North America Underground Mining Equipment Market Size & Outlook
North America underground mining equipment market, 2018-2030 (US$M)
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North America underground mining equipment market highlights
- The North America underground mining equipment market generated a revenue of USD 11,599.5 million in 2024.
- The market is expected to grow at a CAGR of 4.9% 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, Mexico is expected to register the highest CAGR from 2025 to 2030.
North America data book summary
| Market revenue in 2024 | USD 11,599.5 million |
| Market revenue in 2030 | USD 15,444.4 million |
| Growth rate | 4.9% (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, North America region accounted for 26.9% 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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North 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 27.15% in 2024. Horizon Databook has segmented the North 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 North America is experiencing notable growth, largely driven by the evolving needs of the mining sector across Canada, U.S., and Mexico. The growth of this market is intricately linked to the increasing demand for minerals and raw materials.
As industries such as construction and manufacturing expand, the necessity for efficient extraction methods rises, prompting investment in advanced mining technologies. A resurgence in mining activities, particularly coal and precious metals, has further stimulated demand for specialized equipment.
This uptick reflects a broader trend where companies seek to enhance their operational efficiency and adapt to market needs through innovative machinery.
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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 North America underground mining equipment market , including forecasts for subscribers. This continent databook contains high-level insights into North America underground mining equipment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America underground mining equipment market size, by country, 2018-2030 (US$M)
North America Underground Mining Equipment Market Outlook Share, 2024 & 2030 (US$M)
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