Mining Equipment Demand to Rise in 2012 (CAT, JOY, DE)
Demand for mining equipment and machinery is expected to grow by 8.5% in 2012 to a total of $92 billion. This should give a boost to heavy equipment makers like Caterpillar Inc. (NYSE: CAT), Joy Global Inc. (NYSE: JOY), and…
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Demand for mining equipment and machinery is expected to grow by 8.5% in 2012 to a total of $92 billion. This should give a boost to heavy equipment makers like Caterpillar Inc. (NYSE: CAT), Joy Global Inc. (NYSE: JOY), and Deere & Co. (NYSE: DE).
According to a report in International Mining:
Demand will be stimulated by a pickup in mining output growth as global manufacturing activity and construction expenditures accelerate in a generally favourable economic climate. Commodity prices are also expected to remain high by historical standards, contributing to a rise in resource exploration and development activity, and associated mining machinery sales.
Demand from China is expected to account for 57% of all new mining equipment sold through 2015.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
