Global Mining equipment and machinery Market 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 Applications (Coal, Mineral, and Metal) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 - 2031
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 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.
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.
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.
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
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.