ReportsnReports.com adds Global Mining Equipment Rental Market 2016-2020 latest research report, the analysts forecast global mining equipment rental market to grow at a CAGR of 3.36% during the period 2016-2020.
Complete report on mining equipment rental market is now available at http://www.reportsnreports.com/reports/539094-global-mining-equipment-rental-market-2016-2020.html
According to the mining equipment rental market report, renting mining equipment is a cost-effective alternative to owning such equipment, especially for short duration projects. Higher financial flexibility, reduced maintenance cost, and low cost of ownership are the key advantages offered by rental mining equipment; therefore, they are highly beneficial for small-scale mining companies and contractors.
Mining equipment rental an analyst said large-scale mining companies tend to focus on current projects rather than take risks and venture into new ones. This is a shielding strategy they adopt, wherein they go slow on new explorations, cut down expenditure, and run tighter operations to maximize the potential of current projects. Such strategies protect them from the impact of declining commodity prices, expensive operations, and increased energy bills. As a result, the profit margins of rental mining equipment companies have decreased, as many large players in the industry have lowered their investment in new projects.
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Mining equipment is used to extract natural resources such as metals, coal, and minerals, including iron ore, titanium, bauxite, and copper; gravel and sand; platinum and gold; and salt and other non-metallic products. Mining equipment includes trucks, dozers, loaders, borers, core drillers, stationary and portable crushers, dryers, feeders, hydraulic pumps, conveyor belts, and compressors.
Rental mining equipment accounts for a significant share in the global mining equipment market. The high cost of capital, overhead cost, and maintenance cost attached with the ownership of mining equipment have led end-users to rent mining equipment. The nature of a project and its duration are the key factors considered while purchasing or renting mining equipment. Generally, for a small-scale project scheduled for a short span, companies prefer to rent mining equipment as opposed to purchasing them.
The market is divided into the following segments based on geography: Americas, APAC and EMEA
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Global Mining Equipment Rental Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. This report covers the present scenario and the growth prospects of the global mining equipment rental market for the period 2016-2020. The market size has been calculated considering the end-user demand for various rentals mining equipment in 2015. Market predictions are based on the projected demand for rental mining equipment during the forecast period.
Key players in the global mining equipment rental market: Atlas Copco AB, Caterpillar Inc., Hertz Equipment Rental Corporation, Komatsu Ltd., and Sunbelt Rentals Inc.
Other Prominent Vendors in the market are: AMECO, EMECO, Eqstra, H&E Equipment Services, Hewitt Rentals, McDowell Equipment, United Rentals, United Mining Rentals, EquipRent, and SMS Rental.
Further, the report states that many mining companies have deferred investments in new mining projects due to declining commodity prices. The prices of coal, aluminum, copper, and iron ore have been declining since 2011.
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