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Mining Equipment Market Size, Share Global Analysis Report, 2020–2026
Mining Equipment Market By Equipment (Surface Mining, Underground Mining, Crushing, Pulverizing & Screening, Drills & Breakers, and Others) and By Application (Metal, Non-Metal, and Coal): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecast 2020–2026
Industry Insights
[189+ Pages Report] According to the report published by Facts Factors, the global mining equipment market size was worth around USD 150.7 billion in 2019 and is predicted to grow to around USD 327.2 billion by 2026 with a compound annual growth rate (CAGR) of roughly 11.7% between 2020 and 2026. The report analyzes the global mining equipment market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the mining equipment market.
This specialized and expertise-oriented industry research report scrutinizes the technical and commercial business outlook of the mining equipment industry. The report analyzes and declares the historical and current trends analysis of the mining equipment industry and subsequently recommends the projected trends anticipated to be observed in the mining equipment market during the upcoming years.
Key Insights from Primary Research
- As per our primary respondents, the mining equipment market is set to grow annually at a rate of around 11.7%
- It was established through primary research that the mining equipment market was valued at around USD 150.7 billion in 2019
- The Asia Pacific held the largest market share of the mining equipment market in terms of revenue in 2019
- The “Surface Mining” category, on the basis of equipment segmentation, was the leading revenue-generating category in 2019
- The “Metal” category, on the basis of application segmentation, was the leading revenue-generating in 2019
Key Recommendations from Analysts
- As per our analysts, rising demand for base metals, such as silver, gold, platinum, and copper is estimated to contribute to the revenue growth
- Due to adverse climatic effects of excavating activities, equipment manufacturers are introducing energy-efficient equipment that has lower diesel consumption levels
- In 2016, Eastern Coal Fields (ECL) in India invested USD 88.6 million at the Jhanjra underground mine to modernize the infrastructure and introduce a Low Height Continuous Miner (LHCM) at the site
- Rising population coupled with increasing economic activity have significantly fueled the demand for coal for various purposes, such as electricity generation
- The Latin America and MEA regions are projected to experience significant growth over the forecast period owing to favorable regulations for overseas investors, particularly in Peru, Chile, and Colombia
Mining Equipment Global Market Share – By Region
The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the mining equipment industry are exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.
Throughout our research report, we have encompassed all the proven models and tools of industry analysis and extensively illustrated all the key business strategies and business models adopted in the mining equipment industry. The report provides an all-inclusive and detailed competitive landscape prevalent in the mining equipment market.
The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the mining equipment industry. The mining equipment market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.
The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market positions in the mining equipment sector. Key strategic developments in the mining equipment market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the mining equipment market are appropriately highlighted in the report.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 150.7 billion |
Projected Market Size in 2026 |
USD 327.2 billion |
CAGR Growth Rate |
11.7% CAGR |
Base Year |
2020 |
Forecast Years |
2020-2026 |
Key Market Players |
Boart Longyear Ltd., Hitachi Construction Machinery Co. Ltd., Komatsu Ltd., Metso Corporation, Volvo, Atlas Copco AB, Caterpillar Inc., J.C. Bamford Excavators Limited, LIEBHERR, Sandvik AB, and Others |
Key Segment |
By Equipment, By Applications, and By Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Increased demand for metals has boosted the adoption of extraction equipment in the Asia Pacific and Latin American regions. In addition, due to the adverse climatic effects of excavating operations, manufacturers of equipment are developing energy-efficient equipment that has lower levels of diesel consumption. Manufacturers mount combustion catalysts, such as FuelSpec, with the goal of reducing emissions and fuel consumption during the process of extraction. This would also lead to the development of the demand for mining equipment in future years.
The mining equipment market research report delivers an acute valuation and taxonomy of the mining equipment industry by practically splitting the market on the basis of different equipments, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the mining equipment industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. Further, country-wise data for the mining equipment industry is provided for the leading economies of the world.
The mining equipment market is segmented based on equipment and application. On the basis of equipment segmentation, the market is classified into surface mining, underground mining, crushing, pulverizing & screening, drills & breakers, and others. In terms of application segmentation, the market is bifurcated into metal, non-metal, and coal.
Some of the essential players operating in the mining equipment market, but not restricted to include:
- Boart Longyear Ltd.
- Hitachi Construction Machinery Co. Ltd.
- Komatsu Ltd.
- Metso Corporation
- Volvo
- Atlas Copco AB
- Caterpillar Inc.
- J.C. Bamford Excavators Limited
- LIEBHERR
- Sandvik AB
The taxonomy of the mining equipment industry by its scope and segmentation is as follows:
By Equipment Segmentation Analysis (Customizable)
- Surface Mining
- Underground Mining
- Crushing, Pulverizing & Screening
- Drills & Breakers
- Others
By Application Segmentation Analysis (Customizable)
- Metal
- Non-Metal
- Coal
Regional Segmentation Analysis (Customizable)
- North America
- The U.S.
- Canada
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
Table of Content
Industry Major Market Players
- Boart Longyear Ltd.
- Hitachi Construction Machinery Co. Ltd.
- Komatsu Ltd.
- Metso Corporation
- Volvo
- Atlas Copco AB
- Caterpillar Inc.
- J.C. Bamford Excavators Limited
- LIEBHERR
- Sandvik AB
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