Published on : Oct 09, 2019
Several regulations with regard to mining machinery have been specified by regional authorities. This factor has led decision makers in the mining industry to think along the lines of safety and environmental sustainability. Most lifting equipment require testing and inspection every 6 months. It is, therefore, important for the mining industry to stay connected to the external industry for testing and inspection. The global mining lifting equipment market is expected to grow on the back of increased mining activities.
Weir Minerals has emerged as a prominent vendor in the global mining lifting equipment market. The company focuses on enhancing the safety of mining equipment, and this is a key consideration for other vendors who are keen to stay competitive. The company has developed specialised tools for assembling and disassembling tools and machinery. Some of the key players in the global mining lifting equipment market are FB MiningLifting Equipment, Elephant Lifting Equipment, SKD Machinery, and Shanghai ZME Company.
Research Moz, in this review, delves into the specifics of growth within the global mining lifting equipment market.
Robust System of Inspection across Mining Industry
The mining industry has a three-tier model for inspection of equipment that includes daily, monthly, and quarterly checks. Hence, there is little scope for error across mines, and this factor has played a crucial role in popularising mining lifting equipment market. The need for extracting commercially viable ores and minerals has necessitated the use of mining lifting equipment.
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Asia Pacific to Witness Paced Growth
Based on geography, the opportunities in the mining lifting equipment market has a sparse graph of growth. The growth of the mining lifting equipment market in Asia Pacific has been stupendous relative to other regional segments. This largely owes to the presence of viable mining sites in the region. The Middle East mining industry is also gathering momentum in recent times.