India Underground Mining Equipment Market Size & Outlook
India underground mining equipment market, 2018-2030 (US$M)
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India underground mining equipment market highlights
- The India underground mining equipment market generated a revenue of USD 1,846.8 million in 2024 and is expected to reach USD 2,703.2 million by 2030.
- The India market is expected to grow at a CAGR of 6.6% 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 1,846.8 million |
| Market revenue in 2030 | USD 2,703.2 million |
| Growth rate | 6.6% (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, India accounted for 4.3% 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 Asia Pacific, China underground mining equipment market is projected to lead the regional market in terms of revenue in 2030.
- Indonesia is the fastest growing regional market in Asia Pacific and is projected to reach USD 397.5 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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India 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 25.64% in 2024. Horizon Databook has segmented the India 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 India is experiencing significant growth, driven by the nation’s expanding steel production and mineral resources. As the second-largest steel producer globally, India has seen its finished steel production increase by over 12.7% in 2023-24 compared to the same period last year, according to Invest India.
This surge in production is accompanied by a notable rise in steel consumption, which grew by 13.9% to reach 136.3 million tonnes in 2023-24, highlighting the robust demand for construction and infrastructure materials. Coal production, a vital component of India’s energy landscape, also reflects positive growth.
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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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Horizon Databook provides a detailed overview of country-level data and insights on the India underground mining equipment market , including forecasts for subscribers. This country databook contains high-level insights into India underground mining equipment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India underground mining equipment market size, by equipment, 2018-2030 (US$M)
India Underground Mining Equipment Market Outlook Share, 2024 & 2030 (US$M)
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