Overview
Table: Total Market Size for Mining Equipment: 2020-2025, Unit: USD Millions
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 (est.) |
Total Exports (to the world) | 540.80 | 808.92 | 1,130.01 | 1,065.41 | 1,150.37 | 1,345.50 |
Total Imports (from the world) | 2,871.54 | 3,804.48 | 6,410.15 | 5,961.13 | 5,686.89 | 4,947.59 |
Export to the U.S. | 26.40 | 66.39 | 123.68 | 158.42 | 121.08 | 99.28 |
Imports from the U.S. | 137.73 | 153.31 | 233.67 | 282.04 | 218.79 | 175.40 |
Trade Surplus/Deficit | (111.33) | (86.92) | (109.99) | (123.62) | (97.71) | (76.12) |
Exchange Rate | 14,582 | 14,308 | 14,850 | 15,237 | N.A. | N.A. |
Sources: Global Trade Atlas (GTA) on Connect Trade Data. Average exchange rate of Indonesian Rupiahs to U.S. dollars from the World Bank.
Indonesia’s Mining Sector
Indonesia continues to be a significant player in the global mining industry, with substantial production in coal, copper, gold, tin, bauxite, nickel and cobalt. The country holds the world’s largest nickel reserves and ranks among the top producers of coal and tin. To capitalize on its mineral wealth and accelerate economic development, the Indonesian government has implemented policies to encourage domestic processing of raw materials, particularly critical minerals like nickel and cobalt, used in products such as electric vehicle (EV) batteries and electronics production. This has attracted significant global investment aimed at enhancing the downstream mineral extraction industry.
The mining equipment market in Indonesia is experiencing robust growth. In 2025, the market is estimated to be worth $2.5 billion, with a compound annual growth rate (CAGR) of 8.1% projected through 2031. This growth is driven by increased demand for mineral resources and supportive government policies.
Specifically, the underground mining equipment segment is projected to grow at a CAGR of 9.1% from 2025 to 2030, reaching $397.5 million by 2030.
Leading Sub-sectors
U.S. goods and services are highly sought after in the Indonesian mining industry, particularly in the following areas:
- Furnaces
- Drill Rigs
- Ground Penetrating Radar (GPR)
- Mining Refining Technologies and Processing Equipment
- GIS Sensing and Mapping
- Communications Systems
- Materials Extraction and Handling Technology
- Heavy equipment
- Lubricants
Opportunities
The Indonesian government’s emphasis on downstream processing and energy efficiency presents several commercial opportunities. Prospects include the development of critical mineral processing facilities to produce high-grade battery materials and the establishment of battery or energy storage solutions to support EV production and the decarbonization of the economy. Additionally, the need for battery storage technologies to address the intermittency challenges of renewable energy sources in remote areas offers further opportunities for investment and collaboration.
Resources
- Ministry of Energy and Mineral Resources https://www.esdm.go.id/en
- Directorate General of Mineral and Coal Mining, Ministry of Energy and Mineral Resources https://www.minerba.esdm.go.id/
- State-owned mining holding company - MIND ID https//www.mind.id
- State-owned battery company – New Energy Materials Investment Holding https://www.indonesiabatterycorp.com
- ASPINDO (Indonesia Mining Service Association)
- APBI – ICMA (Indonesia Coal Mining Association)
For more information, please contact Commercial Specialist Helda Sitorus at Helda.Sitorus@trade.gov