Sinolink Securities believes that the global mining machinery market has vast space and huge development potential.
First of all, rising metal prices will drive the accelerated growth of capital expenditures, and industry prosperity is expected to further improve. Domestic mining machinery companies are expected to achieve accelerated growth under opportunities such as overseas expansion, aftermarket, and unmanned/electrification.
The global market of mining machinery is worth hundreds of billions of dollars, mainly including mining and mineral processing.
According to precedenceresearch data, the global mining machinery market has reached US$133.09 billion and is expected to reach US$229.2 billion by 2035, with a compound annual growth rate (CAGR) of 5.59%.
This data fully demonstrates the size and continued growth of this market.
At present, the prices of key metals such as copper and gold are high, and global mining capital expenditure is expected to accelerate.
Key metals still have large supply gaps in the long term. For example, the supply gaps for lithium, copper, rare earths, and silver from 2024 to 2030 are 49%, 34%, 31%, and 30% respectively. Under such circumstances, increased investment in the mining industry has become a general trend.
From the perspective of market participants, the mining machinery industry has high entry barriers. Currently, global market participants are dominated by overseas leaders such as Sandvik, Epiroc, Metso, and Weir Group.
However, with the development of the industry and the continuous progress of domestic enterprises, domestic mining machinery enterprises are also actively looking for breakthrough opportunities.
Oriental Securities also expressed similar views.
Against the background of geopolitical conflicts, the price center of non-ferrous metals is expected to remain high. Global mining giants continue to increase mergers and acquisitions to expand reserves, and mining companies are expected to be more willing to expand production in the future.
This will drive the high prosperity of capital expenditures of mining companies to last longer, thereby promoting the high prosperity of the mining machinery industry.
The mining machinery boom in a broad sense has three stages, including bulk raw material development, energy mining, and construction and utilization. It is currently in the first stage. Related equipment companies are expected to benefit from the rising boom in the mining machinery industry.
For domestic mining machinery companies, they should seize this favorable opportunity, increase investment in technology research and development, improve product quality and service levels, actively explore overseas markets, and occupy a place in the global mining machinery market.
At the same time, with the development of unmanned, electrified and other technologies, enterprises should also follow the trend and accelerate transformation and upgrading to adapt to market changes and needs.
