Mining Equipment Market is Anticipated to Generate Huge Revenue by 2024 – GroundAlerts.com
The collaborative approach of mining companies regulatory bodies to accelerate the number of mining activities will have a significant influence on the mining equipment industry growth. With the deployment of ambitious product development programs, global mining equipment industry is likely to traverse alongside a positive growth path. Driven by the growing investments in the mining metal exploration activities, mining equipment market size will surpass USD 95 billion by the end of 2024.
Recently, the International Council on Mining Metals revealed a plan to make mining vehicles safer cleaner at the International Mining Resources Conference held in Melbourne. At the conference, numerous renowned truck mining equipment suppliers came together to accelerate the invention of next-gen mining equipment. In addition, the Innovation for Cleaner Safer Vehicles (ICSV) is also planning to launch GHG emission-free surface mining vehicles by the end of 2040. The increasing concerns about the depleting fossil fuel resources along with growing importance of emission-free vehicles are thus poised to observe a positive impact on the mining equipment market share.
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Over the last few years, in order to deal with the increasing number of mining activities, most of the countries have