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The Market Size of China Mining Equipment Maintains a Fast Growth Trend

The Analysis Report on the Market Prospect and Investment Strategic Planning of China's Mining Equipment Industry from 2018 to 2023 (hereinafter referred to as the "Report") released recently by the Institute of Prospective Industries shows that the market scale of China's mining equipment industry maintained a rapid growth trend from 2006 to 2017, and the annual compound growth rate of industry sales reached 20%.

Demand for mining machinery and equipment is stable

Mining equipment refers to the mechanical equipment and its supporting equipment for the mining and washing of various solid minerals and stone materials, including well-building equipment, mining, and drilling equipment, mine hoisting equipment, mineral crushing powder equipment, mineral screening, and washing equipment.

Mining machinery is directly related to the development and utilization of metal, non-metal and coal resources in China. Its advancement and modernization, to a certain extent, reflect the level of industrialization of a country and determine the level of scientific development and comprehensive utilization of mine resources. It plays an important role in the development of the national economy. In recent years, China's rapid economic development, the continuous advancement of industrialization and urbanization, as well as the continuous investment in infrastructure construction, the demand for resources such as coal mines, metal mines and non-metallic mines is increasing, which stimulates the fixed assets investment in ore mining and processing industry, and makes China's mining equipment industry develops rapidly.

According to the analysis of the report, the demand for mining equipment for downstream applications will be stable and sustainable. Mining equipment is mainly used in the mining and enrichment of coal mines, metal mines, and non-metallic ores. Among them, metal ores mainly include iron, copper, and aluminum. Coal mine accounts for the largest proportion. Because the conditions of mineral processing operation are generally bad, the loss of equipment is large, the demand for spare parts in the mining industry is large and sustained so that the sales of mineral processing spare parts can maintain a certain stability.

At the same time, even if the macroeconomic growth slows down and ore price fluctuates, the impact of fixed assets investment on mineral processing spare parts demand is reduced because the fixed assets investment, especially spare parts cost, accounts for a very small proportion in the operation cost of the whole mining project. Therefore, even in the downturn of the industry, the development of mineral processing spare parts can remain stable.
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