Mining can be defined as the extraction of minerals and non-renewable resources such as natural gas, petroleum, limestone, coal, and many more. Mining also includes the extraction of metals, coal, oil shale, gemstones, limestone, chalk and others. Increasing demand for metal and mineral commodities and increasing consumption of natural resources, such as coal, diamond, and uranium is fueling the growth of mining equipment. The major driver influencing the growth of mining equipment is the high performance equipment, increasing usage of coal and growth in demand for resource exploration, whereas high cost associated with the mining equipment can act as a restraining factor in the market. Increasing constructions of roads and railway tracks will presents various opportunity in the market in the coming years.
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Top Key Major Players:-
- Caterpillar Inc.
- Komatsu Ltd.
- Sandvik
- Joy Global
- Hitachi Co. Ltd.
- Atlas Copco
- AB Volvo
- Doosan Group
- Metso