The Global Mining Equipment Market Size is valued at USD 133 billion in 2021 and is estimated to achieve a market size of USD 185 billion by 2030; growing at a CAGR of 4.1%.
The mining equipment industry is anticipated to witness potential growth prospects globally. Rapid industrialization, increasing construction and infrastructure development projects, and increasing disposable income are primary aspects that are fueling the mining equipment market revenue. Additionally, advent of novel technologies in mining is anticipated to generate significant growth opportunities for the market in the coming years.
Global Mining Equipment Market DRO’s:
Market Drivers:
- Increase in demand for underground mining equipment
- Integration of advanced technologies in mining equipment
- Surge in consumption of natural resources in electronics industry
Market Restraints:
- Strict government regulations and tariffs
- High machinery and operating cost
Market Opportunities:
- Growing investment in innovation and digitalization
- Mining automation to accelerate the industry growth
Report Coverage
Market |
Mining Equipment Market |
Market Size 2021 |
USD 133 Billion |
Market Forecast 2030 |
USD 185 Billion |
CAGR During 2022 - 2030 |
4.1% |
Analysis Period |
2018 - 2030 |
Base Year |
2021 |
Forecast Data |
2022 - 2030 |
Segments Covered |
By Product, By Application, And By Geography
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Key Companies Profiled |
Atlas Copco, Caterpillar, Doosan, Hitachi Construction Machinery, Komatsu, Liebherr, Sandvik, Sany, Terex, and Volvo Construction Equipment. |
Report Coverage
|
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
Customization Scope |
10 hrs of free customization and expert consultation
|
Mining Equipment Market Dynamics
Increasing exploration activities related to bauxite, iron ore, and coal in developing countries, rising construction and reconstruction activities in emerging economies is resulting in rising demand for low profile dump trucks (LPDT) and load haul and dump (LHD) loaders this is major factor expected to drive the growth of global market. In addition, favorable government policies, high expenditure and increasing digital mining innovation are among other factors expected to further support the growth of target market.
However, factors such as high capital investment and high cost associated to operation and maintenance of the equipments are expected to hamper the growth of global mining equipment market. In addition, availability of rental option is another factor expected to challenge the growth of target market.
Rapid technological advancements and innovative cost-effective product offerings by major players are factors expected to create new opportunities for players operating in the target market over the forecast period. In addition, increasing partnerships and agreements between regional and international players is another factor expected to revenue support the growth if target market
Mining Equipment Market Segmentation
The worldwide mining equipment market is split based on product, application, and geography.
Mining Equipment Market By Product
- Underground Mining
- Low Profile Dump Trucks (LPDT)
- Load Haul and Dump (LHD) Loaders
- Surface Mining
- Dumpers
- Electric Shoves
- Excavators
- Others
- Crushing, Pulverizing, & Screening
- Drills & Breakers
- Others
In 2021, surface mining segment occupied a significant share among the products owing to the increasing construction projects across the world. Rapid industrialization, economic development, and the existence of competitive market contributors are some of the factors contributing to the global market's rising demand for surface mining activities, which, in turn, drives the global market. Furthermore, the rising popularity of innovation techniques and the rising trend of automation are expected to drive market growth over the forecast period.
Mining Equipment Market by Application
According to our mining equipment market forecast, the metal mining sub-segment is expected to lead the mining equipment market share from 2022 to 2030. Some of the factors such as high demand for precious metals, favorable government initiatives, and rise in hauling of metal deposits are supporting the metal mining industry. However, the non-metal mining sub-segment is anticipated to attain the fastest growth rate in the coming years driven by the demand for the extraction of stones, rocks, and sand.
Mining Equipment Market Regional Outlook
North America
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Latin America
- Mexico
- Brazil
- Rest of Latin America
Asia-Pacific
- India
- Japan
- China
- Australia
- South Korea
- Rest of Asia-Pacific
The Middle East & Africa (MEA)
- Gulf Cooperation Council (GCC)
- South Africa
- Rest of the Middle East & Africa
Increasing construction activities in Asian countries fuels the Asia-Pacific mining equipment market
Asia Pacific is expected to lead the market in the near future owing to rising construction and reconstruction activities. In addition, high coal exploration activities in developing countries and players inclination towards emerging economies in order to track the untapped market is another important factor expected to further support the growth of target market. On the other hand, the market in North America is expected to register moderate growth rate owing to high government spending on digital mine. In addition, presence of major players operating in the country and innovative product offerings is another important factor expected to further support the growth of regional market.
