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Mining Equipment Market Overview: Global Mining Equipment Market is expected to garner $155.9 billion by 2022, registering a CAGR of 7.9% during the forecast period 2016 - 2022. Mining is an extraction process of obtaining coal, minerals, metals and other such materials from the earth.

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Coal mining has contributed significantly to industry growth in 2016. Use of coal in electricity generation is propelling demand in Asian countries such as China and India. Moreover, various equipment used in coal exploration have expanded their purposes and adoption with booming excavation of coal in recent years.

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Coal mining is the process of extracting coal from the ground. Coal is valued for its energy content, and, since the 1880s, has been widely used to generate electricity. Steel and cement industries use coal as a fuel for extraction of iron from iron ore and for cement production. In the United Kingdom and South Africa, a coal mine and its structures are a colliery, a coal mine a pit, and the ...

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Mining Equipment Market exceeded USD 70 billion in 2017 and is expected to grow at over 5% CAGR to 2024 when global mining machinery shipment to surpass 450 thousand units.

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India has a unique blend of big and small, manual and mechanised, opencast and underground mines. The total number of working coal mines as on date are 572, in the oil sector there are 29 oil projects excluding installations off-shore beyond territorial waters.

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The Coal India has set a target of producing 630 million tonnes in 2018-19 and one billion tonne in the next three to four years. The Coal India has decided to procure mining equipments worth USD two billion through global tender over the next three years to ramp up coal production to meet the ...

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