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Mining Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global mining equipment market size reached US$ 134.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 184.19 Billion by 2027, exhibiting a growth rate (CAGR) of 5.25% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Mining equipment refers to various tools and machines used to extract industrial minerals, metals, oil, water, and coal that are buried deep inside the earth. It includes haulers, excavators, crawler dozers, articulated dump trucks, and crawler excavators. It assists in material handling, digging, pushing, and removing waste materials. Besides this, reliable and efficient equipment makes mining easier and safer, helps improve productivity, and promotes cost-effectiveness. As a result, it is extensively used to ensure the safety and productivity of workers.

Mining Equipment Market Trends:

At present, the increasing global population is resulting in the rising need for construction activities across the globe, which is driving the demand for the extraction of natural resources, such as copper, coal, iron, and aluminum. This, in turn, represents one of the key factors positively influencing the market. In addition, the growing demand for energy and power generation globally due to rapid urbanization and industrialization and a significant rise in infrastructure development activities is creating a positive market outlook. Apart from this, the rising focus of mining companies on using more advanced equipment and machinery to save time and cost and increase productivity is currently offering lucrative growth opportunities to mining equipment manufacturers. The leading manufacturers operating in the industry are also focusing on improvements and innovations in extraction technologies to minimize the cost of extraction and equipment maintenance, which is offering a favorable market outlook. Furthermore, shifting consumer preferences toward renewable energy sources is fueling the need for extracting various minerals. In addition, the increasing sales of mining machinery integrated with advanced technologies and telematics solutions are expected to drive the market in the coming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global mining equipment market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, equipment and application.

Breakup by Type:

  • Excavators
  • Loaders
  • Dozers
  • Motor Graders
  • Dump Trucks
  • Others
     

Breakup by Equipment:

  • Underground Mining
  • Surface Mining
  • Crushing, Pulverizing and Screening
  • Drills and Breakers
  • Others
     

Breakup by Application:

  • Metal Mining
  • Mineral Mining
  • Coal Mining
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being AARD Mining Equipment, Astec Industries Inc., Atlas Copco AB, Boart Longyear Ltd., Caterpillar Inc, Hitachi Construction Machinery Co. Ltd. (Hitachi Ltd), J.C. Bamford Excavators Limited, Komatsu Ltd., Liebherr-International AG, Metso Corporation, Sandvik AB and XCMG Group.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Type, Equipment, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered AARD Mining Equipment, Astec Industries Inc., Atlas Copco AB, Boart Longyear Ltd., Caterpillar Inc, Hitachi Construction Machinery Co. Ltd. (Hitachi Ltd), J.C. Bamford Excavators Limited, Komatsu Ltd., Liebherr-International AG, Metso Corporation, Sandvik AB and XCMG Group.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Mining Equipment Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Type
    6.1    Excavators
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Loaders
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Dozers
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4    Motor Graders
        6.4.1 Market Trends
        6.4.2 Market Forecast
    6.5    Dump Trucks
        6.5.1 Market Trends
        6.5.2 Market Forecast
    6.6    Others
        6.6.1 Market Trends
        6.6.2 Market Forecast
7    Market Breakup by Equipment
    7.1    Underground Mining 
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Surface Mining 
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Crushing, Pulverizing and Screening 
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Drills and Breakers
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5    Others
        7.5.1 Market Trends
        7.5.2 Market Forecast
8    Market Breakup by Application
    8.1    Metal Mining
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Mineral Mining
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Coal Mining
        8.3.1 Market Trends
        8.3.2 Market Forecast
9    Market Breakup by Region
    9.1    North America
        9.1.1 United States
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 Canada
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
    9.2    Asia-Pacific
        9.2.1 China
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 Japan
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 India
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 South Korea
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Australia
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
        9.2.6 Indonesia
           9.2.6.1 Market Trends
           9.2.6.2 Market Forecast
        9.2.7 Others
           9.2.7.1 Market Trends
           9.2.7.2 Market Forecast
    9.3    Europe
        9.3.1 Germany
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 France
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
        9.3.3 United Kingdom
           9.3.3.1 Market Trends
           9.3.3.2 Market Forecast
        9.3.4 Italy
           9.3.4.1 Market Trends
           9.3.4.2 Market Forecast
        9.3.5 Spain
           9.3.5.1 Market Trends
           9.3.5.2 Market Forecast
        9.3.6 Russia
           9.3.6.1 Market Trends
           9.3.6.2 Market Forecast
        9.3.7 Others
           9.3.7.1 Market Trends
           9.3.7.2 Market Forecast
    9.4    Latin America
        9.4.1 Brazil
           9.4.1.1 Market Trends
           9.4.1.2 Market Forecast
        9.4.2 Mexico
           9.4.2.1 Market Trends
           9.4.2.2 Market Forecast
        9.4.3 Others
           9.4.3.1 Market Trends
           9.4.3.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Breakup by Country
        9.5.3 Market Forecast
10    SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11    Value Chain Analysis
12    Porters Five Forces Analysis

