Saudi Arabia Underground Mining Equipment Market Size & Outlook
Saudi Arabia underground mining equipment market, 2018-2030 (US$M)
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Saudi Arabia underground mining equipment market highlights
- The Saudi Arabia underground mining equipment market generated a revenue of USD 1,284.9 million in 2024 and is expected to reach USD 1,912.3 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 6.9% 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.
Underground mining equipment market data book summary
| Market revenue in 2024 | USD 1,284.9 million |
| Market revenue in 2030 | USD 1,912.3 million |
| Growth rate | 6.9% (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, Saudi Arabia accounted for 3.0% 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 Middle East & Africa, South Africa underground mining equipment market is projected to lead the regional market in terms of revenue in 2030.
- UAE is the fastest growing regional market in Middle East & Africa and is projected to reach USD 653.0 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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Saudi Arabia 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 26.63% in 2024. Horizon Databook has segmented the Saudi Arabia 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 Saudi Arabia underground mining equipment market is driven by the country’s plans to diversify its economy through the Saudi Vision 2030 initiative, which places a strong emphasis on mining as a key pillar of economic growth. The initiative aims to expand the mining sector's contribution to the GDP by unlocking the potential of the Kingdom's vast mineral wealth, including gold, copper, zinc, and phosphate.
This has led to increased demand for modern underground mining equipment to enable efficient resource extraction and support large-scale mining projects. The rise in exploration activities across the Kingdom is another significant driver. Saudi Arabia’s vast untapped reserves, particularly in the Arabian Shield region, have attracted significant investments.
Companies like Maaden (Saudi Arabian Mining Company) are heavily investing in exploration and development projects, necessitating the procurement of advanced underground equipment such as continuous miners, shuttle cars, and ventilation systems to meet the operational demands.
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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 country-level data and insights on the Saudi Arabia underground mining equipment market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia underground mining equipment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia underground mining equipment market size, by equipment, 2018-2030 (US$M)
Saudi Arabia Underground Mining Equipment Market Outlook Share, 2024 & 2030 (US$M)
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