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(Construction.IndustryNews247.Com, July 19, 2018 ) Mining equipment is used to extract natural resources such as coal, metals, and minerals. Some of the minerals and metals extracted include iron ore, bauxite, titanium, copper, gold, platinum, sand, gravel, salt, and other non-metallic products. Rental mining equipment constitutes a significant share of the global mining equipment market. The high cost of capital, maintenance cost, and overhead cost attached with the ownership of mining equipment have compelled end-users to rent mining equipment instead.
Publisher's analysts forecast the global mining equipment rental market to grow at a CAGR of 3.77% during the period 2017-2021.
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Research analysis on the global mining equipment rental market identifies that the increasing demand for coal will be one of the major factors that will have a positive impact on the growth of the market. There is a rising demand for coal from the developing countries due to the increased demand for energy and power. The government of India is focusing on boosting the domestic production of coal, which will help in lowering its dependence on coal imports. Additionally, the rise in the construction of roads, buildings, and bridges also fuel the demand for coal since it is used in steel and cement manufacturing. This will escalate coal mining activities, which will subsequently fuel the demand for mining equipment for rent.
Key vendors -Atlas Copco -Caterpillar -Hertz Equipment Rental -Komatsu -Sunbelt Rentals
Other prominent vendors -AMECO -EMECO -Eqstra -H&E Equipment Services -McDowell -United Mining Rentals -United Rentals
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Market driver -Rental advantages of mining equipment
Market challenge -CAPEX depreciation in the mining industry
Market trend -Emergence of deepsea mining
Fundamentals of Table of Content:
PART 01: Executive summary PART 02: Scope of the report PART 03: Market research methodology PART 04: Introduction PART 05: Global construction market PART 06: Market drivers PART 07: Market trends PART 08: Global AEC market PART 09: Market segmentation by product PART 10: Geographical segmentation PART 11: Market challenges PART 12: Impact of drivers and challenges PART 13: Five forces model PART 14: Key vendor analysis PART 15: Key vendor profiles
Complete report is available @ http://www.reportsweb.com/global-mining-equipment-rental-market-2017-2021
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