Mining Equipment Market Size, Share & Trends Analysis Report, By Machinery category (Crushing, Pulverizing, Screening Machinery, Mineral Processing Machinery, Surface Mining Machinery, Underground Mining Machinery), By Application (Metal, Mineral, Coal), Power Output, Propulsion, Type, Battery Chemistry, Mining Category, By Region, Forecasts, 2025-2034

Report Id: 1728 Pages: 180 Last Updated: 24 April 2025 Format: PDF / PPT / Excel / Power BI
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Segmentation of Mining Equipment Market-

Mining Equipment Market- By Machinery Category

  • Crushing, Pulverizing, Screening Machinery
  • Mineral Processing Machinery
  • Surface Mining Machinery
  • Underground Mining Machinery
    • Drills
    • Electric Shovels
    • Hydraulic Excavators
    • Mining Dozers
    • Mining Trucks
    • Wheeled Loaders

 mining equipment

Mining Equipment Market- By Application

  • Metal
  • Mineral
  • Coal

Mining Equipment Market- By Power Output

  • < 500 HP
  • 500 – 2,000 HP
  • 2,000 HP

Mining Equipment Market- By Propulsion

  • Diesel
  • CNG/LNG/RNG

Mining Equipment Market- By Electric & Hybrid Mining Machining Market, By Type

  • Electric & Hybrid Mining Trucks
  • Electric & Hybrid Load Haul Dump Loaders (LHD)

Mining Equipment Market- By Electric & Hybrid Mining Machining Market, By Battery Chemistry

  • Lithium Iron Phosphate Battery (LFP)
  • Nickel Manganese Cobalt Battery (NMC)
  • Others

Mining Equipment Market- By Mining Category

  • Surface Mining
  • Underground Mining

By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa

Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Mining Equipment Market Snapshot

Chapter 4. Global Mining Equipment Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: by Machinery Category Estimates & Trend Analysis
5.1. by Machinery Category & Market Share, 2024 & 2034
5.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Machinery Category:
5.2.1. Crushing, Pulverizing, Screening Machinery
5.2.2. Mineral Processing Machinery
5.2.3. Surface Mining Machinery
5.2.4. Underground Mining Machinery
5.2.4.1. Drills
5.2.4.2. Electric Shovels
5.2.4.3. Hydraulic Excavators
5.2.4.4. Mining Dozers
5.2.4.5. Mining Trucks
5.2.4.6. Wheeled Loaders

Chapter 6. Market Segmentation 2: By Application Estimates & Trend Analysis
6.1. by Application & Market Share, 2024 & 2034
6.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Application:
6.2.1. Metal
6.2.2. Mineral
6.2.3. Coal

Chapter 7. Market Segmentation 3: By Power Output Estimates & Trend Analysis
7.1. by Power Output & Market Share, 2024 & 2034
7.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Power Output:
7.2.1. < 500 HP
7.2.2. 500 – 2,000 HP
7.2.3. 2,000 HP

Chapter 8. Market Segmentation 4: By Propulsion Estimates & Trend Analysis
8.1. by Propulsion & Market Share, 2024 & 2034
8.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Propulsion:
8.2.1. Diesel
8.2.2. CNG/LNG/RNG

Chapter 9. Market Segmentation 5: By Type Estimates & Trend Analysis
9.1. by Type & Market Share, 2024 & 2034
9.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Type:
9.2.1. Electric & Hybrid Mining Trucks
9.2.2. Electric & Hybrid Load Haul Dump Loaders (LHD)

Chapter 10. Market Segmentation 6: By Battery Chemistry Estimates & Trend Analysis
10.1. by Battery Chemistry & Market Share, 2024 & 2034
10.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Battery Chemistry:
10.2.1. Lithium Iron Phosphate Battery (LFP)
10.2.2. Nickel Manganese Cobalt Battery (NMC)
10.2.3. Others

Chapter 11. Market Segmentation 7: by Mining Category Estimates & Trend Analysis
11.1. by Mining Category & Market Share, 2024 & 2034
11.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Mining Category:
11.2.1. Surface Mining
11.2.2. Underground Mining

Chapter 12. Mining Equipment Market Segmentation 3: Regional Estimates & Trend Analysis

