IMPACT OF COVID-19 on Mining and Metals Market 2020 Growth of CAGR
The outbreak of coronavirus started showing its impact mainly from March of 2020. The average share pricing of metal and mining industry dropped by almost 10% and many standalone companies have lost around 40-50% of their market value. The effect of COVID-19 has changed from moderate in March 2020 to high in April 2020 and is still aggressively increasing. Some of the major players in the mining market such as BHP Billiton, Rio Tinto, and Anglo American have so far reported partial shutdowns and due to this, the industry has almost reported a production loss of more than 30% till now.
Metal and mining industry is one of those industries that have been severely impacted due to the outbreak of coronavirus globally. The prices of steel and other metals have shown different behavior due to demand and supply scenario change. In response to the spread of the virus, some governments have seized the borders and have imposed large scales quarantines and social distancing measures to minimize the spread of the virus any further. The safety and well-being of workers were rightly the top priority of any country, but now companies must consider the economic effects of the pandemic, which are now apparent.
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The global Mining Metals Market is carefully researched in the report while largely concentrating on top players and their business tactics, geographical expansion, market segments, competitive landscape, manufacturing, and pricing and cost structures. Each section of the research study is specially prepared to explore key aspects of the global Mining Metals Market. For instance, the market dynamics section digs deep into the drivers, restraints, trends, and opportunities of the global Mining Metals Market. With qualitative and quantitative analysis, we help you with thorough and comprehensive research on the global Mining Metals Market. We have also focused on SWOT, PESTLE, and Porter’s Five Forces analyses of the global Mining Metals Market.
The Metal Mining market is analyzed with a combination of irreplaceable primary knowledge and secondary sources and the best combination of internal methodologies. Real-time market valuation is an important part of market size and forecasting methods. Our panel of industry experts and key participants helped to summarize the relevant aspects using realistic parameter estimates for a comprehensive study.
Global System Integrators in Mining and Metals market report also highlights key insights on the factors that drive the growth of the market as well as key challenges that are required to System Integrators in Mining and Metals market growth in the projection period. Here provide the perspectives for the impact of COVID-19 from the long and short term. System Integrators in Mining and Metals market contain the influence of the crisis on the industry chain, especially for marketing channels. Update the industry economic revitalization plan of the country-wise government.
Global Mining Equipment Market
Global Mining Equipment Market, By Equipment Category (Crushing, Pulverizing & Screening Equipment; Drills & Beakers; Mineral Processing Equipment; Surface Mining Equipment; Underground Mining Equipment); Industry (Coal; Metal; Minerals); Propulsion (Diesel; Gasoline; CNG/LNG/Others); Electric Equipment Type (Mining Trucks; LHD); Autonomous Equipment Category (Surface Mining; Underground Mining); Geography (North America; South America; Europe; Asia-Pacific; Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis:Â Global Mining Equipment Market
Global mining equipment market is expected to rise from its initial estimated value of USD 76.75 billion in 2018 to an estimated value of USD 120.03 billion by 2026, registering a CAGR of 5.75% in the forecast period of 2019-2026. This rise in market value can be attributed to the growing demand of metals & minerals globally.
Market Definition:Â Global Mining Equipment Market
Mining equipment can be defined as the machinery that is used for the extraction of precious minerals, nutrients and materials from the surface or from underneath the surface of the earth. Due to the tough nature of the earth’s surface and underneath the surface as well, there is need for excavation of these materials for improved efficiency of the mining methods as compared to human labours.
Market segmentation, by applications:
Mining Industry
Metals Industry
Others
Key Insights in the report:
Complete and distinct analysis of the market drivers and restraints
Key Market players involved in this industry
Detailed analysis of the Market Segmentation
Competitive analysis of the key players involved