Mining Equipment And Machinery Market

Global Mining equipment and machinery Market

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  • 2020-07-23
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Author:

Raksha Sharma

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Editor:

Rucha Phatak

Mining equipment and machinery Market Outlook 2031:

The global mining equipment and machinery market size was valued at USD 114.24 Billion in 2022 and is projected to reach USD 130.25 Billion by 2031, expanding at a CAGR of 5.4% during the forecast period 2023 - 2031.

Mining equipment and machinery are used to extract geological materials such as copper, nickel, cobalt, gold, silver, lead, zinc, iron, diamond, and platinum, from the earth. The equipment and machines in the mining industry perform digging, drilling, and loading activities. Other activities include friction, smelting, refining, and others.

Mining equipment and machinery Market Outlook

Mining equipment and machinery include mining drills & tools, earthmovers, crushing machinery & equipment, and feeding & transportation equipment. Mining equipment and machinery have evolved with the aid of computerized remote-control equipment, high-tech operations, and complex machinery, which simplifies the extraction of metals and minerals from the ground process.

Mining activity can vary depending on the type of metals and minerals to be extracted. Currently, two types of mining processes are majorly utilized, that is, surface mining and underground mining, with each mining process there are different mining equipment and machinery available.


Manufacturers of mining equipment and machinery provide better approaches and variety of features in the equipment to increase production and boost the performance of mining operations. Smart solutions provide features such as real-time control & monitoring, optimize production management, and enhance the approach to decision making.

Product development has led players to integrate these advanced solutions into their products to increase productivity and reliability in the processes of mineral extraction. For example, Wipro Limited's smart extraction technologies includes advanced analytics, short interval monitoring, visibility of mobile assets, remote operation centers, automated job management, and a connectivity platform. Customers are able to optimize the return on investment (ROI) with the introduction of emerging technologies in their mining equipment. These factors are expected to facilitate market expansion.

Mining equipment and machinery Market Dynamics

The market is driven by factors such as growing consumption of natural resources, minerals such as copper, platinum, iron, gold, and silver are widely used minerals in several applications. Moreover, gold and silver are precious metals used for manufacturing products such as jewelry, Olympics medals, and currency. Furthermore, cobalt, bauxite, lithium, zinc, and potash are used for various applications.

Increasing consumption and use of these minerals is expected to drive the growth of market. Rising demand for metals and commodities has led to rise the need for mining activities, this is expected to boost the demand for mining equipment and machineries during the forecast period. Conversely, Implementation of strict government regulations and tariffs, rising prices of raw materials, growing demand for used equipment and local/unorganized players, and environmental and human rights concerns are expected to restraint the mining equipment and machinery market growth.

Whereas, rising government initiatives for mining is expected to create lucrative opportunities in the market. Recent market trends include automation, digital mining, use of IoT and AI for smart and effective operation management in the mining industry are key trends in the market.

Scope of Mining equipment and machinery Market Report 

The report on the global premium messaging market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes Details
Report Title Mining equipment and machinery Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year 2022
Historic Data 2016 – 2021
Forecast Period 2023–2031
Segmentation By Product Category (Crushing, Pulverizing, and Screening Equipment, Drills & Breakers, Mineral Processing Equipment, Surface Mining Equipment
, Underground Mining Equipment), By Propulsion (Diesel, Gasoline, and CNG/ LNG/ Others), and By Application(Coal, Mineral, and Metal)
Regional Scope Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
Key Players Covered in the Report Caterpillar Inc., Komatsu Ltd., Hitachi, Ltd., AB Volvo, and Liebherr-International AG.


Mining equipment and machinery Market Segmental Insights

On the basis of product category, the global mining equipment and machinery market is divided into crushing, pulverizing, and screening equipment, drills & breakers, mineral processing equipment, surface mining equipment, and underground mining equipment.

The surface mining equipment segment is expected to holds a major share of the market, due to the high demand for these equipment and machinery, for the extraction of minerals such as non-metallic ore, metallic ore, and coal.


The underground mining equipment segment is estimated to expand at a CAGR of around 8.1 % during the forecast period. The demand for underground mining equipment is rising rapidly due to majority of miners shift from a vacuum method of mining to underground mining.

The sector is moving toward limiting human involvement in underground mining owing to growing safety concerns; therefore, extractors use automated underground mining equipment during the forecast period.

Mining equipment and machinery Market Product Category

Based on propulsion the global mining equipment and machinery market is classified into Diesel, Gasoline, CNG/ LNG/Others. The Diesel segment is expected to hold higher market share, as it is widely used in mining equipment and machinery due to its high density that makes diesel a preferred propulsion for this equipment.

