Mining Equipment Market Size, Trends and Insights By Equipment Type (Surface Mining Equipment, Underground Mining Equipment, Mineral Processing Equipment, Others), By Application (Metal Mining, Mineral Mining, Coal Mining), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- Epiroc AB
- AB Volvo
- Atlas Copco
- Hitachi Ltd
- Metso Corporation
- Boart Long Year Ltd
- Others
Reports Description
Global Mining Equipment Market was valued at USD 132.5 Billion in 2022 and is expected to reach USD 200.9 Billion by 2032, at a CAGR of 4.1% during the forecast period 2023 – 2032
Mining equipment encompasses specialized machinery and tools utilized in the extraction, transportation, and processing of minerals, metals, and geological materials from the Earth’s surface. It includes excavators, drills, loaders, crushers, and other equipment crucial for mining operations.
The surge in global demand for natural resources, driven by increasing industrialization and urbanization, is expanding the global mining industry and subsequently boosting prospects in the mining equipment market. Market players are ramping up production capabilities to meet the heightened demand for various equipment categories like crushers, mining drills, screening tools, and mineral processing equipment.
The emphasis on vehicle electrification by automobile manufacturers is further propelling mining equipment demand. However, a significant challenge to market growth is the elevated cost of mining equipment due to technological advancements, higher fuel prices, and modern machinery components.
Market Drivers
Escalating demand for minerals and metals
An increase in several infrastructure development initiatives worldwide, especially in emerging economies such as China, India, South Africa and Brazil are driving the demand for minerals such as iron ore, limestone, and copper.
Moreover, the rise in urbanization and industrialization further generates a heightened need for metals like copper, lithium, and nickel, crucial for applications in electronics, electric vehicles, and renewable energy technologies, which in turn boosts the demand for mining equipment.
The rising demand for essential metals and minerals is pronounced as the transition towards clean energy. A report from the International Energy Agency (IEA) suggests that to achieve global net-zero goals, there will be a sixfold increase in the demand for minerals and metals by 2040.
Thus, above mentioned factors are expected to drive the market for the global mining equipment market during the forecast period.
Technological advancements and automation
Advancements in technology such as the incorporation of cutting-edge automation a pivotal drivers for the global mining equipment market. Furthermore, automation, remote monitoring, and data analytics play a vital role in enhancing the effectiveness, safety, and productivity of mining activities.
Modern mining machinery is equipped with sensors, GPS, and connectivity, enabling real-time monitoring and control, it enhances operational efficiency and also contributes to elevating safety standards and cost-effectiveness. One notable technology in this realm is Chirp, a wireless communication technology that complements GPS and LiDAR.
It facilitates data exchange, location determination, and distance measurement, fostering improved communication and coordination among miners, mining equipment, and vehicles. This technological integration allows mine operators to optimize operations and mitigate accident risks.
For instance, In May 2023, Komatsu Ltd. along with Toyota Motor Corporation announced the commencement of a combined project for autonomous light vehicle run on the autonomous haulage system. This development was aimed at ensuring safety and greater productivity in mines.
Additionally, in January 2022, Boart Longyear announced the launch of a new underground drilling rig – LM Deephole. The drill enables a 50% rise in depth of drilling for NQ hole size and can be remotely operated with the help of Drill Control Interface (DCi). The above-mentioned technological advancements are expected to drive the mining equipment market growth.
Market Restraints
High capital investment
The substantial initial costs associated with procuring and deploying advanced mining equipment act as a market barrier. The industry’s capital-intensive nature, combined with the considerable expenses related to maintenance and operations, serves as a significant constraint.
Owing to substantial investments in equipment, infrastructure, and ongoing operations, the mining equipment industry poses challenges, particularly for smaller enterprises. This disparity in financial capacity impedes the ability of small and medium-sized mining companies to compete effectively with their larger companies, thereby influencing the growth dynamics of the mining equipment market.
Stringent rules for approval of mining equipment
Stringent regulatory requirements are a barrier to the global mining equipment market as they are restraining the development and introduction of new products and technologies. Some of the factors contributing to this reluctance are:
- Environmental Concerns: Stringent regulations regarding CO2 emissions and other environmental standards may impact the mining equipment market as companies will need to adapt their products to these requirements. Mining activities have detrimental impacts on air and water quality, generate dust and noise pollution, and disrupt ecosystems.
- Government Legislation: The government implement stricter environmental regulations and policies to control emissions, and manage waste, and mining practices. These regulations can add significant costs to mining operations and limit expansion plans.
