Latin America Underground Mining Equipment Market Size & Outlook
Latin America underground mining equipment market, 2018-2030 (US$M)
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Latin America underground mining equipment market highlights
- The Latin America underground mining equipment market generated a revenue of USD 3,439.8 million in 2024.
- The market is expected to grow at a CAGR of 5.5% 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.
- Country-wise, Argentina is expected to register the highest CAGR from 2025 to 2030.
Latin America data book summary
| Market revenue in 2024 | USD 3,439.8 million |
| Market revenue in 2030 | USD 4,738.2 million |
| Growth rate | 5.5% (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, Latin America region accounted for 8.0% 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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Latin America 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 28.03% in 2024. Horizon Databook has segmented the Latin America 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 Latin America is driven by growing investments in mining projects and the region's rich mineral reserves, including copper, gold, and lithium. Countries like Brazil, Chile, and Peru are major contributors due to their large-scale mining activities.
The increasing global demand for metals and minerals, particularly for renewable energy technologies and electric vehicles, supports the adoption of advanced underground mining equipment. Infrastructure developments play a key role, as efficient transportation and processing facilities are crucial for mining operations.
The integration of innovative technologies such as automation and batteryelectric mining vehicles further propels the market. Additionally, the transition toward cleaner energy has driven demand for equipment used in mining critical materials like lithium and cobalt, which are essential for battery production.
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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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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America underground mining equipment market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America underground mining equipment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America underground mining equipment market size, by country, 2018-2030 (US$M)
Latin America Underground Mining Equipment Market Outlook Share, 2024 & 2030 (US$M)
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