Chile Mining Equipment Rental Market Witness Highest Growth at a CAGR of 3.8% by 2027

Chile Mining Equipment Rental Market Overview and Insights:

According to MarkNtel Advisors Report, the Chile Mining Equipment Rental Market is projected to grow at a CAGR of around 3.8% during the forecast period, i.e., 2022-27. Chile Mining Equipment Rental Market research is an ongoing process. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.

Time Period Captured in the Report:

Historical Years: 2017-20

Base Years: 2021

Forecast Years: 2022-27

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Growth Opportunity: Rising Foreign Investments to Tap Vast Mineral Reserves

Chile is one of the largest producers of metals & minerals across the globe. In 2021, the country extracted more than 5 million tons of copper, 55 thousand tons of molybdenum, 40 tons of gold, and 120 tons of lithium carbonate. Moreover, the government has proposed additional 49 mining projects during 2020-29. Around 32% of these projects are for greenfield exploration, and 32 out of 49 projects are copper mining based. The total amount is expected to exceed approximately USD74 billion.

Moreover, BHP Group Ltd., which is already operating in Chile’s largest copper mine Escondida, announced an investment of more than USD10 billion in the country’s mining industry in 2022. These mega investments are expected to present immense opportunities to the mining equipment rental companies as mining companies spend over USD15 billion annually on technology, auxiliary services, and machinery to keep their operation running.

Who are the Key Players Operating in the Chile Mining Equipment Rental Industry?

The top companies of the Chile Mining Equipment Rental market ruling the industry are:

KOMATSU Chile
Caterpillar
Liebherr International
CASE Construction
MPM LTDA
FleetCo
Emeco Holdings
SK Rental
AMECO South America
Lanztec
Others

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What is Included in Chile Mining Equipment Rental Market Segmentation?

The report has segmented the market into the following categories:

-By Application

Coal Mining
Metal Mining
Mineral Mining

Of them all, the Metal Mining Application held a dominating share during the historical period. The country is blessed with some of the largest reserves of metals in the world. Therefore, the extensive production of metals, including copper, gold, lithium, etc., would generate great demand for rental mining equipment. The country has got 22% of the world’s copper reserves, 11% of molybdenum reserves, 5% of silver reserves, 7% of gold, and 48% of the world’s lithium reserves. Lithium is one of the key components of batteries, and therefore the government's open policies of mine exploration have boosted the mining sector's growth, creating a demand for mining equipment rental in the country.

-By Equipment

Earthmoving Equipment
Material Handling Equipment
Surface Mining Equipment
Underground Mining Equipment
Other Equipment

Geographical Analysis

-By Region

North
Central
South

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