Emphasis on Equipment Type (Underground Mining Equipment and Surface Mining Equipment); Application Type (Metal Mining, Mineral Mining and Coal Mining); Propulsion (Diesel, Gasoline and Electric);and Country
The MENA mining equipment market was valued at USD 370.8 Mn in 2022 and is expected to grow at a CAGR of 6% during the forecast period (2023-2030). The Middle East and North Africa (MENA) region are witnessing a significant uptick in the adoption of mining equipment driven by several key factors. With increasing industrialization, urbanization, and infrastructure development across MENA countries, there’s a growing demand for raw materials like minerals, metals, and fossil fuels. To meet this demand, mining companies are investing in advanced equipment and technologies to extract resources efficiently and sustainably. Moreover, the discovery of new deposits and the depletion of surface reserves are prompting a shift towards underground mining methods, necessitating specialized equipment designed for subterranean operations. Moreover, the growing acquisitions and partnerships between the companies is also a factor driving the growth of the market. For instance, in 2024, UAE-based construction-tech company Plant & Equipment has acquired Global Equipment Trading for an unknown sum. The acquisition is part of Plant & Equipment’s expansion strategy in the GCC and MENA regions, according to Wamda.
Some of the major players operating in Komatsu, Epiroc AB, Sandvik AB, Hitachi Construction Machinery Co. Ltd, LIEBHERR, Doosan Corporation, SANY Group, XCMG Group, JCB Ltd, Caterpillar. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst application, the market is segmented into metal mining, mineral mining and coal mining. Metal mining held a considerable share of the market in 2022 and will attain significant growth during forecast period.”
Based on the application, the market is segmented into metal mining, mineral mining, and coal mining. Metal mining held a considerable share of the market in 2022 and will attain significant growth during the forecast period. Metal mining is on the rise in the Middle East and North Africa (MENA) region due to various reasons. One major factor is the increasing demand for metals like copper, gold, and aluminum in industries such as construction, electronics, and manufacturing. As economies in MENA grow, so does the need for metals to build infrastructure and produce goods. Another reason is the discovery of new metal deposits in the region, encouraging companies to invest in mining operations. With advancements in technology, companies can now extract metals more efficiently and economically, driving the growth of metal mining in MENA.
“Saudi Arabia dominated the market.”
In Saudi Arabia, the mining sector has been experiencing a surge in growth and development in recent years, leading to an increased adoption of advanced mining equipment. With a wealth of mineral resources such as gold, phosphate, and bauxite, the country has been actively investing in modernizing its mining industry. This has created opportunities for companies to supply cutting-edge equipment that can enhance efficiency and productivity in extraction processes. The growing adoption of mining equipment in Saudi Arabia is not only boosting the country’s economy but also positioning it as a key player in the MENA region’s mining sector.
MENA Mining Equipment Market Report Coverage
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Key Insights
4. Market Synopsis
5. Executive Summary
6. Mena Mining Equipment Market Revenue (usd Bn), 2020-2030f
7. Market Insights By Equipment Type
8. Market Insights By Application
9. Market Insights By Propulsion
10. Market Insights By Country
11. Mena Mining Equipment Market Dynamics
12. Mena Mining Equipment Market Opportunities
13. Mena Mining Equipment Market Trends
14. Demand And Supply-side Analysis
15. Value Chain Analysis
16. Competitive Scenario
17. Companies Profiled
18. Disclaimer
Research Methodology for the MENA Mining Equipment Market Analysis (2023-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the MENA mining equipment market were the three major steps undertaken to create and analyze the adoption of MENA mining equipment in major countries. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the MENA mining equipment market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the MENA mining equipment market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the MENA mining equipment market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as equipment type, application and propulsion. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the MENA mining equipment market. Further, we conducted factor analysis using dependent and independent variables such as equipment type, application and propulsion of the MENA mining equipment market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the MENA mining equipment market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the MENA mining equipment market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Key Stakeholders of MENA Mining Equipment Market in the Middle East Region
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the MENA mining equipment market. The data was split into several segments & and sub-segments post studying various parameters and trends in the areas of the equipment type, application and propulsion of the MENA mining equipment market.
The main objective of the MENA mining equipment Market Study
The current & future market trends of the MENA mining equipment market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional and country level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Q1: What is the current market size and growth potential of the MENA mining equipment market?
Q2: What are the driving factors for the growth of the MENA mining equipment Market?
Q3: Which segment has the largest share of the MENA mining equipment market by Application Type?
Q5: Which country will dominate the MENA Mining Equipment market?
Q6: Who are the key players operating in the MENA mining equipment market?
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