the period due to ongoing challenges faced by downstream industries. However, because miners increasingly invested in maintaining their existing machinery and equipment, the sales of aftermarket parts improved substantially. Japan’s Komatsu Ltd., is among the top suppliers of mining equipment in the world. The company commercial- ized Autonomous Haulage Systems (AHS) in 2008, which allows for un- manned operation of mining trucks and other equipment. This innovation has reduced the number of drivers working in hostile conditions and cut operat- ing costs for mining companies, while also helping increase safety on mine sites. Nonetheless, in the past three years, the demand for the company’s mining equipment has also deteriorated against the backdrop of sluggish com- modity prices. Segment sales increased 4.3% in 2014, however, due to record- high sales of aftermarket parts. On the back of this trend, segment profit has improved slightly as well. In 2015, the company also started a joint operation with GE to collect and analyze the big data of mining operations, which aims to cut operating costs for mining firms.


IBISWorld anticipates the revenue in the domestic mining, oil and gas machinery manufacturing industry to plummet an additional 23% in 2015.


Hitachi Ltd., another Japan-based


firm, rounds out the top three vendors of mining equipment and machinery. The company’s mining and construc- tion equipment sales increased 1.6% from 2012 to 2014, although most of the growth has come from sales of construction equipment. However, sales of hydraulic excavators (used


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primarily in mining) were strong during 2014, particularly in North America and Europe. Furthermore, the company’s growth in North America has been supported by its com- mitment to developing technologically advanced machinery


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