Middle East & Africa Mining Equipment Market Size & Outlook
Middle East & Africa mining equipment market, 2018-2030 (US$M)
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MEA mining equipment market highlights
- The MEA mining equipment market generated a revenue of USD 14,823.7 million in 2022.
- The market is expected to grow at a CAGR of 5.5% 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, South Africa is expected to register the highest CAGR from 2023 to 2030.
MEA data book summary
| Market revenue in 2022 | USD 14,823.7 million |
| Market revenue in 2030 | USD 22,816.7 million |
| Growth rate | 5.5% (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, MEA region accounted for 11.0% 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 42.19% in 2022. Horizon Databook has segmented the Middle East & Africa 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 IMF, the GDP of the Middle East & Africa increased at a rate of 4% in 2021. Factors such as the rolling out of the COVID-19 vaccine, improving oil prices, and ongoing government initiatives to provide economic stimulus to various countries in the region are fueling the GDP growth of the Middle East & Africa. Oil producers in the region are potentially profiting from the increasing oil prices.
According to the World Bank MENA Economic Update, the economy of the Middle East & North Africa (MENA) is expected to grow post-pandemic by 5.2%. The Middle East & Africa is characterized by several developing as well as underdeveloped countries. Some of the major countries in the region include Saudi Arabia, the UAE, Qatar, Oman, Egypt, and South Africa.
Key Regions: U.S. , UK , Japan , Brazil , South Africa
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Mining Equipment Market Scope
Mining Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
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MEA mining equipment market size, by country, 2018-2030 (US$M)
Middle East & Africa Mining Equipment Market Outlook Share, 2022 & 2030 (US$M)
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