Global demand to increase 4.9% yearly through 2013

Global demand to increase 4.9% yearly through 2013 Global demand for mining equipment (including separately sold parts and attachments) is projected to increase 4.9 percent per year through 2013 to $58 billion. Despite a sluggish outlook in the shorter term, recovery is expected in the mining industry due to rising demand for commodities such as iron ore and copper. In addition, the ongoing thirst for energy will boost global coal output. China and India will be leading sources of mining equipment demand. However, just as importantly, these nations will continue to fuel demand for mined products throughout the world, stimulating mining equipment demand in other countries as well. Prices for mine able commodities increased significantly during the 2003-2008 period, leading to intensified efforts to mine materials and subsequent demand for mining machinery. Commodity prices dropped during the 2008-2009 world macroeconomic slowdown, but recovery is expected by 2013.

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