Germany Mining Equipment Market Size & Outlook, 2022-2030
Germany mining equipment market, 2018-2030 (US$M)
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Germany mining equipment market highlights
- The Germany mining equipment market generated a revenue of USD 5,522.0 million in 2022 and is expected to reach USD 7,759.7 million by 2030.
- The Germany market is expected to grow at a CAGR of 4.3% 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 5,522.0 million |
| Market revenue in 2030 | USD 7,759.7 million |
| Growth rate | 4.3% (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, Germany accounted for 4.1% 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 Europe, Germany mining equipment market is projected to lead the regional market in terms of revenue in 2030.
- Norway is the fastest growing regional market in Europe and is projected to reach USD 2,751.2 million by 2030.
Surface mining equipment was the largest segment with a revenue share of 42.03% in 2022. Horizon Databook has segmented the Germany 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 projections, the German economy decreased by 2.9% in 2021 as a result of the spread of COVID-19. The OECD projected that the economy will increase by 1.9% in 2022 and 1.7% in 2023, with the recovery being hindered by the Ukraine conflict and the Russian oil embargo.
In 2021, the German economy struggled to achieve a growth rate of 2% due to global supply bottlenecks in intermediate items, which prevented the local sector from accelerating despite healthy domestic and foreign demand.
Rising interest rates in the U.S. and Europe along with ongoing supply chain issues in Germany have led to a shortage of raw materials like metals and stainless steel. This is expected to have a significant effect on the growth of mining equipment market in Germany over the forecast period.
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Mining Equipment Market Scope
Mining Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
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Germany mining equipment market size, by equipment type, 2018-2030 (US$M)
Germany Mining Equipment Market Outlook Share, 2022 & 2030 (US$M)
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