- Regulatory Framework: ISO 17757 provides safety requirements for autonomous machines and semi-autonomous machines used in earth-moving and mining operations, and autonomous or semi-autonomous machine systems (ASAMS).
Market Opportunities
Growing demand for electric vehicles
The shift towards electric mobility has led to an increased need for minerals such as copper, aluminium, and rare earth elements in the manufacturing of EV components. Mining equipment is essential for extracting and processing these minerals to meet the rising demand from the automotive industry.
For instance, In July 2023, Komatsu Ltd. announced plans to launch PC210LCE-11 and 200LCE-11 versions of its class electric 20-ton excavators driven by Li-ion batteries in Japan and Europe. The market introduction of these models represented an opportunity for Komatsu to develop a market for electric construction equipment by 2050.
Mining Equipment Market Segmentation Analysis
Global Mining Equipment market is segmented by type, application and region. Based on equipment type, the market is classified into surface mining equipment, underground mining equipment, mineral processing equipment, and others. Surface mining equipment dominated the market in 2022 with a market share of 38% and is expected to keep its dominance during the forecast period.
This growth is driven by the increasing demand for trucks, dozers, excavators, and loaders used in open-pit mines. The primary machinery in the surface mining equipment sector includes mining trucks, hydraulic excavators/shovels, electric rope shovels, wheel loaders, dozers, and motor graders.
By 2023, mining trucks constituted the most substantial share of the surface mining equipment market, succeeded by dozers and hydraulic excavators/shovels.
Based on application, the market is segmented into metal mining, mineral mining, and coal mining. Metal mining held the largest share in 2022 driven by demand for minerals like copper, lithium, and nickel used in electronics and renewable energy technologies.
Mineral mining accounted for 30% of the market share, driven by the extraction of industrial minerals such as limestone, silica sand, and phosphate for applications in construction and agriculture.
Mining Equipment Market Regional Insight
By region, the mining equipment market is segmented into Asia-Pacific, Europe, North America, Middle East & Africa and Latin America. The Asia-Pacific region dominated the global market in 2022 with a market share of 37.5% in 2022 and is expected to keep its dominance during the forecast period.
China is one of the largest consumers and producers of coal and various metals, which has a substantial impact on the mining equipment market. Governments and mining companies are investing in advanced technologies, such as AI and IoT, to optimize resource extraction and reduce environmental impact.
Additionally, there’s a growing emphasis on sustainable mining practices, driven by stringent environmental regulations. The region’s increasing demand for metals and minerals, driven by infrastructure development and urbanization, is fuelling investments in modern mining equipment.
Collaborations with technology providers and a shift towards eco-friendly solutions mark key developments in the evolving landscape of the Asia Pacific mining equipment market.
The Indian mining equipment industry maintained its strong growth momentum in 2022. The industry posted an impressive growth of 26% in 2023 with total volumes crossing the one lakh unit mark. The growth was driven by improvement in the overall macroeconomic environment and a strong revival in construction activities.
North America held the second largest market share in the global mining equipment market in 2022 and is expected to keep its position throughout the forecast period owing to increasing demand for mining equipment from the U.S. and Canada.
The Middle East & Africa region is expected to grow at substantial growth rates during the forecast period, driven by its substantial share of natural resources such as gold, copper, and phosphate. In recent years, the nation has made substantial investments in the mining sector.
This growth trajectory is attributed to rising investments in mining, the integration of advanced technologies, and the escalating demand for minerals and resources. The unique combination of these factors positions Saudi Arabia as a key country in the expanding landscape of the mining equipment market.
Report Scope
| Feature of the Report | Details |
| Market Size in 2023 | USD 132.5 Billion |
| Projected Market Size in 2032 | USD 200.9 Billion |
| Market Size in 2022 | USD 125 Billion |
| CAGR Growth Rate | 4.1% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Equipment Type, Application and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Mining Equipment Market Competitive Landscape
- Epiroc AB
- AB Volvo
- Atlas Copco
- Hitachi Ltd
- Metso Corporation
- Boart Long Year Ltd
- Caterpillar Inc
- China Coal Energy Group Co. Ltd
- Vipeak Mining Machinery Co. Ltd
- Guangdong Leimeng Intelligent Equipment Group Co. Ltd
- Henan Baichy Machinery Equipment Co. Ltd
- Komatsu Ltd
- Liebherr
- Metso Qutotec
- Zoomlion Heavy Industry Science & Technology Co. Ltd.
