Mining Equipment Manufacturing in China - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-18 10:35:01
The Mining Equipment Manufacturing industry in China mainly provides mine excavation equipment, underground transportation equipment and mineral washing and screening equipment to coal mines, nonferrous metal mines, ferrous metal mines, non-metallic mines and other mines.
As China´s economy is heavily reliant on manufacturing and the energy sector, demand for natural resources drives the need for mining equipment. The industry has expanded rapidly in recent years due to very high domestic demand from China´s Coal Mining and metal mining industries. Although China imports large volumes of coal, iron ore, bauxite and other resources, the government has authorized greater mining levels in recent years.
Industry revenue is expected to increase 10.0% in 2013 to $59.0 billion, with annualized growth of 21.4% over the past five years. Domestic demand is expected to total $55.1 billion in 2013, up 9.5% from the previous year.
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