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Mining Equipment Market Size, Share & Trends Report, 2030

Mining Equipment Market Size, Share & Trends Report

Mining Equipment Market Size, Share & Trends Analysis Report By Equipment Type (Underground Mining Equipment, Surface Mining Equipment), By Power Source, By Power Output, By Application (Metal Mining), By Region, And Segment Forecasts, 2024 - 2030

Report ID: 978-1-68038-017-0
Number of Report Pages: 150
Format: PDF, Horizon Databook

Historical Range: 2018 - 2021
Forecast Period: 2023 - 2030
Industry: Technology

Mining Equipment Market Size & Trends

The global mining equipment market size was estimated at USD 141.31 billion in 2023 and is expected to expand at a compounded annual growth rate (CAGR) of 5.2% from 2023 to 2030. Ongoing digital mine innovation is expected to transform the key aspects of mining during the next few years. Increased investment, along with government support for digital mine innovation, is expected to trigger the demand for mining equipment during the forecast period. Improvements and innovations in extraction technologies and equipment have contributed to the betterment of ore grades, thus extending the life of older mines.

U.S. mining equipment market size, by equipment type, 2020 - 2030 (USD Billion)

The global outbreak of the COVID-19 crisis has made serious economic impacts across various industries, including the mining sector. The lower levels of economic activity due to the lockdown restrictions during the pandemic had significantly affected the demand for coal. In the coming years, the mining sector is expected to transform into a climate-smart industry. As a result, the mining companies are now looking forward to adopting electrification rather than conventional fuels like diesel.

Crushed rock, cement, gold, construction, industrial sand, gravel, iron ore, copper, and many more commodities regularly mined in the U.S. Thus, the rising demand for coal, gas, and oil sands, along with technological developments, is expected to drive this industry in the U.S. Some of the key manufacturers in the U.S. are Caterpillar Inc.; Metso Qutotec; Komatsu Ltd.; Boart Long year Ltd; Sany Group; and Liebherr.

The mining industry requires a large amount of energy to extract and protect resources, including a variety of refining and concentration processes. The decrease in the average copper ore grade has led to an increase in energy consumption and total material production, thereby propelling the demand for high-performance mining equipment.

The incorporation of artificial intelligence (AI) in mining equipment increases their efficiency, along with enhancing the productivity of mines and ensuring the safety of miners. Smart data and machine learning have also been adopted in the global mining industry across the world. The technological advancements are anticipated to propel the market demand throughout the forecast period.

Integration of automated technology in mining operations is expected to boost the demand for innovative mining equipment for firms to remain competitive. The demand for these automated solutions and equipment is expected to be higher in developed markets as the use of advanced technology requires highly skilled labor and strong network connectivity.

Market Concentration & Characteristics

The current stage of market growth for mining equipment is accelerating and the growth rate is medium. The mining equipment market exhibits a certain level of innovation attributed to the incorporation of the latest extraction technologies. This integration of advanced equipment has played a role in improving ore grades, consequently extending the operational life of older mines.

Mining Equipment Market Concentration & Characteristics

The mining equipment market is also characterized by a high level of merger & acquisition (M&A) and partnership activity by the market players. This is due to several factors, including launching advanced products, increasing customer base in the market, and maintaining a strong brand position in the market.

Government support for developing industries such as manufacturing, power, and infrastructure is expected to augment market growth. Energy-efficient equipment is being adopted due to the stringent regulations being implemented by authorities worldwide to reduce the environmental impact of greenhouse gases. To lower the concentration of emissions from fossil fuels, they also want to reach CO2 emission and fuel efficiency goals. This is leading to the adoption of new regulations, which is fostering market expansion.

There are few direct or external replacements for mining equipment. However, a notable challenge to the market arises from the emergence and adoption of alternative technologies and solutions that offer comparable or improved functionalities. Potential substitutes include the preference for electric alternatives over fossil fuel-powered equipment and the shift towards robotics and automation in place of manually operated machines.

End-user concentration is a significant factor in the market. The increasing demand for electric, highly automated equipment creates opportunities for companies that focus on developing advanced mining equipment’s in line with the growing preference for smarter and environmentally safe offerings. Buyers in the mining equipment market consider factors such as pricing, product quality, features provided, and the brand name before buying the product. Buyers generally enter into long-term contracts with suppliers to provide mining equipment.

Equipment Type Insights

The surface mining equipment type segment led the market and accounted for a 38.9% share of the global revenue in 2022. During the forecast period, rising demand for iron ore, coal, diamonds, and chromium in emerging nations is anticipated to open new opportunities for surface mining equipment. As the use of this equipment spreads, it has enabled selected mining activities that involve the exploration of high-quality resources and the construction of embankments and stable surfaces.

Underground mining has changed its operating systems through the evolution of equipment. The mine transportation system is crucial to underground mining. The sturdy manufacturing and high impact force of underground mining equipment make it an efficient piece of equipment for subterranean operations and therefore, fueling the demand for underground mining equipment during the forecast period.

The crushing, pulverizing & screening equipment type segment is expected to register a CAGR of 4.3% during the forecast period. Owing to the rise in demand for fixed and wheeled product lines, manufacturers of processing equipment for crushing, pulverizing, and screening anticipate stronger sales. The demand and use of mobile crushing, pulverizing, and screening processing equipment are also anticipated to increase, contributing to the expansion of the global market.

The drills & breakers systems equipment type segment accounted for a 6.9% share of the global revenue in 2022. The mining drills & breakers are anticipated to rise during the forecast period owing to the global expansion of mining activities coupled with technological advancements such as IoT, automation, infrared, optical micro cameras, and artificial intelligence.

Application Insights

The coal mining application led the market and accounted for a 37.8% share of the global revenue in 2022. The mining equipment is expected to witness significant growth in coal mining applications. The growth is attributed to its increased demand for electricity generation. Coal mining equipment has expanded its purposes and adoption as the excavation of coal has boomed.

Global mining equipment market share, by application, 2022 (%)

Owing to constantly improving technology, mining for rare earth metals has recently gained traction. The current high levels of investment in new technology recommend that for large metal mining operations, there is a focus on long-term value. In addition, newer methods of exploitation will emerge to maximize production cost-effectively.

Underground mining equipment is used to excavate hard minerals, usually those containing metals such as ore containing gold, silver, copper, zinc, and nickel. For instance, the 3D geological model shows the size and shape of the mineral deposits, making it easier to devise mining and exploration strategies.

Regional Insights

Asia Pacific led the market and accounted for a 35% share of the global revenue in 2022. The increasing shift toward clean energy resources and the adoption of electric vehicles in developing countries such as China and India are expected to drive market growth in the coming years.

Mining Equipment Market Trends by Region

North America region is likely to expand at a CAGR of 4.1% during the forecast period. Rising mineral mining activity, increased use of cutting-edge mining equipment, and government initiatives in North America are the major drivers boosting market growth. In addition, the shift from traditional underground mining to cutting-edge, cost-effective open-pit mining is anticipated to drive the demand for these products during the forecast period.

Europe is likely to develop at a CAGR of 4.5% during the forecast period. The manufacturers growing emphasis on carrying out underground mining activities, reducing carbon emissions, and increasing worker safety in Europe has resulted in a rise in demand for the electrification of underground mining equipment.

Central & South America accounted for an 8.6% share of the global revenue in 2022. The region is expected to gain traction in the coming years as sizeable investments are boosting mineral exploration activities. This, along with favorable mining regulations for overseas investors particularly in Colombia, Peru, Brazil, and Chile, is aiding the regional market growth.

Key Mining Equipment Company Insights

Some of the key players operating in the market include Komatsu Ltd., Liebherr, Epiroc, Boart Longyear and Caterpillar Inc.

