Mining, Oil & Gas Machinery Manufacturing in the US - Industry Market Research Report

Mining, Oil & Gas Machinery Manufacturing in the US - Industry Market Research Report

Mining, Oil & Gas Machinery Manufacturing in the US

Mining, oil and gas production levels impact mining, oil and gas machinery manufacturers. New capital equipment purchases tend to occur when Mining sector constituents ramp up production during, or in anticipation of, a favorably priced commodity market. Nonetheless, industry revenue and profit are also highly susceptible to quick shifts in demand induced by sliding commodity prices. Despite surging commodity prices, industry-wide revenue has fallen at a CAGR of 6.4% over the past five years, including 3.7% in 2023, when revenue is estimated to total $17.8 billion. Spiking steel and fuel costs compounded lower demand and led profit to account for an estimated 4.6% of revenue in 2023.

Companies in the Mining, Oil and Gas Machinery Manufacturing industry manufacture oil and gas field equipment and underground mining machinery. Products include rotary and portable drilling rigs and parts; crushing, pulverizing, screening and mineral processing machinery; and derricks, substructures and related accessories. Parts are included, but support services are excluded.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.