Lucintel Forecasts the Global Mining Equipment Market to Reach $224 Billion by 2030
Lucintel Forecasts the Global Mining Equipment Market to Reach $224 Billion by 2030
Blog Article
According to the recent study the global mining equipment market is projected to reach an estimated $224 billion by 2030 at a CAGR of 3% from 2023 to 2030. Growth in this market is primarily driven by growth in mining activities, increasing demand for metal and mineral commodities in growing economies, like India and China.
A more than 150-page report to understand trends, opportunities and forecast in mining equipment market by product type (underground mining machinery, surface mining machinery, drills and breakers, crushing, pulverizing, screening equipment, mineral processing machinery, and parts and attachments), application (coal, mineral, and metal), function type (transportation, processing, and excavation), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Within this market, metal mining will remain the largest application segment, and it is also expected to witness the highest growth over the forecast period due to increasing demand of metals in construction and automotive industries.
Asia Pacific will remain the largest region due to increasing demand for coal for power generation and rising metal consumption because of large-scale infrastructure development.
Hitachi, Hyundai Heavy Industries Holdings Co Ltd, AB Volvo, Caterpillar, Deere and Company are the major suppliers in the mining equipment market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected]. To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
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Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. +1 972.636.5056