Caterpillar Inc manufactures and sells mining and construction equipment, industrial gas turbines, diesel and natural gas engines, and diesel-electric locomotives for construction, energy & resource, and transportation industries. Furthermore, the company has established strong sales channel globally.
Deere & Company invest significantly in research & development to stay at the forefront of emerging trends and technologies in construction equipment. For instance, in 2022, the company invested USD 1,912 million in research & development activities.

Guangdong Leimeng Intelligent Equipment Group Co.,Ltd, Northern Heavy Industries Group Co., Ltd., and Vipeak Mining Machinery Co. Ltd are some of the emerging market participants in the mining equipment market.

Guangdong Leimeng Intelligent Equipment Group Co.,Ltd, offers intelligent mining integrated solutions and manufacturing large-scale crushing and screening equipment. The company's product line includes Mobile Crusher, Vibrating Screen & Transfer Machine, Sand Making & Washing Machine, Stone Crusher, and Spare Parts.The products of the company are used for various purposes, such as mining engineering, smelting engineering, building materials industry, highway engineering, railway engineering, construction engineering, water conservancy engineering, airport runway engineering, bridge engineering, and chemical engineering.
Northern Heavy Industries Group Co., Ltd. is merged with Shenyang Heavy Machinery Group Co., Ltd. and Shenyang Mining Machinery Group Co., Ltd. in 2006. The company is engaged in Construction, Agriculture, and Mining Machinery Manufacturing industries. The company's product line includes segments such as mining equipment, bulk material handling, cement plant, ore dressing plant, pellet plant, and spare parts.

Key Mining Equipment Companies:

The following are the leading companies in the mining equipment market. These companies collectively hold the largest market share and dictate industry trends. Financials, strategy maps & products of these mining equipment companies are analyzed to map the supply network.

Epiroc
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

Recent Developments

In July 2023, Komatsu Ltd. planned to launch PC210LCE-11 and 200LCE-11 models, and 20-ton electric excavators powered by Li-ion batteries. These machines will be launched in Japan and Europe. The introduction of these models marked a strategic move for Komatsu to tap into the electric construction equipment market. This initiative aligns with the company's broader commitment to achieving carbon neutrality by 2050.
In July 2023, Liebherr joined forces with Leica Geosystems to provide an extensive range of machine control systems tailored for hydraulic excavators. These systems serve as driver assistance tools, enhancing the efficiency, safety, and productivity of construction projects.
In July 2023, Metso Corporation entered into an agreement to acquire Brouwer Engineering, an Australian company. The diverse bulk material handling equipment of Mesto lineup aligns well with Brouwer Engineering's expertise in electrical and control systems. The collaboration aimed to provide customers with a holistic range of solutions by combining their respective capabilities.
In June 2023, Epiroc introduced a mobile hydraulic powerpack for blast hole drills. The product is designed to improve the efficiency of the electric drill. A wagon-mounted powerpack enables off-grid operation for electric drills for without requiring the need for electrical infrastructure.

Mining Equipment Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 141.31 billion
Revenue forecast in 2030	USD 201.55 billion
Growth rate	CAGR of 5.2% from 2023 to 2030
Historical data	2018 - 2023
Forecast period	2024 - 2030
Quantitative units	Revenue in USD million/billion, and CAGR from 2023 to 2030
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered	Equipment type, power source, power output, application, and region
Regional scope	North America; Europe; Asia Pacific; Latin America; MEA
Country scope	U.S.; Canada; Mexico; Germany; Sweden; France; U.K.; Italy; Norway; Finland; China; India; Japan; South Korea; Australia; Brazil; Argentina; Saudi Arabia; South Africa
Key companies profiled	Caterpillar, Inc.; CNH Industrial America LLC.; Deere & Company; Doosan Corporation; Escorts Limited; Hitachi Construction Machinery Co., Ltd.; Hyundai Construction Equipment Co., Ltd.; J C Bamford Excavators Ltd.; Komatsu Ltd.; KUBOTA Corporation; LIEBHERR; MANITOU Group; SANY Group; Terex Corporation; AB Volvo; Wacker Neuson SE; XCMG Group; Zoomlion Heavy Industry Science&Technology Co., Ltd.
Customization scope	Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs. Explore purchase options

Global Mining Equipment Market Segmentation

The report forecasts revenue growth at global, regional, and at country level and provides an analysis on the latest trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global mining equipment market report on the basis of equipment type, power source, power output, application, and region:

Global Mining Equipment Market Segmentation

Equipment Type Outlook (Revenue, USD Billion, 2018 - 2030)
- Underground Mining Equipment
- Surface Mining Equipment
- Crushing, Pulverizing & Screening Equipment
- Drills & Breakers
- Others
Power Source Outlook (Revenue, USD Million, 2018 - 2030)
- Gasoline
- Electric
Power Output Outlook (Revenue, USD Million, 2018 - 2030)
- <500 HP
- 500-2000 HP
- >2000 HP
Application Outlook (Revenue, USD Billion, 2018 - 2030)
- Metal Mining
- Non-metal Mining
- Coal Mining
Regional Outlook (Revenue, USD Billion, 2018 - 2030)
- North America
  - U.S.
  - Canada
  - Mexico
- Europe
  - Germany
  - France
  - U.K.
  - Italy
  - Norway
  - Sweden
  - Finland
- Asia Pacific
  - China
  - Japan
  - India
  - South Korea
  - Australia
- Central & South America
  - Brazil
  - Argentina
- Middle East & Africa
  - Saudi Arabia
  - South Africa

Frequently Asked Questions About This Report

Which segment accounted for the largest mining equipment market share?

b. Asia Pacific dominated the mining equipment market with a revenue share of 35.7% in 2023.The ongoing industrialization and urbanization in countries such as China, India, and South Korea expected to positively affect the growth of the market in the region during the forecast period

Who are the key players in the mining equipment market?

b. Some of the key players operating in the mining equipment market include Epiroc, 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, and Komatsu Ltd

What are the factors driving the mining equipment market?

b. The key factors that are driving the mining equipment market include the introduction of automated mining equipment at the major mine sites, and the increasing demand for efficient mining equipment expected to propel the demand during the forecast period.

How big is the mining equipment market?

b. The global mining equipment market size was estimated at USD 135 billion in 2022 and expected to reach USD 141.31 billion in 2023

What is the mining equipment market growth?

b. The mining equipment market, in terms of revenue, expected to grow at a compound annual growth rate of 5.1% from 2023 to 2030 to reach USD 201.55 billion by 2030.

