Europe Underground Mining Equipment Market Size & Outlook
Europe underground mining equipment market, 2018-2030 (US$M)
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Europe underground mining equipment market highlights
- The Europe underground mining equipment market generated a revenue of USD 6,748.1 million in 2024.
- The market is expected to grow at a CAGR of -1.1% 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.
- Country-wise, Russia is expected to register the highest CAGR from 2025 to 2030.
Europe data book summary
| Market revenue in 2024 | USD 6,748.1 million |
| Market revenue in 2030 | USD 6,311.9 million |
| Growth rate | -1.1% (CAGR from 2025 to 2030) |
| Largest segment | Load haul dump (lhd) |
| Fastest growing segment | Load Haul Dump (LHD) |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 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, Europe region accounted for 15.6% of the global underground mining equipment market in 2024.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 25,349.9 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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Europe 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 27.16% in 2024. Horizon Databook has segmented the Europe 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 Europe is set for significant growth, driven by a collaborative effort among member states to enhance raw material extraction capabilities essential for the continent's industrial and green transition goals.
A unified approach is emerging as various European nations align on the need to bolster domestic production of critical minerals. Governments are introducing significant investments and regulatory frameworks to stimulate this sector, with an emphasis on sustainability and innovation.
Initiatives such as Germany's establishment of a substantial investment fund, aimed at reinforcing its local supply chain for essential resources, exemplify how national strategies are increasingly interlinked with broader EU objectives.
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Target buyers of Europe 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 continent-level data and insights on the Europe underground mining equipment market , including forecasts for subscribers. This continent databook contains high-level insights into Europe underground mining equipment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe underground mining equipment market size, by country, 2018-2030 (US$M)
Europe Underground Mining Equipment Market Outlook Share, 2024 & 2030 (US$M)
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