HEAVY EQUIPMENT MANUFACTURING MetalMizer MV2018
The Versatile Vertical Bandsaw that Stands Out
• Convenient overhead controls • 45° tilting saw head • 18" x 20" cutting capacity • Made in the U.S.A.
to continued weakness in demand for mined commodities. Although the economic rebound in the United States fuels demand for various commodities, the performance of the US economy alone cannot reverse market trends. Moreover, the mining sector worldwide continues to be plagued by ongoing issues stemming from resource nationalism, a skills short- age and infrastructure defi cits. As a result, the prices of iron ore, copper, gold and coal took a nosedive, turning investors away from the mining sector.
Prices have continued to rise for mining equipment. In response to current market conditions, mining compa-
nies are delaying new projects and instead are investing time and effort into increasing productivity at existing mines. As a result, purchases of mining equipment have been dwindling, while demand for maintenance and repair services have been on the rise as miners look to extend the life of their existing equipment. Therefore, IBISWorld anticipates the revenue in the domestic mining, oil and gas machinery manufacturing industry to plummet an additional 23% in 2015. In addi- tion, competition from foreign suppliers has been mounting, further challenging the domestic market.
Major Players: Domestic and Foreign
Peoria, IL-based Caterpillar Inc. is the leading global manufacturer of mining and construction equipment, supply- ing equipment such as mining trucks, draglines, off-highway trucks and wheel dozers. Despite its dominant position in the market, the company has suffered from the global mining downturn. As mining companies reduced their capital expen- ditures on new equipment purchases, Caterpillar’s machinery sales for the resource industries segment, which includes sales of mining equipment, plummeted 53.5% from 2012 to 2014. Likewise, segment profi t plunged 88.3% during
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AdvancedManufacturing.org | October 2015
© 2015 MetalMizer
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