Industrial vehicle OEMs have been buoyed by recent good news surrounding the expansion of mining activities around the world and an increase in vehicle sales.
Parker Bay, which conducts market research for the mining and mining equipment industries, has recently released a report showing that mining equipment deliveries increased by 13% in the Q2 2016 and its Mining Equipment Index was up by 6.5% in Q3 2016.
“Shipments of smaller machines increased substantially faster than larger units with the increase in valuation roughly half that of unit shipments,” Parker Bay’s report stated. “Combined with other measures of mining market activity, these gains may be the start of an industry recovery.”
The biggest area for growth was coal mines in India and Indonesia, with coal mining as a whole accounting for 40% of all equipment deliveries in the third quarter.
For more on the latest mining vehicle news and predictions for more expansion to come, particularly in the smart mining market, don’t miss the latest issue of Industrial Vehicle Technology International.
December 2, 2016