Better Times Ahead for North American Mining Equipment Market

Mining equipment production is forecast to rebound in 2021, and grow 3.8% through 2026. The mining equipment market in North America is showing signs of recovery based on the number of shipments being up in the fourth quarter of 2020 compared to previous quarters in 2020. COVID-19 dramatically affected the mining equipment market, as it did with most other segments globally, driving down commodity prices, causing PPE shortages, requiring labor force restrictions, and disrupting supply chains.
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