Industry Analysis & Industry Trends
During the past five years, the Mining, Oil and Gas Machinery Manufacturing industry has undergone a period of revenue volatility underpinned by booming global demand for mineral and energy commodities on one hand and the Great Recession on the other. The faltering global economy, credit crisis and weaker commodity prices resulted in a sharp downturn in energy and mineral exploration and production, dragging down demand for industry products. In the coming five years, however, conditions will improve as global economies seek out new oil and gas reserves, strengthening demand for related machinery... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
IBISWorld forecasts growth in industry value added (IVA), a measure of the industry's contribution to the overall economy, to rival growth in US GDP in the 10 years to 2019. IVA is projected to rise at an annualized rate of 2.6%, compared with 2.5% annualized GDP growth during the same period. As the industry is expected to nearly match the overall economy's growth in the 10 years to 2019, the industry is considered mature. Furthermore, future potential in overseas markets and the temporary nature of recent dips indicate ongoing prosperity.
Increasing world demand for oil, gas and minerals has spurred the development of new technologies. In an effort to find more reserves to satisfy world energy demand, capital expenditure from mining, oil and gas companies has risen since 2009... purchase to read more