The mining equipment market size is anticipated to record a valuation of $90 billion by 2027, according to the most recent study by Global Market Insights.
The rising demand for metals from manufacturing and construction industries is driving the market demand for several metals such as carbon steel, aluminum, stainless steel, copper, and iron.
The shifting trend toward automated machinery from manual processes to enhance the efficiency and productivity of mining operations will aid the demand for automated mining equipment over the forecast period.
COVID-19 led to an unprecedented downswing in all economic activities including mining operations, affecting the demand for mining equipment, and the sealing of international borders and restrictions on trade by several countries in Asia Pacific and Europe impacted the market demand mining equipment during the pandemic period.
Source: miningglobal.com
