The mining equipment industry plays a crucial role in the extraction and processing of minerals and ores for various industries worldwide. Understanding the latest statistics and trends within this sector is essential for decision-makers, investors, and stakeholders to stay informed and make data-driven decisions. In this blog post, we will explore key statistics and insights that shed light on the current state and future outlook of the mining equipment industry.
The Latest Mining Equipment Industry Statistics Explained
The global mining equipment market size was valued at USD 144.37 billion in 2019.
The statistic indicates that the global mining equipment market had a total value of $144.37 billion in sales in the year 2019. This figure represents the collective value of all mining equipment purchased and used by companies and organizations involved in the mining industry worldwide during that period. The market size provides valuable insight into the scale and economic importance of the mining equipment industry on a global level, indicating substantial demand for equipment such as drills, loaders, crushers, and conveyors among mining companies seeking to increase efficiency and productivity in their operations.
The global mining equipment industry is expected to reach an estimated $36.8 billion by 2025.
This statistic indicates that the global mining equipment industry is projected to grow significantly and reach a market value of around $36.8 billion by the year 2025. This growth is driven by various factors such as increasing demand for minerals and metals, technological advancements in mining equipment, and the expansion of mining activities worldwide. The industry’s expected expansion also signifies potential opportunities for manufacturers, suppliers, and other stakeholders in the mining equipment sector to capitalize on this growing market and boost their business prospects in the coming years.
Asia-Pacific is expected to remain the largest region in the global mining equipment industry and to grow at a CAGR of 4% over the forecast period.
This statistic indicates that the Asia-Pacific region is projected to maintain its position as the largest market for mining equipment globally. The region is expected to experience a Compound Annual Growth Rate (CAGR) of 4% over the forecast period, showcasing moderate but consistent growth in the mining equipment industry. This growth is likely driven by factors such as increasing industrialization, infrastructure development, and the rising demand for minerals and metals in countries within the Asia-Pacific region. The forecast suggests that the mining equipment industry in Asia-Pacific is set to expand steadily in the coming years, presenting opportunities for businesses operating within this sector to capitalize on the region’s market potential.
The mining equipment market was the highest revenue generating machinery line segment, which accounted for 61.8% of the total market in 2020.
The statistic indicates that in 2020, the mining equipment market was the segment within the machinery industry that generated the highest revenue compared to other segments. Specifically, this segment accounted for 61.8% of the total market revenue during that year. This suggests that the mining equipment sector played a significant role in driving the overall performance of the machinery industry in 2020, both in terms of sales and economic contribution. The strong performance of the mining equipment market may reflect increased demand for mining activities and related machinery during that period, potentially driven by factors such as global economic conditions, resource demand, and infrastructure development.
In 2019, the global market for mining drills & breakers were around $2.2 billion.
The statistic “In 2019, the global market for mining drills & breakers was around $2.2 billion” indicates the estimated total value of sales for mining drills and breakers worldwide during that year. This figure reflects the economic significance of the mining equipment industry and suggests a substantial demand for these specific tools within the global mining sector. Factors such as technological advancements, increasing mineral exploration activities, and infrastructure development projects likely contributed to the market size. The statistic provides insight into the scale of investment and expenditure in this particular segment of the mining industry in 2019.
The underground mining equipment market size was USD 24.5 billion in 2019 and it is expected to reach USD 30.5 billion by 2025, at a CAGR of 5% over the forecast period.
This statistic indicates the financial value of the underground mining equipment market both in 2019 and the projected market size for 2025. In 2019, the market size was reported to be USD 24.5 billion, and it is anticipated to grow to USD 30.5 billion by 2025, representing a Compound Annual Growth Rate (CAGR) of 5% over the forecast period. The CAGR provides insight into the annualized growth rate of the market, suggesting a steady and consistent increase in market size over the specified time frame. This information is crucial for industry stakeholders, investors, and policymakers to understand the potential growth and opportunities within the underground mining equipment sector.
As of 2020, the global surface mining equipment market is projected to grow at CAGR of 3.4% over the forecast period.
This statistic indicates that as of 2020, the global surface mining equipment market is expected to experience a Compound Annual Growth Rate (CAGR) of 3.4% over the forecast period. This means that the market for surface mining equipment, including machinery and tools used for mining operations above ground, is projected to expand at a steady average annual rate of 3.4% in the coming years. This growth rate suggests a positive outlook for the industry, potentially driven by factors such as increasing demand for minerals and metals, technological advancements in mining equipment, and the overall growth of the mining sector globally.
The mining equipment market in Latin America is anticipated to increase at an annual rate of 6.53% during 2016-2020.
The statistic indicates that the mining equipment market in Latin America is expected to grow steadily at an annual rate of 6.53% over the period from 2016 to 2020. This growth rate suggests a positive trend in the market, with an increasing demand for mining equipment in the region. Factors such as growth in mining activities, infrastructure development, and investment in the mining sector could be driving this upward trajectory. The statistic provides valuable insight for industry stakeholders, investors, and policymakers to make informed decisions and strategies in relation to the mining equipment market in Latin America.
The coal mining segment led the global mining equipment market with a share of 38.3% in 2019.
This statistic indicates that within the global mining equipment market in 2019, the coal mining segment held the largest portion of market share at 38.3%. This suggests that a significant portion of the demand for mining equipment worldwide came from the coal mining industry. The dominance of coal mining in the market could be attributed to various factors such as the continued reliance on coal as a primary source of energy in many regions, leading to a sustained need for mining equipment in this sector. Additionally, it suggests that companies specializing in manufacturing equipment tailored for coal mining operations may have a competitive advantage in the market compared to those catering to other segments of the mining industry.
