Cryptocurrency Mining Hardware Market to observe USD 2.82 Bn growth | 56% growth to emerge from APAC | Technavio


NEW YORK, May 26, 2022 /PRNewswire/ — The global cryptocurrency mining hardware market size is expected to increase by USD 2.82 billion between 2020 and 2025. The market observed 4.07% YOY growth in 2021 and the growth momentum is expected to accelerate at a CAGR of 7.85% during the forecast period. APAC will register the maximum growth in terms of revenue generation. The rising investments by vendors for cryptocurrency mining facilities in countries such as China will be crucial in driving the growth of the regional market.

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The global cryptocurrency mining hardware market is fragmented. The market includes a few international players and a considerable number of small-scale participants regionally. Key vendors are focusing on increasing their hash rates and trying to improve the efficiency of mining hardware. Vendors are also significantly investing in joint ventures and acquisitions to expand their presence in new regions.

The rising popularity of mining pools has been instrumental in driving the growth of the market. However, the declining cost of mining hardware might hamper the growth of market participants. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Advanced Micro Devices Inc., ASICminer Co., Baikal Miner, Bitfury Group Ltd., BitMain Technologies Holding Co., Canaan Inc., Cynosure Technologies Co. Ltd., Halong Mining, INNOSILICON Technology Ltd., and Shenzhen MicroBT Electronics Technology Co. Ltd. are identified as some of the major market participants.

View Our Sample Report for more details on the vendor landscape.

Cryptocurrency Mining Hardware Market 2021-2025: Segmentation

The global cryptocurrency mining hardware market is segmented as below:

  • Product
    • ASIC
    • GPU

The ASIC segment will account for the largest share of the market. The segment is driven by increased product launches by market players.

  • Geography
    • APAC
    • North America
    • Europe
    • South America
    • MEA

About 56% of the overall market growth will originate from APAC during the forecast period. The increased acceptance of cryptocurrencies is increasing the demand for cryptocurrency mining hardware in the region. China is the key market for cryptocurrency mining hardware in APAC. Market growth in this region will be faster than the growth of the market in regions.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The cryptocurrency mining hardware market report covers the following areas:

Cryptocurrency Mining Hardware Market 2021-2025: Key Highlights

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will assist cryptocurrency mining hardware market growth during the next five years
  • Estimation of the cryptocurrency mining hardware market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the cryptocurrency mining hardware market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of cryptocurrency mining hardware market vendors

Related Reports:

Cryptocurrency Mining Hardware Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 7.85%

Market growth 2021-2025

USD 2.82 billion

Market structure

Fragmented

YoY growth (%)

4.07

Regional analysis

APAC, North America, Europe, South America, and MEA

Performing market contribution

APAC at 56%

Key consumer countries

China, US, Russian Federation, Canada, and Switzerland

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Advanced Micro Devices Inc., ASICminer Co., Baikal Miner, Bitfury Group Ltd., BitMain Technologies Holding Co., Canaan Inc., Cynosure Technologies Co. Ltd., Halong Mining, INNOSILICON Technology Ltd., and Shenzhen MicroBT Electronics Technology Co. Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents:

1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 03: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 04: Market segments
  • 3.3 Market size 2020
  • 3.4 Market outlook: Forecast for 2020 – 2025
    • Exhibit 05: Global – Market size and forecast 2020 – 2025 ($ million)
    • Exhibit 06: Global market: Year-over-year growth 2020 – 2025 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 07: Five forces analysis 2020 & 2025
  • 4.2 Bargaining power of buyers
    • Exhibit 08: Bargaining power of buyers
  • 4.3 Bargaining power of suppliers
    • Exhibit 09: Bargaining power of suppliers
  • 4.4 Threat of new entrants
    • Exhibit 10: Threat of new entrants
  • 4.5 Threat of substitutes
    • Exhibit 11: Threat of substitutes
  • 4.6 Threat of rivalry
    • Exhibit 12: Threat of rivalry
  • 4.7 Market condition
    • Exhibit 13: Market condition – Five forces 2020

5 Market Segmentation by Product

  • 5.1 Market segments
    • Exhibit 14: Product – Market share 2020-2025 (%)
  • 5.2 Comparison by Product
    • Exhibit 15: Comparison by Product
  • 5.3 ASIC – Market size and forecast 2020-2025
    • Exhibit 16: ASIC – Market size and forecast 2020-2025 ($ million)
    • Exhibit 17: ASIC – Year-over-year growth 2020-2025 (%)
    • Exhibit 18: ASIC mining hardware comparison
  • 5.4 GPU – Market size and forecast 2020-2025
    • Exhibit 19: GPU – Market size and forecast 2020-2025 ($ million)
    • Exhibit 20: GPU – Year-over-year growth 2020-2025 (%)
    • Exhibit 21: GPU mining hardware comparison
  • 5.5 Market opportunity by Product
    • Exhibit 22: Market opportunity by Product