    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13    Price Analysis
14    Competitive Landscape

    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    AARD Mining Equipment
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio
        14.3.2    Astec Industries Inc.
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio
           14.3.2.3 Financials
           14.3.2.4 SWOT Analysis
        14.3.3    Atlas Copco AB
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio
           14.3.3.3 Financials
           14.3.3.4 SWOT Analysis
        14.3.4    Boart Longyear Ltd.
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio
           14.3.4.3 Financials
           14.3.4.4 SWOT Analysis
        14.3.5    Caterpillar Inc
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio
           14.3.5.3 Financials
           14.3.5.4 SWOT Analysis
        14.3.6    Hitachi Construction Machinery Co. Ltd. (Hitachi Ltd)
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio
           14.3.6.3 Financials
           14.3.6.4 SWOT Analysis
        14.3.7    J.C. Bamford Excavators Limited
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio
        14.3.8    Komatsu Ltd.
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio
           14.3.8.3 Financials
           14.3.8.4 SWOT Analysis
        14.3.9    Liebherr-International AG
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
           14.3.9.3 SWOT Analysis
        14.3.10    Metso Corporation
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio
           14.3.10.3 Financials
           14.3.10.4 SWOT Analysis
        14.3.11    Sandvik AB
           14.3.11.1 Company Overview
           14.3.11.2 Product Portfolio
           14.3.11.3 Financials
           14.3.11.4 SWOT Analysis
        14.3.12    XCMG Group
           14.3.12.1 Company Overview
           14.3.12.2 Product Portfolio
           14.3.12.3 SWOT Analysis

