Saudi Arabia Mining Equipment Market Size & Outlook
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Saudi Arabia mining equipment market highlights
- The Saudi Arabia mining equipment market generated a revenue of USD 6,870.6 million in 2024 and is expected to reach USD 11,761.1 million by 2033.
- The Saudi Arabia market is expected to grow at a CAGR of 6.2% from 2025 to 2033.
- In terms of segment, surface mining equipment was the largest revenue generating equipment type in 2024.
- 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 2024 | USD 6,870.6 million |
| Market revenue in 2033 | USD 11,761.1 million |
| Growth rate | 6.2% (CAGR from 2025 to 2033) |
| Largest segment | Surface mining equipment |
| Fastest growing segment | Underground Mining Equipment |
| Historical data | 2021 - 2023 |
| Base year | 2024 |
| Forecast period | 2025 - 2033 |
| 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 2024.
- Country-wise, China is expected to lead the global market in terms of revenue in 2033.
- In Middle East & Africa, Saudi Arabia mining equipment market is projected to lead the regional market in terms of revenue in 2033.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 8,400.0 million by 2033.
Surface mining equipment was the largest segment with a revenue share of 44.96% in 2024. 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 2021 to 2033.
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 |
|---|---|---|---|---|
| China Coal Energy Co Ltd Class H | View profile | 47122 | No. 1 Huangsidajie, Chaoyang District, Beijing, China, People's Republic of, 100120 | https://www.chinacoalenergy.com |
| Liebherr Group | View profile | 10001+ | Biberach An Der Riß, Baden-Wurttemberg, Germany, Europe | http://www.liebherr.com |
| Metso Corp | View profile | 17121 | Rauhalanpuisto 9, Helsinki, Finland, 02330 | https://www.metso.com |
| Epiroc AB DR | View profile | 18157 | Sickla Industrivag 19, Nacka, Stockholm, Sweden, SE-131 54 | https://www.epirocgroup.com |
| Komatsu Ltd | View profile | 70608 | 3-6 Akasaka 2-chome, Minato-ku, Tokyo, Japan, 107-8414 | https://www.komatsu.jp |
| Caterpillar Inc | View profile | 121173 | 5205 N. O'Connor Boulevard, Suite 100, Irving, TX, United States, 75039 | https://www.caterpillar.com |
Saudi Arabia mining equipment market size, by equipment type, 2021-2033 (US$M)
Saudi Arabia Mining Equipment Market Outlook Share, 2024 & 2033 (US$M)
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