Asia dominates global mining equipment industry

The global mining equipment industry is expected to witness steady growth to reach an estimated US$104 billion in 2017 with a CAGR of 7.5% over the next five years. The Asia Pacific (APAC) region dominates this industry and represents 55% of total industry size.

The industry is primarily driven by strong demand for the output of various types of mining, as well as high commodity prices led by economic growth and technological development. Surface mining equipment is the industry’s major segment and contributes the majority of industry revenue. A combination of factors such as high demand for power generation, positive impact of mining on GDP, increasing demand for metal and mineral mining, and new technology in equipment affects market dynamics significantly.