List of Figures

Figure 1: Global: Mining Equipment Market: Major Drivers and Challenges
Figure 2: Global: Mining Equipment Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Mining Equipment Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Mining Equipment Market: Breakup by Type (in %), 2021
Figure 5: Global: Mining Equipment Market: Breakup by Equipment (in %), 2021
Figure 6: Global: Mining Equipment Market: Breakup by Application (in %), 2021
Figure 7: Global: Mining Equipment Market: Breakup by Region (in %), 2021
Figure 8: Global: Mining Equipment (Excavators) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Mining Equipment (Excavators) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Mining Equipment (Loaders) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Mining Equipment (Loaders) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Mining Equipment (Dozers) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Mining Equipment (Dozers) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Mining Equipment (Motor Graders) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Mining Equipment (Motor Graders) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Mining Equipment (Dump Trucks) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Mining Equipment (Dump Trucks) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Mining Equipment (Other Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Mining Equipment (Other Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Mining Equipment (Underground Mining) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Mining Equipment (Underground Mining) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Mining Equipment (Surface Mining) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Mining Equipment (Surface Mining) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Mining Equipment (Crushing, Pulverizing and Screening) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Mining Equipment (Crushing, Pulverizing and Screening) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Mining Equipment (Drills and Breakers) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Mining Equipment (Drills and Breakers) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Mining Equipment (Other Equipments) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Mining Equipment (Other Equipments) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Global: Mining Equipment (Metal Mining) Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Global: Mining Equipment (Metal Mining) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Global: Mining Equipment (Mineral Mining) Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Global: Mining Equipment (Mineral Mining) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Global: Mining Equipment (Coal Mining) Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Global: Mining Equipment (Coal Mining) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: North America: Mining Equipment Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: North America: Mining Equipment Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: United States: Mining Equipment Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: United States: Mining Equipment Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Canada: Mining Equipment Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Canada: Mining Equipment Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Asia-Pacific: Mining Equipment Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Asia-Pacific: Mining Equipment Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: China: Mining Equipment Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: China: Mining Equipment Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Japan: Mining Equipment Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Japan: Mining Equipment Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: India: Mining Equipment Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: India: Mining Equipment Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: South Korea: Mining Equipment Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: South Korea: Mining Equipment Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Australia: Mining Equipment Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Australia: Mining Equipment Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Indonesia: Mining Equipment Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Indonesia: Mining Equipment Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Others: Mining Equipment Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Others: Mining Equipment Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Europe: Mining Equipment Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Europe: Mining Equipment Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Germany: Mining Equipment Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Germany: Mining Equipment Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: France: Mining Equipment Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: France: Mining Equipment Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: United Kingdom: Mining Equipment Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: United Kingdom: Mining Equipment Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Italy: Mining Equipment Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Italy: Mining Equipment Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Spain: Mining Equipment Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Spain: Mining Equipment Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Russia: Mining Equipment Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Russia: Mining Equipment Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Others: Mining Equipment Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Others: Mining Equipment Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: Latin America: Mining Equipment Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: Latin America: Mining Equipment Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: Brazil: Mining Equipment Market: Sales Value (in Million US$), 2016 & 2021
Figure 77: Brazil: Mining Equipment Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 78: Mexico: Mining Equipment Market: Sales Value (in Million US$), 2016 & 2021
Figure 79: Mexico: Mining Equipment Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 80: Others: Mining Equipment Market: Sales Value (in Million US$), 2016 & 2021
Figure 81: Others: Mining Equipment Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 82: Middle East and Africa: Mining Equipment Market: Sales Value (in Million US$), 2016 & 2021
Figure 83: Middle East and Africa: Mining Equipment Market: Breakup by Country (in %), 2021
Figure 84: Middle East and Africa: Mining Equipment Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 85: Global: Mining Equipment Industry: SWOT Analysis
Figure 86: Global: Mining Equipment Industry: Value Chain Analysis
Figure 87: Global: Mining Equipment Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Mining Equipment Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Mining Equipment Market Forecast: Breakup by Type (in Million US$), 2022-2027
Table 3: Global: Mining Equipment Market Forecast: Breakup by Equipment (in Million US$), 2022-2027
Table 4: Global: Mining Equipment Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 5: Global: Mining Equipment Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Mining Equipment Market: Competitive Structure
Table 7: Global: Mining Equipment Market: Key Players


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Key Questions Answered in This Report

The global mining equipment market was valued at US$ 134.5 Billion in 2021.

 

We expect the global mining equipment market to exhibit a CAGR of 5.25% during 2022-2027.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary halt in numerous mining activities, thereby negatively impacting the global market for mining equipment.

 

The rising demand for advanced equipment and machinery among numerous organizations to save time and cost as well as increase productivity is primarily driving the global mining equipment market.

 

Based on the type, the global mining equipment market can be segmented into excavators, loaders, dozers, motor graders, dump trucks, and others. Currently, excavators account for the majority of the total market share.

Based on the equipment, the global mining equipment market has been divided into underground mining, surface mining, crushing, pulverizing and screening, drills and breakers, and others. Among these, surface mining currently exhibits a clear dominance in the market.

 

Based on the application, the global mining equipment market can be categorized into metal mining, mineral mining, and coal mining. Currently, metal mining holds the largest market share.

 

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.

 

Some of the major players in the global mining equipment market include AARD Mining Equipment, Astec Industries Inc., Atlas Copco AB, Boart Longyear Ltd., Caterpillar Inc, Hitachi Construction Machinery Co. Ltd. (Hitachi Ltd), J.C. Bamford Excavators Limited, Komatsu Ltd., Liebherr-International AG, Metso Corporation, Sandvik AB, and XCMG Group.

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