Global underground mining equipment market estimated to reach over US $24 billion by 2019

Technavio, Nov 09, 2015

Technavio has released updated information on the mining market, with the publication of its new market research report, global underground mining equipment market. The global underground mining equipment market is expected to grow at a CAGR of around 7% between 2015 and 2019. Rapid changes in energy efficiency regulations by various governments across the world have pushed mining companies to adopt energy-efficient underground mining equipment. The APAC is the highest revenue contributor to the global underground mining equipment market, followed by the Americas and EMEA. The growing mining activities in developing countries of APAC such as China, India, and Australia, are the major factors influencing the growth of the market. Also, the growing demand from coal industry will drive the underground mining equipment market.

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