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Table of Contents

Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Information Procurement
1.2.1. Purchased database.
1.2.2. GVR's internal database
1.2.3. Secondary sources & third - party perspectives
1.2.4. Primary research
1.3. Information Analysis
1.3.1. Data Analysis Models
1.4. Market Formulation & Data Visualization
1.5. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Mining Equipment Market Snapshot, 2023 & 2030
2.2. Equipment Type Segment Snapshot, 2023 & 2030
2.3. Power Source Segment Snapshot, 2023 & 2030
2.4. Power Output Segment Snapshot, 2023 & 2030
2.5. Application Segment Snapshot, 2023 & 2030
2.6. Competitive Landscape Snapshot, 2023 & 2030
Chapter 3. Mining Equipment Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Mining Equipment Market - Value Chain Analysis
3.3. Mining Equipment Market - Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint Analysis
3.3.3. Market Opportunity Analysis
3.4. Industry Analysis Tools
3.4.1. Mining Equipment Market - Porter's Analysis
3.4.2. Mining Equipment Market - PESTEL Analysis
Chapter 4. Mining Equipment Market Equipment Type Outlook
4.1. Mining Equipment Market Share by Equipment Type, 2023 & 2030 (USD Million) (Volume Units)
4.2. Underground Mining Equipment
4.2.1. Market Estimates and Forecast, 2018 - 2030 (USD Million) (Volume Units)
4.3. Surface Mining Equipment
4.3.1. Market Estimates and Forecast, 2018 - 2030 (USD Million) (Volume Units)
4.4. Crushing, Pulverizing & Screening Equipment
4.4.1. Market Estimates and Forecast, 2018 - 2030 (USD Million) (Volume Units)
4.5. Drills & Breakers
4.5.1. Market Estimates and Forecast, 2018 - 2030 (USD Million) (Volume Units)
4.6. Others
4.6.1. Market Estimates and Forecast, 2018 - 2030 (USD Million) (Volume Units)
Chapter 5. Mining Equipment Market Power Source Outlook
5.1. Mining Equipment Market Share by Power Source, 2023 & 2030 (USD Million)
5.2. Gasoline
5.2.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
5.3. Electric
5.3.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
Chapter 6. Mining Equipment Market Power Output Outlook
6.1. Mining Equipment Market Share by Power Output, 2023 & 2030 (USD Million)
6.2. <500 HP
6.2.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
6.3. 500-2000 HP
6.3.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
6.4. >2000 HP
6.4.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
Chapter 7. Mining Equipment Market: Regional Outlook
7.1. Mining Equipment Market Share by Region, 2023 & 2030 (USD Million)
7.2. North America
7.2.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
7.2.2. Market Estimates and Forecast by Equipment Type, 2018 - 2030 (USD Million)
7.2.3. Market Estimates and Forecast by Power Source, 2018 - 2030 (USD Million)
7.2.4. Market Estimates and Forecast by Power Output, 2018 - 2030 (USD Million)
7.2.5. Market Estimates and Forecast by Application, 2018 - 2030 (USD Million)
7.2.6. U.S.
7.2.6.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
7.2.6.2. Market Estimates and Forecast by Equipment Type, 2018 - 2030 (USD Million)
7.2.6.3. Market Estimates and Forecast by Power Source, 2018 - 2030 (USD Million)
7.2.6.4. Market Estimates and Forecast by Power Output, 2018 - 2030 (USD Million)
7.2.6.5. Market Estimates and Forecast by Application, 2018 - 2030 (USD Million)
7.2.7. Canada
7.2.7.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
7.2.7.2. Market Estimates and Forecast by Equipment Type, 2018 - 2030 (USD Million)
7.2.7.3. Market Estimates and Forecast by Power Source, 2018 - 2030 (USD Million)
7.2.7.4. Market Estimates and Forecast by Power Output, 2018 - 2030 (USD Million)
7.2.7.5. Market Estimates and Forecast by Application, 2018 - 2030 (USD Million)
7.2.8. Mexico
7.2.8.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
7.2.8.2. Market Estimates and Forecast by Equipment Type, 2018 - 2030 (USD Million)
7.2.8.3. Market Estimates and Forecast by Power Source, 2018 - 2030 (USD Million)
7.2.8.4. Market Estimates and Forecast by Power Output, 2018 - 2030 (USD Million)
7.2.8.5. Market Estimates and Forecast by Application, 2018 - 2030 (USD Million)
7.3. Europe
7.3.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
7.3.2. Market Estimates and Forecast by Equipment Type, 2018 - 2030 (USD Million)
7.3.3. Market Estimates and Forecast by Power Source, 2018 - 2030 (USD Million)
7.3.4. Market Estimates and Forecast by Power Output, 2018 - 2030 (USD Million)
7.3.5. U.K.
7.3.5.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
7.3.5.2. Market Estimates and Forecast by Equipment Type, 2018 - 2030 (USD Million)
7.3.5.3. Market Estimates and Forecast by Power Source, 2018 - 2030 (USD Million)
7.3.5.4. Market Estimates and Forecast by Power Output, 2018 - 2030 (USD Million)
7.3.5.5. Market Estimates and Forecast by Application, 2018 - 2030 (USD Million)
7.3.6. Germany
7.3.6.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
7.3.6.2. Market Estimates and Forecast by Equipment Type, 2018 - 2030 (USD Million)
7.3.6.3. Market Estimates and Forecast by Power Source, 2018 - 2030 (USD Million)
7.3.6.4. Market Estimates and Forecast by Power Output, 2018 - 2030 (USD Million)
7.3.6.5. Market Estimates and Forecast by Application, 2018 - 2030 (USD Million)
7.3.7. France
7.3.7.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
7.3.7.2. Market Estimates and Forecast by Equipment Type, 2018 - 2030 (USD Million)
7.3.7.3. Market Estimates and Forecast by Power Source, 2018 - 2030 (USD Million)
7.3.7.4. Market Estimates and Forecast by Power Output, 2018 - 2030 (USD Million)
7.3.7.5. Market Estimates and Forecast by Application, 2018 - 2030 (USD Million)
7.3.8. Italy
7.3.8.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
7.3.8.2. Market Estimates and Forecast by Equipment Type, 2018 - 2030 (USD Million)
7.3.8.3. Market Estimates and Forecast by Power Source, 2018 - 2030 (USD Million)
7.3.8.4. Market Estimates and Forecast by Power Output, 2018 - 2030 (USD Million)
7.3.8.5. Market Estimates and Forecast by Application, 2018 - 2030 (USD Million)
7.3.9. Norway
7.3.9.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
7.3.9.2. Market Estimates and Forecast by Equipment Type, 2018 - 2030 (USD Million)
7.3.9.3. Market Estimates and Forecast by Power Source, 2018 - 2030 (USD Million)
7.3.9.4. Market Estimates and Forecast by Power Output, 2018 - 2030 (USD Million)
7.3.9.5. Market Estimates and Forecast by Application, 2018 - 2030 (USD Million)
7.3.10. Sweden
7.3.10.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
7.3.10.2. Market Estimates and Forecast by Equipment Type, 2018 - 2030 (USD Million)
7.3.10.3. Market Estimates and Forecast by Power Source, 2018 - 2030 (USD Million)
7.3.10.4. Market Estimates and Forecast by Power Output, 2018 - 2030 (USD Million)
7.3.10.5. Market Estimates and Forecast by Application, 2018 - 2030 (USD Million)
7.3.11. Finland
7.3.11.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
7.3.11.2. Market Estimates and Forecast by Equipment Type, 2018 - 2030 (USD Million)
