Worldwide Mining Equipment Industry outlook

World Mining Equipment to 2013

Global demand to increase over 4% yearly through 2013
Global demand for mining equipment is projected to increase over four percent per year through 2013 to exceed $60 billion. Despite a sluggish outlook in the shorter term, recovery is expected in the mining industry due to rising demand for commodities such as iron ore and copper. In addition, the ongoing global thirst for energy will boost global coal output. China and India will be leading sources of mining equipment demand. However, just as importantly, these nations will continue to fuel demand for mined products throughout the world, thereby providing opportunities for machinery producers. ( http://www.bharatbook.com/Market-Research-Reports/World-Mining-Equipment.html )

Asian markets now dominate other regions
China has shown strong growth in mining equipment demand, a direct result of investment in its local mining industry. For example, coal output more than doubled from 1998 to 2008, reflecting the nation’s intense need for energy. China is also a major source of commodities such as iron ore and bauxite. Other major Asia/Pacific markets for mining equipment include Australia and India. Like China, India has experienced major growth in coal output in recent years. Australia, a leading producer of bauxite and iron ore, is a major source of commodities for its developing Asian neighbors.

Developing areas to exhibit above-average growth
Eastern Europe, with extensive mineable resources, is projected to exhibit above average growth in mining equipment demand, along with developing areas of Asia, the Africa/Mideast region and Latin America, with the mature markets of Western Europe and North America trailing. Within the latter two regions, however, are some fairly notable global mining powers, including the US and Canada, each with an abundance of natural resources; and Germany, which is a major source of coal.

China has become world’s largest equipment producer
China has quickly emerged as the world’s largest producer of mining equipment, due in large part to the nation’s growing mining industry. The other largest producers of mining equipment are generally found in the United States and the industrialized nations of Western Europe. Such countries have a long history and extensive expertise in the development of capital equipment industries of all types, which many have leveraged in mining machinery.

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