LCC AND DETERMINING ECONOMIC LIFE Firstly, the equipment is selected and life cycle cost analysis is used to determine its economic life. To have reliable results 3.1 Life Cycle Cost Model requires that the selected construction equipment be adequate in numbers. The cost and time data should also be reliable.
Equipment for Mining Market: WiseGuyReports adds Global Equipment for Mining Market Research Report 2021 Analysis and Forecast 2027 reports to its database. Executive Summary. The global Equipment for Mining market report highlights the various facets of the industry while maintaining its unbiased view.
Equipment life cycle cost analysis is typically used as one component of the equipment fleet management process and allows the fleet manager to make equipment repair, replacement, and retention decisions on the basis of a given piece of equipments economic life.
The mining equipment market is anticipated to record a CAGR of 8.14%, during the forecast period, 2020 2025. Mining, as an industry, involves huge capital investment, of which, over one third is for equipment. Any country that hosts mining operations is bound to have monetary, labor employment, and local industrial benefits.
Mining equipment include mining drills and tools, earth movers, crushing equipment and machines, feeding amp; conveying equipment, and others. Metals and minerals are extracted from the ground with help of computerized remote controlled equipment, high technology operations, and complex machinery.