Latin America
Mining Equipments
Market
Share, Global Trends,
Analysis, Research, Report,
Opportunities,
Segmentation and Forecast,
2014-2020
Future Market Insights
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Report
Description
Report Description
The mining industry is expected to witness growth with a single digit CAGR over the next six
years on account of the further expanding demand for metal and mineral commodities. Latin
America accounted for about 8% of the global mining equipment demand in 2013 and its
contribution towards global mining equipment sales was registered at 15% for the same year.
The region serves as the prime destination for mining exploration and investment at a global
level.
The key reason which has accelerated the growth of the Latin American mining equipment
market is the enhanced demand for the consumption of natural resources. Presently, the region
produces about 45% of the global copper, 21% of the global zinc, 50% of the global silver and
26% of the global molybdenum production. In addition, foreign investment, especially from
China, US, Canada and Australia, plays a significant role in the growth of the Latin American
mining equipment market. Further, other operations such as the Panama Stock Operation (PSO),
CSR activities, and introduction of next generation mining equipment such as Autonomous
Haulage System (AHS) also serve as driving factors for the growth of the mining equipment
market in Latin America. Among these, CSR activities primarily focus on rehabilitation and
support programmers, promotion of healthy lifestyle and awareness programs for the adoption
of green technology. However, in the past few years, the mining industry and hence the mining
equipment industry has been facing an economic crisis on account of the requirement for
budget allocation in the maintenance of the mining industry and equipment, etc.
Report
Description
Report Description
Illegal mining operations at some locations and the risk associated with the mining industry
serve as further constraints for the Latin American mining equipment industry. Surging demand
and abundant availability of natural resources(including the world’s top three metal and mineral
reserves of copper, zinc and silver rapid technological advancement, modernization of mining
plants, stable legislations with a motivating legal environment, and the efficient budget
allocation with aftermarket revenue generation will serve as opportunities for the development
of the Latin America mining equipment market.
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Market segmentation of Latin American mining equipment can be done on the basis of
equipment, application and countries. On the basis of equipment, the Latin American mining
equipment market includes mineral processing equipment, surface mining equipment,
underground mining equipment, mining drills and breakers, crushing and screening equipment,
etc. On the basis of applications, the Latin American mining equipment market segmentation
includes metal ore mining, coal mining and mineral mining. Chile, being the largest producer of
copper, serves as a lucrative market for copper-based mining equipment. Colombia is an active
exporter, and is the first Latin American coal-producing country along with the production of
metals such as gold, silver and platinum and hence is the opportunistic market for the
associated mining equipment market.
Report
Description
Report Description
On the basis of countries, the Latin American mining equipment market includes Argentina,
Brazil, Mexico, Chile, Panama, Peru, Ecuador, Colombia, Paraguay, Uruguay, Bolivia and
Venezuela. Chile is known for the adoption and introduction of advanced technologies such as
autonomous haulage system. Peru is the reserve of key minerals and has been witnessing a
surging demand for copper and hence the expansion of the associated mining equipment
market. Brazil has an integrated approach for the production and sale of mining equipment.
Panama has an active stock operation (PSO) for the support of the mining industry. In line with
the positive future of the Latin American mining equipment industry, Peru and Chile are
expected to receive double digit foreign investment in $ Bn in the next six years.
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Some of the prominent players of the global mining equipment market include Sandvik AB,
Hitachi Construction Machinery, Komatsu Limited, Atlas Copco Ab Joy Global Inc. Breaker
Technology, Astec Industries, Bucyrus International, Caterpillar Incorporated, China Coal Energy
Company Limited, Tecpalsa, Tecmap, Tiesa and Igaretta. Among these, Komatsu Limited in the
whole of Latin America, Tecpalsa in Colombia, Tecmap and Tiesa in Panama and Igaretta in
Argentina are active players in the Latin American mining equipment market.
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Report
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