REPORT: Growth Forecasted in Mining Equipment Market
The worldwide mining equipment market is forecast to expand 8.6 percent annually in the next three years to U.S. $135 billion, spurred by avid demand for mined materials in China, India, and several other developing nations as industrial output increases. According to new study by GrandView Research, by 2020, the global market for mining equipment is expected to reach U.S. $147.69 billion.
Resource companies are looking to capitalize on new sales opportunities in industrializing and developing countries such as Brazil, China, and India, with China being the largest purchaser. Additionally, demand for machinery such as drilling and earth moving is expected to boost the need for shredders, loaders, and crushers in nations with large deposits of industrial materials, including Australia, Chile, Indonesia, and Peru.
The largest sales growth in the next few years will be in the Asia/Pacific market, which is being fueled by substantial investments in new mine production capacity in several nations. Strong gains will also be recorded in Central and South America, as mining companies look to develop the region's sizable deposits of bauxite, copper, and iron ore, according to a report from the Freedonia Group. The Africa/Mideast region will post the next strongest market advances, followed by Eastern Europe, Western Europe, and North America.
The demand for drills and breakers will continue to increase as will the need for crushing, pulverizing, and screening equipment, which is used in most mining operations. As the world mining output increases so will the strong sales advances for these products.
According to the GrandView Research study, surface mining equipment accounted for over 36 percent of the global market in 2013; and metal mining is expected to be the largest and fastest growing application market over the next six years. In addition, Asia/Pacific accounted for more than 59 percent of global mining equipment demand in 2013, and is expected to dominate the market through 2020.
Major mining equipment companies such as Caterpillar Inc., Komatsu Limited, Hitachi Construction Machinery, Sandvik , and Atlas Copco have the manufacturing and production line capacity, safety qualifications, innovation and technological development, and connections in the emerging markets to capitalize on the growing demand.
The emerging markets need reliable equipment, but are also demanding machinery that is less harmful to the environment and more energy efficient. The companies that provide hybrid technology and embrace sustainability practices will emerge as the leaders for supplying the growing markets.
For instance, Hitachi Construction Machinery has shifted production toward hybrid technology in the earthmoving equipment sector. The new Hitachi hybrid excavators use electric hybrid technology in conjunction with swing momentum to regenerate energy provides the ultimate platform to reducing fuel consumption.
At Caterpillar, the company has developed a hybrid underground mining vehicle that generates less air pollution when combined with proper ventilation. “In the next decade, the most successful companies will be those that integrate sustainability into their core businesses. That’s what we’re doing at Caterpillar, and we are helping our customers do the same,” Caterpillar said in a released statement.
Atlas Copco has introduced a range of electric underground loaders and electric underground trucks, with the company is calling the new “green line.” The new machines reduce emissions to a minimum and contribute to higher productivity.
“Electric power is the future,” said Erik Svedlund, product manager for underground electric loaders and trucks at Atlas Copco. “Environmental considerations are very important. Just by replacing a single diesel loader with an electrically powered loader reduces Co2 emissions equivalent to 140 cars a year. Our new electric vehicles are up to 70 percent more energy efficient than diesel options.”
Net zero benefits the mining industry and the environment
How do we get the world to net-zero faster?
Emitwise’s founders, Mauro Cozzi, Eduardo Gómez and Ben Peddie, approached a network of more than 100 of the world's largest enterprises and asked their CEOs, CFOs, and sustainability managers the big question: How do we get the world to net-zero faster? The challenge many shared was the lack of timely and accurate emissions data to enable strategic decisions. Companies often relied on annual audits of their carbon footprint for carbon accounting purposes. However, static yearly results were outdated upon publishing.
Emitwise saves companies an average of 260 working days a year by automating their scope 1, 2 and 3 emissions data. With the added benefits of clean audit trails and auto-populated accounting reports in line with GHG Protocol, all at the click of a button. Their easy to use solution enables businesses to quickly identify the carbon hotspots to target, and the precise real-time data empowers teams to remain agile and respond effectively, making achieving those goals possible.
Unique AI Technology
Emitwise’s unique AI technology empowers businesses to automatically measure, report and reduce their carbon footprint across their operations and supply chain, future-proofing companies for a zero-carbon world. It is the only solution that enables companies to fully automate their carbon accounting across all business units and suppliers, therefore liberating them from the drudgery of collecting and processing emissions data.
By using artificial intelligence to precisely measure emissions in real-time, businesses can identify and tackle carbon hotspots swiftly, enabling them to devise a trackable roadmap to net-zero carbon. At the same time, accurate audit trails and auto-populated annual reports ensure that companies comply with international reporting requirements, and align businesses with global climate targets to mitigate risk across their operations and supply chain.
The Oren Marketplace
Environmental management, social license to operate, safety, renewable energy to lower emissions and operational efficiency for mining can be supported by a range of digital solutions enabling dynamic operations. To address these issues, Shell and IBM joined forces to create the Oren Marketplace – the first B2B solutions platform for the mining sector.
With the adoption of many of the digital solutions offered through Oren, mining companies can adapt in real-time to risks or adjust plans ahead of a problem occurring. The goal is a shift towards proactive management as the optimal outcome for all stakeholders – community, shareholders, and employees.
Emitwise was founded with the goal of helping industries across all sectors reduce their carbon footprint. Similarly, Shell aims to become a net-zero emissions energy business by 2050, or sooner, in step with society and its customers. And Oren is focused on offering innovative products and services that can help mining companies track and reduce their emissions.
“Oren is the starting point for how we help our mining customers to de-carbonise,” explains Carol Chen, Global Lubricants Marketing, Vice President, Shell. “It’s our ambition to work with sectors like mining to help them find their own pathway to net-zero emissions through collaboration. The Oren marketplace offers a great opportunity for collaboration between the miners and technology companies that are joining this digital marketplace.”
Emitwise will be showcasing its vision for a net-zero future live from Lisbon at this year’s Web Summit. Bringing together the people and companies redefining the global tech industry, the online event welcomes 100,000+ attendees from around the world to hear from more than 800 speakers and view offerings from 2,500 startups covering a vast range of topics from Data Science and Climate Change to AI and Machine Learning. To find out more and book your ticket visit
Emitwise is one of many solutions providers on the Oren platform seeking to address the pain points and environmental concerns of heavy industries like mining. To discover a range of solutions that can further support your operation’s digital transformation and commitment to sustainability, visit the