2018 Q4 Press Release
The market for large-scale surface mining equipment continues the recovery/expansion that began in the second half of 2016, with the gains recorded in Q4 2018 nearly three times the level reached at the bottom of the four-year long contraction that ended in mid-2016. On a year-over-year basis, deliveries of trucks, excavating/loading equipment and related mobile mining equipment recorded a 35% gain. Viewed in the context of quarterly growth, units shipped increased by just 1% over Q3 while value of these deliveries increase by close to 6%. When these quarterly figures are aggregated and compared to year-ago data, the annual gain is a more impressive. The annual aggregate value of these deliveries is estimated by Parker Bay to have increased from US$5.7 billion during 2017 to US$7.6 billion last year. But as indicated in Parker Bay’s Surface Mining Equipment Index, the global market remains far below the 2012 peak when machine shipments were valued at more than US$14 billion (at constant 2018 prices).