Saudi Arabia Mining Equipment Market Size & Outlook
Saudi Arabia mining equipment market, 2018-2030 (US$M)
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Saudi Arabia mining equipment market highlights
- The Saudi Arabia mining equipment market generated a revenue of USD 6,183.1 million in 2022 and is expected to reach USD 9,714.8 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 5.8% 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 6,183.1 million |
| Market revenue in 2030 | USD 9,714.8 million |
| Growth rate | 5.8% (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, Saudi Arabia accounted for 4.6% 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 Middle East & Africa, Saudi Arabia mining equipment market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 6,913.2 million by 2030.
Surface mining equipment was the largest segment with a revenue share of 42.36% in 2022. Horizon Databook has segmented the Saudi Arabia 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 World Bank, COVID-19 caused a 3.2% decline in Saudi Arabia’s GDP in 2021. The country’s economy is projected to grow by 7.8% in 2022, post-pandemic, while the economy of G20 countries is projected to grow by 2.9% due to rising oil prices in the region and ongoing non-oil activities, as oil output is expected to increase globally and pandemic pressure subsides.
According to the OECD’s 2022 economic projections. Saudi Arabia has minimal trading with Russia and Ukraine. The economic repercussions of the Ukraine-Russia conflict have enhanced Saudi Arabia’s medium-term fiscal and external prospects. Stricter global financial conditions and shifting oil prices may hinder the country’s economic progress.
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Mining Equipment Market Scope
Mining Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
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Saudi Arabia mining equipment market size, by equipment type, 2018-2030 (US$M)
Saudi Arabia Mining Equipment Market Outlook Share, 2022 & 2030 (US$M)
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