Mining - Market Research Report (2013-2028)
Melbourne, Australia
Last Updated: November 2023
ANZSIC BRevenue
$397.5bn
Past 5-Year Growth
Profit
$XXX.Xbn
Employees
210k
Businesses
7,567
Wages
$XX.Xbn
Mining industry analysis
Australia has a large supply of mineral, hydrocarbon and non-mineral reserves, which the Mining division extracts, processes and sells. These reserves are often high quality and close to the Earth’s surface, enabling Australia’s Mining division to be globally price competitive. The division is export oriented, with exports accounting for around 75% of division revenue. Rising global energy prices have increased the value of coal and liquefied natural gas (LNG) exports, pushing division revenue higher. Division revenue is expected to rise an annualised 2.0% over the five years through 2023-24, to $397.5 billion. However, this includes a projected fall of 18.6% in 2023-24 as the value of coal, LNG and lithium exports ease on the back of softening prices.
Trends and Insights
- Global energy market supply disruptions have pushed the value of coal and LNG exports higher, although prices are set to ease in 2023-24. The Russia-Ukraine conflict has increased competition for energy commodities as buyers look for different supply sources.
- High global energy prices have seen the value of coal and LNG exports rise. The Russia-Ukraine conflict has disrupted global energy markets as some buyers look to diversify away from Russian energy commodities.
- Most mining activity is in Western Australia. Most of Australia’s iron ore, nickel and lithium is produced in Western Australia and the state accounts for over half of domestic natural gas production and 70% of Australia’s gold production.
- Miners compete based on resource quality and production costs. Higher grades and conveniently located deposits help maximise the value of projects. Higher quality ores may attract price premiums or require less processing.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has grown at a CAGR of 2.0 % over the past five years, to reach an estimated $397.5bn in 2023.
Trends and Insights
Revenue and profit margins have expanded on the back of rising energy commodity prices
- Australia is a key supplier of thermal coal and LNG to Asian markets, accounting for around one-fifth of global exports.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to decline over the next five years.
Trends and Insights
Global energy markets are set to stabilise as participants adjust to the new normal
- Division revenue is set to fall as coal and LNG prices in global markets fall from recent highs.
Biggest companies in the Mining
| Company | Market Share (%)
2024 | Revenue ($m)
2024 |
|---|---|---|
BHP | 57,200.0 | |
Rio Tinto | 40,400.0 | |
Glencore | 26,800.0 |
To view the market share and analysis for all 12 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Coal, Oil and gas and Other metal ores. Coal is the largest segment of the Mining.
Trends and Insights
Global supply disruptions due to the Russia-Ukraine conflict have pushed oil and gas prices higher
- This segment includes crude oil, natural gas and liquefied petroleum gas (LPG).
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Wind and Other Electricity Generation in Australia
- Solar Electricity Generation in Australia
- Forestry and Logging in Australia
Complementors
- Petroleum Refining and Petroleum Fuel Manufacturing in Australia
- Iron Smelting and Steel Manufacturing in Australia
- Copper, Silver, Lead and Zinc Smelting and Refining in Australia
- Gold and Other Non-Ferrous Metal Processing in Australia
International industries
- Global Oil & Gas Exploration & Production
- Mining in the US
- Gold & Silver Ore Mining in Canada
- Iron Ore Mining in New Zealand
- Crude Petroleum & Natural Gas Extraction in Germany
Table of Contents
About this industry
Industry definition
The Mining division includes all operations that mainly extract or explore for minerals or hydrocarbons (oil and gas) and provide a variety of services to firms engaged in these activities.
What's included in this industry?
CoalOil and gasIron oreGold, copper, bauxite, nickel, zinc, silver, manganese, tin and leadNon-metallic mineral mining and quarryingMineral and petroleum explorationMining support servicesCompanies
BHPRio TintoGlencorePurchase this report to view all 12 major companies in this industry.
Related Terms
COKING COALSTEAMING COALNATURAL GASBORD-AND-PILLAR MININGIndustry Code
ANZSIC B - Mining
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Global energy market supply disruptions have pushed the value of coal and LNG exports higher, although prices are set to ease in 2023-24. The Russia-Ukraine conflict has incr...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
High global energy prices have seen the value of coal and LNG exports rise. The Russia-Ukraine conflict has disrupted global energy markets as some buyers look to diversify a...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2023
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Most mining activity is in Western Australia. Most of Australia’s iron ore, nickel and lithium is produced in Western Australia and the state accounts for over half of domest...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each region in 2023
- Number and share of revenue each region accounts for in 2023
- Number and share of wages each region accounts for in 2023
- Number and share of employees in each region in 2023
Detailed analysis
- Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Miners compete based on resource quality and production costs. Higher grades and conveniently located deposits help maximise the value of projects. Higher quality ores may at...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Mining companies have been rationalising their portfolios. Miners have been divesting assets, positioning themselves for a low-emission future, where access to capital is inc...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of BHP's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Rio Tinto's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Glencore's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of revenue, market share and profit margin trend for 9 additional companies
Detailed analysis
- Description and key data for BHP, and factors influencing its performance in the industry
- Description and key data for Rio Tinto, and factors influencing its performance in the industry
- Description and key data for Glencore, and factors influencing its performance in the industry
- Description, key data and performance trends for 9 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
A weakening Australian dollar has provided a boost for commodity exporters. Many mining commodities are priced in US dollars and favourable currency movements can increase re...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Rising commodity prices have pushed division margins higher, as profit margins for iron ore, coal and LNG exporters have improved. Higher energy prices have also increased pr...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Australia include:
- Australian Bureau of Statistics
- Australian Taxation Office
- Australian Securities & Investments Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Mining industry in Australia in 2024?
The market size of the Mining industry in Australia is $397.5bn in 2024.
How many businesses are there in the Mining industry in 2023?
There are 7,567 businesses in the Mining industry in Australia, which has grown at a CAGR of 1.6 % between 2018 and 2023.
Has the Mining industry in Australia grown or declined over the past 5 years?
The market size of the Mining industry in Australia has been growing at a CAGR of 2.0 % between 2018 and 2023.
What is the forecast growth of the Mining industry in Australia over the next 5 years?
Over the next five years, the Mining industry in Australia is expected to decline.
What are the biggest companies in the Mining market in Australia?
The biggest companies operating in the Mining market in Australia are BHP, Rio Tinto and Glencore
What does the Mining in Australia include?
Coal and Oil and gas are part of the Mining industry.
Which companies have the highest market share in the Mining in Australia?
The company holding the most market share in Australia is BHP.
How competitive is the Mining industry in Australia?
The level of competition is high and steady in the Mining industry in Australia.
