Japan Mining Equipment Market Size & Outlook, 2022-2030
Japan mining equipment market, 2018-2030 (US$M)
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Japan mining equipment market highlights
- The Japan mining equipment market generated a revenue of USD 3,468.7 million in 2022 and is expected to reach USD 4,911.0 million by 2030.
- The Japan market is expected to grow at a CAGR of 4.4% 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 3,468.7 million |
| Market revenue in 2030 | USD 4,911.0 million |
| Growth rate | 4.4% (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, Japan accounted for 2.6% 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 46.44% in 2022. Horizon Databook has segmented the Japan 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 the International Monetary Fund, the GDP growth of Japan declined by 4.6% in 2020 in the wake of the COVID-19 pandemic. The economic growth of Japan is expected to recover owing to increased business investments and rising consumer spending supported by shopping rebates. IMF estimated that the GDP growth of Japan 2.5% in 2022.
The COVID-19 pandemic wreaked havoc on the country’s economy, causing a sharp decline in the year 2020. Consumption and investment were stifled by regulations regarding hygiene, which slowed economic activity. Workers and households with a lesser loyalty to their jobs were adversely impacted.
A partial recovery was achieved, however, due to strong government backing and the reopening of the economy in 2021, growth is expected to pick up again due to improved macroeconomic policies and vaccine developments.
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Mining Equipment Market Scope
Mining Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
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Japan mining equipment market size, by equipment type, 2018-2030 (US$M)
Japan Mining Equipment Market Outlook Share, 2022 & 2030 (US$M)
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