Mining Equipment Market Players
The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.
Some of the key mining equipment companies include Atlas Copco, Caterpillar, Doosan, Hitachi Construction Machinery, Komatsu, Liebherr, Sandvik, Sany, Terex, and Volvo Construction Equipment.
Major players are focused on business expansion through strategic merger and acquisition in order to increase the business presence and enhance the customer base this is another important factor expected to augment to growth of target market.
- In 2018, Sandvik acquired Inrock a leading supplier of rock drilling tools and services for Horizontal Directional Drilling (HDD) in North America. This acquisition is expected to help the company to strengthen its position in North America and enhance the customer base.
- In 2018, Liebherr a global manufacturer of construction and mining equipment established new facility with total area of 43,000 square meters in Rognac, France. This is expected to help the company to expand its customer base and cater to demand for sales, rental, and servicing of earthmoving, material handling, and construction machines.
In addition, players focus on innovative product offerings is another factor expected to further support the growth of target market.
- In 2018, Epiroc, a leading productivity partner for the mining, infrastructure and natural resources industries launched a second generation of battery-operated machines that will lower mining customers’ costs and promote a healthier work environment. This is expected to help the company to enhance the customer base.
In 2018, Volvo Construction a leading manufacturer of construction equipment used 3D printing in order to effectively provide spare parts to customers. This is expected to help the company to strengthen its position in global market.
CHAPTER 1. Industry Overview of Mining Equipment Market
1.1. Definition and Scope
1.1.1. Definition of Mining Equipment
1.1.2. Market Segmentation
1.1.3. Years Considered for the Study
1.1.4. Assumptions and Acronyms Used
1.1.4.1. Market Assumptions and Market Forecast
1.1.4.2. Acronyms Used in Global Mining Equipment Market
1.2. Summary
1.2.1. Executive Summary
1.2.2. Mining Equipment Market By Product
1.2.3. Mining Equipment Market By Application
1.2.4. Mining Equipment Market By Region
CHAPTER 2. Research Approach
2.1. Methodology
2.1.1. Research Programs
2.1.2. Market Size Estimation
2.1.3. Market Breakdown and Data Triangulation
2.2. Data Source
2.2.1. Secondary Sources
2.2.2. Primary Sources
CHAPTER 3. Market Dynamics And Competition Analysis
3.1. Market Drivers
3.1.1. Driver 1
3.1.2. Driver 2
3.2. Restraints and Challenges
3.2.1. Restraint 1
3.2.2. Restraint 2
3.3. Growth Opportunities
3.3.1. Opportunity 1
3.3.2. Opportunity 2
3.4. Porter’s Five Forces Analysis
3.4.1. Bargaining Power of Suppliers
3.4.2. Bargaining Power of Buyers
3.4.3. Threat of Substitute
3.4.4. Threat of New Entrants
3.4.5. Degree of Competition
3.5. Market Concentration Ratio and Market Maturity Analysis of Mining Equipment Market
3.5.1. Go To Market Strategy
3.5.1.1. Introduction
3.5.1.2. Growth
3.5.1.3. Maturity
3.5.1.4. Saturation
3.5.1.5. Possible Development
3.6. Technological Roadmap for Mining Equipment Market
3.7. Value Chain Analysis
3.7.1. List of Key Manufacturers
3.7.2. List of Customers
3.7.3. Level of Integration
3.8. Cost Structure Analysis
3.8.1. Price Trend of Key Raw Materials
3.8.2. Raw Material Suppliers
3.8.3. Proportion of Manufacturing Cost Structure
3.8.3.1. Raw Material
3.8.3.2. Labor Cost
3.8.3.3. Manufacturing Expense
3.9. Regulatory Compliance
3.10. Competitive Landscape, 2021
3.10.1. Player Positioning Analysis
3.10.2. Key Strategies Adopted By Leading Players
CHAPTER 4. Manufacturing Plant Analysis
4.1. Manufacturing Plant Location and Establish Date of Major Manufacturers in 2021
