Overview of the global mining equipment rental market

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. Technavio's market research analysts predict that this market will generate a revenue of more than USD 64 billion by 2021.

In terms of geography, APAC contributed the largest revenue share of this market during 2016. Supported by government policies, extensive natural resources, and R&D in mining technologies and equipment, the mining industry is witnessing growth in countries such as Australia. This growth of the mining industry will propel the market's growth prospects in this region.

Competitive landscape and key vendors

With the presence of many local and region vendors, this market appears to be highly competitive. The vendors in the market are focusing on product differentiation and upgrading their product portfolio. Large rental companies are focusing on M&As to strengthen to sustain the competition in the market.

The leading vendors in the market are -

• Atlas Copco
• Caterpillar
• Hertz Equipment Rental
• Komatsu
• Sunbelt Rentals

The other prominent vendors in the market are AMECO, EMECO, Eqstra, H&E Equipment Services, McDowell, United Mining Rentals, United Rentals, and SMS Rental.

Segmentation by equipment type and analysis of the mining equipment rental market

• Surface mining equipment
• Crushing, pulverizing, and screening equipment
• Mineral processing machinery
• Underground mining equipment
• Mining drills and breakers

During 2016, the surface mining equipment segment accounted for the major shares of this market. Surface mining is used to extract metals and minerals that are near the surface of the Earth. The segment includes equipment such as dozers, trucks, excavators, loaders, and shovels and can also be used in other sectors such as construction.

Segmentation by application and analysis of the mining equipment rental market

• Coal mining
• Metal mining
• Mineral mining

The coal mining segment accounted for the major shares of this market during 2016. This is mainly due to the increasing demand from manufacturing plants which also use coal in ovens and industrial furnaces. Additionally, the growing demand from many developing economies, due to the growing urbanization which fuel the need for power will also fuel the growth of the coal mining equipment market segment.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global mining equipment rental market?
• What are the key market trends impacting the growth of the global mining equipment rental market?
• What are the challenges to market growth?
• Who are the key vendors in the global mining equipment rental market?
• What are the market opportunities and threats faced by the vendors in the global mining equipment rental market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global mining equipment rental market?

Technavio also offers customization on reports based on specific client requirement.

This upcoming research report on the global mining equipment rental market offers insights into the major trends and forthcoming drivers influencing the growth of the heavy industry sector. Our reports for the heavy industry also follow a scrupulous data collection methodology and offer an extensive analysis of fast growing market segments like unit operations.

By taking into account the dynamically changing market size, surging demand for various segments of the unit operations sector, the market research professionals at Technavio present an all-inclusive picture of the global mining equipment rental market for the period of 2017 to 2021. Furthermore, our research practices support clients develop impactful growth strategies and keep pace with the continually changing market dynamics. This market research report also presents an extensive analysis of various products and services based on the insights from the information gathered from specific resources such as channel partners and market stakeholders.

This forthcoming market research report on the mining equipment rental market also covers vendors like Atlas Copco, Komatsu, Caterpillar, Hertz Equipment Rental and Sunbelt Rentals. Furthermore, to present clients with opportunities to expand in niche markets, this report on the mining equipment rental market also covers geographies like the Americas, APAC, and EMEA.

The upcoming industry research report for the mining equipment rental market also categorizes the key drivers, prominent trends, along with the imminent restraints that the unit operations sector currently experiences. This upcoming report on the mining equipment rental market also presents insights into the rapidly changing competitive landscape to give clients a complete picture of the forthcoming events within the heavy industry sector. Technavio also offers in-depth market assessments into the sectors such as tools and components and construction.

Our market research methodology for the mining equipment rental market

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