However, the CNG/LNG is considered as an alternative for the diesel and gasoline for mining equipment and machinery, as these are highly efficient and effective. The gasoline segment constitutes of small share of the market due to its low efficiency and high cost, which leads to low consumption of the gasoline.

In terms of application the market is segmented into coal, mineral, and metal. The metal segment accounts for a major share of the market due to the rising demand for precious metals such as diamond, silver, and gold and increasing hauling of metal deposits.

Growing need for mineral mining due to rising demand for the extraction of stones, rocks, and other materials used for the construction of buildings and in the generation of low-cost, reliable electricity is expected to increase the demand of mining equipment and machinery.

Factors such as favorable government legislation, growth of mining-related end-use industries, and volatility in commodity prices are expected to hamper the demand for mining equipment.

Mining equipment and machinery Market Application

Regional Outlook

In terms of region the market has been fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific accounts for a major share of the market and is expected to retain its lead position during the forecast period. India, followed by Australia, accounted for a key share of the market, in terms of revenue due to relentless expenditure and rising infrastructure projects.

The market in India offers a number of opportunities to market players, as there is significant scope for exploring bauxite, iron ore, and coal. Moreover, the country's booming real estate sector is expected to increase the demand for metal mining equipment and machinery, thus contributing to the regional growth in the market.

Mining equipment and machinery Market Region

Key Benefits for Industry Participants & Stakeholders

  • In-depth Analysis of the Global Mining equipment and machinery Market
  • Historical, Current and Projected Market Size in terms of Value and Volume
  • Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
  • Industry Drivers, Restraints and Opportunities Covered in the Study
  • Recent Industry Trends and Developments
  • Competitive Landscape & Strategies of Key Players
  • Neutral Perspective on Global Mining equipment and machinery Market Performance

Segments

By Product Category

  • Crushing, Pulverizing, and Screening Equipment
  • Drills & Breakers
  • Mineral Processing Equipment
  • Surface Mining Equipment
  • Underground Mining Equipment

By Propulsion

  • Diesel
  • Gasoline
  • CNG/ LNG/ Others

By Application

  • Coal
  • Mineral
  • Metal

By Region

  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • France
    • Italy
    • UK
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Australia
    • Rest of Asia Pacific
  • Middle East & Africa (MEA)
    • Saudi Arabia
    • South Africa
    • UAE
    • Rest of MEA

Key Market Players Profiled in the Report

  • AB Volvo
  • Caterpillar Inc.
  • Deere & Company
  • Doosan Corporation
  • Hitachi, Ltd.
  • Komatsu Ltd.
  • Liebherr-International AG
  • Sandvik AB
  • SANY GROUP
  • Terex Corporation
  • XCMG Group
  • Zoomlion Heavy Industry Science and Technology Co., Ltd.

Competitive Landscape

  • Top players in the market include Caterpillar Inc., Komatsu Ltd., Hitachi, Ltd., AB Volvo, and Liebherr-International AG. These companies are considered as key manufacturers of mining equipment and machinery based on their revenue, research development (R&D) activities, product offerings, regional presence, and supply chain management system.
  • The players are adopting key strategies such as acquisition, collaborations, and geographical expansion where potential opportunity for the mining equipment and machinery extraction is added in the company’s capacity.
  • For instance, in April 2020, AB Volvo and Daimler Truck AG entered into a preliminary non-binding agreement for the establishment of a joint venture. The core aim is to develop, manufacture, and sell fuel cell systems for heavy-duty vehicle applications and other use cases.
  • In June 2020, Caterpillar Inc. announced the acquisition of San Francisco-based robot and autonomy technology solutions company, Marble Robot, Inc. the company intends to leverage the high expertise of its new team for providing scalable solutions that meet the evolving needs of constructions, quarry, industrials, and waste industries.

