According to Goldstein Research, top economy planning, intensified efforts from government authorities, tackling high corporate debt and shedding unnecessary production capacity in mining drives the China Underground Mining Equipment Market.
China underground mining market is segmented by mining method into longwall mining, block caving, sublevel caving, room and pillar mining, cut and fills mining, shrinkage stoping and others. Among these, longwall mining commands the highest demand owing to its high production rate, safe method for operators and high degree of mechanization.
The market of China underground mining equipment accounted for USD 10 Billion in 2016 and further the market is predicted to register a modest CAGR of 7% over the forecast period i.e. 2016-2023.
Bad Money Driving out Good Money
Due to bloated coal and steel production in China only 47% of national steel target and 38% of coal target had been achieved in 2015. Accusations about government intervention allowing Chinese steel producers to sell overseas at a discount price, aiding a collapse in global price have led to a series of anti-dumping investigations.
“China Underground Mining Equipment Market Outlook 2024” contains detailed overview of the China underground mining equipment market in terms of market segmentation by mining method and application.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
This market report also includes competitive outlook of some of the major players of the China underground mining equipment market which includes profiling of companies like Caterpillar Inc., Komatsu Mining Corp, Atlas Copco, Metso Corporation, etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments. Overall, the report represents comprehensive synopsis on the China underground mining equipment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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