China Mining Equipment Market Size & Outlook, 2022-2030
China mining equipment market, 2018-2030 (US$M)
Related Markets
China mining equipment market highlights
- The China mining equipment market generated a revenue of USD 19,301.8 million in 2022 and is expected to reach USD 30,909.0 million by 2030.
- The China market is expected to grow at a CAGR of 6.1% from 2023 to 2030.
- In terms of segment, underground 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 19,301.8 million |
| Market revenue in 2030 | USD 30,909.0 million |
| Growth rate | 6.1% (CAGR from 2022 to 2030) |
| Largest segment | Underground 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, China accounted for 14.3% 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.
Underground mining equipment was the largest segment with a revenue share of 35% in 2022. Horizon Databook has segmented the China 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.
China is one of the most highly emerging countries globally. According to the World Bank, the country’s GDP stood at USD 14.34 trillion in 2019. Major industries contributing to the country’s economic growth include manufacturing, mining, energy, and agriculture.
China is a major hub for mining equipment demand dominating the Asia Pacific region. Local manufacturers are rapidly upgrading and expanding their quality to meet both domestic and international demand. Many Chinese manufacturers have opened manufacturing facilities in the U.S. and Brazil allowing them to get closer to the miners.
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Mining Equipment Market Scope
Mining Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
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China mining equipment market size, by equipment type, 2018-2030 (US$M)
China Mining Equipment Market Outlook Share, 2022 & 2030 (US$M)
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