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What are the Key Roadblocks Hindering the Mining Equipment Market Growth Prospects? SpendEdge’s Latest Blog Reveals

November 26, 2019 GMT

LONDON--(BUSINESS WIRE)--Nov 26, 2019--

SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest article on top challenges impacting the growth of the mining equipment market.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191126005563/en/

The global mining equipment market is expected to witness a growth of over $40 billion due to the initiation of new mining projects and transition from under growing to more economical and open-pit mining. However, increasing complexities in mineral extraction and rising concern among people for the environment has created new challenges for mining companies. They are compelled to identify alternative options to prove their significance amid the increasing use of non-renewable resources.

Wondering how comprehensive insights into the mining equipment market can help you understand the market better and devise effective growth strategies? Request a free brochure to gain insights into our customized solution portfolio.

SpendEdge offers customized procurement market intelligence solutions to help companies across various industries make better purchasing decisions, stay informed, mitigate different types of procurement risks and gain a complete picture of the supply market. Our solutions help procurement and sourcing professionals to transform structural capabilities, improve execution efficiency, and fast-track time to savings.

Factors Impacting the Mining Equipment Market

Allocation of capital

With the increasing production costs and shrinking profit margins, investors have become resilient to collaborate with new companies. They find it hard to raise the necessary capital to invest in large-scale equipment and expensive mining practices. Lack of access to capital, thereby, leads to the scrapping of numerous high-profile projects.

Want to know how you can identify the key suppliers to meet capital requirements? Reach out to our experts for specific insights.

Advanced technologies

New technologies such as autonomous drill equipment, GPS systems, and satellite communications have largely impacted the mining equipment market. Today, the equipment has rig control systems and data analysis capabilities to make continuous, on-line ore mineral analysis. Companies must keep pace with such technologies to gain a competitive edge.

Analyzing factors impacting the mining equipment market is crucial for companies to keep pace with the latest technologies. Register for free and gain instant access to 1000+ procurement reports.

Evolving stakeholder relationships

Mining equipment companies are required to meet increasing demands for local employment opportunities, improved infrastructure, and greater environmental protection. They also have to address government regulations ‎while abiding tax rules and royalty rates. Establishing credibility in the investor community and building better stakeholder relationships then becomes a challenge for mining companies.

To obtain more information on challenges faced by companies in the mining equipment market, request for more information from our experts now!

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About SpendEdge:

SpendEdgeshares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions.

Want more information?We’re happy to help! Tell us more about your business challenges.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191126005563/en/

CONTACT: SpendEdge

Anirban Choudhury

Marketing Manager

US: +1 630 984 7340

UK: +44 148 459 9299

https://www.spendedge.com/contact-us

KEYWORD:

INDUSTRY KEYWORD: MINING/MINERALS NATURAL RESOURCES

SOURCE: SpendEdge

Copyright Business Wire 2019.

PUB: 11/26/2019 11:15 AM/DISC: 11/26/2019 11:15 AM

http://www.businesswire.com/news/home/20191126005563/en