Recent Events

Global Mining Equipment Market Reverses late-2014 Gains (May 5, 2015)

PBCo-Surface-Mining-Equipment-Index2

The market for the largest mobile equipment utilized by the world’s highest-producing surface miners retraced modest gains achieved at the end of last year and fell below the lowest levels recorded for the current market contraction.  After revised gains of 4% in the final quarter of 2014, deliveries were down more than 17% in Q1 2015.

Parker Bay previously noted the gains in the second half of 2014 as potentially signaling a market recovery while also noting that the volume and percentage of those was quite small.  The latest numbers appear to contradict that assessment.  Whatever recovery might be taking place in mining markets is having negligible effect on demand for large surface mining equipment to date.  It now seems likely that 2015 will be no better or only marginally better than the very depressed 2014 levels.  And any sustained and substantial recovery will occur in 2016 or later.

Visit the Surface Mining Equipment Index page for more information on the evolution of mining equipment shipments through Q1 2015.

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