Mining equipment and machinery Market Key Players

Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Mining Equipment and Machinery Market Overview
   4.1 Introduction
      4.1.1 Market Taxonomy
      4.1.2 Market Definition
      4.1.3 Macro-Economic Factors Impacting the Market Growth
   4.2 Mining Equipment and Machinery Market Dynamics
      4.2.1 Market Drivers
      4.2.2 Market Restraints
      4.2.3 Market Opportunity
   4.3 Mining Equipment and Machinery Market - Supply Chain Analysis
      4.3.1 List of Key Suppliers
      4.3.2 List of Key Distributors
      4.3.3 List of Key Consumers
   4.4 Key Forces Shaping the Mining Equipment and Machinery Market
      4.4.1 Bargaining Power of Suppliers
      4.4.2 Bargaining Power of Buyers
      4.4.3 Threat of Substitution
      4.4.4 Threat of New Entrants
      4.4.5 Competitive Rivalry
   4.5 Global Mining Equipment and Machinery Market Size & Forecast, 2017-2027
      4.5.1 Mining Equipment and Machinery Market Size and Y-o-Y Growth
      4.5.2 Mining Equipment and Machinery Market Absolute $ Opportunity
Chapter 5 Global Mining Equipment and Machinery Market Analysis and Forecast By Product Category
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities By Product Category
      5.1.2 Basis Point Share (BPS) Analysis By Product Category
      5.1.3 Absolute $ Opportunity Assessment By Product Category
   5.2 Mining Equipment and Machinery Market Size Forecast By Product Category
      5.2.1 Crushing, Pulverizing, and Screening Equipment
      5.2.2 Drills & Breakers
      5.2.3 Mineral Processing Equipment
      5.2.4 Surface Mining Equipment
      5.2.5 Underground Mining Equipment
   5.3 Market Attractiveness Analysis By Product Category
Chapter 6 Global Mining Equipment and Machinery Market Analysis and Forecast By Propulsion
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities By Propulsion
      6.1.2 Basis Point Share (BPS) Analysis By Propulsion
      6.1.3 Absolute $ Opportunity Assessment By Propulsion
   6.2 Mining Equipment and Machinery Market Size Forecast By Propulsion
      6.2.1 Diesel
      6.2.2 Gasoline
      6.2.3 CNG/ LNG/ Others
   6.3 Market Attractiveness Analysis By Propulsion
Chapter 7 Global Mining Equipment and Machinery Market Analysis and Forecast By Application
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities By Application
      7.1.2 Basis Point Share (BPS) Analysis By Application
      7.1.3 Absolute $ Opportunity Assessment By Application
   7.2 Mining Equipment and Machinery Market Size Forecast By Application
      7.2.1 Coal
      7.2.2 Mineral
      7.2.3 Metal
   7.3 Market Attractiveness Analysis By Application
Chapter 8 Global Mining Equipment and Machinery Market Analysis and Forecast by Region
   8.1 Introduction
      8.1.1 Key Market Trends & Growth Opportunities by Region
      8.1.2 Basis Point Share (BPS) Analysis by Region
      8.1.3 Absolute $ Opportunity Assessment by Region
   8.2 Mining Equipment and Machinery Market Size Forecast by Region
      8.2.1 North America
      8.2.2 Europe
      8.2.3 Asia Pacific
      8.2.4 Latin America
      8.2.5 Middle East & Africa (MEA)
   8.3 Market Attractiveness Analysis by Region
Chapter 9 Coronavirus Disease (COVID-19) Impact
   9.1 Introduction
   9.2 Current & Future Impact Analysis
   9.3 Economic Impact Analysis
   9.4 Government Policies
   9.5 Investment Scenario
Chapter 10 North America Mining Equipment and Machinery Analysis and Forecast
   10.1 Introduction
   10.2 North America Mining Equipment and Machinery Market Size Forecast by Country
      10.2.1 U.S.
      10.2.2 Canada
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 North America Mining Equipment and Machinery Market Size Forecast By Product Category
      10.6.1 Crushing, Pulverizing, and Screening Equipment

