Canada Underground Mining Equipment Market Size & Outlook
Canada underground mining equipment market, 2018-2030 (US$M)
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Canada underground mining equipment market highlights
- The Canada underground mining equipment market generated a revenue of USD 3,656.1 million in 2024 and is expected to reach USD 4,906.1 million by 2030.
- The Canada market is expected to grow at a CAGR of 5% from 2025 to 2030.
- In terms of segment, load haul dump (lhd) was the largest revenue generating equipment in 2024.
- Load Haul Dump (LHD) is the most lucrative equipment segment registering the fastest growth during the forecast period.
Underground mining equipment market data book summary
| Market revenue in 2024 | USD 3,656.1 million |
| Market revenue in 2030 | USD 4,906.1 million |
| Growth rate | 5% (CAGR from 2025 to 2030) |
| Largest segment | Load haul dump (lhd) |
| Fastest growing segment | Load Haul Dump (LHD) |
| Historical data | 2018 - 2023 |
| Base year | 2024 |
| Forecast period | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Shuttle Cars, Load Haul Dump (LHD), Articulated Vehicles, Underground Mining Trucks, Scooptrams, Drills, Bolters, Other Equipment |
Other key industry trends
- In terms of revenue, Canada accounted for 8.5% of the global underground mining equipment market in 2024.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. underground mining equipment market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 4,097.2 million by 2030.
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Underground Mining Equipment Market Scope
Underground Mining Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada underground mining equipment market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to underground mining equipment market will help companies and investors design strategic landscapes.
Load haul dump (lhd) was the largest segment with a revenue share of 28.54% in 2024. Horizon Databook has segmented the Canada underground mining equipment market based on shuttle cars, load haul dump (lhd), articulated vehicles, underground mining trucks, scooptrams, drills, bolters, other equipment covering the revenue growth of each sub-segment from 2018 to 2030.
The underground mining equipment market in Canada is witnessing robust growth, fueled by substantial contributions from the country's mining industry, which represented 7.8% of the national GDP in 2022.
The upward trajectory of the underground mining market is particularly notable in the extraction of metals. This strong performance is driving increased investments in advanced underground mining equipment as companies seek to enhance extraction efficiency and meet rising demand.
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Target buyers of Canada underground mining equipment market databook
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Our clientele includes a mix of underground mining equipment market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Canada underground mining equipment market , including forecasts for subscribers. This country databook contains high-level insights into Canada underground mining equipment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada underground mining equipment market size, by equipment, 2018-2030 (US$M)
Canada Underground Mining Equipment Market Outlook Share, 2024 & 2030 (US$M)
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