Europe Mining Equipment Market Size & Outlook, 2022-2030
Europe mining equipment market, 2018-2030 (US$M)
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Europe mining equipment market highlights
- The Europe mining equipment market generated a revenue of USD 29,858.2 million in 2022.
- The market is expected to grow at a CAGR of 4.5% 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, Norway is expected to register the highest CAGR from 2023 to 2030.
Europe data book summary
| Market revenue in 2022 | USD 29,858.2 million |
| Market revenue in 2030 | USD 42,352.8 million |
| Growth rate | 4.5% (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, Europe region accounted for 22.1% 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 37.8% in 2022. Horizon Databook has segmented the Europe 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 Eurostat, the European Union’s gross domestic product increased by 5.4% in 2021. According to the OECD, the GDP is expected to increase by 2.6% in 2022 and 1.6% in 2023. In the first half of 2022, the war in Ukraine and the lockdown in China are projected to considerably impact growth.
The Russia-Ukraine war has directly and indirectly impacted the EU economy, putting it on a path of slower development and greater inflation. Supportive policies, strong growth in wages, and continuous employment creation are some of the factors contributing to the region’s economic growth.
In addition, public investment, notably in digital and transport infrastructure, is further anticipated to positively impact economic growth. Private investments, especially in the construction sector, are expected to drive the region’s economic growth.
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Mining Equipment Market Scope
Mining Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
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Europe mining equipment market size, by country, 2018-2030 (US$M)
Europe Mining Equipment Market Outlook Share, 2022 & 2030 (US$M)
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