      10.6.2 Drills & Breakers
      10.6.3 Mineral Processing Equipment
      10.6.4 Surface Mining Equipment
      10.6.5 Underground Mining Equipment
   10.7 Basis Point Share (BPS) Analysis By Product Category
   10.8 Absolute $ Opportunity Assessment By Product Category
   10.9 Market Attractiveness Analysis By Product Category
   10.10 North America Mining Equipment and Machinery Market Size Forecast By Propulsion
      10.10.1 Diesel
      10.10.2 Gasoline
      10.10.3 CNG/ LNG/ Others
   10.11 Basis Point Share (BPS) Analysis By Propulsion
   10.12 Absolute $ Opportunity Assessment By Propulsion
   10.13 Market Attractiveness Analysis By Propulsion
   10.14 North America Mining Equipment and Machinery Market Size Forecast By Application
      10.14.1 Coal
      10.14.2 Mineral
      10.14.3 Metal
   10.15 Basis Point Share (BPS) Analysis By Application 
   10.16 Absolute $ Opportunity Assessment By Application 
   10.17 Market Attractiveness Analysis By Application
Chapter 11 Europe Mining Equipment and Machinery Analysis and Forecast
   11.1 Introduction
   11.2 Europe Mining Equipment and Machinery Market Size Forecast by Country
      11.2.1 Germany
      11.2.2 France
      11.2.3 Italy
      11.2.4 U.K.
      11.2.5 Spain
      11.2.6 Russia
      11.2.7 Rest of Europe
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Europe Mining Equipment and Machinery Market Size Forecast By Product Category
      11.6.1 Crushing, Pulverizing, and Screening Equipment
      11.6.2 Drills & Breakers
      11.6.3 Mineral Processing Equipment
      11.6.4 Surface Mining Equipment
      11.6.5 Underground Mining Equipment
   11.7 Basis Point Share (BPS) Analysis By Product Category
   11.8 Absolute $ Opportunity Assessment By Product Category
   11.9 Market Attractiveness Analysis By Product Category
   11.10 Europe Mining Equipment and Machinery Market Size Forecast By Propulsion
      11.10.1 Diesel
      11.10.2 Gasoline
      11.10.3 CNG/ LNG/ Others
   11.11 Basis Point Share (BPS) Analysis By Propulsion
   11.12 Absolute $ Opportunity Assessment By Propulsion
   11.13 Market Attractiveness Analysis By Propulsion
   11.14 Europe Mining Equipment and Machinery Market Size Forecast By Application
      11.14.1 Coal
      11.14.2 Mineral
      11.14.3 Metal
   11.15 Basis Point Share (BPS) Analysis By Application 
   11.16 Absolute $ Opportunity Assessment By Application 
   11.17 Market Attractiveness Analysis By Application
Chapter 12 Asia Pacific Mining Equipment and Machinery Analysis and Forecast
   12.1 Introduction
   12.2 Asia Pacific Mining Equipment and Machinery Market Size Forecast by Country
      12.2.1 China
      12.2.2 Japan
      12.2.3 South Korea
      12.2.4 India
      12.2.5 Australia
      12.2.6 South East Asia (SEA)
      12.2.7 Rest of Asia Pacific (APAC)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Asia Pacific Mining Equipment and Machinery Market Size Forecast By Product Category
      12.6.1 Crushing, Pulverizing, and Screening Equipment
      12.6.2 Drills & Breakers
      12.6.3 Mineral Processing Equipment
      12.6.4 Surface Mining Equipment
      12.6.5 Underground Mining Equipment
   12.7 Basis Point Share (BPS) Analysis By Product Category
   12.8 Absolute $ Opportunity Assessment By Product Category
   12.9 Market Attractiveness Analysis By Product Category
   12.10 Asia Pacific Mining Equipment and Machinery Market Size Forecast By Propulsion
      12.10.1 Diesel
      12.10.2 Gasoline
      12.10.3 CNG/ LNG/ Others
   12.11 Basis Point Share (BPS) Analysis By Propulsion
   12.12 Absolute $ Opportunity Assessment By Propulsion
   12.13 Market Attractiveness Analysis By Propulsion
   12.14 Asia Pacific Mining Equipment and Machinery Market Size Forecast By Application
      12.14.1 Coal
      12.14.2 Mineral
      12.14.3 Metal
   12.15 Basis Point Share (BPS) Analysis By Application 
   12.16 Absolute $ Opportunity Assessment By Application 
   12.17 Market Attractiveness Analysis By Application
Chapter 13 Latin America Mining Equipment and Machinery Analysis and Forecast
   13.1 Introduction
   13.2 Latin America Mining Equipment and Machinery Market Size Forecast by Country
      13.2.1 Brazil
      13.2.2 Mexico
      13.2.3 Rest of Latin America (LATAM)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Latin America Mining Equipment and Machinery Market Size Forecast By Product Category
      13.6.1 Crushing, Pulverizing, and Screening Equipment

