According to a report from Research and Markets, the global surface mining equipment market is expected to grow at a CAGR of 3.24% during the period 2017-2021.

The 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.

One trend in the market is environment-friendly mining activities. Mining can be made environment-friendly by developing new strategies and practices, and integrating these practices to reduce the negative environmental impacts of mining operations. To reduce the negative impacts of mining activities, it is necessary to introduce mining equipment that emits less harmful particles into water, air, and land.

According to the report, one driver in the market is rise in demand for housing projects globally. The housing market accounts for a major share of the global construction market. Increasing economic growth, purchasing power, consumer confidence, and urban population will exponentially increase the demand for residential complexes and projects in the forecast period. This demand will further be driven by decreasing unemployment rate and interest rates on loans. Decreasing interest rates coupled with increasing income levels of the population will encourage the need for buying houses, both as a necessity and from an investment perspective.