The Surface Mining Equipment market report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
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One trend in the Surface Mining Equipment market is environment-friendly mining activities. Mining can be made environment-friendly by developing new strategies and practices, and integrating these practices to reduce the negative environmental impacts of mining operations.
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The analysts forecast global surface mining equipment market to grow at a CAGR of 3.24% during the period 2017-2021.
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This report covers the present scenario and the growth prospects of the global surface mining equipment market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
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This report, Global Surface Mining Equipment Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years.
The report also includes a discussion of the key vendors operating in this market.
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Key players in the global surface mining equipment market: Atlas Copco, Caterpillar, Komatsu, LARSEN & TOUBRO, and Sandvik. Other Prominent Vendors in the market are: Hitachi Construction Machinery, Vermeer, JCB, Vale, XCMG, Terex, SANY GROUP, Metso, Kobelco Construction Machinery, AB Volvo, Deere, and WIRTGEN GROUP.
According to the surface mining equipment market report, one driver in the market is rise in demand for housing projects globally. The housing market accounts for a major share of the global construction market.
Increasing economic growth, purchasing power, consumer confidence, and urban population will exponentially increase the demand for residential complexes and projects in the forecast period. This demand will further be driven by decreasing unemployment rate and interest rates on loans.
Decreasing interest rates coupled with increasing income levels of the population will encourage the need for buying houses, both as a necessity and from an investment perspective.
Further, the surface mining equipment market report states that one challenge in the market is environment regulations for mining activities. Mining has several negative impacts on the environment, which necessitates the application of strict environmental regulations on mining companies.
The environmental impacts of mining include loss of biodiversity, contamination of water resources, the formation of sinkholes, erosion of exposed hillsides, soil erosion, soil pollution, and others. In addition, mining affects the health of people residing near mining sites.
Mining companies in many countries are forced to follow strict environmental regulations or even ban mining activities during certain periods of each year.