The Mining and Quarrying Gross Value Added (GVA) in the US is forecasted to rise steadily from 2024 to 2028, reaching $309.88 billion in 2024 and climbing to $339.92 billion by 2028. This upward trend indicates a stable annual growth. Over the analyzed period, we have seen consistent year-on-year increases. The year-on-year growth rates are as follows:
- 2025: 2.49%
- 2026: 2.38%
- 2027: 2.29%
- 2028: 2.20%
Given that actual data for 2023 showed the Mining and Quarrying GVA at $302.36 billion, the forecasted Compound Annual Growth Rate (CAGR) for the period from 2023 to 2028 stands at approximately 2.37%. This reflects a period of moderate, sustained growth in the sector.
Future trends to watch for include technological advancements in extraction techniques, evolving environmental regulations, and shifts in global commodity prices. These factors could significantly impact the GVA in mining and quarrying over the coming years.
