South Korea Underground Mining Equipment Market Size & Outlook
South Korea underground mining equipment market, 2018-2030 (US$M)
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South Korea underground mining equipment market highlights
- The South Korea underground mining equipment market generated a revenue of USD 393.9 million in 2024 and is expected to reach USD 549.3 million by 2030.
- The South Korea market is expected to grow at a CAGR of 5.7% 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 393.9 million |
| Market revenue in 2030 | USD 549.3 million |
| Growth rate | 5.7% (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, South Korea accounted for 0.9% 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 Asia Pacific, China underground mining equipment market is projected to lead the regional market in terms of revenue in 2030.
- Indonesia is the fastest growing regional market in Asia Pacific and is projected to reach USD 397.5 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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South Korea 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 28.81% in 2024. Horizon Databook has segmented the South Korea 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 South Korea is characterized by a combination of advanced technology, robust infrastructure, and a strategic focus on innovation. While the country has limited mineral resources, it is known for its production of minerals such as coal, gold, and various rare earth elements.
South Korea’s mining industry has traditionally been smaller compared to giants like China or Australia, but it is leveraging technological advancements to enhance its efficiency and sustainability.
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Target buyers of South Korea 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 South Korea underground mining equipment market , including forecasts for subscribers. This country databook contains high-level insights into South Korea underground mining equipment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea underground mining equipment market size, by equipment, 2018-2030 (US$M)
South Korea Underground Mining Equipment Market Outlook Share, 2024 & 2030 (US$M)
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