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Global Mining Equipment

Publisher Freedonia Group
Published Mar 27, 2023
Length 439 Pages
SKU # FG17832591

Description

Global Mining Equipment

Global demand for mining equipment is forecast to rise 5.5% per year to $174 billion in 2027. Growth will be driven by increasing metal and mineral mining output as the global construction and manufacturing industries that use these materials continue to rebound following the pandemic-related losses of 2020. In addition, demand will be supported by the introduction of newly developed, innovative models that feature multiple productivity and efficiency boosting technologies (e.g., automation software, advanced engines), which allow mine operators to address workforce issues and new mining regulations.

However, further growth will be constrained by:

the ongoing shift away from coal – one of the key markets for mining equipment – in many parts of the world
  • weaker market conditions in Europe in the first part of the forecast period because of the Russia-Ukraine conflict
China will Account for Nearly Half of Global Growth through 2027
In 2022, the Chinese market experienced a sharp deceleration in market value and a 6% decline in real terms due to the effects of the country’s Zero-COVID policy (which was rescinded in November 2022) on its economy. This was compounded by high rates of inflation at home and abroad as well as a global chip shortage. Going forward, China will register significant absolute gains in both market value and in real terms as it continues to extract from its immense mining resources. The ongoing government support for the mining sector and greater investment by foreign multinationals will also bolster demand, supporting purchases of both new and replacement equipment.

Metals Mining Segment to Record Above Average Growth

Demand for machinery used in metal mining is expected to expand at an above average rate, driven by rising metal prices, which will encourage the opening of new mines and increase spending on new equipment. In addition, because metal mining firms have immense financial resources and are intensive users of equipment, they will be among the first to adopt new technologies. Demand in the metal mining market will also be supported by rising demand for durable goods that utilize metals. For instance, lithium has become an increasingly important and valued metal as lithium-ion batteries come into greater use, most notably in electric vehicles, which are rapidly increasing their share of the motor vehicle market.

Study Description

This Freedonia study analyzes the $133 billion global market for mining machinery. It provides supply and demand figures for 2012, 2017, and 2022, and forecasts for 2027 and 2032. We also offer annual data for the 2019-2026 period and historical mining equipment demand charts for the 2002-2022 period for all countries. The Global Mining Equipment study also presents product demand by type (surface mining machinery; underground mining machinery; drills and breakers; crushing, pulverizing, and screening equipment; mineral processing and other mining machinery; and parts and attachments) for 18 nations. Additionally, it offers a competitive analysis of industry leaders and provides market share for 19 suppliers, such as Astec Industries, Caterpillar, China Coal Energy, Hyundai Heavy Industries, Epiroc, FLDSmidth, Hitachi, Komatsu, Liebherr-International, Metso Outotec, Sandvik, SANY Heavy Industry, and Tiandi Science and Technology.

Table of Contents

439 Pages
    • Figure 1-1. Global Mining Equipment
    • COVID-19 General Trends
    • Impact on the Economy
    • Impact on the Global Mining Equipment Industry
    • Study Scope
    • Historical Trends & Market Cyclicality
    • Regional Trends
    • Pricing Patterns
    • Global Mining Outlook
    • Technology Trends
    • Competition from Used & Remanufactured Equipment
    • Legal & Regulatory Trends
    • Sustainability Efforts
    • Demand by Type
    • Surface Mining Equipment
    • Underground Mining Equipment
    • Mining Drills & Breakers
    • Crushing, Pulverizing, &Screening Equipment
    • Mineral Processing & Other Equipment
    • Parts & Attachments
    • Demand by Market
    • Minerals Mining
    • Metals Mining
    • Coal Mining
    • North America: Mining Equipment Market Size & Historical Trends
    • North America: Supply & Demand
    • North America: Demand by Product
    • North America: Demand by Market
    • North America: Market Share
    • United States
    • Canada
    • Mexico
    • Central & South America: Mining Equipment Market Size & Historical Trends
    • Central & South America: Supply & Demand
    • Central & South America: Demand by Product
    • Central & South America: Demand by Market
    • Central & South America: Market Share
    • Brazil
    • Chile
    • Other Central & South America
    • Western Europe: Mining Equipment Market Size & Historical Trends
    • Western Europe: Supply & Demand
    • Western Europe: Demand by Product
    • Western Europe: Demand by Market
    • Western Europe: Market Share
    • Germany
    • Italy
    • United Kingdom
    • France
    • Other Western Europe
    • Eastern Europe: Mining Equipment Market Size & Historical Trends
    • Eastern Europe: Supply & Demand
    • Eastern Europe: Demand by Product
    • Eastern Europe: Demand by Market
    • Eastern Europe: Market Share
    • Russia
    • Poland
    • Other Eastern Europe
    • Asia/Pacific: Mining Equipment Market Size & Historical Trends
    • Asia/Pacific: Supply & Demand
    • Asia/Pacific: Demand by Product
    • Asia/Pacific: Demand by Market
    • Asia/Pacific: Market Share
    • China
    • Australia
    • India
    • Japan
    • Indonesia
    • Other Asia/Pacific
    • Africa/Mideast: Mining Equipment Market Size & Historical Trends
    • Africa/Mideast: Supply & Demand
    • Africa/Mideast: Demand by Product
    • Africa/Mideast: Demand by Market
    • Africa/Mideast: Market Share
    • South Africa
    • Turkey
    • Other Africa/Mideast
    • Key Findings & Industry Composition
    • Market Share
    • Mergers & Acquisitions
    • List of Industry Participants
    • Report Details
    • Definitions
    • Abbreviations
    • Freedonia Methodology
    • Study-Specific MethodologyGlobal Forestry Equipment
    • Sources
    • Associations & Agencies
    • Related Studies & Reports
    • Country Lists by Region
    • Macroeconomic Assumptions
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