12.1. North America

12.1.1. North America Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Machinery Category, 2021-2034
12.1.2. North America Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Application, 2021-2034
12.1.3. North America Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Power Output, 2021-2034
12.1.4. North America Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Propulsion, 2021-2034
12.1.5. North America Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Type, 2021-2034
12.1.6. North America Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Battery Chemistry, 2021-2034
12.1.7. North America Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Mining Category, 2021-2034
12.1.8. North America Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034

12.2. Europe

12.2.1. Europe Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Machinery Category, 2021-2034
12.2.2. Europe Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Application, 2021-2034
12.2.3. Europe Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Power Output, 2021-2034
12.2.4. Europe Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Propulsion, 2021-2034
12.2.5. Europe Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Type, 2021-2034
12.2.6. Europe Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Battery Chemistry, 2021-2034
12.2.7. Europe Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Mining Category, 2021-2034
12.2.8. Europe Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034

12.3. Asia Pacific

12.3.1. Asia Pacific Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Machinery Category, 2021-2034
12.3.2. Asia Pacific Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Application, 2021-2034
12.3.3. Asia Pacific Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Power Output, 2021-2034
12.3.4. Asia Pacific Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Propulsion, 2021-2034
12.3.5. Asia Pacific Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Type, 2021-2034
12.3.6. Asia Pacific Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Battery Chemistry, 2021-2034
12.3.7. Asia Pacific Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Mining Category, 2021-2034
12.3.8. Asia Pacific Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034

12.4. Latin America

12.4.1. Latin America Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Machinery Category, 2021-2034
12.4.2. Latin America Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Application, 2021-2034
12.4.3. Latin America Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Power Output, 2021-2034
12.4.4. Latin America Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Propulsion, 2021-2034
12.4.5. Latin America Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Type, 2021-2034
12.4.6. Latin America Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Battery Chemistry, 2021-2034
12.4.7. Latin America Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Mining Category, 2021-2034
12.4.8. Latin America Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034

12.5. Middle East & Africa

12.5.1. Middle East & Africa Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Machinery Category, 2021-2034
12.5.2. Middle East & Africa Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Application, 2021-2034
12.5.3. Middle East & Africa Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Power Output, 2021-2034
12.5.4. Middle East & Africa Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Propulsion, 2021-2034
12.5.5. Middle East & Africa Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Type, 2021-2034
12.5.6. Middle East & Africa Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Battery Chemistry, 2021-2034
12.5.7. Middle East & Africa Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by Mining Category, 2021-2034
12.5.8. Middle East & Africa Mining Equipment Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034


Chapter 13. Competitive Landscape
13.1. Major Mergers and Acquisitions/Strategic Alliances
13.2. Company Profiles

13.2.1. Caterpillar Inc
13.2.2. Komatsu Ltd
13.2.3. Sandvik Ab
13.2.4. Epiroc Ab
13.2.5. Liebherr
13.2.6. Hitachi Construction Machinery Co., Ltd.
13.2.7. Doosan Enerbility
13.2.8. Ab Volvo
13.2.9. Sany Group
13.2.10. Liugong Machinery Co., Ltd.
13.2.11. Kobelco Construction Machinery Co., Ltd
13.2.12. Sumitomo Heavy Industries, Ltd.
13.2.13. Xuzhou Construction Machinery Group
13.2.14. Hyundai Construction Equipment Co., Ltd.
13.2.15. Terex Corporation
13.2.16. Bharat Earth Movers Limited
13.2.17. ASTEC Industries, Inc.
13.2.18. Wirtgen Group
13.2.19. Mine Master Ltd.
13.2.20. Fiori Group S.P.A
13.2.21. Bell Equipment
13.2.22. Aard Mining Equipment
13.2.23. Other Prominent Players

Research Design and Approach

This study employed a multi-step, mixed-method research approach that integrates:

  • Secondary research
  • Primary research
  • Data triangulation
  • Hybrid top-down and bottom-up modelling
  • Forecasting and scenario analysis

This approach ensures a balanced and validated understanding of both macro- and micro-level market factors influencing the market.

Secondary Research

Secondary research for this study involved the collection, review, and analysis of publicly available and paid data sources to build the initial fact base, understand historical market behaviour, identify data gaps, and refine the hypotheses for primary research.

