Europe Mining Equipment Market Size & Outlook, 2025-2033
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Europe mining equipment market highlights
- The Europe mining equipment market generated a revenue of USD 32,336.5 million in 2024.
- The market is expected to grow at a CAGR of 4.9% from 2025 to 2033.
- In terms of segment, surface mining equipment was the largest revenue generating equipment type in 2024.
- Underground Mining Equipment is the most lucrative equipment type segment registering the fastest growth during the forecast period.
- Country-wise, Norway is expected to register the highest CAGR from 2025 to 2033.
Europe data book summary
| Market revenue in 2024 | USD 32,336.5 million |
| Market revenue in 2033 | USD 49,336.9 million |
| Growth rate | 4.9% (CAGR from 2025 to 2033) |
| Largest segment | Surface mining equipment |
| Fastest growing segment | Underground Mining Equipment |
| Historical data covered | 2021 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2033 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Underground Mining Equipment, Surface Mining Equipment, Crushing, Pulverizing & Screening Equipment, Drills & Breakers |
| Key market players worldwide | Epiroc AB DR, Caterpillar Inc, China Coal Energy Co Ltd Class H, Komatsu Ltd, Liebherr Group, Metso Corp |
Other key industry trends
- In terms of revenue, Europe region accounted for 21.8% of the global mining equipment market in 2024.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2033.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 92,166.6 million by 2033.
Surface mining equipment was the largest segment with a revenue share of 39.52% in 2024. Horizon Databook has segmented the Europe mining equipment market based on underground mining equipment, surface mining equipment, crushing, pulverizing & screening equipment, drills & breakers covering the revenue growth of each sub-segment from 2021 to 2033.
According to Eurostat, the European Union’s gross domestic product increased by 5.4% in 2021. According to the OECD, the GDP is expected to increase by 2.6% in 2022 and 1.6% in 2023. In the first half of 2022, the war in Ukraine and the lockdown in China are projected to considerably impact growth.
The Russia-Ukraine war has directly and indirectly impacted the EU economy, putting it on a path of slower development and greater inflation. Supportive policies, strong growth in wages, and continuous employment creation are some of the factors contributing to the region’s economic growth.
In addition, public investment, notably in digital and transport infrastructure, is further anticipated to positively impact economic growth. Private investments, especially in the construction sector, are expected to drive the region’s economic growth.
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Mining Equipment Market Scope
Mining Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| China Coal Energy Co Ltd Class H | View profile | 47122 | No. 1 Huangsidajie, Chaoyang District, Beijing, China, People's Republic of, 100120 | https://www.chinacoalenergy.com |
| Liebherr Group | View profile | 10001+ | Biberach An Der Riß, Baden-Wurttemberg, Germany, Europe | http://www.liebherr.com |
| Metso Corp | View profile | 17121 | Rauhalanpuisto 9, Helsinki, Finland, 02330 | https://www.metso.com |
| Epiroc AB DR | View profile | 18157 | Sickla Industrivag 19, Nacka, Stockholm, Sweden, SE-131 54 | https://www.epirocgroup.com |
| Komatsu Ltd | View profile | 70608 | 3-6 Akasaka 2-chome, Minato-ku, Tokyo, Japan, 107-8414 | https://www.komatsu.jp |
| Caterpillar Inc | View profile | 121173 | 5205 N. O'Connor Boulevard, Suite 100, Irving, TX, United States, 75039 | https://www.caterpillar.com |
Europe mining equipment market size, by country, 2021-2033 (US$M)
Europe Mining Equipment Market Outlook Share, 2024 & 2033 (US$M)
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