The crushing, pulverizing, and screening equipment are expected to be the largest segment of the mining machinery market by 2025.
This statistic indicates that within the mining machinery market, the category of crushing, pulverizing, and screening equipment is projected to be the most dominant segment by the year 2025. This suggests that this particular type of machinery is anticipated to have the highest demand or generate the most revenue compared to other types of mining equipment. The expected prominence of crushing, pulverizing, and screening equipment in the market by 2025 could be influenced by factors such as technological advancements, evolving mining methods, changing resource requirements, or shifts in industry priorities. Overall, this statistic reflects a forecasted trend regarding the significance and market share of specific types of machinery within the mining sector in the near future.
Automated mining equipment market shipment in 2018 amounted to over 190 thousand units and it is expected to grow rapidly in the near future.
The statistic regarding the automated mining equipment market shipment in 2018, which totaled over 190 thousand units, indicates a significant level of demand and adoption of advanced mining technologies within the industry. The mention of expected rapid growth in the near future suggests that the trend of utilizing automated mining equipment is likely to continue and expand further. This projection is likely driven by factors such as efficiency gains, cost savings, and increased safety associated with automated mining operations. The increasing focus on digitization, automation, and sustainability in the mining sector supports the expectation of continued growth in the adoption of automated equipment in the industry, with potential implications for productivity and competitiveness.
The global market for mining equipment and machinery is expected to reach $188.77 billion by the end of 2025.
The statistic indicates that the global market for mining equipment and machinery is projected to expand significantly, with an estimated value of $188.77 billion anticipated by the end of 2025. This suggests a substantial growth trend in the mining equipment industry, driven by factors such as increasing demand for minerals and metals, technological advancements, and infrastructure development in emerging economies. The projected market value reflects opportunities for manufacturers and suppliers in the mining equipment sector to capitalize on the growing demand for efficient and sustainable solutions within the industry. Additionally, it indicates potential for further investments and innovations to meet the evolving needs of the global mining sector.
Mining trucks represented over 35.5% of the autonomous mining equipment market in 2019.
The statistic indicates that in 2019, mining trucks made up a significant portion of the autonomous mining equipment market, accounting for more than 35.5% of the total market share. This suggests that mining trucks equipped with autonomous technology were highly prevalent within the industry during that time period. It implies that the adoption of autonomous systems in the mining sector was primarily driven by the use of such trucks, showcasing their importance in modern mining operations. The statistic highlights the growing trend towards automation in the mining industry and the increasing reliance on advanced technologies to improve operational efficiency and safety.
The mining equipment market capitalization in the Asia-Pacific region is expected to reach $106.05 billion by 2026.
The statistic that the mining equipment market capitalization in the Asia-Pacific region is projected to reach $106.05 billion by 2026 indicates the anticipated total market value of the industry’s equipment manufacturers and related businesses in that region. This figure reflects the estimated sum of the market capitalizations of all companies involved in producing and supplying mining equipment in the Asia-Pacific area, taking into account factors such as market demand, economic conditions, technological advancements, and regulatory influences. The forecasted increase in market capitalization suggests potential growth opportunities and a positive outlook for the mining equipment sector in the Asia-Pacific region over the specified timeframe.
The overall mining equipment market in China is projected to continue to grow at a CAGR of around 5% from 2020 to 2027.
The statistic indicates that the mining equipment market in China is forecasted to maintain steady growth over the period from 2020 to 2027, with a Compound Annual Growth Rate (CAGR) of approximately 5%. This suggests that the demand for mining equipment in China is expected to increase consistently over the forecasted timeframe, driven by factors such as infrastructure development, industrialization, and the ongoing expansion of the mining industry in the country. The projection reflects a positive outlook for the market, indicating opportunities for manufacturers and suppliers to capitalize on the anticipated growth and market expansion in the Chinese mining equipment sector.
The mining equipment market in Europe is expected to grow at a CAGR of over 5% during the forecast period 2020-2025.
This statistic means that the mining equipment market in Europe is projected to experience a Compound Annual Growth Rate (CAGR) of more than 5% between the years 2020 and 2025. The CAGR is a measure of the annual growth rate of an investment over a specified time period, assuming that the growth happens at a steady rate. In this context, a CAGR of over 5% indicates that the market for mining equipment in Europe is expected to expand steadily and consistently during the forecast period. This growth may be driven by factors such as technological advancements, increasing demand for minerals and metals, or regulatory changes impacting the mining industry within the region.
The largest growth segment in the global mining machinery market is projected to be electric mining shovels, with market sales expected to reach $1.4 billion by 2020.
The statistic indicates that electric mining shovels are experiencing the highest growth rate in the global mining machinery market. By 2020, market sales for electric mining shovels are projected to reach $1.4 billion, signifying a significant increase in demand for this type of machinery. This growth trend suggests a shift towards more sustainable and efficient mining practices, as electric shovels are likely favored for their lower environmental impact and operational costs compared to traditional diesel-powered shovels. This statistic highlights the ongoing evolution and adoption of new technologies in the mining industry to meet modern efficiency and sustainability standards.
Conclusion
In conclusion, the mining equipment industry statistics provide valuable insights into the trends, challenges, and opportunities in this sector. By analyzing key data points such as market size, production, and demand, industry stakeholders can make informed decisions to drive growth and innovation. Keeping a pulse on these statistics will be crucial for companies looking to stay competitive and thrive in the ever-evolving mining equipment industry.
References
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