US Mining Equipment Market Size, Share, Trends and Forecast by Type, Equipment, Application, and Region, 2026-2034

US Mining Equipment Market Overview:

The US mining equipment market size reached USD 40,137.07 Million in 2025. The market is projected to reach USD 57,715.57 Million by 2034, exhibiting a growth rate (CAGR) of 4.12% during 2026-2034. The market is supported by increased mineral exploration and modernization efforts. Government incentives and sustainability-focused policies strengthen domestic production and accelerate the transition toward cleaner mining technologies. Advancements in electrification and automation are enhancing operational efficiency, safety, ‎and environmental performance, further contributing to the US mining equipment market share.

US Mining Equipment Market Trends:

Advancements in Electrification and Sustainable Mining Equipment

The shift toward low-emission and energy-efficient mining operations is accelerating the adoption of battery-electric mining equipment across the US. Mining companies are increasingly prioritizing sustainability, operational efficiency, and worker safety, driving investments in electric trucks, loaders, and drilling systems. Electrified machinery not only reduces greenhouse gas emissions but also improves underground air quality and minimizes ventilation costs, offering long-term economic and environmental benefits. Manufacturers are responding by developing high-performance battery systems and charging solutions tailored for intensive mining environments. In 2025, Sandvik secured a record SEK 750 million order from South32 to supply a fleet of battery-electric mining equipment for the Hermosa critical minerals project in Arizona, which is the company’s largest-ever BEV contract. Deliveries are set to begin in 2026 and continue through 2030, reinforcing the growing momentum for zero-emission mining fleets. This landmark order highlights the rising demand for sustainable, high-capacity equipment as the US mining sector advances toward cleaner, technology-driven operations aligned with global decarbonization goals.

Rising Mineral Exploration and Extraction Activities

The growing expansion of mineral exploration projects across the US is driving the demand for technologically advanced mining equipment capable of supporting large-scale extraction and processing activities. The rising focus on critical minerals critical for clean energy technologies and industrial manufacturing is encouraging the adoption of high-capacity machinery designed for improved productivity, safety, and automation. Continuous exploration of both surface and underground mineral deposits is increasing investments in advanced drilling, hauling, and crushing systems that enable cost-effective and precise operations. In 2025, U.S. Permitting Council added the Burnt Rock Exploration Project (Nevada) and Copper Creek ‎Exploration Project (Arizona) to the FAST-41 transparency program, expediting reviews for critical ‎mineral mining. These projects aim to boost domestic gold, silver, and copper supply vital to U.S. energy ‎and national security.‎ These initiatives highlight the nation’s commitment to strengthening domestic mineral supply chains and technological self-reliance. This modernization trend emphasizes efficiency, reduced downtime, and environmental compliance, encouraging manufacturers to prioritize innovation and digital integration in equipment design.

Government Policies and Investment Incentives

Government policies and focused investment initiatives are significantly contributing to the US mining equipment market growth by encouraging local resource development and technological advancement. Federal and state officials are focusing on efforts that support critical mineral self-sufficiency, improve energy security, and lessen dependence on international supply chains. Strategic models, tax benefits, and funding initiatives are motivating mining firms to invest in infrastructure growth, sophisticated equipment, and automation technologies. Policies promoting the extraction of vital minerals like lithium, copper, and nickel, which are crucial for renewable energy and electric vehicle manufacturing, are catalyzing the demand for high-performance machinery. Moreover, funding and research motivation are encouraging the implementation of sustainable and low-emission technologies, aligning industrial development with national environmental objectives. These government-initiated actions are not just speeding up exploration and production efforts but also fostering innovation in mining processes, resulting in enhanced productivity, safety, and sustainability. Together, this policy-oriented landscape is generating enduring prospects for equipment producers, boosting competitiveness, and emphasizing the strategic significance of the mining industry in the US industrial and energy transition context.

US Mining Equipment Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2026-2034. Our report has categorized the market based on type, equipment, and application.

Type Insights:

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

A detailed breakup and analysis of the market based on the type have also been provided in ‎the report. This includes excavators, loaders, dozers, motor graders, dump trucks, and others.

Equipment Insights:

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

The report has provided a detailed breakup and analysis of the market based on the equipment. This includes underground mining, surface mining, crushing, pulverizing, and screening, drills and breakers, and others.

Application Insights:

• Metal Mining
• Mineral Mining
• Coal Mining

A detailed breakup and analysis of the market based on the application have also been provided in ‎the report. This includes metal mining, mineral mining, and coal mining.

Regional Insights:

• Northeast
• Midwest
• South
• West

The report has also provided a comprehensive analysis of all the major regional markets, which include Northeast, Midwest, South, and West.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

US Mining Equipment Market News:

• July 2025: Barrick’s Nevada Gold Mines (NGM) and Komatsu launched the first U.S. autonomous haulage partnership, introducing Komatsu’s FrontRunner AHS to automate 300- and 230-tonne haul trucks. The system enhances safety, efficiency, and sustainability across NGM’s surface mines. Supported by Sedna and Nokia’s 5G network, it ensures real-time, remote, high-speed operations.
• September 2024: Komatsu launched its first Power Agnostic 930E haul truck, designed to operate on diesel, battery, or hydrogen fuel cells, supporting mining companies’ transition toward zero-emission operations. The truck’s modular platform enables future-proof flexibility for decarbonization and sustainability in mining.

US Mining Equipment Market Report Coverage:

Key Questions Answered in This Report:

• How has the US mining equipment market performed so far and how will it perform in the coming years?
• What is the breakup of the US mining equipment market on the basis of type?
• What is the breakup of the US mining equipment market on the basis of equipment?
• What is the breakup of the US mining equipment market on the basis of application?
• What is the breakup of the US mining equipment market on the basis of region?
• What are the various stages in the value chain of the US mining equipment market?
• What are the key driving factors and challenges in the US mining equipment market?
• What is the structure of the US mining equipment market and who are the key players?
• What is the degree of competition in the US mining equipment market?

Key Benefits for Stakeholders:

• IMARC's industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the US mining equipment market from 2020-2034.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the US mining equipment market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the US mining equipment industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.