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According to statistics, the global mining equipment market size will be US$118.3 billion in 2023. With the expansion of resource demand in Europe and North America and the catalysis of equipment renewal in the Middle East and Africa, the mining equipment market size is expected to reach US$130.8 billion in 2025. At the same time, with the steady growth of my country's energy consumption, the market size of the mining industry has been driven to grow, and the mining machinery market has a bright future. Judging from the annual reports of listed engineering machinery companies in 2023, mining machinery has also become a rapidly growing emerging sector. Many leading engineering machinery companies have made efforts in both mining machinery products and markets, and the mining machinery market has ushered in further development.
With the improvement of the strength of domestic brands, mining machinery and equipment of major companies have made new breakthroughs in domestic and foreign markets in recent years. In recent years, with the improvement of the level of my country's mining machinery manufacturing industry, some domestic equipment has reached or has approached the international advanced level, not only completely replacing imports in the domestic market, but also fully possessing the ability and level to participate in international competition.
Coupled with the support of relevant policies such as the "Belt and Road Initiative", going abroad to explore overseas markets and participate in international competition is becoming an inevitable choice for the domestic mining equipment manufacturing industry. Previously, for a long time, the global mining machinery industry, especially the high-end market, has been monopolized by European and American companies. However, in recent years, with the support of national policies and the vigorous promotion of infrastructure construction, domestic mining machinery brands have gradually embarked on the road of standardized and large-scale development, and a number of companies with significant influence have emerged. In the future, as the integration of digital and intelligent technologies with mining continues to accelerate, the construction of smart mines and green mines has become a hot topic of common concern to the country, industry and enterprises. my country's mining machinery technology research and development is developing in the direction of unmanned, intelligent and digital, and equipment is constantly upgrading to "large-scale" and "intelligent". The mining machinery industry and enterprises should transform from complete machines to complete sets, and the industry's business model should be transformed from pure manufacturing to a comprehensive model of "equipment manufacturing + service" to obtain better operating benefits.