7.3.11.3. Market Estimates and Forecast by Power Source, 2018 - 2030 (USD Million)
7.3.11.4. Market Estimates and Forecast by Power Output, 2018 - 2030 (USD Million)
7.3.11.5. Market Estimates and Forecast by Application, 2018 - 2030 (USD Million)
7.4. Asia Pacific
7.4.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
7.4.2. Market Estimates and Forecast by Equipment Type, 2018 - 2030 (USD Million)
7.4.3. Market Estimates and Forecast by Power Source, 2018 - 2030 (USD Million)
7.4.4. Market Estimates and Forecast by Power Output, 2018 - 2030 (USD Million)
7.4.5. China
7.4.5.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
7.4.5.2. Market Estimates and Forecast by Equipment Type, 2018 - 2030 (USD Million)
7.4.5.3. Market Estimates and Forecast by Power Source, 2018 - 2030 (USD Million)
7.4.5.4. Market Estimates and Forecast by Power Output, 2018 - 2030 (USD Million)
7.4.6. India
7.4.6.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
7.4.6.2. Market Estimates and Forecast by Equipment Type, 2018 - 2030 (USD Million)
7.4.6.3. Market Estimates and Forecast by Power Source, 2018 - 2030 (USD Million)
7.4.6.4. Market Estimates and Forecast by Power Output, 2018 - 2030 (USD Million)
7.4.6.5. Market Estimates and Forecast by Application, 2018 - 2030 (USD Million)
7.4.7. Japan
7.4.7.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
7.4.7.2. Market Estimates and Forecast by Equipment Type, 2018 - 2030 (USD Million) (
7.4.7.3. Market Estimates and Forecast by Power Source, 2018 - 2030 (USD Million)
7.4.7.4. Market Estimates and Forecast by Power Output, 2018 - 2030 (USD Million)
7.4.7.5. Market Estimates and Forecast by Application, 2018 - 2030 (USD Million)
7.4.8. Australia
7.4.8.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
7.4.8.2. Market Estimates and Forecast by Equipment Type, 2018 - 2030 (USD Million)
7.4.8.3. Market Estimates and Forecast by Power Source, 2018 - 2030 (USD Million)
7.4.8.4. Market Estimates and Forecast by Power Output, 2018 - 2030 (USD Million)
7.4.8.5. Market Estimates and Forecast by Application, 2018 - 2030 (USD Million)
7.4.9. South Korea
7.4.9.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
7.4.9.2. Market Estimates and Forecast by Equipment Type, 2018 - 2030 (USD Million)
7.4.9.3. Market Estimates and Forecast by Power Source, 2018 - 2030 (USD Million)
7.4.9.4. Market Estimates and Forecast by Power Output, 2018 - 2030 (USD Million)
7.4.9.5. Market Estimates and Forecast by Application, 2018 - 2030 (USD Million)
7.5. South America
7.5.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
7.5.2. Market Estimates and Forecast by Equipment Type, 2018 - 2030 (USD Million)
7.5.3. Market Estimates and Forecast by Power Source, 2018 - 2030 (USD Million)
7.5.4. Market Estimates and Forecast by Power Output, 2018 - 2030 (USD Million)
7.5.5. Market Estimates and Forecast by Application, 2018 - 2030 (USD Million)
7.5.6. Brazil
7.5.6.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
7.5.6.2. Market Estimates and Forecast by Equipment Type, 2018 - 2030 (USD Million)
7.5.6.3. Market Estimates and Forecast by Power Source, 2018 - 2030 (USD Million)
7.5.6.4. Market Estimates and Forecast by Power Output, 2018 - 2030 (USD Million)
7.5.6.5. Market Estimates and Forecast by Application, 2018 - 2030 (USD Million)
7.5.7. Argentina
7.5.7.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
7.5.7.2. Market Estimates and Forecast by Equipment Type, 2018 - 2030 (USD Million)
7.5.7.3. Market Estimates and Forecast by Power Source, 2018 - 2030 (USD Million)
7.5.7.4. Market Estimates and Forecast by Power Output, 2018 - 2030 (USD Million)
7.5.7.5. Market Estimates and Forecast by Application, 2018 - 2030 (USD Million)
7.6. Middle East & Africa
7.6.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
7.6.2. Market Estimates and Forecast by Equipment Type, 2018 - 2030 (USD Million)
7.6.3. Market Estimates and Forecast by Power Source, 2018 - 2030 (USD Million)
7.6.4. Market Estimates and Forecast by Power Output, 2018 - 2030 (USD Million)
7.6.5. Market Estimates and Forecast by Application, 2018 - 2030 (USD Million)
7.6.6. U.A.E.
7.6.6.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
7.6.6.2. Market Estimates and Forecast by Equipment Type, 2018 - 2030 (USD Million)
7.6.6.3. Market Estimates and Forecast by Power Source, 2018 - 2030 (USD Million)
7.6.6.4. Market Estimates and Forecast by Power Output, 2018 - 2030 (USD Million)
7.6.6.5. Market Estimates and Forecast by Application, 2018 - 2030 (USD Million)
7.6.7. Saudi Arabia
7.6.7.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
7.6.7.2. Market Estimates and Forecast by Equipment Type, 2018 - 2030 (USD Million)
7.6.7.3. Market Estimates and Forecast by Power Source, 2018 - 2030 (USD Million)
7.6.7.4. Market Estimates and Forecast by Power Output, 2018 - 2030 (USD Million)
7.6.7.5. Market Estimates and Forecast by Application, 2018 - 2030 (USD Million)
7.6.8. South Africa
7.6.8.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
7.6.8.2. Market Estimates and Forecast by Equipment Type, 2018 - 2030 (USD Million)
7.6.8.3. Market Estimates and Forecast by Power Source, 2018 - 2030 (USD Million)
7.6.8.4. Market Estimates and Forecast by Power Output, 2018 - 2030 (USD Million)
7.6.8.5. Market Estimates and Forecast by Application, 2018 - 2030 (USD Million)
Chapter 8. Competitive Landscape
8.1. Company Categorization
8.2. Company Share Analysis, 2023
8.3. Company Heat Map Analysis, 2023
8.4. Strategy Mapping
8.5. Company Profiles (Overview, Financial Performance, Product Overview, Strategic Initiatives)
8.5.1. Epiroc
8.5.1.1. Company Overview
8.5.1.2. Financial Performance
8.5.1.3. Product Benchmarking
8.5.1.4. Recent Developments
8.5.2. Boart Long year Ltd
8.5.2.1. Company Overview
8.5.2.2. Financial Performance
8.5.2.3. Product Benchmarking
8.5.2.4. Recent Developments
8.5.3. Caterpillar Inc
8.5.3.1. Company Overview
8.5.3.2. Financial Performance
8.5.3.3. Product Benchmarking
8.5.3.4. Recent Developments
8.5.4. China Coal Energy Group Co. Ltd
8.5.4.1. Company Overview
8.5.4.2. Financial Performance
8.5.4.3. Product Benchmarking
8.5.4.4. Recent Developments
8.5.5. Vipeak Mining Machinery Co. Ltd
8.5.5.1. Company Overview
8.5.5.2. Financial Performance
8.5.5.3. Product Benchmarking
8.5.5.4. Recent Developments
8.5.6. Guangdong Leimeng Intelligent Equipment Group Co. Ltd
8.5.6.1. Company Overview
8.5.6.2. Financial Performance
8.5.6.3. Product Benchmarking
8.5.6.4. Recent Developments
8.5.7. Henan Baichy Machinery Equipment Co. Ltd
8.5.7.1. Company Overview
8.5.7.2. Financial Performance
8.5.7.3. Product Benchmarking
8.5.7.4. Recent Developments
8.5.8. Komatsu Ltd
8.5.8.1. Company Overview
8.5.8.2. Financial Performance
8.5.8.3. Product Benchmarking
8.5.8.4. Recent Developments
8.5.9. Liebherr
8.5.9.1. Company Overview
8.5.9.2. Financial Performance
8.5.9.3. Product Benchmarking
8.5.9.4. Recent Developments
8.5.10. Metso Qutotec
8.5.10.1. Company Overview
8.5.10.2. Financial Performance
8.5.10.3. Product Benchmarking
8.5.10.4. Recent Developments

