Australia Mining Equipment Market Size & Outlook
Australia mining equipment market, 2018-2030 (US$M)
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Australia mining equipment market highlights
- The Australia mining equipment market generated a revenue of USD 8,520.3 million in 2022 and is expected to reach USD 14,511.7 million by 2030.
- The Australia market is expected to grow at a CAGR of 6.9% 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 8,520.3 million |
| Market revenue in 2030 | USD 14,511.7 million |
| Growth rate | 6.9% (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, Australia accounted for 6.3% 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 Asia Pacific, China mining equipment market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 14,511.7 million by 2030.
Surface mining equipment was the largest segment with a revenue share of 41.27% in 2022. Horizon Databook has segmented the Australia 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.
According to IMF, the GDP of Australia contracted by 2.4% in 2020 and the country’s economy is expected to recover with a GDP of 4.5% in 2021 and 2.8% in 2022. According to the Reserve Bank of Australia, Australia was one of the major economies that performed relatively well in 2020 considering the country's GDP contracted by only 1.1%.
According to the Australian Trade and Investment Commission, it has the Economic Demonstrated Resources (EDR) of gold, diamond, lead, iron ore, zircon, nickel, rutile, tantalum, zinc, uranium, and the world's second-largest EDR of brown coal, bauxite, tungsten, copper, ilmenite, niobium, and silver.
Over the last decade, the mining boom has resulted in the establishment of an Australian Mining Equipment, Technology, and Services (METS) sector that works both in Australia and internationally. Furthermore, Australia's METS sector contributes roughly 57.74 Billion to its GDP each year, including at least USD 17.32 Billion in exports.
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Mining Equipment Market Scope
Mining Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia mining equipment market size, by equipment type, 2018-2030 (US$M)
Australia Mining Equipment Market Outlook Share, 2022 & 2030 (US$M)
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