing factors.

Corporate Strategic Development and Planning Support: Working with themining market division of a large equipment supplier,Parker Bay provide extensive proprietary market research to define the parameters of the market for both the clients existing product offerings, and competitive and complementary equipment. Geographic and mineral market segments and major customer groups were define to provide the client with a comprehensive market definition from which to develop a long-term strategic plan.

Product Line Analysis, Survey & Forecast: An equipment supplier sought an independent appraisal of the market for one of their product lines to include extensive input from mines. Parker Bay developed a detailed questionnaire and conducted phone surveys withmines worldwide utilizing qualified in-country personnel to conduct the surveys. Results were incorporated into a broader market evaluation and used to develop a long-term forecast.

Company Analysis for Investment Appraisal: Provided detailed businessanalysis of mining equipment segment of multi-billion-dollar industrial conglomerate for investment banking firm. Report contained primary research and data on product offerings, markets, customer base and competition including detailed statistics on market size, geographic segmentation, and market share.

Merger Research: Worked with a large capital equipment company ($100MM+ revenues) being acquired by a major competitor to provide information needed for FTC filing and subsequent anti-trust review. This project involved working with the company being acquired and the Washington, D.C.-based law firm specializing in anti-trust work. The Parker Bay Company reviewed the companys internal documents and files, their sales/marketing data, and related information. Working with the anti-trust attorneys, arguments were developed and data compiled and analyzed to support the merger. Presentation materials were supplied to the client and attorneys for meetings with the FTC. The project entailed approximately 300 hours of work by the Parker Bay Company and culminated with FTC approval of the merger.

Used Equipment Valuation: A consultant working with an owner/operator of large materials-handling equipment sought assistance in determining the fair market value of seldom-traded used machinery. Parker Bay conducted an extensive search of published and internet sources, then contacted mining equipment manufacturers, equipment operators, usedmining equipment sales companies, and industry consultants/equipment specialists to determine the market potential and pricing for the subject used machinery if placed for sale.

Mobile Mining Equipment Database: This ongoing research project was initiated by Parker Bay in 1997 and involved the development of a PC-based file containing the current location of more than 105,000 pieces of largesurface mining equipment. More than 400 clients have availed themselves of this data in some form to utilize in their planning and marketing efforts. Based on thousands of hours of primary research, this database is a unique business tool available to industry participants through controlled subscription. For further details see:Equipment Database

global mining equipment market growth, trends, and forecasts 2021-2026 with competitive landscape analysis of caterpillar, komatsu, liebherr group, sandvik, hitachi, & atlas copco - researchandmarkets.com | business wire

global mining equipment market growth, trends, and forecasts 2021-2026 with competitive landscape analysis of caterpillar, komatsu, liebherr group, sandvik, hitachi, & atlas copco - researchandmarkets.com | business wire

The COVID-19 pandemic had an immediate impact on the global economy and that impact goes across all industries, including mining. Significant price drops were observed across major commodities, while in some cases, prices remain passive. For example, demand for metallurgical coal and thermal coal has decreased, while demand for gold and iron ore has increased.

However, the market is expected to witness significant growth during the forecast period as the Increasing use of electric machinery in underground mining and increasing demand for metals and commodities occupy a major share in the market. The increasing need for mineral fertilizers to improve agricultural yield, rise in construction of roads & railway tracks through hilly areas are expected to fuel the demand for mining activities in emerging countries such as India and China.

Ongoing digital mine innovation is expected to transform the key aspects of mining over the next few years. Increased investment, along with government support for the digital mine innovation, is expected to trigger the demand for mining equipment over the forecast period. Improvements and innovations in extraction technologies and equipment have contributed to the betterment of ore grades, thus extending the life of older mines.

Technological advancements and innovations are expected to drive the mining machinery industry growth. Several technologies that are revolutionizing the industry include automation, Internet of Things (IoT), 3D imaging, and plasma technology. These machines are developed using materials and technologies that can withstand high temperature and pressure. The machines are exposed to high radiation and chemical substances that can directly affect the functioning of the parts. The players in the market are focusing on such challenges and are developing machines that can be used for the extraction of specific minerals or metals.

The use of telematics in the mining industry has proven to be a game changer. Internet of things (IoT) sensors provide feedback to the fleet manager, which ensures lower downtime due to malfunctions and helps plan maintenance activities. With an increasingly competitive environment across all industries, companies are constantly looking for process optimization, which, in turn, has increased the demand for automation in the mining industry. Drones are being used for exploration and surveillance of mines.

Drones ensure that areas are clear before blasts, track post-blast fumes, and improve the overall safety of sites. BHP (Australia) has been using drones at its Australian mines for surveillance. Automation and teleoperation systems in the mining industry significantly improve productivity and safety. Thus, sales of new mining machinery synced with telematics solutions are expected to drive the mining machinery market.

