Mining Equipment Market: By Mining Type, By Equipment Category, By Industry and By Geography
Mining Equipment Market: By Mining Type, By Equipment Category, By Industry and By Geography
Mining Equipment Market was valued at US$ 144.37 billion in 2023 and is anticipated to reach a CAGR of 5.8% from 2024-2030. mining equipment market consists of mining tools, crushing equipment, drills, and feeding & conveying equipment. Minerals and metals are extracted from the ground making use of complex machinery, computerized remote-controlled equipment, and high-technology operations. Mining activity differs based on the kind of minerals and metals extracted from the earth. Usually, there are two kinds of mining processes such as underground and surface mining. Each mining process requires different equipment according to the applications.
A few activities involved in mining are smelting, milling, and smelting apart from digging. This market analysis covers details about trade rules, production analysis, market share, localized market players, market size, product launches, and strategic market growth analysis. As digitization and automation gain traction, technology is becoming a major differentiating feature for manufacturers and mining firms. Key players are concentrating on lowering extraction and equipment maintenance costs. Furthermore, the industry has seen widespread adoption of several clusters of technologies to improve operational efficiencies, such as top robotics and automation, smart sensors, and 3D printing. For example, ABB Ltd. launched the Ability Smart Sensor in January 2019 to assess the condition of mounted bearings to save downtime in mining during material handling. This segment of the market report gives details about competitors. These details include company financials, investment in development, revenue generated, regional presence, new product launch, market potential, new market initiatives, and company strengths and weaknesses. Prominent industry players working in the market
Study Period
2024-2030Base Year
2023CAGR
5.8%Largest Market
Asia-PacificFastest Growing Market
Asia Pacific
Increase in the coal use for the purpose of heating and electricity generation is going to drive the mining equipment market growth. The mining equipment market is booming because of the increase in mining activities to extract minerals and metals from the ground as there is growing demand for metals and minerals commodities. In addition, increasing preference towards different technologies like automation is lessening time required for mining activities and reducing labor cost too, which lead towards increase in the demand for mining equipment and drive the market growth. A few other major factors anticipated to increase the mining equipment market growth are increase in the need of mineral fertilizers and increase in the intake of natural resources like uranium, coal and diamond. But the strict government rules like emission norms, environmental concerns, significant rules and safety standards are anticipated to restrain the market growth.
Asia Pacific obtained a huge share in the mining equipment market because of its plentiful deposits and rising product costs. This region provides several opportunities for the mining industry as there is huge scope for exploration of coal, bauxite and iron ore. On the other hand, North America is also anticipated to record growth rate because of its development in automotive technology. Another market boosting factor is this region is home for huge deposits of iron, copper and gold offers a number of exploration opportunities.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 144.37 billion |
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Market CAGR |
5.8% |
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By Mining Type |
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By Equipment Category |
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By Industry |
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By Region |
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The mining equipment market size was valued at US$ 144.37 billion in 2023
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
Atlas Copco, Sandvik AB, Liebherr-International Deutschland GmbH, Terex Corporation, Mining Machines JSC, Hitachi Construction Machinery Co. Ltd, Komatsu Ltd
| 1.Executive Summary |
| 2.Global Mining Equipment Market Introduction |
| 2.1.Global Mining Equipment Market - Taxonomy |
| 2.2.Global Mining Equipment Market - Definitions |
| 2.2.1.Mining Type |
| 2.2.2.Equipment Category |
| 2.2.3. Industry |
| 2.2.4.Region |
| 3.Global Mining Equipment Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Mining Equipment Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Mining Equipment Market By Mining Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Surface |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Underground |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 6.Global Mining Equipment Market By Equipment Category, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Crushing, |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Drills & Beakers, |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Pulverizing & Screening Equipment, |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Mineral Processing |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 7.Global Mining Equipment Market By Industry, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. Metal, |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Coal, |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Minerals |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 8.Global Mining Equipment Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia Pacific (APAC) |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Middle East and Africa (MEA) |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Latin America |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9.North America Mining Equipment Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Mining Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Surface |
| 9.1.2.Underground |
| 9.2. Equipment Category Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Crushing, |
| 9.2.2.Drills & Beakers, |
| 9.2.3.Pulverizing & Screening Equipment, |
| 9.2.4.Mineral Processing |
| 9.3. Industry Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Metal, |
| 9.3.2.Coal, |
| 9.3.3.Minerals |
| 9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1.United States of America (USA) |
| 9.4.2.Canada |
| 10.Europe Mining Equipment Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Mining Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Surface |
| 10.1.2.Underground |
| 10.2. Equipment Category Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Crushing, |
| 10.2.2.Drills & Beakers, |
| 10.2.3.Pulverizing & Screening Equipment, |
| 10.2.4.Mineral Processing |
| 10.3. Industry Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Metal, |
| 10.3.2.Coal, |
| 10.3.3.Minerals |
| 10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Germany |
| 10.4.2.France |
| 10.4.3.Italy |
| 10.4.4.United Kingdom (UK) |
| 10.4.5.Spain |
| 10.4.6.Rest of EU |
| 11.Asia Pacific (APAC) Mining Equipment Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Mining Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Surface |
| 11.1.2.Underground |
| 11.2. Equipment Category Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Crushing, |
| 11.2.2.Drills & Beakers, |
| 11.2.3.Pulverizing & Screening Equipment, |
| 11.2.4.Mineral Processing |
| 11.3. Industry Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Metal, |
| 11.3.2.Coal, |
| 11.3.3.Minerals |
| 11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.China |
| 11.4.2.India |
| 11.4.3.Australia and New Zealand (ANZ) |
| 11.4.4.Japan |
| 11.4.5.Rest of APAC |
| 12.Middle East and Africa (MEA) Mining Equipment Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Mining Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Surface |
| 12.1.2.Underground |
| 12.2. Equipment Category Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Crushing, |
| 12.2.2.Drills & Beakers, |
| 12.2.3.Pulverizing & Screening Equipment, |
| 12.2.4.Mineral Processing |
| 12.3. Industry Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Metal, |
| 12.3.2.Coal, |
| 12.3.3.Minerals |
| 12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.GCC Countries |
| 12.4.2.South Africa |
| 12.4.3.Rest of MEA |
| 13.Latin America Mining Equipment Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 13.1. Mining Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Surface |
| 13.1.2.Underground |
| 13.2. Equipment Category Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Crushing, |
| 13.2.2.Drills & Beakers, |
| 13.2.3.Pulverizing & Screening Equipment, |
| 13.2.4.Mineral Processing |
| 13.3. Industry Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Metal, |
| 13.3.2.Coal, |
| 13.3.3.Minerals |
| 13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Brazil |
| 13.4.2.Mexico |
| 13.4.3.Rest of LA |
| 14. Competition Landscape |
| 14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 14.2.1.Sandvik AB |
| 14.2.2.Atlas Copco |
| 14.2.3.Liebherr-International Deutschland GmbH |
| 14.2.4.Terex Corporation, Mining Machines JSC |
| 14.2.5.Hitachi Construction Machinery Co. Ltd |
| 14.2.6.Komatsu Ltd |
| 14.2.7.Equipment North Inc |
| 14.2.8.ASTEC INDUSTRIES INC |
| 14.2.9.Hyundai Heavy Industries Co. Ltd |
| 14.2.10.RTM Equipment |
| 15. Research Methodology |
| 16. Appendix and Abbreviations |
Key Market Players
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