Global Mining And Oil And Gas Field Machinery Manufacturing Market 2024 , Forecast To 2033
7 Mar, 2024
The mining and oil and gas field machinery manufacturing market has experienced strong growth recently, with its size growing from $178.92 billion in 2023 to $192.65 billion in 2024, marking a compound annual growth rate (CAGR) of 7.7%. This growth can be attributed to factors such as global demand for natural resources and infrastructure development projects. Looking ahead, the market is expected to see continued growth, reaching $253.4 billion in 2028 at a CAGR of 7.1%. This growth may be driven by factors such as environmental sustainability, renewable energy transition, and geopolitical factors. Major trends in this period may include advanced automation and robotics, digitalization, and a focus on sustainability.
Global Mining And Oil And Gas Field Machinery Manufacturing Market Key Driver
Increased oil exploration is propelling the growth of the mining and oil and gas field machinery manufacturing market (5). With US crude oil reserves growing by 16% in 2021 and oil production reaching 11.6 million barrels per day, there is a heightened demand for machinery used in oil exploration, thus driving market growth in this sector.
Get A Free Sample Of The Global Mining And Oil And Gas Field Machinery Manufacturing Market ReportGlobal Mining And Oil And Gas Field Machinery Manufacturing Market Segments
The mining and oil and gas field machinery manufacturing market covered in this report is segmented –
1) By Machinery Types: Oil And Gas Field Machinery And Equipment, Mining Machinery and Equipment, Others Machinerys
2) By Application: On-shore, Off-shore
By Geography: The countries covered in the mining and oil and gas field machinery manufacturing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the mining and oil and gas field machinery manufacturing market in 2023. The regions covered in the mining and oil and gas field machinery manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Mining And Oil And Gas Field Machinery Manufacturing Industry Players
Caterpillar Inc.; Komatsu Limited; Advantech Co. Ltd.; ERA Mining Machinery Limited; TechnipFMC plc; Schlumberger Limited; General Electric Company; Industrea Limited; Joy Global Inc.; Baker Hughes Company; National Oilwell Varco Inc.; Sandvik AB; Epiroc AB; The Liebherr Group; Hitachi Ltd.; Terex Corporation; United Heavy Machinery; Taiyuan Heavy Industry Co. Ltd.; Atlas Copco; Doosan Corporation; Hyundai Heavy Industries Co. Ltd.; J.C. Bamford Excavators Limited; Metso Corporation; Mitsubishi Heavy Industries Ltd.; Nippon Steel Corporation; Outotec Oyj; ThyssenKrupp AG; Bell Equipment Limited; SANY Group Co. Ltd.; Vermeer Corporation
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Mining And Oil And Gas Field Machinery Manufacturing Market Overview
Mining and oil-Gas field machinery manufacturing refers to the production of heavy equipment and machines used in the mining, oil, and gas machinery sectors. These machines are used in mining, quarrying, tunnelling, construction, geological exploration, and blasting to drill through both soft and hard rock.