Argentina Mining Equipment Market Size & Outlook
Argentina mining equipment market, 2018-2030 (US$M)
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Argentina mining equipment market highlights
- The Argentina mining equipment market generated a revenue of USD 2,197.2 million in 2022 and is expected to reach USD 3,406.2 million by 2030.
- The Argentina market is expected to grow at a CAGR of 5.6% from 2023 to 2030.
- In terms of segment, surface mining equipment was the largest revenue generating equipment type in 2022.
- Underground Mining Equipment is the most lucrative equipment type segment registering the fastest growth during the forecast period.
Mining equipment market data book summary
| Market revenue in 2022 | USD 2,197.2 million |
| Market revenue in 2030 | USD 3,406.2 million |
| Growth rate | 5.6% (CAGR from 2022 to 2030) |
| Largest segment | Surface mining equipment |
| Fastest growing segment | Underground Mining Equipment |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Underground Mining Equipment, Surface Mining Equipment, Crushing, Pulverizing & Screening Equipment, Drills & Breakers |
| Key market players worldwide | Epiroc AB DR, Caterpillar Inc, China Coal Energy Co Ltd Class H, Komatsu Ltd, Liebherr Group, Metso Corp |
Other key industry trends
- In terms of revenue, Argentina accounted for 1.6% of the global mining equipment market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil mining equipment market is projected to lead the regional market in terms of revenue in 2030.
- Argentina is the fastest growing regional market in Latin America and is projected to reach USD 3,406.2 million by 2030.
Surface mining equipment was the largest segment with a revenue share of 44.97% in 2022. Horizon Databook has segmented the Argentina mining equipment market based on underground mining equipment, surface mining equipment, crushing, pulverizing & screening equipment, drills & breakers covering the revenue growth of each sub-segment from 2018 to 2030.
Prior to the global COVID-19 pandemic, Argentina was already experiencing severe economic upheaval. According to the IMF, the nation’s economy shrank by 2.2% in 2019. According to OECD (Organization for Economic Co-operation and Development) projections, Argentina’s economy expanded by 3.7% in 2021, whereas the country’s GDP contracted by 10.3% due to the impact of COVID-19.
In the future years, economic aid and standby loans from the IMF for economic development and debt restructuring are expected to enhance Argentina’s economic picture. Argentina’s mining sector has enormous potential.
Copper mining projects are expected to account for more than half of Argentina’s USD 27 Billion mining portfolio. The increasing mining projects in the country will pave the way for equipment manufacturers and its market’s growth.
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Mining Equipment Market Scope
Mining Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
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Argentina mining equipment market size, by equipment type, 2018-2030 (US$M)
Argentina Mining Equipment Market Outlook Share, 2022 & 2030 (US$M)
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