Mining & Construction Equipment Sector to Reach $45 Billion by 2030: Report

India's mining and construction equipment (MCE) sector is poised to reach $45 billion in value by 2030, growing at a CAGR of 19%, according to the CII-Kearney report. Currently valued at $16 billion, this surge will position India as a global manufacturing hub in the MCE sector.

The report, jointly prepared by the Confederation of Indian Industry (CII) and Kearney, highlights a bold Vision 2030 to make India a global leader in mining and construction equipment. It underscores the sector’s vital role as an enabler of infrastructure, energy, and industrial growth.

The global mining and construction sector commands an $18 trillion market, contributing 16% to global GDP. In India, this sector is pivotal, accounting for 22% of the GDP, second only to China, and establishing India as the fastest-growing MCE market among the top six global economies.