Fifth Consecutive Quarter of Growth (November 6, 2017)

Third quarter deliveries continued the trend that started in the third quarter of 2016 and reinforce the many other indications of a sustained and growing recovery and expansion of mining and equipment markets worldwide. Although not every market segment expanded during Q3, the overall market increase by approximately 11% vs. the very strong gains recorded during Q2. And when comparing these latest shipments to those of a year ago, the gain is an impressive 83% (number of units). Mining trucks, by far the largest product sector, increase by nearly 20%, surpassing 600 unit deliveries for first time since Q2 2013. The gains recorded by manufacturers of excavators/loaders were even stronger during Q3 (+43%) after lagging behind truck shipments during earlier stages of this expansion phase. But in contrast, crawler and wheel dozer shipments lagged these primary production products with shipments contracting by 17% vs. Q2 and up just 6% year-over-year. This latest result may be anomalous and could represent a need for miners to focus their still restrained capex on those products essential to maintaining and growing mineral output. We would expect a recovery and acceleration in dozer deliveries in the near future.

Visit the Surface Mining Equipment Index page for more information on the evolution of mining equipment shipments through Q3 2017.