6 Customer landscape

7 Geographic Landscape

  • 7.1 Geographic segmentation
    • Exhibit 24: Market share by geography 2020-2025 (%)
  • 7.2 Geographic comparison
    • Exhibit 25: Geographic comparison
  • 7.3 APAC – Market size and forecast 2020-2025
    • Exhibit 26: APAC – Market size and forecast 2020-2025 ($ million)
    • Exhibit 27: APAC – Year-over-year growth 2020-2025 (%)
  • 7.4 North America – Market size and forecast 2020-2025
    • Exhibit 28: North America – Market size and forecast 2020-2025 ($ million)
    • Exhibit 29: North America – Year-over-year growth 2020-2025 (%)
  • 7.5 Europe – Market size and forecast 2020-2025
    • Exhibit 30: Europe – Market size and forecast 2020-2025 ($ million)
    • Exhibit 31: Europe – Year-over-year growth 2020-2025 (%)
  • 7.6 South America – Market size and forecast 2020-2025
    • Exhibit 32: South America – Market size and forecast 2020-2025 ($ million)
    • Exhibit 33: South America – Year-over-year growth 2020-2025 (%)
  • 7.7 MEA – Market size and forecast 2020-2025
    • Exhibit 34: MEA – Market size and forecast 2020-2025 ($ million)
    • Exhibit 35: MEA – Year-over-year growth 2020-2025 (%)
  • 7.8 Key leading countries
    • Exhibit 36: Key leading countries
  • 7.9 Market opportunity by geography
    • Exhibit 37: Market opportunity by geography

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers
  • 8.2 Market challenges
    • Exhibit 38: Impact of drivers and challenges
  • 8.3 Market trends

9 Vendor Landscape

  • 9.1 Overview
  • 9.2 Vendor landscape
    • Exhibit 39: Vendor landscape
  • 9.3 Landscape disruption
    • Exhibit 40: Landscape disruption
    • Exhibit 41: Industry risks

10 Vendor Analysis

  • 10.1 Vendors covered
    • Exhibit 42: Vendors covered
  • 10.2 Market positioning of vendors
    • Exhibit 43: Market positioning of vendors
  • 10.3 Advanced Micro Devices Inc.
  • 10.4 ASICminer Co.
    • Exhibit 49: ASICminer Co. – Overview
    • Exhibit 50: ASICminer Co. – Product and service
    • Exhibit 51: ASICminer Co. – Key offerings
  • 10.5 Baikal Miner
    • Exhibit 52: Baikal Miner – Overview
    • Exhibit 53: Baikal Miner – Product and service
    • Exhibit 54: Baikal Miner – Key offerings
  • 10.6 Bitfury Group Ltd.
    • Exhibit 55: Bitfury Group Ltd. – Overview
    • Exhibit 56: Bitfury Group Ltd. – Product and service
    • Exhibit 57: Bitfury Group Ltd. – Key offerings
  • 10.7 BitMain Technologies Holding Co.
    • Exhibit 58: BitMain Technologies Holding Co. – Overview
    • Exhibit 59: BitMain Technologies Holding Co. – Product and service
    • Exhibit 60: BitMain Technologies Holding Co. – Key news
    • Exhibit 61: BitMain Technologies Holding Co. – Key offerings
  • 10.8 Canaan Inc.
    • Exhibit 62: Canaan Inc. – Overview
    • Exhibit 63: Canaan Inc. – Business segments
    • Exhibit 64: Canaan Inc. – Key news
    • Exhibit 65: Canaan Inc. – Key offerings
    • Exhibit 66: Canaan Inc. – Segment focus
  • 10.9 Cynosure Technologies Co. Ltd.
    • Exhibit 67: Cynosure Technologies Co. Ltd. – Overview
    • Exhibit 68: Cynosure Technologies Co. Ltd. – Product and service
    • Exhibit 69: Cynosure Technologies Co. Ltd. – Key offerings
  • 10.10 Halong Mining
    • Exhibit 70: Halong Mining – Overview
    • Exhibit 71: Halong Mining – Product and service
    • Exhibit 72: Halong Mining – Key offerings
  • 10.11 INNOSILICON Technology Ltd.
    • Exhibit 73: INNOSILICON Technology Ltd. – Overview
    • Exhibit 74: INNOSILICON Technology Ltd. – Product and service
    • Exhibit 75: INNOSILICON Technology Ltd. – Key offerings
  • 10.12 Shenzhen MicroBT Electronics Technology Co. Ltd.
    • Exhibit 76: Shenzhen MicroBT Electronics Technology Co. Ltd. – Overview
    • Exhibit 77: Shenzhen MicroBT Electronics Technology Co. Ltd. – Product and service
    • Exhibit 78: Shenzhen MicroBT Electronics Technology Co. Ltd. – Key offerings

11 Appendix

  • 11.1 Scope of the report
  • 11.2 Currency conversion rates for US$
    • Exhibit 79: Currency conversion rates for US$
  • 11.3 Research methodology
    • Exhibit 80: Research Methodology
    • Exhibit 81: Validation techniques employed for market sizing
    • Exhibit 82: Information sources
  • 11.4 List of abbreviations
    • Exhibit 83: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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