4.2. R&D Status of Major Manufacturers in 2021
CHAPTER 5. Mining Equipment Market By Product
5.1. Introduction
5.2. Mining Equipment Revenue By Product
5.2.1. Mining Equipment Revenue (USD Billion) and Forecast, By Product, 2018-2030
5.2.2. Underground Mining
5.2.2.1. Underground Mining Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
5.2.2.2. Low Profile Dump Trucks (LPDT) Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
5.2.2.2.1. Low Profile Dump Trucks (LPDT) Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
5.2.2.3. Load Haul and Dump (LHD) Loaders Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
5.2.2.3.1. Load Haul and Dump (LHD) Loaders Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
5.2.3. Surface Mining
5.2.3.1. Surface Mining Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
5.2.3.2. Electric Shoves Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
5.2.3.2.1. Electric Shoves Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
5.2.3.3. Excavators Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
5.2.3.3.1. Excavators Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
5.2.3.4. Dumpers Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
5.2.3.4.1. Dumpers Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
5.2.3.5. Others Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
5.2.3.5.1. Others Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
5.2.4. Crushing, Pulverizing, & Screening
5.2.4.1. Crushing, Pulverizing, & Screening Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
5.2.5. Drills & Breakers
5.2.5.1. Drills & Breakers Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
5.2.6. Others
5.2.6.1. Others Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
CHAPTER 6. Mining Equipment Market By Application
6.1. Introduction
6.2. Mining Equipment Revenue By Application
6.2.1. Mining Equipment Revenue (USD Billion) and Forecast, By Application, 2018-2030
6.2.2. Metal
6.2.2.1. Metal Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
6.2.3. Non-Metal
6.2.3.1. Non-Metal Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
6.2.4. Coal
6.2.4.1. Coal Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
CHAPTER 7. North America Mining Equipment Market By Country
7.1. North America Mining Equipment Market Overview
7.2. U.S.
7.2.1. U.S. Mining Equipment Revenue (USD Billion) and Forecast By Product, 2018-2030
7.2.2. U.S. Mining Equipment Revenue (USD Billion) and Forecast By Application, 2018-2030
7.3. Canada
7.3.1. Canada Mining Equipment Revenue (USD Billion) and Forecast By Product, 2018-2030
7.3.2. Canada Mining Equipment Revenue (USD Billion) and Forecast By Application, 2018-2030
7.4. North America PEST Analysis
CHAPTER 8. Europe Mining Equipment Market By Country
8.1. Europe Mining Equipment Market Overview
8.2. U.K.
8.2.1. U.K. Mining Equipment Revenue (USD Billion) and Forecast By Product, 2018-2030
8.2.2. U.K. Mining Equipment Revenue (USD Billion) and Forecast By Application, 2018-2030
8.3. Germany
8.3.1. Germany Mining Equipment Revenue (USD Billion) and Forecast By Product, 2018-2030
8.3.2. Germany Mining Equipment Revenue (USD Billion) and Forecast By Application, 2018-2030
8.4. France
8.4.1. France Mining Equipment Revenue (USD Billion) and Forecast By Product, 2018-2030
8.4.2. France Mining Equipment Revenue (USD Billion) and Forecast By Application, 2018-2030
8.5. Spain
8.5.1. Spain Mining Equipment Revenue (USD Billion) and Forecast By Product, 2018-2030
8.5.2. Spain Mining Equipment Revenue (USD Billion) and Forecast By Application, 2018-2030
8.6. Rest of Europe
8.6.1. Rest of Europe Mining Equipment Revenue (USD Billion) and Forecast By Product, 2018-2030
8.6.2. Rest of Europe Mining Equipment Revenue (USD Billion) and Forecast By Application, 2018-2030
8.7. Europe PEST Analysis
CHAPTER 9. Asia Pacific Mining Equipment Market By Country
