Sweden Underground Mining Equipment Market Size & Outlook
Sweden underground mining equipment market, 2018-2030 (US$M)
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Sweden underground mining equipment market highlights
- The Sweden underground mining equipment market generated a revenue of USD 705.1 million in 2024 and is expected to reach USD 626.8 million by 2030.
- The Sweden market is expected to grow at a CAGR of -1.9% 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 705.1 million |
| Market revenue in 2030 | USD 626.8 million |
| Growth rate | -1.9% (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, Sweden accounted for 1.6% 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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Sweden 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 26.05% in 2024. Horizon Databook has segmented the Sweden 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.
Sweden's underground mining equipment market is experiencing notable growth, largely driven by the country's increasing focus on sustainable mining practices and the recent discovery of Europe's largest known deposit of rare earth elements in January 2023.
The Per Geijer deposit, located near Kiruna above the Arctic Circle, contains over one million tons of mineable rare earth oxides, crucial for producing magnets used in electric vehicles and wind turbines—key components of the European Union’s green transition.
This discovery presents a significant opportunity for Sweden’s mining sector, which is expected to lead to a surge in demand for underground mining equipment as mining activities ramp up to extract these valuable minerals.
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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 Sweden underground mining equipment market , including forecasts for subscribers. This country databook contains high-level insights into Sweden underground mining equipment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Sweden underground mining equipment market size, by equipment, 2018-2030 (US$M)
Sweden Underground Mining Equipment Market Outlook Share, 2024 & 2030 (US$M)
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