Mining Equipment Sourcing Intelligence To Grow Substantially At A CAGR Of 5.1% Till 2030Posted by rahul nikade on June 28th, 2024 Mining Equipment Procurement Intelligence The mining equipment category is anticipated to grow at a CAGR of 5.1% from 2023 to 2030. Mining activities are increasing to extract metals and minerals from the earth in response to the growing demand for these resources, driving the growth of the category. Moreover, the adoption of natural complex and mineral resources such as diamond, iron ore, coal, and uranium, coupled with the increase in the need for mineral fertilizers to enhance agricultural yield supplements are fueling the demand for the category. The rising utilization of technologies such as IoT, sensors, and automation is reducing the labor cost and operational time associated with the activities. For instance, radar sensors are being used to process bulk solids whereas magnetic susceptibility meters and spectrometers are being used to detect wear and tear in mining equipment. All these factors result in a demand for innovative equipment. Order your copy of the Mining Equipment category procurement intelligence report 2023-2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis Mining Equipment Procurement Intelligence Report Scope The Mining Equipment category is expected to have pricing growth outlook of 5% - 6% (annual) from 2023 to 2030, with below pricing models.
Supplier Selection Scope of Report
Supplier selection criteria of Report
Mining Equipment Procurement Intelligence Report Coverage Grand View Research will cover the following aspects in the report:
Mining Equipment Procurement Cost and Supplier Intelligence The total cost of ownership of manufacturing machinery can be divided into fixed and variable costs. Fixed costs include elements such as capital, machinery, depreciation and salvage value. Variable costs include material, labor, repair and maintenance, legal costs, and others. The mining equipment cost can range from USD 1 million to USD 5 million. Mining equipment maintenance costs account for 30% to 50% of the overall operational costs. The cost of equipment also depends on the type of equipment and other specifications. Under sourcing intelligence, end-user companies or clients generally outsource their mining equipment requirements to these category vendors. It is estimated that more than 85% of mining companies outsource more mining activities than mineral processing. Vendors are evaluated on equipment quality and type (underground or surface equipment), and technology offered (e.g., technology-driven fleets, automated vehicles, etc.) during mining equipment purchases. When selecting the equipment, it's crucial to consider factors such as the analyzing mining site, the reliability and effectiveness of the machinery, the equipment's cost, and the suppliers' experience. List of Key Suppliers
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