9.1. Asia Pacific Mining Equipment Market Overview
9.2. China
9.2.1. China Mining Equipment Revenue (USD Billion) and Forecast By Product, 2018-2030
9.2.2. China Mining Equipment Revenue (USD Billion) and Forecast By Application, 2018-2030
9.3. Japan
9.3.1. Japan Mining Equipment Revenue (USD Billion) and Forecast By Product, 2018-2030
9.3.2. Japan Mining Equipment Revenue (USD Billion) and Forecast By Application, 2018-2030
9.4. India
9.4.1. India Mining Equipment Revenue (USD Billion) and Forecast By Product, 2018-2030
9.4.2. India Mining Equipment Revenue (USD Billion) and Forecast By Application, 2018-2030
9.5. Australia
9.5.1. Australia Mining Equipment Revenue (USD Billion) and Forecast By Product, 2018-2030
9.5.2. Australia Mining Equipment Revenue (USD Billion) and Forecast By Application, 2018-2030
9.6. South Korea
9.6.1. South Korea Mining Equipment Revenue (USD Billion) and Forecast By Product, 2018-2030
9.6.2. South Korea Mining Equipment Revenue (USD Billion) and Forecast By Application, 2018-2030
9.7. Rest of Asia-Pacific
9.7.1. Rest of Asia-Pacific Mining Equipment Revenue (USD Billion) and Forecast By Product, 2018-2030
9.7.2. Rest of Asia-Pacific Mining Equipment Revenue (USD Billion) and Forecast By Application, 2018-2030
9.8. Asia Pacific PEST Analysis
CHAPTER 10. Latin America Mining Equipment Market By Country
10.1. Latin America Mining Equipment Market Overview
10.2. Brazil
10.2.1. Brazil Mining Equipment Revenue (USD Billion) and Forecast By Product, 2018-2030
10.2.2. Brazil Mining Equipment Revenue (USD Billion) and Forecast By Application, 2018-2030
10.3. Mexico
10.3.1. Mexico Mining Equipment Revenue (USD Billion) and Forecast By Product, 2018-2030
10.3.2. Mexico Mining Equipment Revenue (USD Billion) and Forecast By Application, 2018-2030
10.4. Rest of Latin America
10.4.1. Rest of Latin America Mining Equipment Revenue (USD Billion) and Forecast By Product, 2018-2030
10.4.2. Rest of Latin America Mining Equipment Revenue (USD Billion) and Forecast By Application, 2018-2030
10.5. Latin America PEST Analysis
CHAPTER 11. Middle East & Africa Mining Equipment Market By Country
11.1. Middle East & Africa Mining Equipment Market Overview
11.2. GCC
11.2.1. GCC Mining Equipment Revenue (USD Billion) and Forecast By Product, 2018-2030
11.2.2. GCC Mining Equipment Revenue (USD Billion) and Forecast By Application, 2018-2030
11.3. South Africa
11.3.1. South Africa Mining Equipment Revenue (USD Billion) and Forecast By Product, 2018-2030
11.3.2. South Africa Mining Equipment Revenue (USD Billion) and Forecast By Application, 2018-2030
11.4. Rest of Middle East & Africa
11.4.1. Rest of Middle East & Africa Mining Equipment Revenue (USD Billion) and Forecast By Product, 2018-2030
11.4.2. Rest of Middle East & Africa Mining Equipment Revenue (USD Billion) and Forecast By Application, 2018-2030
11.5. Middle East & Africa PEST Analysis
CHAPTER 12. Player Analysis Of Mining Equipment Market
12.1. Mining Equipment Market Company Share Analysis
12.2. Competition Matrix
12.2.1. Competitive Benchmarking of key players by price, presence, market share, and R&D investment
12.2.2. New Product Launches and Product Enhancements
12.2.3. Mergers And Acquisition In Global Mining Equipment Market
12.2.4. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements
CHAPTER 13. Company Profile
13.1. Atlas Copco
13.1.1. Company Snapshot
13.1.2. Business Overview
13.1.3. Financial Overview
13.1.3.1. Revenue (USD Billion), 2021
13.1.3.2. Atlas Copco 2021 Mining Equipment Business Regional Distribution
13.1.4. Product/Service and Specification
13.1.5. Recent Developments & Business Strategy
13.1.6. Manufacturing Plant Footprint Analysis
13.2. Caterpillar
13.3. Doosan
13.4. Hitachi Construction Machinery
13.5. Komatsu
13.6. Liebherr
13.7. Sandvik
13.8. Sany
13.9. Terex
13.10. Volvo Construction Equipment