Sweden Mining Equipment Market Size & Outlook, 2022-2030
Sweden mining equipment market, 2018-2030 (US$M)
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Sweden mining equipment market highlights
- The Sweden mining equipment market generated a revenue of USD 3,029.9 million in 2022 and is expected to reach USD 4,229.3 million by 2030.
- The Sweden market is expected to grow at a CAGR of 4.3% 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 3,029.9 million |
| Market revenue in 2030 | USD 4,229.3 million |
| Growth rate | 4.3% (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, Sweden accounted for 2.2% 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 Europe, Germany mining equipment market is projected to lead the regional market in terms of revenue in 2030.
- Norway is the fastest growing regional market in Europe and is projected to reach USD 2,751.2 million by 2030.
Surface mining equipment was the largest segment with a revenue share of 34.16% in 2022. Horizon Databook has segmented the Sweden 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 OECD, growth slowed by 2.2% in 2021 and is expected to slow by 1% in 2023. Increased global uncertainty will reduce business investment and exports. A strong labor market, high savings, and fiscal stimulus are supporting household consumption, but it will slow as inflation and interest rates rise in Sweden.
Sweden is the largest mining country accounting for 91% of its iron ore, 9% of its copper, and 24- 39% of its gold, zinc, silver, and lead, for the sixth year in a row, The country has 16 operational mines as of 2022. Of these, 13 are metal mines.
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Mining Equipment Market Scope
Mining Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
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Sweden mining equipment market size, by equipment type, 2018-2030 (US$M)
Sweden Mining Equipment Market Outlook Share, 2022 & 2030 (US$M)
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