Global mining equipment market stands at $132.4 billion in 2021 and is forecast to reach $208.9 billion by 2030, according to a report by Spherical Insights&Consulting, a leading consultancy, on February 1. With a compound annual growth rate (CAGR) of 5.72% over the forecast period, the market is expected to be driven by increasing demand for prototype solutions in many industrial sectors, including aerospace, automotive, healthcare and military.
Based on usage, the mining equipment market is divided into metal mining, non-metal mining and coal mining. The metals mining industry is expected to grow at a compound annual rate of 6.2% in the mining equipment market over the forecast period.Demand for precious metals is rising, government regulation is favorable, and transportation of metal resources is increasing, all of which helps the metal mining industry. However, due to the need to remove rocks, stones and sand, non-metallic mining type equipment is expected to grow at the fastest rate in the coming years.
HUNDSON MINING LTD is a mining company that integrates mineral scientific inspection, mining equipment leasing, ore acquisition and sales. In line with the development of the times and the needs of consumers, Hudson officially established the mining equipment leasing center in March 2023, and launched the leasing of mining equipment such as excavators, forklifts and dump trucks.