Heavy Mining Equipment Procurement Intelligence Report, 2023 - 2030
Heavy Mining Equipment Procurement Intelligence The heavy mining equipment category is anticipated to grow at a CAGR of 5.1% from 2023 to 2030. In 2022, the category size was estimated to be valued at USD 135 Billion. The constantly expanding mining activities in Asia Pacific dominate the category market. The region is benefiting from high demand for metals and minerals across a range of sectors globally. The mining industry, being one of the foundational sectors of the economy, supports the category growth. Power and cement industries helped the category to thrive due to the rapid expansion of infrastructure. Other major demand drivers are increase in a rising need for mineral fertilizers to improve agricultural yield, road construction projects, and the use of technology and automation in road construction and mining. Larger projects require complex, efficient machinery for better efficiency and safety, which is driving the category's expansion. Demand for the category is increa...