- MacLean Engineering
- Weir Group PLC
- Sandvik AB
- Terex Corporation
- Doosan Infracore
- Others
These key players are adopting various growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.
Global Mining Equipment Market Segmentation-
By Equipment Type
- Surface Mining Equipment
- Underground Mining Equipment
- Mineral Processing Equipment
- Others
By Application
- Metal Mining
- Mineral Mining
- Coal Mining
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market Research Methodology
- Chapter 2. Executive Summary
- 2.1 Global Mining Equipment Market, (2024 – 2033) (USD Billion)
- 2.2 Global Mining Equipment Market: snapshot
- Chapter 3. Global Mining Equipment Market – Industry Analysis
- 3.1 Mining Equipment Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Escalating demand for minerals and metals
- 3.2.2 Technological advancements and automation
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Equipment Type
- 3.7.2 Market Attractiveness Analysis By Application
- Chapter 4. Global Mining Equipment Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Mining Equipment Market: company market share, 2022
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, collaboration, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Mining Equipment Market – Equipment Type Analysis
- 5.1 Global Mining Equipment Market Overview: By Equipment Type
- 5.1.1 Global Mining Equipment Market Share, By Equipment Type, 2022 and – 2033
- 5.2 Surface Mining Equipment
- 5.2.1 Global Mining Equipment Market by Surface Mining Equipment, 2024 – 2033 (USD Billion)
- 5.3 Underground Mining Equipment
- 5.3.1 Global Mining Equipment Market by Underground Mining Equipment, 2024 – 2033 (USD Billion)
- 5.4 Mineral Processing Equipment
- 5.4.1 Global Mining Equipment Market by Mineral Processing Equipment, 2024 – 2033 (USD Billion)
- 5.5 Others
- 5.5.1 Global Mining Equipment Market by Others, 2024 – 2033 (USD Billion)
- 5.1 Global Mining Equipment Market Overview: By Equipment Type
- Chapter 6. Global Mining Equipment Market – Application Analysis
- 6.1 Global Mining Equipment Market Overview: By Application
- 6.1.1 Global Mining Equipment Market Share, By Application, 2022 and – 2033
- 6.2 Metal Mining
- 6.2.1 Global Mining Equipment Market by Metal Mining, 2024 – 2033 (USD Billion)
- 6.3 Mineral Mining
- 6.3.1 Global Mining Equipment Market by Mineral Mining, 2024 – 2033 (USD Billion)
- 6.4 Coal Mining
- 6.4.1 Global Mining Equipment Market by Coal Mining, 2024 – 2033 (USD Billion)
- 6.1 Global Mining Equipment Market Overview: By Application
- Chapter 7. Mining Equipment Market – Regional Analysis
- 7.1 Global Mining Equipment Market Regional Overview
- 7.2 Global Mining Equipment Market Share, by Region, 2022 & – 2033 (USD Billion)
- 7.3. North America
- 7.3.1 North America Mining Equipment Market, 2024 – 2033 (USD Billion)
- 7.3.1.1 North America Mining Equipment Market, by Country, 2024 – 2033 (USD Billion)
- 7.3.1 North America Mining Equipment Market, 2024 – 2033 (USD Billion)
- 7.4 North America Mining Equipment Market, by Equipment Type, 2024 – 2033
- 7.4.1 North America Mining Equipment Market, by Equipment Type, 2024 – 2033 (USD Billion)
- 7.5 North America Mining Equipment Market, by Application, 2024 – 2033
- 7.5.1 North America Mining Equipment Market, by Application, 2024 – 2033 (USD Billion)
- 7.6. Europe
- 7.6.1 Europe Mining Equipment Market, 2024 – 2033 (USD Billion)
- 7.6.1.1 Europe Mining Equipment Market, by Country, 2024 – 2033 (USD Billion)
- 7.6.1 Europe Mining Equipment Market, 2024 – 2033 (USD Billion)
- 7.7 Europe Mining Equipment Market, by Equipment Type, 2024 – 2033
- 7.7.1 Europe Mining Equipment Market, by Equipment Type, 2024 – 2033 (USD Billion)
- 7.8 Europe Mining Equipment Market, by Application, 2024 – 2033
- 7.8.1 Europe Mining Equipment Market, by Application, 2024 – 2033 (USD Billion)
- 7.9. Asia Pacific
- 7.9.1 Asia Pacific Mining Equipment Market, 2024 – 2033 (USD Billion)
