WorldWide Drilling Resource

Increased Exploration Activities a Plus for Equipment Industry Adapted from Information by Grand View Research According to a recent study by Grand View Research, the global mining equip- ment market size is expected to reach $95.14 billion by 2022, an increase of about 4%. Growing mining activities on a global level are expected to be the key driving force for the market over the next six years. Mineral extractions are particularly preva- lent in Asia Pacific nations of China, India, and Australia. In addition, iron ore projects planned in Brazil, Russia, and Africa are expected to positively impact demand. Key product segments analyzed and reported in the study include drills and breakers; crushing, pulverizing, and screening equipment; mineral processing machinery; surface machinery; and underground mining machinery. Surface mining equipment accounted for over 30% of the global revenue in 2014, and is expected to continue being the dominant product segment. The growing demand for iron ore and bauxite, as well as the numerous iron ore projects planned worldwide, will help fuel the demand for bulldozers, service and bulk trucks, front-end loaders, dump trucks, and mobile maintenance equipment. Underground mining machinery also accounted for considerable market share in 2014, and includes cable shovels, hydraulic shovels, longwall mining machines, as well as continuous machines. Other equipment includes parts for coal drills, portable drill rigs, as well as parts for roof bolters. Key application segments analyzed in the report include metal, mineral, and coal mining. Metal mining is expected to remain the largest consumer over the forecast period increasing by 4.4%, primarily due to increasing exploration activities, as well as high demand for precious metals such as gold, silver, and platinum. The growing population, coupled with increased demand for coal used for heating and electricity generation should make coal mining a fast- growing segment. The minerals market is expected to experience relatively slow growth. China is expected to dominate new mining equipment demand; it is the major source of bauxite and iron ore. The Chinese market has benefitted from high domestic demand from metal and coal-mining indus- tries, with growth forecast of over 5%. North America and Europe mining equip- ment markets are estimated to lose share over the next few years, due to barriers such as government restrictions on coal mining and coal-fired power plants in the United States. WWDR photo . *1 .5 0 (+1! &2".6/ !$" +*2"*0&+* "*0". 0 (+1! %"!1(" 1*! 5 4%& &0+. "0 1, + .! +# &." 0+./ ""0&*$ *! +/,&0 (&05 +*! 5 ,! 0" *! ((%&*"5 " 01." . !" %+3 !&"/ .+$. ) ),(+5"" .+$. ) *-1"0 *! /&*+ &$%0 1"/! 5 ," '"./ *! ( //"/ **1 ( ""0&*$ /0 ."/&!"*0/ ""0&*$ *! &* ( + .! ""0&*$ "!*"/! 5 (1) &*$ "#."/%". +1./" +. )+." &*#+.) 0&+* 2&/&0 +1. " /&0" 333 )33 +.$ &**"/+0 0". "(( //+ & 0&+* *"/+0 0". 00%% **1 ( . !" %+3 +*2"*0&+* 36 OCTOBER 2015 WorldWide Drilling Resource ®