Brazil Mining Equipment Market Size & Outlook, 2022-2030
Brazil mining equipment market, 2018-2030 (US$M)
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Brazil mining equipment market highlights
- The Brazil mining equipment market generated a revenue of USD 3,635.9 million in 2022 and is expected to reach USD 5,482.2 million by 2030.
- The Brazil market is expected to grow at a CAGR of 5.3% 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 3,635.9 million |
| Market revenue in 2030 | USD 5,482.2 million |
| Growth rate | 5.3% (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, Brazil accounted for 2.7% 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 45.06% in 2022. Horizon Databook has segmented the Brazil 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.
Brazil’s GDP shrank by 4.6% in 2021, according to IMF, as a result of the COVID-19 pandemic. Oil & gas production increased dramatically in recent years. According to British Petroleum’s World Energy 2021 statistical analysis, Brazil or was the leading oil producer in Central & South America.
Increasing chemical manufacturing activities and ongoing oil & gas activities in the country are anticipated to increase the need for mining equipment. Brazil is a global mining powerhouse and ranks among the world’s top five producers of a variety of essential commodities.
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Mining Equipment Market Scope
Mining Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
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Brazil mining equipment market size, by equipment type, 2018-2030 (US$M)
Brazil Mining Equipment Market Outlook Share, 2022 & 2030 (US$M)
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