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Underground Mining Equipment Market To Reach US$ 18 Bn By 2023

According to a new market report published by Credence Research Inc “Asia Pacific Underground Mining Equipment Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023,” the demand for underground mining equipment in Asia Pacific is correlated with the rise in number of underground mining operations. Asia Pacific is currently the largest underground mining equipment market worldwide. This dominance is majorly on account of huge demand from countries including China and Australia. On the other hand, countries including India, Indonesia, Malaysia, Vietnam, etc. are seen as untapped markets with enormous latent potential and hence are expected to offer significant growth and investment opportunities for both mine operators and underground mining equipment manufacturers during the forecast period 2016 – 2023.

The purpose of the report is to illustrate the state of the market of Underground Mining, to present actual information about the volumes of production, exports, imports, consumption and the state of the market, the changes that took place in 2017, and also, to build a forecast for the growth of the industry in the medium term until 2026.

Browse here for full report: https://www.credenceresearch.com/report/asia-pacific-underground-mining-equipment-market

Market Insights

Australia is expected to be a leader in global mining innovation as 60% of the mining software used globally is produced in the country. It is therefore expected to be the leading exporter of mining technology not only in Asia, but also globally. Currently, Australia is house to over 100 exploration and mining software companies. With continual government support for innovation and strong demand from the mining sector, the miners in the country will continue to be front-runners in the race to utilize cutting-edge mining technology.

Asia Pacific represents the most attractive business destination for underground mining equipment manufacturers worldwide. There lie comparatively superior growth and investment opportunities in markets like India and China than matured markets of developed economies. The anticipated growth opportunity is a reflective of the growing urbanization, gradual shift towards underground mining operations by mining operators, and increased adoption of state-of-the-art equipment. The replacement of obsolete equipment by the advanced equivalents is also expected to keep demand afloat in China and Australia.

Apart from these countries, emerging economies including Indonesia, Myanmar, and Vietnam are also expected to register strong growth in the coming years. With investor friendly laws and regulations expected to be enacted, numerous exploration and production projects are expected to be approved and start within next few years in these countries.  Vietnam, for instance, is following parallel development path as China by making structural reforms and easing business regulations. This, in turn is expected to have positive impact on the inflow of foreign investments and hence commissioning, exploration, and operation expansion of new mining projects in the country.

Why was the report written?

This report is the result of an extensive survey drawn from Credence Research’s exclusive panel of leading global market industry executives; it provides data and analysis on buyer investment, acquisition, and developments within the global market research. It includes key topics such as global Underground Mining buyer expenditure and procurement behaviors and strategies and recognizes the threats and possibilities within the industry, economic outlook trends, and business confidence within global industry executives. Most secondary research reports are based on general industry drivers and do not understand the industry executives’ attitude and changing behaviors, creating a gap in presenting the business outlook of the industry; in an effort to bridge this gap, Credence Research created this primary research-based report by gathering the opinions of multiple stakeholders in the value chain of the global industry.

What is the current market landscape and what is changing?

Executives from the global industry anticipate an increase in levels of consolidation, with 55% of respondents projecting an increase in merger and acquisition (M&A) activities in 2017.

The report on the market of Underground Mining contains:

Analysis and forecast of Underground Mining market dynamics;

Analysis of domestic production, market shares of the main market players;

Analysis of exports and imports;

Analysis of factors, leading the development of the Underground Mining market;

Assessment and forecast of Underground Mining market development;

Financial and business profiles of the leading companies in the Underground Mining industry.

Scope

– Up to date working Underground Mining data by major regions in the world, the forecast of planned capacity additions by 2026

– The annual breakdown of capital expenditure spending on proposed Underground Mining for the period 2018 to 2026

– Planned Underground Mining additions and capital expenditure spending by key countries and companies across the world

– Planned capital expenditure spending on new Underground Mining projects by region, key countries, and companies

– Details of major planned Underground Mining projects in the world up to 2026

Also you can request us for sample in pdf with more details and graph: https://www.credenceresearch.com/sample-request/58363

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