List of Tables

Table 1 Mining equipment market - Industry snapshot & key buying criteria, 2018 - 2030
Table 2 Global mining equipment market, 2018 - 2030 (USD Million)
Table 3 Global mining equipment market, by region, 2018 - 2030 (USD Million)
Table 4 Global mining equipment market, by equipment type, 2018 - 2030 (USD Million)
Table 5 Global mining equipment market, by power source, 2018 - 2030 (USD Million)
Table 6 Global mining equipment market, by power output, 2018 - 2030 (USD Million)
Table 7 Global mining equipment market, by application, 2018 - 2030 (USD Million)
Table 8 Vendor landscape
Table 9 Underground mining equipment market, 2018 - 2030 (USD Million)
Table 10 Surface mining equipment market, by region, 2018 - 2030 (USD Million)
Table 11 Crushing, pulverizing & screening equipment market, 2018 - 2030 (USD Million)
Table 12 Drills & breakers market, 2018 - 2030 (USD Million)
Table 13 Other type of mining equipment market, 2018 - 2030 (USD Million)
Table 14 Gasoline mining equipment market, 2018 - 2030 (USD Million)
Table 15 Electric mining equipment market, 2018 - 2030 (USD Million)
Table 16 <500 HP mining equipment market, 2018 - 2030 (USD Million)
Table 17 500-2000 HP mining equipment market, 2018 - 2030 (USD Million)
Table 18 >2000 HP mining equipment market, 2018 - 2030 (USD Million)
Table 19 North America mining equipment market, 2018 - 2030 (USD Million)
Table 20 North America mining equipment market, by equipment, 2018 - 2030 (USD Million)
Table 21 North America mining equipment market, by Power source, 2018 - 2030 (USD Million)
Table 22 North America mining equipment market, by power output, 2018 - 2030 (USD Million)
Table 23 North America mining equipment market, by application, 2018 - 2030 (USD Million)
Table 24 U.S. mining equipment market, 2018 - 2030 (USD Million)
Table 25 U.S. mining equipment market, by equipment, 2018 - 2030 (USD Million)
Table 26 U.S. mining equipment market, by Power source, 2018 - 2030 (USD Million)
Table 27 U.S. mining equipment market, by power output, 2018 - 2030 (USD Million)
Table 28 U.S. mining equipment market, by application, 2018 - 2030 (USD Million)
Table 29 Canada mining equipment market, 2018 - 2030 (USD Million)
Table 30 Canada mining equipment market, by equipment, 2018 - 2030 (USD Million)
Table 31 Canada mining equipment market, by Power source, 2018 - 2030 (USD Million)
Table 32 Canada mining equipment market, by power output, 2018 - 2030 (USD Million)
Table 33 Canada mining equipment market, by application, 2018 - 2030 (USD Million)
Table 34 Mexico mining equipment market, 2018 - 2030 (USD Million)
Table 35 Mexico mining equipment market, by equipment, 2018 - 2030 (USD Million)
Table 36 Mexico mining equipment market, by Power source, 2018 - 2030 (USD Million)
Table 37 Mexico mining equipment market, by power output, 2018 - 2030 (USD Million)
Table 38 Mexico mining equipment market, by application, 2018 - 2030 (USD Million)
Table 39 Europe mining equipment market, 2018 - 2030 (USD Million)
Table 40 Europe mining equipment market, by equipment, 2018 - 2030 (USD Million)
Table 41 Europe mining equipment market, by Power source, 2018 - 2030 (USD Million)
Table 42 Europe mining equipment market, by power output, 2018 - 2030 (USD Million)
Table 43 Europe mining equipment market, by application, 2018 - 2030 (USD Million)
Table 44 Germany mining equipment market, 2018 - 2030 (USD Million)
Table 45 Germany mining equipment market, by equipment, 2018 - 2030 (USD Million)
Table 46 Germany mining equipment market, by Power source, 2018 - 2030 (USD Million)
Table 47 Germany mining equipment market, by power output, 2018 - 2030 (USD Million)
Table 48 Germany mining equipment market, by application, 2018 - 2030 (USD Million)
Table 49 U.K. mining equipment market, 2018 - 2030 (USD Million)
Table 50 U.K. mining equipment market, by equipment, 2018 - 2030 (USD Million)
Table 51 U.K. mining equipment market, by Power source, 2018 - 2030 (USD Million)
Table 52 U.K. mining equipment market, by power output, 2018 - 2030 (USD Million)
Table 53 U.K. mining equipment market, by application, 2018 - 2030 (USD Million)
Table 54 France mining equipment market, 2018 - 2030 (USD Million)
Table 55 France mining equipment market, by equipment, 2018 - 2030 (USD Million)
Table 56 France mining equipment market, by Power source, 2018 - 2030 (USD Million)
Table 57 France mining equipment market, by power output, 2018 - 2030 (USD Million)
Table 58 France mining equipment market, by application, 2018 - 2030 (USD Million)
Table 59 Sweden mining equipment market, 2018 - 2030 (USD Million)
Table 60 Sweden mining equipment market, by equipment, 2018 - 2030 (USD Million)
Table 61 Sweden mining equipment market, by Power source, 2018 - 2030 (USD Million)
Table 62 Sweden mining equipment market, by power output, 2018 - 2030 (USD Million)
Table 63 Sweden mining equipment market, by application, 2018 - 2030 (USD Million)
Table 64 Norway mining equipment market, 2018 - 2030 (USD Million)
Table 65 Norway mining equipment market, by equipment, 2018 - 2030 (USD Million)
Table 66 Norway mining equipment market, by Power source, 2018 - 2030 (USD Million)
Table 67 Norway mining equipment market, by power output, 2018 - 2030 (USD Million)
Table 68 Norway mining equipment market, by application, 2018 - 2030 (USD Million)
Table 69 Italy mining equipment market, 2018 - 2030 (USD Million)
Table 70 Italy mining equipment market, by equipment, 2018 - 2030 (USD Million)
Table 71 Italy mining equipment market, by Power source, 2018 - 2030 (USD Million)
Table 72 Italy mining equipment market, by power output, 2018 - 2030 (USD Million)
Table 73 Italy mining equipment market, by application, 2018 - 2030 (USD Million)
Table 74 Finland mining equipment market, 2018 - 2030 (USD Million)
Table 75 Finland mining equipment market, by equipment, 2018 - 2030 (USD Million)
Table 76 Finland mining equipment market, by Power source, 2018 - 2030 (USD Million)
Table 77 Finland mining equipment market, by power output, 2018 - 2030 (USD Million)
Table 78 Finland mining equipment market, by application, 2018 - 2030 (USD Million)
Table 79 Asia Pacific mining equipment market, 2018 - 2030 (USD Million)
Table 80 Asia Pacific mining equipment market, by equipment, 2018 - 2030 (USD Million)
Table 81 Asia Pacific mining equipment market, by Power source, 2018 - 2030 (USD Million)
Table 82 Asia Pacific mining equipment market, by power output, 2018 - 2030 (USD Million)
Table 83 Asia Pacific mining equipment market, by application, 2018 - 2030 (USD Million)
Table 84 China mining equipment market, 2018 - 2030 (USD Million)
Table 85 China mining equipment market, by equipment, 2018 - 2030 (USD Million)
Table 86 China mining equipment market, by Power source, 2018 - 2030 (USD Million)
Table 87 China mining equipment market, by power output, 2018 - 2030 (USD Million)
Table 88 China mining equipment market, by application, 2018 - 2030 (USD Million)
Table 89 India mining equipment market, 2018 - 2030 (USD Million)
Table 90 India mining equipment market, by equipment, 2018 - 2030 (USD Million)
Table 91 India mining equipment market, by Power source, 2018 - 2030 (USD Million)
Table 92 India mining equipment market, by power output, 2018 - 2030 (USD Million)
Table 93 India mining equipment market, by application, 2018 - 2030 (USD Million)
Table 94 Japan mining equipment market, 2018 - 2030 (USD Million)
Table 95 Japan mining equipment market, by equipment, 2018 - 2030 (USD Million)
Table 96 Japan mining equipment market, by Power source, 2018 - 2030 (USD Million)
Table 97 Japan mining equipment market, by power output, 2018 - 2030 (USD Million)
Table 98 Japan mining equipment market, by application, 2018 - 2030 (USD Million)
Table 99 South Korea mining equipment market, 2018 - 2030 (USD Million)
Table 100 South Korea mining equipment market, by equipment, 2018 - 2030 (USD Million)
Table 101 South Korea mining equipment market, by Power source, 2018 - 2030 (USD Million)
Table 102 South Korea mining equipment market, by power output, 2018 - 2030 (USD Million)
Table 103 South Korea mining equipment market, by application, 2018 - 2030 (USD Million)
Table 104 Australia mining equipment market, 2018 - 2030 (USD Million)
Table 105 Australia mining equipment market, by equipment, 2018 - 2030 (USD Million)
Table 106 Australia mining equipment market, by Power source, 2018 - 2030 (USD Million)
Table 107 Australia mining equipment market, by power output, 2018 - 2030 (USD Million)
Table 108 Australia mining equipment market, by application, 2018 - 2030 (USD Million)
Table 109 South America mining equipment market, 2018 - 2030 (USD Million)
Table 110 South America mining equipment market, by equipment, 2018 - 2030 (USD Million)
Table 111 South America mining equipment market, by Power source, 2018 - 2030 (USD Million)
Table 112 South America mining equipment market, by power output, 2018 - 2030 (USD Million)
Table 113 South America mining equipment market, by application, 2018 - 2030 (USD Million)
Table 114 Brazil mining equipment market, 2018 - 2030 (USD Million)
Table 115 Brazil mining equipment market, by equipment, 2018 - 2030 (USD Million)
Table 116 Brazil mining equipment market, by Power source, 2018 - 2030 (USD Million)
Table 117 Brazil mining equipment market, by power output, 2018 - 2030 (USD Million)
Table 118 Brazil mining equipment market, by application, 2018 - 2030 (USD Million)
Table 119 Argentina mining equipment market, 2018 - 2030 (USD Million)
Table 120 Argentina mining equipment market, by equipment, 2018 - 2030 (USD Million)
Table 121 Argentina mining equipment market, by Power source, 2018 - 2030 (USD Million)
Table 122 Argentina mining equipment market, by power output, 2018 - 2030 (USD Million)
Table 123 Argentina mining equipment market, by application, 2018 - 2030 (USD Million)
Table 124 North America mining equipment market, 2018 - 2030 (USD Million)
Table 125 MEA mining equipment market, by equipment, 2018 - 2030 (USD Million)
Table 126 MEA mining equipment market, by Power source, 2018 - 2030 (USD Million)
Table 127 MEA mining equipment market, by power output, 2018 - 2030 (USD Million)
Table 128 MEA mining equipment market, by application, 2018 - 2030 (USD Million)
Table 129 Saudi Arabia mining equipment market, 2018 - 2030 (USD Million)
Table 130 Saudi Arabia mining equipment market, by equipment, 2018 - 2030 (USD Million)
Table 131 Saudi Arabia mining equipment market, by Power source, 2018 - 2030 (USD Million)
Table 132 Saudi Arabia mining equipment market, by power output, 2018 - 2030 (USD Million)
Table 133 Saudi Arabia mining equipment market, by application, 2018 - 2030 (USD Million)
Table 134 South Africa mining equipment market, 2018 - 2030 (USD Million)
Table 135 South Africa mining equipment market, by equipment, 2018 - 2030 (USD Million)
Table 136 South Africa mining equipment market, by Power source, 2018 - 2030 (USD Million)
Table 137 South Africa mining equipment market, by power output, 2018 - 2030 (USD Million)
Table 138 South Africa mining equipment market, by application, 2018 - 2030 (USD Million)

