Cryptocurrency Mining Equipment Market Growth, Size And Trends Report 2033 (2024)

FAQs

What is the outlook for mining equipment? ›

U.S. Mining Equipment Market Size & Trends

The U.S. mining equipment market size was valued at USD 17.15 billion in 2023 and is projected to grow at a CAGR of 3.8% from 2024 to 2030.

global ASIC bitcoin mining hardware market size was USD 8858.9 million in 2022 and market is projected to touch USD 20779.72 million by 2032 at CAGR 8.90% during the forecast period.

The surface mining equipment type segment led the market and accounted for a 38.9% share of the global revenue in 2022.

Production in Mining market is projected to amount to 15,800.00bn kg in 2024. An annual growth rate of 2.04% is expected (CAGR 2024-2029).

The United States of America-based Caterpillar Inc is the leading equipment manufacturer in the world by revenue. The company reported revenues of $50,971 million for the fiscal year ended December 2021 (FY2021), an increase of 22.1% over FY2020, due to lower provision for credit losses at Cat Financial.

Sustainable Mining

With increasing concerns about the environmental impact of crypto mining, there's a growing emphasis on adopting sustainable practices. In 2024, we can expect to see a rise in green mining initiatives. These include the use of renewable energy sources and energy-efficient mining hardware.

As of 2024, Marathon Digital Holdings (NASDAQ: MARA) is the largest publicly traded Bitcoin miner on Wall Street, with a market capitalization of approximately $6 billion.

The global cryptocurrency mining market size was exhibited at USD 1.92 billion in 2022 and is expected to attain around USD 7 billion by 2032, poised to grow at a CAGR of 12.90% from 2023 to 2032.

Is crypto mining still profitable? Yes. Crypto mining can be profitable - but there are factors miners need to consider including electricity costs, mining difficulty, and market conditions.

What is the biggest and baddest mining equipment? ›

The world's largest mining machine is the Bagger 293 bucket wheel excavator. This piece of machinery, which looks straight out of a Transformers movie, is seriously frightening. Thank god it doesn't have legs! At 3 4.9 feet tall, 738.2 feet long and weighing roughly 31.3 million pounds, the 293 is beyond massive.

Summary. In 2024, miners will face growing pressure to do more to address climate change, tackle a growing list of ESG issues and build a healthier, more attractive workforce culture.

Artificial intelligence will be commonplace in mining operations, as miners use it to interpret data from smart sensors and machine interconnection, and to improve operational safety and efficiency through unmanned, AI-enabled technologies. This will transform mining into one of the safest occupations of its kind.

Job Outlook

Employment of mining and geological engineers is projected to grow 2 percent from 2023 to 2033, slower than the average for all occupations. Despite limited employment growth, about 400 openings for mining and geological engineers are projected each year, on average, over the decade.

KEY MARKET INSIGHTS

The global process mining software market size was valued at USD 1.66 billion in 2023. The market is projected to grow from USD 2.46 billion in 2024 to USD 46.39 billion by 2032, exhibiting a CAGR of 44.3% during the forecast period.

The U.S. agriculture equipment market was valued at 767.88 thousand units by 2023 and is expected to reach 950.26 thousand units by 2029. What is the growth rate of the U.S. agriculture equipment market? The U.S. agriculture equipment market share is expected to grow at a CAGR of 3.62% from 2023-2029.