Large Gear Market Preps for Rebound
Although the large gear market remains volatile, analysts expect significant revenue increases from 2022 – 2025. Key vendors are being asked to expand their market capabilities and provide the latest/greatest equipment to manufacture gears in less time. The environmental impact— in areas like mining, cement, metal fabrication and chemicals/petrochemicals—is also a priority as these industries continue to push for the creation of waste-to-energy plants. Here’s some news and notes from the large gear sector:
F.L. Smidth Reports on Mining Outlook
The mining industry has remained largely resilient during the course of 2021 aided by high commodity prices and solid industry fundamentals. The global mining market is expected to grow over the coming years and the long-term outlook remains positive driven by global economic development and increased demand for minerals required the green transition.
In North America and Europe, they see increased market activity despite the fact that direct customer visits are still difficult in certain areas due to the pandemic. The surge in demand and subsequent bottlenecks in global supply chains also continue to cause challenges across markets and they are still seeing delays in some regions. Demand for minerals is expected to increase significantly in the coming years. It is essential that governments and industries ensure that minerals supply is reliable and sustainable, as the urgency to deal with climate change accelerates.
During F.L. Smidth’s Annual Report 2021, the company discussed its MissionZero Mine objectives. MissionZero is the company’s sustainability program to enable zero emissions in mining and cement by 2020. Some highlights of this program include:
Low Impact Dry Grinding