List of Figures

Fig. 1 Market segmentation and scope
Fig. 2 Mining equipment market, 2018 - 2030 (USD Million)
Fig. 3 Mining equipment market - Value chain analysis
Fig. 4 Mining equipment market - Market dynamics
Fig. 5 Mining equipment market - Key market driver impact
Fig. 6 Mining equipment market - Key market restraint impact
Fig. 7 Mining equipment market - Key opportunities prioritized.
Fig. 8 Mining equipment market - Porter’s five forces analysis
Fig. 9 Mining equipment market - PESTEL analysis
Fig. 10 Mining equipment market, by equipment type, 2023
Fig. 11 Mining equipment market, by power source, 2023
Fig. 12 Mining equipment market, by power output, 2023
Fig. 13 Mining equipment market, by application, 2023
Fig. 14 Mining equipment market, by region, 2023
Fig. 15 Mining equipment market - Regional takeaways
Fig. 16 North America mining equipment market - Key takeaways
Fig. 17 Europe mining equipment market - Key takeaways
Fig. 18 Asia Pacific mining equipment market - Key takeaways
Fig. 19 South America mining equipment market - Key takeaways
Fig. 20 Middle East & Africa mining equipment market - Key takeaways

Market Segmentation

Equipment Type Outlook (Revenue, USD Billion, 2018 - 2030)
- Underground Mining Equipment
- Surface Mining Equipment
- Crushing, Pulverizing & Screening Equipment
- Drills & Breakers
- Others
Power Source Outlook (Revenue, USD Million, 2018 - 2030)
- Gasoline
- Electric
Power Output Outlook (Revenue, USD Million, 2018 - 2030)
- <500 HP
- 500-2000 HP
- >2000 HP
Application Output Outlook (Revenue, USD Billion, 2018 - 2030)
- Metal Mining
- Non-Metal Mining
- Coal Mining
Mining Equipment Regional Outlook (Revenue, USD Billion, 2018 - 2030)
- North America
  - North America Mining Equipment Market, By Equipment Type
    - Underground Mining Equipment
    - Surface Mining Equipment
    - Crushing, Pulverizing & Screening Equipment
    - Drills & Breakers
    - Others
  - North America Mining Equipment Market, by Power Source
  - North America Mining Equipment Market, by Power Output
    - <500 HP
    - 500-2000 HP
    - >2000 HP
  - North America Mining Equipment Market, By Application
    - Metal Mining
    - Non-Metal Mining
    - Coal Mining
  - U.S.
    - U.S. Mining Equipment Market, By Equipment Type
      - Underground Mining Equipment
      - Surface Mining Equipment
      - Crushing, Pulverizing & Screening Equipment
      - Drills & Breakers
      - Others
    - U.S. Mining Equipment Market, by Power Source
    - U.S. Mining Equipment Market, by Power Output
      - <500 HP
      - 500-2000 HP
      - >2000 HP
    - U.S. Mining Equipment Market, By Application
      - Metal Mining
      - Non-Metal Mining
      - Coal Mining
  - Canada
    - Canada Mining Equipment Market, By Equipment Type
      - Underground Mining Equipment
      - Surface Mining Equipment
      - Crushing, Pulverizing & Screening Equipment
      - Drills & Breakers
      - Others
    - Canada Mining Equipment Market, by Power Source
    - Canada Mining Equipment Market, by Power Output
      - <500 HP
      - 500-2000 HP
      - >2000 HP
    - Canada Mining Equipment Market, By Application
      - Metal Mining
      - Non-Metal Mining
      - Coal Mining
  - Mexico
    - Mexico Mining Equipment Market, By Equipment Type
      - Underground Mining Equipment
      - Surface Mining Equipment
      - Crushing, Pulverizing & Screening Equipment
      - Drills & Breakers
      - Others
    - Mexico Mining Equipment Market, by Power Source
    - Mexico Mining Equipment Market, by Power Output
      - <500 HP
      - 500-2000 HP
      - >2000 HP
    - Mexico Mining Equipment Market, By Application
      - Metal Mining
      - Non-Metal Mining
      - Coal Mining
- Europe
  - Europe Mining Equipment Market, By Equipment Type
    - Underground Mining Equipment
    - Surface Mining Equipment
    - Crushing, Pulverizing & Screening Equipment
    - Drills & Breakers
    - Others
  - Europe Mining Equipment Market, by Power Source
  - Europe Mining Equipment Market, by Power Output
    - <500 HP
    - 500-2000 HP
    - >2000 HP
  - Europe Mining Equipment Market, By Application
    - Metal Mining
    - Non-Metal Mining
    - Coal Mining
  - Germany
    - Germany Mining Equipment Market, By Equipment Type
      - Underground Mining Equipment
      - Surface Mining Equipment
      - Crushing, Pulverizing & Screening Equipment
      - Drills & Breakers
      - Others
    - Germany Mining Equipment Market, by Power Source
    - Germany Mining Equipment Market, by Power Output
      - <500 HP
      - 500-2000 HP
      - >2000 HP
    - Germany Mining Equipment Market, By Application
      - Metal Mining
      - Non-Metal Mining
      - Coal Mining
  - France
    - France Mining Equipment Market, By Equipment Type
      - Underground Mining Equipment
      - Surface Mining Equipment
      - Crushing, Pulverizing & Screening Equipment
      - Drills & Breakers
      - Others
    - France Mining Equipment Market, by Power Source
    - France Mining Equipment Market, by Power Output
      - <500 HP
      - 500-2000 HP
      - >2000 HP
    - France Mining Equipment Market, By Application
      - Metal Mining
      - Non-Metal Mining
      - Coal Mining
  - U.K.
    - U.K. Mining Equipment Market, By Equipment Type
      - Underground Mining Equipment
      - Surface Mining Equipment
      - Crushing, Pulverizing & Screening Equipment
      - Drills & Breakers
      - Others
    - U.K. Mining Equipment Market, by Power Source
    - U.K. Mining Equipment Market, by Power Output
      - <500 HP
      - 500-2000 HP
      - >2000 HP
    - U.K. Mining Equipment Market, By Application
      - Metal Mining
      - Non-Metal Mining
      - Coal Mining
  - Italy
    - Italy Mining Equipment Market, By Equipment Type
      - Underground Mining Equipment
      - Surface Mining Equipment
      - Crushing, Pulverizing & Screening Equipment
      - Drills & Breakers
      - Others
    - Italy Mining Equipment Market, by Power Source
    - Italy Mining Equipment Market, by Power Output
      - <500 HP
      - 500-2000 HP
      - >2000 HP
    - Italy Mining Equipment Market, By Application
      - Metal Mining
      - Non-Metal Mining
      - Coal Mining
  - Norway
    - Norway Mining Equipment Market, By Equipment Type
      - Underground Mining Equipment
      - Surface Mining Equipment
      - Crushing, Pulverizing & Screening Equipment
      - Drills & Breakers
      - Others
    - Norway Mining Equipment Market, by Power Source
    - Norway Mining Equipment Market, by Power Output
      - <500 HP
      - 500-2000 HP
      - >2000 HP
    - Norway Mining Equipment Market, By Application
      - Metal Mining
      - Non-Metal Mining
      - Coal Mining
  - Sweden
    - Sweden Mining Equipment Market, By Equipment Type
      - Underground Mining Equipment
      - Surface Mining Equipment
      - Crushing, Pulverizing & Screening Equipment
      - Drills & Breakers
      - Others
    - Sweden Mining Equipment Market, by Power Source
