Mexico Mining Equipment Market Size & Outlook, 2022-2030
Mexico mining equipment market, 2018-2030 (US$M)
Related Markets
Mexico mining equipment market highlights
- The Mexico mining equipment market generated a revenue of USD 6,426.1 million in 2022 and is expected to reach USD 9,311.7 million by 2030.
- The Mexico market is expected to grow at a CAGR of 4.7% 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 6,426.1 million |
| Market revenue in 2030 | USD 9,311.7 million |
| Growth rate | 4.7% (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, Mexico accounted for 4.8% 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 North America, U.S. mining equipment market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 9,311.7 million by 2030.
Underground mining equipment was the largest segment with a revenue share of 42.06% in 2022. Horizon Databook has segmented the Mexico 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’s (IMF) Economic Outlook, Mexico’s GDP growth rate dropped by 8.2% in 2020. This decline can be attributed to the nationwide lockdown implemented to limit the spread of COVID-19.
Mexico is a geographically critical location for outsourcing production activities as it is adjacent to the U.S., one of the major export destinations for component manufacturers. Furthermore, the ease of doing business, geographical proximity to the U.S., and supply source for distributors & retailers make it one of the most preferred locations for manufacturers.
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Mining Equipment Market Scope
Mining Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
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Mexico mining equipment market size, by equipment type, 2018-2030 (US$M)
Mexico Mining Equipment Market Outlook Share, 2022 & 2030 (US$M)
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