Globally, the mining equipment sector is predicted to see a growth at CAGR 6.42%, reaching a market size of 136.03 billion US dollars in the year 2021. With such rapid growth in the cards, it becomes important to analyze the factors that would help the suppliers make more profit with this growth. Timetric, a leading business-research service provider, recently came forward with an analysis of the trends in the mining equipment sector for the year 2016. This survey is based on the opinions of 110 senior decision makers of this sector. The survey throws light on the pattern of customer preference and the factors that affect such preferences. Additionally, it also revealed the performance of various suppliers of mining equipment in Asia-Pacific region. This survey of key buyers and decision makers helped in framing many end-results, which you will read as you proceed further in the article.
Main Focus of The Analysis
With this survey revealed by Timetric, the main question circulating in everybody’s mind is, ‘What is the main focus of this analysis?’ Well, to clear out the chaos, here is a list that will tell you more about this survey.
Having discussed the main focus of this research, it’s time we discuss the trends that came to light after this long process. The name that emerged as the leading supplier from this survey was Caterpillar. Based in the USA, this company topped the list with maximum customer satisfaction ratings in eight categories out of the total 16. The major factor that makes customers stick to certain suppliers is the quality of equipment provided. Major strata of customers go for a trial run of the equipment and check its demonstration before dealing with them. The main factor that decided the customer-supplier bond was the quality of the equipment supplied. The brand name also played a key role in determining the market share of the supplier.
A brief knowledge about the trends in the mining equipment sector was discussed in the above article. These factor points would definitely help you strengthen your position in the market of mining equipment.
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This is an interesting article. I appreciate you work in gathering data and analyzing mining equipment in Asia Pacific sector. Understanding these aspects are very crucial in mining business in this region. Great read.
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