Asia Pacific Mining Equipment Market Size & Outlook
Asia Pacific mining equipment market, 2018-2030 (US$M)
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Asia Pacific mining equipment market highlights
- The Asia Pacific mining equipment market generated a revenue of USD 47,254.6 million in 2022.
- The market is expected to grow at a CAGR of 6.1% 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.
- Country-wise, Australia is expected to register the highest CAGR from 2023 to 2030.
Asia Pacific data book summary
| Market revenue in 2022 | USD 47,254.6 million |
| Market revenue in 2030 | USD 75,615.4 million |
| Growth rate | 6.1% (CAGR from 2022 to 2030) |
| Largest segment | Surface mining equipment |
| Fastest growing segment | Underground Mining Equipment |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 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, Asia Pacific region accounted for 35.0% of the global mining equipment market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 75,615.4 million by 2030.
Surface mining equipment was the largest segment with a revenue share of 36.68% in 2022. Horizon Databook has segmented the Asia Pacific 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.
Asia Pacific is the fastest-growing region in the world, accounting for over two-thirds of global economic growth. According to a report by the International Monetary Fund (IMF), growth in GDP in Asia Pacific had declined by 1.5% in 2020 in light of the containment measures and global economic slowdown during the COVID-19 pandemic.
The region’s GDP growth is expected to rebound to 7.6% in 2021, and moderate to 5.4% in 2022. The region is home to developed countries such as Japan and Australia. It also has a number of developing countries such as China, India, Thailand, and Indonesia.
The ongoing industrialization and urbanization and improving public infrastructure, including healthcare, transportation, and sports facilities in countries such as China, India, and South Korea are expected to positively affect the growth of the market in the region during the forecast period.
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Mining Equipment Market Scope
Mining Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific mining equipment market size, by country, 2018-2030 (US$M)
Asia Pacific Mining Equipment Market Outlook Share, 2022 & 2030 (US$M)
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