      13.6.2 Drills & Breakers
      13.6.3 Mineral Processing Equipment
      13.6.4 Surface Mining Equipment
      13.6.5 Underground Mining Equipment
   13.7 Basis Point Share (BPS) Analysis By Product Category
   13.8 Absolute $ Opportunity Assessment By Product Category
   13.9 Market Attractiveness Analysis By Product Category
   13.10 Latin America Mining Equipment and Machinery Market Size Forecast By Propulsion
      13.10.1 Diesel
      13.10.2 Gasoline
      13.10.3 CNG/ LNG/ Others
   13.11 Basis Point Share (BPS) Analysis By Propulsion
   13.12 Absolute $ Opportunity Assessment By Propulsion
   13.13 Market Attractiveness Analysis By Propulsion
   13.14 Latin America Mining Equipment and Machinery Market Size Forecast By Application
      13.14.1 Coal
      13.14.2 Mineral
      13.14.3 Metal
   13.15 Basis Point Share (BPS) Analysis By Application 
   13.16 Absolute $ Opportunity Assessment By Application 
   13.17 Market Attractiveness Analysis By Application
Chapter 14 Middle East & Africa (MEA) Mining Equipment and Machinery Analysis and Forecast
   14.1 Introduction
   14.2 Middle East & Africa (MEA) Mining Equipment and Machinery Market Size Forecast by Country
      14.2.1 Saudi Arabia
      14.2.2 South Africa
      14.2.3 UAE
      14.2.4 Rest of Middle East & Africa (MEA)
   14.3 Basis Point Share (BPS) Analysis by Country
   14.4 Absolute $ Opportunity Assessment by Country
   14.5 Market Attractiveness Analysis by Country
   14.6 Middle East & Africa (MEA) Mining Equipment and Machinery Market Size Forecast By Product Category
      14.6.1 Crushing, Pulverizing, and Screening Equipment
      14.6.2 Drills & Breakers
      14.6.3 Mineral Processing Equipment
      14.6.4 Surface Mining Equipment
      14.6.5 Underground Mining Equipment
   14.7 Basis Point Share (BPS) Analysis By Product Category
   14.8 Absolute $ Opportunity Assessment By Product Category
   14.9 Market Attractiveness Analysis By Product Category
   14.10 Middle East & Africa (MEA) Mining Equipment and Machinery Market Size Forecast By Propulsion
      14.10.1 Diesel
      14.10.2 Gasoline
      14.10.3 CNG/ LNG/ Others
   14.11 Basis Point Share (BPS) Analysis By Propulsion
   14.12 Absolute $ Opportunity Assessment By Propulsion
   14.13 Market Attractiveness Analysis By Propulsion
   14.14 Middle East & Africa (MEA) Mining Equipment and Machinery Market Size Forecast By Application
      14.14.1 Coal
      14.14.2 Mineral
      14.14.3 Metal
   14.15 Basis Point Share (BPS) Analysis By Application 
   14.16 Absolute $ Opportunity Assessment By Application 
   14.17 Market Attractiveness Analysis By Application
Chapter 15 Competition Landscape
   15.1 Mining Equipment and Machinery Market: Competitive Dashboard
   15.2 Global Mining Equipment and Machinery Market: Market Share Analysis, 2019
   15.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
      15.3.1 AB Volvo
      15.3.2 Caterpillar Inc.
      15.3.3 Deere & Company
      15.3.4 Doosan Corporation
      15.3.5 Hitachi, Ltd.
      15.3.6 Komatsu Ltd.
      15.3.7 Liebherr-International AG
      15.3.8 Sandvik AB
      15.3.9 SANY GROUP
      15.3.10 Terex Corporation
      15.3.11 XCMG Group
      15.3.12 Zoomlion Heavy Industry Science and Technology Co., Ltd.

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FAQ Section

Some frequently asked questions about this report!

Major manufactures include, Caterpillar Inc., Komatsu Ltd., Hitachi, Ltd., AB Volvo, Liebherr-International AG, and others.

The mining industry is the key end-user driving the Mining equipment and machinery market growth.

The base year considered for the global mining equipment and machinery market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017, and 2018 are the historic years and the forecast is provided from 2020 to 2027.

The market is expected to witness decline of over 2.6% between 2019 and 2020 owing to the negative impact of COVID 19 pandemic on the Mining equipment and machinery market. The shutdown of production activities, restrictions on transportation activities, and temporary decline in demand for mining equipment and machinery are some of the prime reasons responsible for this market trend.

Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.

Growing consumption of natural resources, rising demand for metals and commodities, adoption of innovative technologies, increasing demand for energy and electricity are the factors expected to drive the market growth during forecast period.

In addition to market size (in US$ Billion), Company Market Share (in % for base year 2019), other data such as pricing analysis for year 2017 to 2027 (estimated pricing analysis) is provided, in final report.

According to this Growth Market Reports report, the market from Mining equipment and machinery is likely to register a CAGR of 5.4 % during forecast period 2020-2027, with an anticipated valuation of US$ 140 million by the end of the 2027.

Yes, the report includes the distributors list in the final report.

Additional company profiles can be provided on request.