PUBLISHER: Freedonia Group | PRODUCT CODE: 1248724
PUBLISHER: Freedonia Group | PRODUCT CODE: 1248724
Through 2027, global demand for mining equipment is forecast to expand 5.5% to nearly $174 billion. After the COVID-19 pandemic caused worldwide sales of mining machinery to decline roughly 10%, market conditions improved dramatically in 2021 and most nations recorded growth of more than 15%. As mining equipment prices surged in 2022 because of high rates of inflation, supply chain disruptions, and a global chip shortage, operators cut back machinery spending and the global market contracted 3% in real terms. Multiple trends are expected to support advances in worldwide product sales during the 2022-2027 period, including rising mining output, new exploration activity, higher commodity prices, and rising mining sector mechanization rates in developing nations. The adoption of new regulations impacting mine operators (e.g., worker protections, environmental regulations) and growing concerns about a variety of workforce issues (e.g., rising wages, availability of skilled operators) will encourage the use of advanced technologies around the world.
This study covers the following types of agricultural equipment:
Surface Mining Machinery
Underground Mining Machinery
Drills & Breakers
Crushing/Pulverizing/Screening Equipment
Mineral Processing & Other Mining Equipment
Parts & Attachments
Farm machinery data is provided for 18 nations in the following regions:
Scope of the Report
This report covers the scope, size and growth of the global mining equipment market, including demand by machine type. Historical figures are provided for 2012, 2017, and 2022 with forecasts for 2027 and 2032. This edition also presents annual data for the 2019-2026 period and features historical product demand charts for the 2002-2022 period for all countries. In addition, the study analyzes the structure of the immense and diverse global mining equipment industry and gives market share figures for leading producers in dollar terms. Regional market share figures are also presented.
List of Tables