Sources Consulted

Secondary data for the market study was gathered from multiple credible sources, including:

  • Government databases, regulatory bodies, and public institutions
  • International organizations (WHO, OECD, IMF, World Bank, etc.)
  • Commercial and paid databases
  • Industry associations, trade publications, and technical journals
  • Company annual reports, investor presentations, press releases, and SEC filings
  • Academic research papers, patents, and scientific literature
  • Previous market research publications and syndicated reports

These sources were used to compile historical data, market volumes/prices, industry trends, technological developments, and competitive insights.

Secondary Research

Primary Research

Primary research was conducted to validate secondary data, understand real-time market dynamics, capture price points and adoption trends, and verify the assumptions used in the market modelling.

Stakeholders Interviewed

Primary interviews for this study involved:

  • Manufacturers and suppliers in the market value chain
  • Distributors, channel partners, and integrators
  • End-users / customers (e.g., hospitals, labs, enterprises, consumers, etc., depending on the market)
  • Industry experts, technology specialists, consultants, and regulatory professionals
  • Senior executives (CEOs, CTOs, VPs, Directors) and product managers

Interview Process

Interviews were conducted via:

  • Structured and semi-structured questionnaires
  • Telephonic and video interactions
  • Email correspondences
  • Expert consultation sessions

Primary insights were incorporated into demand modelling, pricing analysis, technology evaluation, and market share estimation.

Data Processing, Normalization, and Validation

All collected data were processed and normalized to ensure consistency and comparability across regions and time frames.

The data validation process included:

  • Standardization of units (currency conversions, volume units, inflation adjustments)
  • Cross-verification of data points across multiple secondary sources
  • Normalization of inconsistent datasets
  • Identification and resolution of data gaps
  • Outlier detection and removal through algorithmic and manual checks
  • Plausibility and coherence checks across segments and geographies

This ensured that the dataset used for modelling was clean, robust, and reliable.

Market Size Estimation and Data Triangulation

Bottom-Up Approach

The bottom-up approach involved aggregating segment-level data, such as:

  • Company revenues
  • Product-level sales
  • Installed base/usage volumes
  • Adoption and penetration rates
  • Pricing analysis

This method was primarily used when detailed micro-level market data were available.

Bottom Up Approach

Top-Down Approach

The top-down approach used macro-level indicators:

  • Parent market benchmarks
  • Global/regional industry trends
  • Economic indicators (GDP, demographics, spending patterns)
  • Penetration and usage ratios

This approach was used for segments where granular data were limited or inconsistent.

Hybrid Triangulation Approach

To ensure accuracy, a triangulated hybrid model was used. This included:

  • Reconciling top-down and bottom-up estimates
  • Cross-checking revenues, volumes, and pricing assumptions
  • Incorporating expert insights to validate segment splits and adoption rates

This multi-angle validation yielded the final market size.

Forecasting Framework and Scenario Modelling

Market forecasts were developed using a combination of time-series modelling, adoption curve analysis, and driver-based forecasting tools.

Forecasting Methods

  • Time-series modelling
  • S-curve and diffusion models (for emerging technologies)
  • Driver-based forecasting (GDP, disposable income, adoption rates, regulatory changes)
  • Price elasticity models
  • Market maturity and lifecycle-based projections

Scenario Analysis

Given inherent uncertainties, three scenarios were constructed:

  • Base-Case Scenario: Expected trajectory under current conditions
  • Optimistic Scenario: High adoption, favourable regulation, strong economic tailwinds
  • Conservative Scenario: Slow adoption, regulatory delays, economic constraints

Sensitivity testing was conducted on key variables, including pricing, demand elasticity, and regional adoption.

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Frequently Asked Questions

Mining Equipment Market Size is valued at USD 146.76 billion in 2024 and is predicted to reach USD 238.72 billion by the year 2034

Mining Equipment Market expected to grow at a 5.0% CAGR during the forecast period for 2025-2034

Medtronic pl (Ireland), Boston Scientific Corporation (US), Abbott Laboratories, Inc. (US), LivaNova PLC (UK), Cochlear Ltd. (Australia), Axonics Modu

Mining equipment market is segmented by machinery category, application, power output, propulsion, electric & hybrid mining machining market (by type,

Asia Pacific region is leading the Mining equipment market.

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