Latin America Mining Equipment Market Size & Outlook
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Latin America mining equipment market highlights
- The Latin America mining equipment market generated a revenue of USD 13,327.7 million in 2025.
- The market is expected to grow at a CAGR of 5.7% from 2026 to 2033.
- In terms of segment, surface mining equipment was the largest revenue generating equipment type in 2025.
- Underground Mining Equipment is the most lucrative equipment type segment registering the fastest growth during the forecast period.
- Country-wise, Argentina is expected to register the highest CAGR from 2026 to 2033.
Latin America data book summary
| Market revenue in 2025 | USD 13,327.7 million |
| Market revenue in 2033 | USD 20,664.9 million |
| Growth rate | 5.7% (CAGR from 2026 to 2033) |
| Largest segment | Surface mining equipment |
| Fastest growing segment | Underground Mining Equipment |
| Historical data covered | 2021 - 2024 |
| Base year for estimation | 2025 |
| Forecast period covered | 2026 - 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, Latin America region accounted for 8.6% of the global mining equipment market in 2025.
- 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 47.52% in 2025. Horizon Databook has segmented the Latin America 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.
In the countries of Central & South America, notably Brazil, Peru, and Argentina, net exports from the manufacturing sector have returned to pre-pandemic levels, resulting in economic growth. Increasing remittances, rising food costs, and effective continued support from these countries’ governments for the improvement of their economies have all contributed to the growth of the regional GDP.
After a 6.9% rebound in 2021, the regional GDP is projected to increase by 2.3% in 2022 and 2.2% in 2023, with majority of countries recouping GDP losses incurred during the pandemic crisis, according to the International Monetary Fund (IMF).
Foreign Direct Investments in the region likewise achieved record lows in 2020, falling by 34.7% compared to 2019. As the economies of Central & South America gradually recover from the COVID-19 crisis, the industry is prepared for steady future 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 |
Latin America mining equipment market size, by country, 2021-2033 (US$M)
Latin America Mining Equipment Market Outlook Share, 2025 & 2033 (US$M)
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