The market size for mining, material handling, and mineral processing equipment in the Middle East and Africa (MEA) is being driven by the use of modern technologies to increase production, decrease expenses, and improve efficiency.
Wilmington, Delaware, United States, Feb. 22, 2024 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The Middle East & Africa (MEA) mining, material handling & mineral processing equipment market was projected to attain US$ 276.6 million in 2022. It is anticipated to garner a 5.4% CAGR from 2023 to 2031 and by 2031, the market is likely to attain US$ 448.0 million by 2031.
The market for mining, material handling, and mineral processing equipment is steadily expanding in the MEA area. The increasing demand for minerals and metals due to population increase, infrastructure development, and fast urbanization is anticipated to present profitable prospects for market expansion.
The MEA region’s governments are putting laws and programs into place to entice capital to the mining industry. A climate that is more friendly to business is created by transparent regulatory frameworks, tax incentives, and attempts to simplify permit processes.
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Key Findings of Market Report
- The oil and gas industry has historically been the main driver of economic growth in the GCC.
- The bulk of the mineral reserves in the area have not been thoroughly investigated. It is estimated that Saudi Arabia’s mineral reserves have a potential value of US$ 1.3 trillion.
- The GCC has made the decision to lessen its reliance on the oil and gas sector and diversify its economy in recent years.
- The mining and exploitation of mineral reserves, including those of copper, gold, silver, iron ore, and bauxite, has received more money from the GCC than from the oil industry.
- Due to the influx of investments, the mining sector in the GCC is anticipated to grow at a faster rate, allowing for significant long-term market expansion.
Middle East & Africa (MEA) Mining, Material Handling & Mineral Processing Equipment Market: Key Players
The entire market structure is impacted by the extensive range of mining and mineral processing equipment that large multinational corporations provide.
The following companies are well-known participants in the Middle East & Africa (MEA) mining, material handling & mineral processing equipment market:
- Caterpillar
- Elecon Engineering Co. Ltd.
- Epiroc AB
- FLSmidth & Co. A/S
- Hitachi Construction Machinery Co. Ltd.
- Kobelco Construction Machinery
- Komatsu
- Konecranes
- Liebherr
- MechProTech (Pty) Ltd
- Metso Outotec
- MMD GPHC Ltd.
- Sandvik
- Sany Heavy Industry Co. Ltd
- Takraf GmbH
- Tega Industries Ltd.
- Terex Corporation
- Volvo Construction Equipment
- Weir Group
- ZPMC China – Shanghai Zhenhua Heavy Industries Company Limited
Market Trends for Mining, Material Handling & Mineral Processing Equipment
- According to end-use, open cast mining is anticipated to dominate. Due to the substantial surface resources of metals and minerals in many of the MEA region’s nations, open cast mining is a practical and effective technique of extraction.
- Particularly suitable for deposits close to the earth’s surface is surface mining. Large-scale resource extraction, which is typical in the MEA region, is best suited for open cast mining. This process makes it possible to effectively extract significant amounts of metals and minerals that are required for a variety of businesses.
- In general, open cast mining is seen to be more economical than underground mining techniques, particularly when working with sizable near-surface resources. It is the favored option for resource exploitation in the MEA area due to this economic benefit.
Middle East & Africa (MEA) Market for Mining, Material Handling & Mineral Processing Equipment: Regional Outlook
- Mineral resources abound in South Africa, including coal, manganese, platinum, diamonds, gold, and diamonds. Its mining sector is well-established and mature, having a long history that dates back to the late 1800s.
- It is also a major market for mining equipment due to its strong infrastructure, which facilitates mining activities. The wide variety of minerals supports a robust mining industry and steady demand for mining equipment.
- South Africa’s economy is greatly influenced by the mining sector, which generates jobs, tax money for the government, and foreign exchange profits. This economic importance bolsters the nation’s position as a major power in the material handling, mining, and mineral processing equipment markets in the Middle East and Africa (MEA).
Key developments by the players in this market are:
- A mining solution for underground mining operations that is compatible with the company’s longhole drills (DL) i-series machines—which provide three levels of tele-remote operations—was introduced by Sandvik Mining and Rock Solutions in November 2023.
- Trigon Metals Inc. selected Epiroc South Africa Pty Ltd in August 2023 to buy $8.9 million worth of underground mining equipment. At the company’s Kombat copper mine in Namibia, where output is expected to increase starting in April 2024, this equipment will make up the majority of the fleet for underground mining when it resumes operations from the Asis West shaft.
Middle East & Africa (MEA) Mining, Material Handling & Mineral Processing Equipment Market Segmentation
By Service
- Mining
- Material Handling
- Mineral Processing
By Equipment
- Mining Equipment
- Excavators and Shovels
- Trucks
- Dozers
- Surface Miner Equipment
- Bucket Wheel & Compact Bucket Wheel Excavators
- Others
- Material Handling Equipment
- Conveyor (Trough Conveyors)
- Conveyor (Pipe Conveyors)
- Conveyor (Overland Belt Conveyors)
- High Angle Conveyors
- Hoppers and Silos
- In-pit Crushing and Conveying
- Wagon Tipplers
- Mobile Reclaimer & Spreaders
- Barrel Reclaimers
- High Capacity Portal & Semi Portal Reclaimers
- Paddle Feeders and Trippers
- Separation and Weighing
- Shiploaders, Ship-unloaders and Other Equipment for Ports
- Crane Lifts
- Shipyard Cranes/Ship Building Cranes
- Stacker
- Others
- Mineral Processing Equipment
- Crusher/Grinder
- Screeners
- Roll Sizers
- FGD Wet Ball Mills
- Granulators/Pelletizers
- Dryers
- Kilns
- Others
By End Use
- Open Cast Mining
- Coal
- Ferrous
- Non Ferrous
- Underground Mining
- Coal
- Ferrous
- Non Ferrous
- Power
- Fertilizer
- Oil & Gas and Refinery
- Coal Gasification
- Port & Ship Building
- Cement
- Construction
- Other Heavy Industry
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
By End Use
- Open Cast Mining
- Coal
- Ferrous
- Non Ferrous
- Underground Mining
- Coal
- Ferrous
- Non Ferrous
- Power
- Fertilizer
- Oil & Gas and Refinery
- Coal Gasification
- Port & Ship Building
- Cement
- Construction
- Other Heavy Industry
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