Transparency Market Research, in its latest research report, stated the global mining equipment market will grow significantly in the coming years. The global mining equipment market was valued at $71.5 billion in 2012 and is expected to reach $117.0 billion by 2018, growing at a CAGR of 8.5% from 2012 to 2018.

The mining activities across the globe have seen a steady arise over the past few years, thus fueling the demand for mining equipment market. The primary reason for mining equipment market to witness stupendous growth is increasing demand for mineral and metal commodities. The other growth drivers pushing the mining equipment market are need for technologically advanced equipment in the developing countries to support the booming mining industry.

To view the full Transparency Market Research report, click here.