Market Size of Russia Mining Equipment Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Russia Mining Equipment Market Analysis
The Russia Mining Equipment Market is projected to grow with a CAGR of more than 6 % during the forecast period.
- With the abundance of mineral availability in Russia, it is one of the richest countries in terms of mineral resources. Almost all-important mineral resources are mined in the country, from base and precious metals, coal, iron ore, bauxite and diamonds.
- The country plays a leading role in the mining of platinum metals and diamonds. Russia is the leader in the production of rough diamonds, for coal, the country has 15 % of the world's reserves and is at 2nd place in the world. Russia is 2ndlargest producer of Platinum and 3rd largest producer of iron ore, gold and lead. The country also is rich in nickel, copper, cobalt and other rare minerals.
- However, the country imports more than 50% of the mining equipment required for the extraction of these metals and minerals. Hence, the market for mining equipment in Russia is very promising and there are several opportunities for the local players.
