The Mining Equipment Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Mining Equipment Market?
The market size of the Mining Equipment Global Market Report 2025 has seen significant growth in recent years. It was valued at $148.74 billion in 2024 and is expected to increase to $160.19 billion in 2025, with a compound annual growth rate (CAGR) of 7.7%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Mining Equipment Industry?
The Mining Equipment Global Market Report 2025 predicts that by 2029, the market size will reach $218.17 billion, expanding at a compound annual growth rate of 8.0%.
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What are the Key Growth Drivers Fueling the Mining Equipment Market?
The key drivers in the mining equipment market are:
• Transition to clean energy propelling demand for certain minerals
• Surge in infrastructure investment globally
• Advancements in technology improving operational efficiency in mining
• Growth in the electric vehicles market, fuelling demand for metals and minerals.
Global Market Segmentation: Identifying Major Mining Equipment Industry Segments
The mining equipment market covered in this report is segmented –
1) By Product: Mining Drills And Breakers, Crushing, Pulverizing And Screening Equipment, Mineral Processing Equipment, Surface Mining Equipment, Underground Mining Equipment
2) By Powertrain Type: IC Engine Vehicle, Electric Vehicle
3) By Application: Metal Mining, Mineral Mining, Coal Mining
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What are the Emerging Trends Shaping the Future of the Mining Equipment Market?
The key trends in the mining equipment market are:
• The introduction of electric and hybrid mining vehicles is shaping the future of the market.
• The application of drones and UAVs for surveying and exploration is a notable emerging trend.
• The incorporation of digital twin technology for equipment simulation is having an influence on market trends.
• The development of wearable technology for worker safety and modular, scalable equipment designs are significant upcoming trends.
Who Are the Top Competitors & Leading Players in the Mining Equipment Market?
Major companies in the mining equipment market are:
• Caterpillar Inc.
• Deere & Company
• Hitachi Construction Machinery Co Ltd.
• Komatsu America Corp
• Liebherr-International AG
• Metso Oyj
• Sandvik AB
• Epiroc Mining Equipment
• Boart Longyear Ltd.
• China Coal Energy Group Co Ltd.
• Vipeak Mining Machinery Co Ltd.
• Guangdong Leimeng Intelligent Equipment Group Co Ltd.
• Henan Baichy Machinery Equipment Co Ltd.
• Doosan Infracore Co Ltd.
• Atlas Copco Ltd.
• Zhengzhou Coal Mining Machinery Group Co Ltd.
• Thyssenkrupp AG
• Bell Equipment Company South Africa
• FLSmidth & Co A/S
• H-E Parts International LLC
• Paus GmbH
• IZ-Karteks imeni P.G. Korobkova OOO
• Tenova Mining & Minerals
• Mine Master Ltd.
• CMM Equipments
• Osborn Engineered Products SA Pty. Ltd.
• Normet Group
• Remote Control Technologies Pty. Ltd.
• MacLean Engineering & Marketing Co Limited
• Strata Products Worldwide LLC
Regional Dominance: Which Area Leads the Global Template Market?
Asia-Pacific was the largest region in the mining equipment market in 2024
