South Korea Mining Equipment Market Size & Outlook
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South Korea mining equipment market highlights
- The South Korea mining equipment market generated a revenue of USD 1,496.2 million in 2025 and is expected to reach USD 2,256.4 million by 2033.
- The South Korea market is expected to grow at a CAGR of 5.3% from 2026 to 2033.
- In terms of segment, surface mining equipment was the largest revenue generating equipment type in 2025.
- Underground Mining Equipment is the most lucrative equipment type segment registering the fastest growth during the forecast period.
Mining equipment market data book summary
| Market revenue in 2025 | USD 1,496.2 million |
| Market revenue in 2033 | USD 2,256.4 million |
| Growth rate | 5.3% (CAGR from 2026 to 2033) |
| Largest segment | Surface mining equipment |
| Fastest growing segment | Underground Mining Equipment |
| Historical data | 2021 - 2024 |
| Base year | 2025 |
| Forecast period | 2026 - 2033 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Underground Mining Equipment, Surface Mining Equipment, Crushing, Pulverizing & Screening Equipment, Drills & Breakers |
| Key market players worldwide | Epiroc AB DR, Caterpillar Inc, China Coal Energy Co Ltd Class H, Komatsu Ltd, Liebherr Group, Metso Corp |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.0% of the global mining equipment market in 2025.
- Country-wise, China is expected to lead the global market in terms of revenue in 2033.
- In Asia Pacific, China mining equipment market is projected to lead the regional market in terms of revenue in 2033.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 18,076.4 million by 2033.
Surface mining equipment was the largest segment with a revenue share of 43.68% in 2025. Horizon Databook has segmented the South Korea 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.
According to the International Monetary Fund, the GDP growth of South Korea declined by 0.9% in 2020 in the wake of the COVID-19 pandemic According to the U.S. Department of State, South Korea is an attractive investment destination for foreign players largely because of its political stability, logistics, and information & communications infrastructure.
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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 |
South Korea mining equipment market size, by equipment type, 2021-2033 (US$M)
South Korea Mining Equipment Market Outlook Share, 2025 & 2033 (US$M)
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