Reportstack has announced a new market research report on the Global Electric Shovel Market 2014-2018. The presence of financing options to own equipment is one of the major trends impacting the market. It gives small and medium enterprises an opportunity to venture into the market with minimal risks and diminished financial constraints. The market is expected to grow at a CAGR of 1.37 percent during 2013-2018.
The demand for open-pit, quarry, and underground mining activities is expected to grow in the coming years. This is expected to increase the demand for electric shovels to efficiently perform mining activities. The demand will also result in the establishment of new mines, particularly for coal, gold, and quarry products.
“Mining equipment vendors are offering electric shovels and other mining equipment on a rental basis. This allows cost-driven organizations to opt for the latest construction equipment at minimal cost, thereby improving their operational productivity,” .
To define the market conditions in the next 3-4 years, the analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
To view the table of contents and know more details please visit Global Electric Shovel Market 2014-2018.