    - Sweden Mining Equipment Market, by Power Output
      - <500 HP
      - 500-2000 HP
      - >2000 HP
    - Sweden Mining Equipment Market, By Application
      - Metal Mining
      - Non-Metal Mining
      - Coal Mining
  - Finland
    - Finland Mining Equipment Market, By Equipment Type
      - Underground Mining Equipment
      - Surface Mining Equipment
      - Crushing, Pulverizing & Screening Equipment
      - Drills & Breakers
      - Others
    - Finland Mining Equipment Market, by Power Source
    - Finland Mining Equipment Market, by Power Output
      - <500 HP
      - 500-2000 HP
      - >2000 HP
    - Finland Mining Equipment Market, By Application
      - Metal Mining
      - Non-Metal Mining
      - Coal Mining
- Asia Pacific
  - Asia Pacific Mining Equipment Market, By Equipment Type
    - Underground Mining Equipment
    - Surface Mining Equipment
    - Crushing, Pulverizing & Screening Equipment
    - Drills & Breakers
    - Others
  - Asia Pacific Mining Equipment Market, by Power Source
  - Asia Pacific Mining Equipment Market, by Power Output
    - <500 HP
    - 500-2000 HP
    - >2000 HP
  - Asia Pacific Mining Equipment Market, By Application
    - Metal Mining
    - Non-Metal Mining
    - Coal Mining
  - China
    - China Mining Equipment Market, By Equipment Type
      - Underground Mining Equipment
      - Surface Mining Equipment
      - Crushing, Pulverizing & Screening Equipment
      - Drills & Breakers
      - Others
    - China Mining Equipment Market, by Power Source
    - China Mining Equipment Market, by Power Output
      - <500 HP
      - 500-2000 HP
      - >2000 HP
    - China Mining Equipment Market, By Application
      - Metal Mining
      - Non-Metal Mining
      - Coal Mining
  - Japan
    - Japan Mining Equipment Market, By Equipment Type
      - Underground Mining Equipment
      - Surface Mining Equipment
      - Crushing, Pulverizing & Screening Equipment
      - Drills & Breakers
      - Others
    - Japan Mining Equipment Market, by Power Source
    - Japan Mining Equipment Market, by Power Output
      - <500 HP
      - 500-2000 HP
      - >2000 HP
    - Japan Mining Equipment Market, By Application
      - Metal Mining
      - Non-Metal Mining
      - Coal Mining
  - India
    - India Mining Equipment Market, By Equipment Type
      - Underground Mining Equipment
      - Surface Mining Equipment
      - Crushing, Pulverizing & Screening Equipment
      - Drills & Breakers
      - Others
    - India Mining Equipment Market, by Power Source
    - India Mining Equipment Market, by Power Output
      - <500 HP
      - 500-2000 HP
      - >2000 HP
    - India Mining Equipment Market, By Application
      - Metal Mining
      - Non-Metal Mining
      - Coal Mining
  - South Korea
    - South Korea Mining Equipment Market, By Equipment Type
      - Underground Mining Equipment
      - Surface Mining Equipment
      - Crushing, Pulverizing & Screening Equipment
      - Drills & Breakers
      - Others
    - South Korea Mining Equipment Market, by Power Source
    - South Korea Mining Equipment Market, by Power Output
      - <500 HP
      - 500-2000 HP
      - >2000 HP
    - South Korea Mining Equipment Market, By Application
      - Metal Mining
      - Non-Metal Mining
      - Coal Mining
  - Australia
    - Australia Mining Equipment Market, By Equipment Type
      - Underground Mining Equipment
      - Surface Mining Equipment
      - Crushing, Pulverizing & Screening Equipment
      - Drills & Breakers
      - Others
    - Australia Mining Equipment Market, by Power Source
    - Australia Mining Equipment Market, by Power Output
      - <500 HP
      - 500-2000 HP
      - >2000 HP
    - Australia Mining Equipment Market, By Application
      - Metal Mining
      - Non-Metal Mining
      - Coal Mining
- Central & South America
  - Central & South America Mining Equipment Market, By Equipment Type
    - Underground Mining Equipment
    - Surface Mining Equipment
    - Crushing, Pulverizing & Screening Equipment
    - Drills & Breakers
    - Others
  - Central & South America Mining Equipment Market, by Power Source
  - Central & South America Mining Equipment Market, by Power Output
    - <500 HP
    - 500-2000 HP
    - >2000 HP
  - Central & South America Mining Equipment Market, By Application
    - Metal Mining
    - Non-Metal Mining
    - Coal Mining
  - Brazil
    - Brazil Mining Equipment Market, By Equipment Type
      - Underground Mining Equipment
      - Surface Mining Equipment
      - Crushing, Pulverizing & Screening Equipment
      - Drills & Breakers
      - Others
    - Brazil Mining Equipment Market, by Power Source
    - Brazil Mining Equipment Market, by Power Output
      - <500 HP
      - 500-2000 HP
      - >2000 HP
    - Brazil Mining Equipment Market, By Application
      - Metal Mining
      - Non-Metal Mining
      - Coal Mining
  - Argentina
    - Argentina Mining Equipment Market, By Equipment Type
      - Underground Mining Equipment
      - Surface Mining Equipment
      - Crushing, Pulverizing & Screening Equipment
      - Drills & Breakers
      - Others
    - Argentina Mining Equipment Market, by Power Source
    - Argentina Mining Equipment Market, by Power Output
      - <500 HP
      - 500-2000 HP
      - >2000 HP
    - Argentina Mining Equipment Market, By Application
      - Metal Mining
      - Non-Metal Mining
      - Coal Mining
- Middle East & Africa
  - Middle East & Africa Mining Equipment Market, By Equipment Type
    - Underground Mining Equipment
    - Surface Mining Equipment
    - Crushing, Pulverizing & Screening Equipment
    - Drills & Breakers
    - Others
  - Middle East & Africa Mining Equipment Market, by Power Source
  - Middle East & Africa Mining Equipment Market, by Power Output
    - <500 HP
    - 500-2000 HP
    - >2000 HP
  - Middle East & Africa Mining Equipment Market, By Application
    - Metal Mining
    - Non-Metal Mining
    - Coal Mining
  - Saudi Arabia
    - Saudi Arabia Mining Equipment Market, By Equipment Type
      - Underground Mining Equipment
      - Surface Mining Equipment
      - Crushing, Pulverizing & Screening Equipment
      - Drills & Breakers
      - Others
    - Saudi Arabia Mining Equipment Market, by Power Source
    - Saudi Arabia Mining Equipment Market, by Power Output
      - <500 HP
      - 500-2000 HP
      - >2000 HP
    - Saudi Arabia Mining Equipment Market, By Application
      - Metal Mining
      - Non-Metal Mining
      - Coal Mining
  - South Africa
    - South Africa Mining Equipment Market, By Equipment Type
      - Underground Mining Equipment
      - Surface Mining Equipment
      - Crushing, Pulverizing & Screening Equipment
      - Drills & Breakers
      - Others
    - South Africa Mining Equipment Market, by Power Source
    - South Africa Mining Equipment Market, by Power Output
      - <500 HP
      - 500-2000 HP
      - >2000 HP
    - South Africa Mining Equipment Market, By Application
      - Metal Mining
      - Non-Metal Mining
      - Coal Mining

