A buoyant resources sector is breathing life back into the mining services sector and could trigger a wave of exits from private equity players who have been holding equipment fleet and other mining services assets since the last boom, according to accounting firm EY.

Analysis of auction results suggest the value of Australian mining fleet had increased by 7.5 per cent over the past 18 months, with the bulk of that valuation rise coming in the past six months as cashed up miners seek to add extra equipment or upgrade their existing fleet.