- 7.9.1.1 Asia Pacific Mining Equipment Market, by Country, 2024 – 2033 (USD Billion)
- 7.9.1 Asia Pacific Mining Equipment Market, 2024 – 2033 (USD Billion)
- 7.10 Asia Pacific Mining Equipment Market, by Equipment Type, 2024 – 2033
- 7.10.1 Asia Pacific Mining Equipment Market, by Equipment Type, 2024 – 2033 (USD Billion)
- 7.11 Asia Pacific Mining Equipment Market, by Application, 2024 – 2033
- 7.11.1 Asia Pacific Mining Equipment Market, by Application, 2024 – 2033 (USD Billion)
- 7.12. Latin America
- 7.12.1 Latin America Mining Equipment Market, 2024 – 2033 (USD Billion)
- 7.12.1.1 Latin America Mining Equipment Market, by Country, 2024 – 2033 (USD Billion)
- 7.12.1 Latin America Mining Equipment Market, 2024 – 2033 (USD Billion)
- 7.13 Latin America Mining Equipment Market, by Equipment Type, 2024 – 2033
- 7.13.1 Latin America Mining Equipment Market, by Equipment Type, 2024 – 2033 (USD Billion)
- 7.14 Latin America Mining Equipment Market, by Application, 2024 – 2033
- 7.14.1 Latin America Mining Equipment Market, by Application, 2024 – 2033 (USD Billion)
- 7.15. The Middle East and Africa
- 7.15.1 The Middle-East and Africa Mining Equipment Market, 2024 – 2033 (USD Billion)
- 7.15.1.1 The Middle-East and Africa Mining Equipment Market, by Country, 2024 – 2033 (USD Billion)
- 7.15.1 The Middle-East and Africa Mining Equipment Market, 2024 – 2033 (USD Billion)
- 7.16 The Middle-East and Africa Mining Equipment Market, by Equipment Type, 2024 – 2033
- 7.16.1 The Middle-East and Africa Mining Equipment Market, by Equipment Type, 2024 – 2033 (USD Billion)
- 7.17 The Middle-East and Africa Mining Equipment Market, by Application, 2024 – 2033
- 7.17.1 The Middle-East and Africa Mining Equipment Market, by Application, 2024 – 2033 (USD Billion)
- Chapter 8. Company Profiles
- 8.1 Epiroc AB
- 8.1.1 Overview
- 8.1.2 Financials
- 8.1.3 Product Portfolio
- 8.1.4 Business Strategy
- 8.1.5 Recent Developments
- 8.2 AB Volvo
- 8.2.1 Overview
- 8.2.2 Financials
- 8.2.3 Product Portfolio
- 8.2.4 Business Strategy
- 8.2.5 Recent Developments
- 8.3 Atlas Copco
- 8.3.1 Overview
- 8.3.2 Financials
- 8.3.3 Product Portfolio
- 8.3.4 Business Strategy
- 8.3.5 Recent Developments
- 8.4 Hitachi
- 8.4.1 Overview
- 8.4.2 Financials
- 8.4.3 Product Portfolio
- 8.4.4 Business Strategy
- 8.4.5 Recent Developments
- 8.5 Doosan Infracore
- 8.5.1 Overview
- 8.5.2 Financials
- 8.5.3 Product Portfolio
- 8.5.4 Business Strategy
- 8.5.5 Recent Developments
- 8.6 Metso Corporation
- 8.6.1 Overview
- 8.6.2 Financials
- 8.6.3 Product Portfolio
- 8.6.4 Business Strategy
- 8.6.5 Recent Developments
- 8.7 Boart Long Year Ltd
- 8.7.1 Overview
- 8.7.2 Financials
- 8.7.3 Product Portfolio
- 8.7.4 Business Strategy
- 8.7.5 Recent Developments
- 8.8 Caterpillar Inc
- 8.8.1 Overview
- 8.8.2 Financials
- 8.8.3 Product Portfolio
- 8.8.4 Business Strategy
- 8.8.5 Recent Developments
- 8.9 China Coal Energy Group Co. Ltd
- 8.9.1 Overview
- 8.9.2 Financials
- 8.9.3 Product Portfolio
- 8.9.4 Business Strategy
- 8.9.5 Recent Developments
- 8.10 Vipeak Mining Machinery Co. Ltd
- 8.10.1 Overview
- 8.10.2 Financials
- 8.10.3 Product Portfolio
- 8.10.4 Business Strategy
- 8.10.5 Recent Developments
- 8.11 Guangdong Leimeng Intelligent Equipment Group Co. Ltd
- 8.11.1 Overview
- 8.11.2 Financials
- 8.11.3 Product Portfolio
- 8.11.4 Business Strategy
- 8.11.5 Recent Developments
- 8.12 Henan Baichy Machinery Equipment Co. Ltd
- 8.12.1 Overview
- 8.12.2 Financials
- 8.12.3 Product Portfolio
- 8.12.4 Business Strategy
- 8.12.5 Recent Developments
- 8.13 Komatsu Ltd
- 8.13.1 Overview
- 8.13.2 Financials
- 8.13.3 Product Portfolio
- 8.13.4 Business Strategy
- 8.13.5 Recent Developments
- 8.14 Liebherr
- 8.14.1 Overview
- 8.14.2 Financials
- 8.14.3 Product Portfolio
- 8.14.4 Business Strategy
- 8.14.5 Recent Developments
- 8.15 Metso Qutotec
- 8.15.1 Overview
- 8.15.2 Financials
- 8.15.3 Product Portfolio
- 8.15.4 Business Strategy
- 8.15.5 Recent Developments
- 8.16 Zoomlion Heavy Industry Science & Technology Co. Ltd.
