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Global Mining Equipment Market Segmentation By Type (Mineral processing equipment, Surface mining equipment, Underground mining equipment, mining drills & breakers, crushing, pulverizing, & screening equipment, Others), By Application (Metal Mining, Mineral Mining, Coal Mining), and Regional Analysis (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) and – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast (2022 – 2027)

Published: January, 2022
ID: 8976
Pages: 145

Mining Equipment Market Growth and Forecast (2022-2027):

The Global Mining Equipment Market size is estimated to increase at a CAGR of 4.6 percent, from $125,274.0 million in 2021 to $182,119 million in 2027.

Mining Equipment Market Scenario:

Mining is the extraction of coal, metals, minerals, water, oil, and other natural resources from the soil. Metal mining, mineral mining, and coal mining are the three applications that make up the market. Mineral processing equipment, surface mining equipment, underground mining equipment, mining drills & breakers, crushing, pulverizing, and screening equipment, and others are all featured in the study. Some of the mining equipment used in mining applications include excavators, haulers, articulated dump trucks, crawler dozers, and crawler excavators.

The high cost of mining equipment is a significant factor impeding the growth of the mining equipment industry. The expenses of these machines have risen because of technological breakthroughs, increasing fuel prices, modern parts, and new machinery. The escalating costs of updated mining machinery have provided a significant barrier for poor countries since they cannot afford such large upfront expenditures, resulting in reduced productivity and output. The equipment makers are providing these enterprises with flexible finance and credit options to help them run their operations successfully.

Recent Developments in the Mining Equipment Industry:

  • The 963K crawler loader will be replaced by the new Cat 963 crawler loader in September 2020. It's a multi-purpose machine that can dig, load, transport, and fill. It offers up to a 10% increase in fuel efficiency, productivity, and cab and controllability. The 963 fulfills Tier 4 Final/EU Stage V emission requirements in the United States. It has a power of 202 HP (151 kW) and a weight of 44,881 lbs (20 358 kg).
  • Sandvik unveiled its AutoMine Concept vehicle in September 2020, which is built on cutting-edge technology and has fully new sensing capabilities and artificial intelligence to improve mining operations. The AutoMine Concept sees and reacts to its surroundings and environment in three dimensions.

Mining Equipment Market Growth:

The Mining Equipment market growth is predicted to increase significantly over the forecast period, thanks to the increasing usage of electric machinery in underground mining and rising demand for metals and commodities, which account for a considerable portion of the Mining Equipment Market.




Market Size Available

2021 – 2027

Base Year


Forecast Period

2022 - 2027



Segments Covered

By Type, Application and Region.

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Sepro Mineral Systems Corp, Volvo Construction Equipment, Sandvik AB, Hitachi Construction Machinery Co. Ltd, Terex Corporation, BelAZ, Komatsu Ltd, Liebherr Group, Metso Oyj and Others.

Mining Equipment Market Drivers:

Noise, heat, and pollution are produced by diesel engines in deep mining machinery, which can exacerbate already uncomfortable working conditions. Appropriate ventilation is also necessary when using diesel-powered mining equipment. It solves the ventilation problem in underground mines. Because there is no exhaust and cheap operating expenses, using battery-operated or electric mining gear guarantees safer working conditions. It overcomes the problem of ventilation in subterranean mines. The usage of battery-powered subsurface loaders, for example, results in cleaner air, less noise, and less heat. To enable continued underground mining, other batteries can be replaced by high-energy-density batteries. In challenging subterranean conditions, the operator may operate in a quiet, ergonomically constructed cabin with simple and safe access to all service points, ensuring that the operator's safety is not jeopardized.

The market for mining equipment services will be fueled by the demand for effective machinery maintenance and heavy repair equipment services from third-party providers. Because equipment repair and maintenance services are very cost-effective, firms are turning to third parties to provide low-cost services that are dependable and increase productivity by prolonging the equipment's lifetime. Furthermore, the use of maintenance services such as predictive and preventive maintenance services will result in increased system uptime, asset management optimization, and equipment life warranty, all of which will boost Mining Equipment Market share.

Mining Equipment Market Restraints:

The utilization of modern mining machinery is dependent on mining sector investments, which are in turn dependent on the global economic situation. Old mining equipment is preferred by developing countries such as South Africa, Argentina, and Peru, to name a few, because it has a lengthy life cycle if properly maintained. Such machinery is sold from industrialized economies in North America and Europe to South America, the Middle East and Africa, and Southeast Asia at a cheaper cost than new mining technology. This is anticipated to reduce the purchase of new mining equipment, further decreases the global Mining Equipment Market size.

