Global Mining Equipment Market Size & Outlook, 2025-2033
Global mining equipment market, 2021-2033 (US$M)
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Global mining equipment market highlights
- The global mining equipment market generated a revenue of USD 148,104.4 million in 2024 and is expected to reach USD 239,439.2 million by 2033.
- The market is expected to grow at a CAGR (2025 - 2033) of 5.6% by 2033.
- In terms of segment, surface mining equipment accounted for a revenue of USD 60,668.0 million in 2024.
- Underground Mining Equipment is the most lucrative equipment type segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2024.
- Country-wise, Australia is expected to register the highest CAGR from 2025 to 2033.
Global data book summary
| Market revenue in 2024 | USD 148,104.4 million |
| Market revenue in 2033 | USD 239,439.2 million |
| Growth rate | 5.6% (CAGR from 2025 to 2033) |
| Largest segment | Surface mining equipment |
| Fastest growing segment | Underground Mining Equipment |
| Historical data covered | 2021 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2033 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Underground Mining Equipment, Surface Mining Equipment, Crushing, Pulverizing & Screening Equipment, Drills & Breakers |
Other key industry trends
- In terms of revenue, the North America accounted for 22.9% of the global mining equipment market in 2024.
- By country, the China is projected to lead the global market in terms of revenue in 2033.
- By country, Australia is the fastest growing regional market and is projected to reach USD 18,076.4 million by 2033.
Surface mining equipment was the largest segment with a revenue share of 40.96% in 2024. Horizon Databook has segmented the Global mining equipment market based on underground mining equipment, surface mining equipment, crushing, pulverizing & screening equipment, drills & breakers covering the revenue growth of each sub-segment from 2021 to 2033.
The ongoing exhaustive mining activities have resulted in decreasing ore grades worldwide. Due to this fall, more efficient comminution activities are needed to meet the global demand for minerals. Due to the declining proportion of the preferred metal and mineral in the mined ore, the output of the crushing and grinding process needs to be finer for better extraction.
According to the International Energy Agency, 8% to 10% of the total energy consumption is devoted to the extraction of the increased material demand. Factors such as improvements and innovations in extraction technologies have contributed to the changes in ore grades, extending the life of older mines over new mines.
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Mining Equipment Market Scope
Mining Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| China Coal Energy Co Ltd Class H | View profile | 47122 | No. 1 Huangsidajie, Chaoyang District, Beijing, China, People's Republic of, 100120 | https://www.chinacoalenergy.com |
| Liebherr Group | View profile | 10001+ | Biberach An Der Riß, Baden-Wurttemberg, Germany, Europe | http://www.liebherr.com |
| Metso Corp | View profile | 17121 | Rauhalanpuisto 9, Helsinki, Finland, 02330 | https://www.metso.com |
| Epiroc AB DR | View profile | 18157 | Sickla Industrivag 19, Nacka, Stockholm, Sweden, SE-131 54 | https://www.epirocgroup.com |
| Komatsu Ltd | View profile | 70608 | 3-6 Akasaka 2-chome, Minato-ku, Tokyo, Japan, 107-8414 | https://www.komatsu.jp |
| Caterpillar Inc | View profile | 121173 | 5205 N. O'Connor Boulevard, Suite 100, Irving, TX, United States, 75039 | https://www.caterpillar.com |
Global mining equipment market size, by regions, 2021-2033 (US$M)
Top 10 countries: Mining equipment market size, 2023 (US$M)
Global mining equipment market share, by equipment type, 2023 & 2030 (%, US$M)
Mining equipment market: Opportunity assessment by country
Global mining equipment market, by region, 2024 (US$M)
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