- 8.16.1 Overview
- 8.16.2 Financials
- 8.16.3 Product Portfolio
- 8.16.4 Business Strategy
- 8.16.5 Recent Developments
- 8.17 MacLean Engineering
- 8.17.1 Overview
- 8.17.2 Financials
- 8.17.3 Product Portfolio
- 8.17.4 Business Strategy
- 8.17.5 Recent Developments
- 8.18 Weir Group PLC
- 8.18.1 Overview
- 8.18.2 Financials
- 8.18.3 Product Portfolio
- 8.18.4 Business Strategy
- 8.18.5 Recent Developments
- 8.19 Sandvik AB
- 8.19.1 Overview
- 8.19.2 Financials
- 8.19.3 Product Portfolio
- 8.19.4 Business Strategy
- 8.19.5 Recent Developments
- 8.20 Terex Corporation
- 8.20.1 Overview
- 8.20.2 Financials
- 8.20.3 Product Portfolio
- 8.20.4 Business Strategy
- 8.20.5 Recent Developments
- 8.21 Others
- 8.21.1 Overview
- 8.21.2 Financials
- 8.21.3 Product Portfolio
- 8.21.4 Business Strategy
- 8.21.5 Recent Developments
- 8.1 Epiroc AB
List Of Figures
Figures No 1 to 21
List Of Tables
Tables No 1 to 52
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2032
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Prominent Player
- Epiroc AB
- AB Volvo
- Atlas Copco
- Hitachi Ltd
- Metso Corporation
- Boart Long year Ltd
- Caterpillar Inc
- China Coal Energy Group Co. Ltd
- Vipeak Mining Machinery Co. Ltd
- Guangdong Leimeng Intelligent Equipment Group Co. Ltd
- Henan Baichy Machinery Equipment Co. Ltd
- Komatsu Ltd
- Liebherr
- Metso Qutotec
- Zoomlion Heavy Industry Science & Technology Co. Ltd.
- MacLean Engineering
- Weir Group PLC
- Sandvik AB
- Terex Corporation
- Doosan Infracore
- Others
FAQs
The increasing environmental concerns and stringent regulations pose challenges for the mining equipment market.
The technological innovations in mining equipment, including automation, remote monitoring are creating significant demand for construction materials, driving the need for mining equipment.
The “Surface Mining Equipment” category dominated the market in 2022.
The key players in the market are Epiroc AB, AB Volvo, Atlas Copco , Hitachi, Ltd, Metso Corporation, Boart Long year Ltd, Caterpillar Inc, China Coal Energy Group Co. Ltd, Vipeak Mining Machinery Co. Ltd, Guangdong Leimeng Intelligent Equipment Group Co. Ltd, Henan Baichy Machinery Equipment Co. Ltd, Komatsu Ltd, Liebherr, Metso Qutotec, Zoomlion Heavy Industry Science & Technology Co. Ltd., MacLean Engineering, Weir Group PLC, Sandvik AB , Terex Corporation, Doosan Infracore, Others.
“Asia Pacific” had the largest share in the Mining Equipment Market.
The global market is projected to grow at a CAGR of 4.1% during the forecast period, 2023-2032.
The Mining Equipment Market size was valued at USD 132.5 Billion in 2023.