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.

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Cryptocurrency Mining Hardware Market 2021-2025: Segmentation

The global cryptocurrency mining hardware market is segmented as below:

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

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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

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

3.4 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

8.2 Market challenges

Exhibit 38: Impact of drivers and challenges

9 Vendor Landscape

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

11.2 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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