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Demand for Mining Equipment to Grow

Published Tuesday, April 01, 2008

Global demand for specialized mining machinery and equipment (including separately sold parts) is projected to increase 5.9% per year through 2011 to $33.6 billion. These and other trends are presented in “World Mining Equipment,” a study released by The Freedonia Group Inc., a Cleveland-based industry research firm. According to the report, advances will be fueled by continued 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 important, these nations will continue ...

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