Mining Equipment Market Segmentation Analysis:

By Type:

  • Mineral processing equipment
  • Surface mining equipment
  • Underground mining equipment
  • Mining Dozers
  • Mining drills & breakers
  • Crushing, pulverizing, & screening equipment
  • Others

In 2020, surface mining equipment accounted for 36.2 percent of the global Mining Equipment Market. Drilling equipment, electric shovels, high wall miners, excavators, dumpers, motor graders, wheel dozers, and other equipment are used in surface mining. According to the Environmental Impact Assessment (EIA), the United States will manufacture 756 million short tons of coal in 2019. Surface mines accounted for 63 percent of total coal output and 63 percent of the total number of mines in the United States. Six of the top ten coal-producing mines in the United States are located in Wyoming, and they are all surface mines. Furthermore, the west coal region's surface mines generate 92 percent of total coal. In 2020, surface mining equipment accounted for 36.2 percent of the mining equipment services market. Drilling equipment, electric shovels, high wall miners, excavators, dumpers, motor graders, wheel dozers, and other equipment are used in surface mining.

By Application:

  • Metal mining
  • Mineral Mining
  • Coal mining

Due to increased demand for services such as metallurgy and process design, analytical services, and so on, metal mining is the fastest expanding category in the Mining Equipment Market, with a CAGR of 4.3 percent expected from 2021 to 2026. Furthermore, the expansion of the residential and non-residential building industries in Southeast Asia and other emerging nations is expected to boost demand for aluminum and copper goods, propelling the market forward. Furthermore, metal mine production in the United States was forecasted to reach $28.1 billion in 2019, up almost $500 million from 2018 and expected to rise in the projection future. Gold (32%), copper (28%), iron ore (19%), and zinc (17%) were the major contributions to the total value of metal mining output in 2019. (7 percent). India's steel mining is expected to reach 97.5 million tons in 2019, according to the World Steel Association. Metals demand is predicted to rise in various nations, propelling market development throughout the forecast period.

Geographical Segmentation Analysis:

  • North America - the United States and Canada
  • Europe - United Kingdom, Spain, Germany, Italy, and France
  • The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
  • Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
  • The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

Mining Equipment Market Regional Analysis:

Over the last six years, India and China have emerged as important mining centers, with Asia Pacific mining equipment market share continuing to dominate the Mining Equipment industry. The country's need for mining equipment will be sustained as CMPDI identifies new mining locations and works to boost coal output. The Queensland government's approval of a 60-million-ton coal open cut mine near the Great Barrier Reef in the Galilee Basin is projected to drive up demand for mining equipment in Australia. Furthermore, global mining companies that are increasing their foothold in Asian markets through China are expected to continue doing so through 2021, propelling the market in the nation.

South African gold and diamond mining have decreased dramatically in the last year. Gold mining has decreased by 24%, while diamond mining has decreased by 30%. On the plus side, coal output climbed by over 8%, ensuring that demand for equipment from the country remains consistent, though not high. Swaziland, Tanzania, Mozambique, and Botswana all indicated signs of increased coal output, boosting demand for mining equipment in Africa and the Middle East.

Because of the widespread use of this equipment, North America is expected to grow at a respectable rate. Furthermore, the mining industry is expected to expand significantly while maintaining the consistency of mining equipment needs.

Key Players in the Market:

