Mexico Underground Mining Equipment Market Size & Outlook
Mexico underground mining equipment market, 2018-2030 (US$M)
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Mexico underground mining equipment market highlights
- The Mexico underground mining equipment market generated a revenue of USD 2,976.4 million in 2024 and is expected to reach USD 4,097.2 million by 2030.
- The Mexico 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.
Underground mining equipment market data book summary
| Market revenue in 2024 | USD 2,976.4 million |
| Market revenue in 2030 | USD 4,097.2 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 | 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, Mexico accounted for 6.9% 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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Mexico 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 25.48% in 2024. Horizon Databook has segmented the Mexico 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 Mexico is experiencing considerable growth, fueled by the country's expanding mining sector, which has become a major opportunity for global suppliers, particularly from the U.S.
In 2022, Mexico's mining market was valued at USD 3.3 billion, with the country being one of the largest exporters of minerals and ores, generating a trade surplus of USD 12.8 billion. A considerable portion of Mexico's mining activities involves extracting precious metals, accounting for about 50% of the nation's mining output. Non-ferrous metals and other ores also contribute to its diverse mining landscape.
This steady growth in mining activities is creating ample demand for advanced underground mining equipment and technologies as operators look to improve efficiency and safety in their operations. Mining equipment suppliers can tap into this expanding market as Mexico continues to increase its mining production, which reached USD 16.16 billion in 2022.
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Target buyers of Mexico 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 Mexico underground mining equipment market , including forecasts for subscribers. This country databook contains high-level insights into Mexico underground mining equipment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico underground mining equipment market size, by equipment, 2018-2030 (US$M)
Mexico Underground Mining Equipment Market Outlook Share, 2024 & 2030 (US$M)
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