Russia Underground Mining Equipment Market Size & Outlook
Russia underground mining equipment market, 2018-2030 (US$M)
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Russia underground mining equipment market highlights
- The Russia underground mining equipment market generated a revenue of USD 1,681.2 million in 2024 and is expected to reach USD 1,726.7 million by 2030.
- The Russia market is expected to grow at a CAGR of 0.4% 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 1,681.2 million |
| Market revenue in 2030 | USD 1,726.7 million |
| Growth rate | 0.4% (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, Russia accounted for 3.9% 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 Europe, Russia underground mining equipment market is projected to lead the regional market in terms of revenue in 2030.
- Russia is the fastest growing regional market in Europe and is projected to reach USD 1,726.7 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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Russia 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 27.28% in 2024. Horizon Databook has segmented the Russia 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.
Russia’s underground mining equipment market is poised for growth, supported by the country’s new draft strategy for the development of its mineral resource base, which spans up to 2035. This strategy outlines two key scenarios: the basic scenario, which maintains current mineral reserves and extraction levels with minimal increases, and the target scenario, focused on expanding the mineral resource base to meet the growing demand for minerals crucial to Russia’s industrial and military sectors.
The target scenario’s emphasis on advancing mineral extraction capabilities will likely lead to increased investments in underground mining equipment to support these efforts. As Russia looks to expand its mining operations, particularly to supply resources for its expanding industrial base and military needs, the demand for advanced underground mining equipment is expected to rise.
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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 Russia underground mining equipment market , including forecasts for subscribers. This country databook contains high-level insights into Russia underground mining equipment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Russia underground mining equipment market size, by equipment, 2018-2030 (US$M)
Russia Underground Mining Equipment Market Outlook Share, 2024 & 2030 (US$M)
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