The Mining Equipment Market is characterized by the presence of numerous international and regional players, resulting in a highly competitive market environment. Major players in the mining industry are now providing on-site solutions like components and equipment repair and services that include part support and even data analytics support. Many competitors in the mining equipment market adopted acquisition and business expansion as their key developmental strategies to develop their geographical foothold and promote their product technologies.

ResearchAndMarkets.com Laura Wood, Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

ResearchAndMarkets.com Laura Wood, Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

sales forecasting: meaning, importance and methods

sales forecasting: meaning, importance and methods

After reading this article you will learn about:- 1. Meaning of Sales Forecasting 2. Importance of Sales Forecasting 3. Factors Considered 4. Types 5. Methods 6. Elements 7. Procedure 8. Selection 9. Uses 10. Statistical Data 11. Applications.

Any forecast can be termed as an indicator of what is likely to happen in a specified future time frame in a particular field. Therefore, the sales forecast indicates as to how much of a particular product is likely to be sold in a specified future period in a specified market at specified price.

Accurate sales forecasting is essential for a business house to enable it to produce the required quantity at the right time. Further, it makes the arrangement in advance for raw materials, equipments, labour etc. Some firms manufacture on the order basis, but in general, firm produces the material in advance to meet the future demand.

Forecasting means estimation of quantity, type and quality of future work e.g. sales. For any manufacturing concern it is very necessary to assess the market trends sufficiently in advance. This is a commitment on the part of sales department and future planning of the entire concern depends on this forecast.

The management of a firm is required to prepare its forecast of share of the market that it can hope to capture over the period of forecasting. In other words, sales forecast is an estimate of the sales potential of the firm in future. All plans are based on the sales forecasts.

Thus we can define sales forecasting as, estimation of type, quantity and quality of future sales. Goal for the sales department is decided on the basis of this forecast and these forecasts also help in planning future development of the concern. The sales forecast forms a basis for production targets.

Thus we can say that a sales forecast is an estimate of the amount of sales for a specified future period under a proposed marketing plan or programme. Sales forecast can also been defined as, an estimate of sales in terms of money or physical units for a specified future period under a proposed marketing plan or programme and under an assumed set of economic and other forces outside the unit for which the forecast is made.

To assess demand, it is the main factor to know about the existing and new competitors and their future programme, quality of their product, sales of their product. Opinion of the customers about the products of other competitors with reference to the product manufactured by the firm must also be considered.

Accurate sales forecasting is essential for a business house to enable it to produce the required quantity at the right time. Further, it makes the arrangement in advance for raw materials, equipments, labour etc. Many firms manufacture on the order basis, but in general, every firm produces the material in advance to meet the future demand.

This type of forecasting can be defined when it covers a period of three months, six months or one year. Generally, the last one is most preferred. The period is dependent upon the nature of business. If the demand fluctuates from one month to another, forecasting may be done only for a short period.

The forecasting that covers a period of 5, 10 and even 20 years. The period here also depends upon the nature of business, but beyond 12 years, the future is assumed as uncertain. But in many industries like ship-building, petroleum refinery, paper making industries, a long term forecasting is needed as the total investment cost of equipment is quite high.

This is direct method for making forecasting for short-term, in which the customers are asked what they are thinking to buy in near future say, in the coming year. In this method all the burden is with consumers, which may misjudge or mislead or may be uncertain about the quantity to be purchased by them in near future.

In this method forecasting depends upon the salesmans estimation for their respective areas, because the sales-man are closest to the customers, hence can estimate more properly about the consumers reaction about the product and their future requirements.

All the estimates of salesmen are consolidated to know the total estimate of the sales. This final estimate then goes through severs checking to avoid undue imagination which is done many times by the salesmen.

The revised estimates are then again examined in the light of factors like expected change in design, change in prices, advertisements, competition, purchasing power of local people, employment, population etc.

The time series forecasts are the demand characteristics over time. These time series data are analysed for forecasting future activity levels. Time series data refer to a set of values of some variables measured at the equally spaced time intervals such as monthly production levels, demands in the market etc.

Business cycle refers to the large deviation to actual demand values due to complex environmental influences. Refer Fig. 42.7. These are similar to the seasonable components except that seasonality occurs at regular intervals and is of constant durations whereas it varies in both time and duration of occurrence.

In long term forecast (more than 2 years) seasonal factors are ignored and focus is given on trend component with a minor emphasis on business cycle. In medium term forecasts (few months to 2 years), the trend factor becomes less important and the seasonal and random factors are given more importance.

For short duration (one week to 3 months) main concern is random fluctuations. Generally when a business concern is in operation, combination of trend and seasonal variations are given importance. Such a pattern is shown in Fig. 42.8.

4. Forecast must be made in terms of product groups and broken for individual products, the division may be according to the sizes, brands, cables, colours etc. A typical example show how the product group is divided.

3. With reliable sales forecast it is possible to produce at an average rate so that plant capacity and man power is fully utilized during the entire period. Thus the forecasting enables to overcome seasonal variations.

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