Mining Equipment Market Dynamics

Driver: Decrease In Ore Grades

Due to decreasing ore grades worldwide, more efficient comminution activities are needed to meet the global demand for minerals. Due to the diminishing proportion of the desired metals and minerals in mined ores, the output of the crushing and grinding processes requires to be fine for improved extraction of ores. The mining industry requires a large amount of energy to extract and protect resources, including a variety of refining and concentration processes. The decrease in the average copper ore grade has led to an increase in energy consumption and total material production, thereby propelling the demand for high-performance mining equipment.

Improvements and innovations in extraction technologies have contributed to the changes in ore grades, extending the life of older mines over new mines. The decline in ore grades leads to a surge in material deposits that contain a significant amount of metals. Australia has been the largest exporter of iron ore in the world that witnessed an approximately 4% decrease in shipments, while shipments from South Korea rose in April 2020. China also witnessed a little decline in shipments in April 2020.

Driver: Mining Automation To Accelerate The Industry Growth

The integration of automated technology in mining operations is expected to boost the demand for innovative mining equipment. Mining companies are turning toward leading technology firms to use the latest automation technology in their existing mining equipment. Several mining companies are collaborating with each other for gaining real-time insights. The growing prevalence of automation has led key players to either retrofit their current product portfolio with the latest automation technologies or launch new automated products. Additionally, regional governments are taking initiatives toward the adoption of autonomous mining equipment as a part of their long-term mining strategy.

Restraint: High Machinery And Operating Costs

The high machinery, purchasing and maintenance cost associated with mining equipment is a big challenge to the industry’s growth. The lack of skilled personnel required to operate the mining equipment, and the lack of proper training for automotive engineers may significantly impact the demand. The high operating cost of these machines is also estimated to hinder industry growth. Moreover, the higher prices of these machines attributed to the new Environment Protection Agency (EPA) emission regulations. The unpredictable prices of raw materials, uncertainty in economic conditions, and the enforcement of emission-control norms are further estimated to impede the global mining equipment market growth over the forecast period.

What Does This Report Include?

This section will provide insights into the contents included in this mining equipment market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

Mining equipment market qualitative analysis

Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
- Company overview
- Financial performance
- Product benchmarking
- Latest strategic developments

Mining equipment market quantitative analysis

Market size, estimates, and forecast from 2018 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance

Research Methodology

A three-pronged approach was followed for deducing the mining equipment market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for mining equipment market to gather the most reliable and current information possible.

We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of mining equipment market data depending on the type of information we’re trying to uncover in our research.

Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
This step also entails the finalization of the report scope and data representation pattern.
Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Mining Equipment Market Categorization:

The mining equipment market was categorized into three segments, namely equipment type (Underground Mining Equipment, Surface Mining Equipment, Crushing, Pulverizing & Screening Equipment, Drills & Breakers), application (Metal Mining, Non-metal Mining, Coal Mining), and region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The mining equipment market was segmented into equipment type, application and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

Demand estimation of each product across countries/regions summed up to from the total market.
Variable analysis for demand forecast.
Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

Used extensively for new product forecasting or analyzing penetration levels.
Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The mining equipment market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into nineteen countries, namely, the U.S.; Canada; Mexico; Germany; Sweden; France; the UK.; Italy; Norway; Finland; China; India; Japan; South Korea; Australia; Brazil; Argentina; Saudi Arabia; South Africa.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Mining equipment market companies & financials:

The mining equipment market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

Atlas Copco AB (Epiroc AB): Atlas Copco AB is engaged in compressors, air treatment systems, industrial power tools, and assembly systems. The company also provides machine vision, vacuum solutions, and flow and power solutions.
Boart Longyear: Boart Longyear is a provider of performance tooling, drilling equipment, and mining services worldwide. The company operates through its two major operating segments, which include global products and global drilling services.
Caterpillar Inc.: Caterpillar is a manufacturer of natural gas engines, diesel engines, industrial gas turbines, construction & mining equipment, and diesel-electric locomotives.
China Coal Energy Group Co. Ltd.: China Coal Energy Group is involved in coal production and trade, coal to chemicals, coal mining equipment manufacturing, power generation, coal mine construction, and relevant engineering services.
Vipeak Mining Machinery Co., Ltd.: Vipeak Mining Machinery is engaged in industrial milling, sand making, project designing, mineral processing, and corollary equipment supplier.
Guangdong Leimeng Intelligent Equipment Group Co., Ltd.: Guangdong Leimeng Intelligent Equipment Group is engaged in intelligent mining integrated solutions, manufacturing of large-scale crushing, and screening equipment.
Baichy Machinery Equipment Co., Ltd.: Baichy Machinery Equipment is engaged in manufacturing powder grinding mills, building stone crushing machines, mineral processing machines, and mobile crushing plants.
Komatsu Ltd.: Komatsu deals in the manufacturing, development, marketing, and sales of various industrial-use products and services. The company provides excavating equipment including backhoe loaders; mini and hydraulic excavators; loading equipment comprising skid-steer and wheels loaders; roadbed and grading preparation equipment etc.
LIEBHERR: Liebherr is a diversified equipment manufacturing company consisting of ten divisions with a wide product range which include refrigeration and freezing, construction machines, mining, mobile and crawler cranes, material handling, maritime cranes, aerospace, and transportation system, gear technology and automation systems, components, and hotels.
Metso Outotec: Metso Outotec offer various products, systems, and services to their customers in oil and gas, aggregates, and mining industries worldwide.

Value chain-based sizing & forecasting

Supply Side Estimates

Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
Segment revenue determination via variable analysis and penetration modeling.
Competitive benchmarking to identify market leaders and their collective revenue shares.
Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

Identifying parent markets and ancillary markets
Segment penetration analysis to obtain pertinent
revenue/volume
Heuristic forecasting with the help of subject matter experts
Forecasting via variable analysis

Mining Equipment Market Report Objectives:

Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Mining Equipment Market Report Assumptions:

The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
All market estimates and forecasts have been validated through primary interviews with the key industry participants.
Inflation has not been accounted for to estimate and forecast the market.
Numbers may not add up due to rounding off.
Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
Latin America includes Central American countries and the South American continent
Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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