PUBLISHER: QYResearch | PRODUCT CODE: 1258034
PUBLISHER: QYResearch | PRODUCT CODE: 1258034
Global key ASIC Bitcoin Mining Hardware players include BitMain, Canaan, MicroBT, Ebang, AGMH, Bee Computing and Innosilicon etc. The top 3 companies hold a share (by sales revenue) about 97.95%. China is the largest market with a share about 47.75%, followed by North America, APeC and Europe. In terms of product, BTC product is the largest segment with a share about 95.53%. And in terms of applications, the largest application is Mining Farm with a share about 67.76%.
The global ASIC Bitcoin Mining Hardware market was valued at US$ 8,609.68 million in 2022 and is expected to reach US$ 24,063.91 million by the end of 2029, growing at a CAGR of 9.3% between 2023 and 2029.
In the industry, the key players in the global ASIC Bitcoin Mining Hardware market are like BitMain, Canaan, MicroBT, Ebang, AGMH, Bee Computing and Innosilicon etc. BitMain shipments most in 2022 and recent years, while MicroBT and Canaan ranked 2 and 3.The gap of market share is keep on enlarged due to different strategy. The market concentration ratio in the past three years. The top five manufacturers held 99.63% of the market, in terms of ASIC Bitcoin Mining Hardware revenue in 2022.
China has the largest global export quantity and manufacturers in ASIC Bitcoin Mining Hardware market, global leading companies all have production bases in China.
The demand for ASIC Bitcoin mining hardware depends on various factors such as the current Bitcoin price, mining difficulty, and availability of newer and more efficient ASIC miners.
When Bitcoin prices rise, there is usually an increase in demand for mining hardware as miners seek to increase their profits. Additionally, when the mining difficulty increases, miners may need to upgrade their hardware to remain competitive and continue to generate profits.
In recent years, there has been significant demand for ASIC Bitcoin mining hardware due to the increasing popularity of Bitcoin mining as an investment opportunity. As a result, some of the leading ASIC manufacturers such as Bitmain, Canaan Creative, and MicroBT have reported high demand for their products.
However, the demand for ASIC Bitcoin mining hardware can also fluctuate rapidly due to changes in the regulatory landscape, energy costs, and the overall market sentiment towards cryptocurrencies. Therefore, it is important for miners to carefully assess the market conditions and perform due diligence before investing in mining hardware.
On the basis of algorithms type, the ASIC Bitcoin Mining Hardware market has been segmented into BTC, LTC, ETH and Other. BTC is the largest type, accounts for about 82.03% of the total sales volume in 2022, with a sales volume of 2,216.91 Kilo Units. The LTC, ETH and Other segment of ASIC Bitcoin Mining Hardware is projected to register the highest CAGR during the forecast period.
Mining Farm is estimated to be the largest application of ASIC Bitcoin Mining Hardware. Mining Pool Service Providers are expected to show the fastest growth rates in the ASIC Bitcoin Mining Hardware market in the coming years.
The market growth rate (by volume) is expected to exceed 30.4% in 2023. This assumption is based on the fact that the price of Bitcoin and cryptocurrencies will continue to rise in the long run.
On the basis of region, the ASIC Bitcoin Mining Hardware market has been segmented into North America, Europe, China, APeC (Asia Pacific excluding China), Middle East, Africa and Latin America. APeC and North America is projected to be the largest market during the forecast period. The demand for ASIC Bitcoin Mining Hardware is high in advanced economies such as Europe and United States. High growth and innovation, along with industry consolidations, are expected to drive the market in the region.
In terms of sales (consumption) side, this report focuses on the sales of ASIC Bitcoin Mining Hardware by regions (Countries), company, by Type and by Application. from 2018 to 2023 and forecast to 2029.
The global ASIC Bitcoin Mining Hardware market is thoroughly, accurately, and comprehensively assessed in the report with a large focus on market dynamics, market competition, regional growth, segmental analysis, and key growth strategies. Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global ASIC Bitcoin Mining Hardware market. These figures have been provided in terms of both revenue and volume for the period 2018-2029. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.