Mining Equipment Market Is Anticipated To Reach At A CAGR 11.7% For The Forecast Period From 2018 To 2025 : Grand View Research Inc.
San Francisco, 26 April 2019: The Report Mining Equipment Market Size, Share & Trends Analysis Report By Equipment (Surface, Underground Mining), By Application (Metal, Non-Metal, Coal Mining), By Region (MEA, APAC), And Segment Forecasts, 2018 – 2025 The global Mining Equipment Market size is anticipated to reach USD 284.93 billion by 2025, according to a new report by Grand View Research, Inc. The market is projected to witness a CAGR of 11.7% over the forecast period. Introduction of new equipment based on automation technologies is expected to open new avenues for growth in the mining sector. High risk associated with mining operations has resulted in technological innovations in equipment manufacturing. Companies including Rio Tinto and BHP Billiton have deployed a fleet of driverless trucks and drills with GPS technology at their mining sites. Additionally, OEMs such as Caterpillar Inc. and Komatsu Ltd. are retrofitting their existing fleet of trucks and drills with