Major Key Players in the Global Mining Equipment Market are

1. Introduction                         

          1.1 Market Definition                

          1.2 Scope of the report             

          1.3 Study Assumptions             

          1.4 Base Currency, Base Year and Forecast Periods            

2. Research Methodology                    

          2.1 Analysis Design         

          2.2 Research Phases                 

                   2.2.1 Secondary Research

                   2.2.2 Primary Research    

                   2.2.3 Data Modelling       

                   2.2.4 Expert Validation    

          2.3 Study Timeline          

3. Report Overview                   

          3.1 Executive Summary             

          3.2 Key Inferencees         

4. Market Dynamics                            

          4.1 Impact Analysis         

                   4.1.1 Drivers         

                   4.1.2 Restaints     

                   4.1.3 Opportunities         

          4.2 Regulatory Environment                

          4.3 Technology Timeline & Recent Trends               

5. Competitor Benchmarking Analysis                     

          5.1 Key Player Benchmarking               

                   5.1.1 Market share analysis       

                   5.1.2 Products/Service    

                   5.1.3 Regional Presence   

          5.2 Mergers & Acquistion Landscape             

          5.3 Joint Ventures & Collaborations               

6. Market Segmentation                      

          6.1 Mining Equipment Market , By Type         

                   6.1.1 Mineral processing equipment    

                   6.1.2 Surface mining equipment

                   6.1.3 Underground mining equipment  

                   6.1.4 mining drills & breakers    

                   6.1.5 crushing, pulverizing, & screening equipment  

                   6.1.6 Others

                   6.1.7 Market Size Estimations & Forecasts (2022-2027)   

                   6.1.8 Y-o-Y Growth Rate Analysis       

                   6.1.9 Market Attractiveness Index       

          6.2 Mining Equipment Market , By Application          

                   6.2.1 Metal Mining

                   6.2.2 Mineral Mining       

                   6.2.3 Coal Mining  

                   6.2.4 Market Size Estimations & Forecasts (2022-2027)   

                   6.2.5 Y-o-Y Growth Rate Analysis       

                   6.2.6 Market Attractiveness Index       

7. Geographical Landscape                            

          7.1 Global Mining Equipment Market , by Region               

          7.2 North America - Market Analysis (2022-2027)           

                   7.2.1 By Country   



                   7.2.2 By Type       

                   7.2.3 By Application        

          7.3 Europe            

                   7.3.1 By Country   






                    Rest of Europe

                   7.3.2 By Type       

                   7.3.3 By Application        

          7.4 Asia Pacific               

                   7.4.1 By Country   




                    South Korea

                    South East Asia

                    Australia & NZ

                    Rest of Asia-Pacific

                   7.4.2 By Type       

                   7.4.3 By Application        

          7.5 Latin America            

                   7.5.1 By Country   




                    Rest of Latin America

                   7.5.2 By Type       

                   7.5.3 By Application        

          7.6 Middle East and Africa         

                   7.6.1 By Country   

                    Middle East


                   7.6.2 By Type       

                   7.6.3 By Application        

8. Key Player Analysis                         

          8.1 BelAZ              

                   8.1.1 Business Description        

                   8.1.2 Products/Service    

                   8.1.3 Financials     

                   8.1.4 SWOT Analysis       

                   8.1.5 Recent Developments       

                   8.1.6 Analyst Overview    

          8.2 Komatsu Ltd.            

          8.3 Liebherr Group          

          8.4 Guangxi LiuGong Machinery Co., Ltd                 

          8.5 Metso Oyj                 

          8.6 Sepro Mineral Systems Corp.         

          8.7 Volvo Construction Equipment                

          8.8 Sandvik AB                

          8.9 Hitachi Construction Machinery Co. Ltd             

          8.10 Terex Corporation             

9. Market Outlook & Investment Opportunities                            


          List of Tables                  

          List of Figures                 

  1. Global Mining Equipment  Market By Region, From 2022-2027 ( USD Billion )
  2. Global Mining Equipment  Market By Type, From 2022-2027 ( USD Billion )
  3. Global Mineral processing equipment Market By Region, From 2022-2027 ( USD Billion )
  4. Global Surface mining equipment Market By Region, From 2022-2027 ( USD Billion )
  5. Global Underground mining equipment Market By Region, From 2022-2027 ( USD Billion )
  6. Global mining drills & breakers Market By Region, From 2022-2027 ( USD Billion )
  7. Global crushing, pulverizing, & screening equipment Market By Region, From 2022-2027 ( USD Billion )
  8. Global Others Market By Region, From 2022-2027 ( USD Billion )
  9. Global Mining Equipment  Market By Application, From 2022-2027 ( USD Billion )
  10. Global Metal Mining Market By Region, From 2022-2027 ( USD Billion )
  11. Global Mineral Mining Market By Region, From 2022-2027 ( USD Billion )
  12. Global Coal Mining Market By Region, From 2022-2027 ( USD Billion )

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What can be the total Mining Equipment market value?

The global Mining Equipment market was estimated at USD $125,274.0 million in 2022 and is going to reach USD $182,119 million by 2027.

Name any three Mining Equipment market key players?

Liebherr Group, Metso Oyj, and Sandvik AB are the three Mining Equipment key players.

What is the major effecting factor in the Mining Equipment market?

The Mining Equipment market is predicted to increase significantly over the forecast period, thanks to the increasing usage of electric machinery in underground mining and rising demand for metals and commodities, which account for a considerable portion of the market.

What is the market's growth rate for Mining Equipment?

From 2022 to 2027, the worldwide Mining Equipment market is predicted to increase at a compounded yearly growth rate of 4.6%.




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