DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/xlk2n2/global_electric) has announced the addition of the "Global Electric Shovel Market 2015-2019" report to their offering.
This report covers the present scenario and growth prospects of the global electric shovel market for 2015-2019. The report focuses on the revenue generated from the sale of electric shovels and the overall condition of the global mining sector. The future performance of the global electric shovel market is forecast based on the predicted CAGR after a detailed analysis of the conditions prevailing in the market. In addition, a geographical analysis of the global electronic shovel market was performed and, accordingly, the key leading countries have been found to be in EMEA, APAC, and the Americas. In addition, the report discusses the major drivers that influence the growth of the market, the challenges faced by vendors and the market at large, as well as the key emerging trends.
Demand for mining equipment is increasing as there is rapid growth in the mining industry. The competitive nature of the market is seeing the vendors' focus shift toward energy- and fuel-efficient equipment to gain a competitive edge. This has resulted in enhanced R&D investment by organizations to manufacture efficient equipment.
According to the report, increasing economic activities coupled with urbanization and industrialization in emerging economies such as China, India, and other ASEAN countries, among others, are creating an unprecedented demand for mineral-based commodities because of their wide applications in construction and manufacturing industries. In India, construction of the 100 smart cities and investment in railway infrastructure is increasing the demand for steel, iron, and aluminum. Also, demand for coal for power generation is increasing substantially in these countries. This is creating a demand for mineral-based raw materials, resulting in an increase in mining activities. Thus, the demand for mining equipment such as electric shovels is expected to rise in the forecast period.
Further, the report states that environmental control regulations are affecting the market growth.
Key Vendors
- Caterpillar
- Hitachi Construction Machinery
- Komatsu
- P&H Mining Equipment
Other Prominent Vendors
- Liehberr
- OMZ
For more information visit http://www.researchandmarkets.com/research/xlk2n2/global_electric
