Mining Equipment Market Share, Size, and Growth Report 2023-2028

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The global mining equipment market size reached US$ 142.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 193.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.91% during 2023-2028.

IMARC Group, a leading market research company, has recently releases report titled "Mining Equipment Market Share: Global Industry Trends, Size, Growth, Opportunity and Forecast 2023-2028" by IMARC Group, finds that the global mining equipment market size reached US$ 142.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 193.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.91% during 2023-2028.

 

What are Mining Equipment?

 

Mining equipment represent numerous tools and machines used to extract industrial minerals, metals, oil, water, coal, etc., that are buried deep inside the earth. They include haulers, excavators, crawler dozers, articulated dump trucks, crawler excavators, etc. Mining equipment assist in material handling, digging, pushing, removing waste materials, etc. Reliable and efficient equipment make mining easier as well as safer, aids in improving productivity, promotes cost-effectiveness, etc. As a result, mining equipment is extensively used to ensure the safety and productivity of workers.

 

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Mining Equipment Market Trends and Drivers:

 

The increasing number of construction activities across countries, owing to the expanding global population, is augmenting the demand for the extraction of natural resources, such as copper, coal, iron, aluminum, etc., which is primarily driving the mining equipment market. Furthermore, the inflating need for energy and power generation, on account of the elevating levels of industrialization and the growing infrastructure development projects, is bolstering the market growth. Apart from this, the rising focus of mining companies on using more advanced equipment and machinery to save time and increase productivity is acting as another significant growth-inducing factor. Moreover, continuous improvements and innovations in extraction technologies by leading manufacturers operating in the mining sector to minimize the cost of extraction and equipment maintenance are also positively influencing the global market. Besides this, the widespread adoption of renewable energy sources is further catalyzing the market growth. Additionally, the introduction of variants that are integrated with telematics solutions is anticipated to fuel the mining equipment market over the forecasted period.

 

Mining Equipment Market Report Segmentation:

 

Competitive Landscape:

 

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

 

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.

 

The report has been segmented the market into following categories:

 

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

By Geography:

  • 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
  • Key highlights of the report:
  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain

Comprehensive Mapping of the Competitive Landscape:

 

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

 

About Us:

 

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

 

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

 

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