Norway Mining Equipment Market Size & Outlook, 2026-2033
Global Market
Related Markets
Norway mining equipment market highlights
- The Norway mining equipment market generated a revenue of USD 2,193.2 million in 2025 and is expected to reach USD 3,201.3 million by 2033.
- The Norway market is expected to grow at a CAGR of 4.9% 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.
Mining equipment market data book summary
| Market revenue in 2025 | USD 2,193.2 million |
| Market revenue in 2033 | USD 3,201.3 million |
| Growth rate | 4.9% (CAGR from 2026 to 2033) |
| Largest segment | Surface mining equipment |
| Fastest growing segment | Underground Mining Equipment |
| Historical data | 2021 - 2024 |
| Base year | 2025 |
| Forecast period | 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, Norway accounted for 1.4% of the global mining equipment market in 2025.
- Country-wise, China is expected to lead the global market in terms of revenue in 2033.
- In Europe, Germany mining equipment market is projected to lead the regional market in terms of revenue in 2033.
- Norway is the fastest growing regional market in Europe and is projected to reach USD 3,201.3 million by 2033.
According to the OECD, Norway’s GDP growth rate for 2022 is projected to be 3.5%, reflecting the country’s final phase of recovery following the pandemic. Economic growth has slowed to its long term potential rate of 1.7% by 2023. The elevated uncertainty surrounding commodity prices has increased the risks of inflation in Norway.
The already tight labor market will put additional pressure on wage inflation in Norway. The minerals industry in Norway is typically coastal and regional, with the majority of mining activities taking place in Nordland. The number of employees in this industry has decreased recently, although exports from the country have increased in terms of value significantly.
The production of industrial minerals has increased considerably in this industry in Norway, while the output of stone chips, natural stones, sand, and gravel has grown moderately. The ore extraction in the country has decreased significantly. The greatest olivine mines in the world are in Norway.
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Publish Date: Apr 14, 2026
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Mining Equipment Market Scope
Mining Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Caterpillar Inc | View profile | 121,173 | 5205 N. O'Connor Boulevard, Suite 100, Irving, TX, United States, 75039 | www.caterpillar.com |
| Komatsu Ltd | View profile | 70,608 | 3-6 Akasaka 2-chome, Minato-ku, Tokyo, Japan, 107-8414 | www.komatsu.jp |
| Epiroc AB DR | View profile | 18,157 | Sickla Industrivag 19, Nacka, Stockholm, Sweden, SE-131 54 | www.epirocgroup.com |
| Metso Corp | View profile | 17,121 | Rauhalanpuisto 9, Helsinki, Finland, 02330 | www.metso.com |
| Liebherr Group | View profile | 10001+ | Biberach An Der Riß, Baden-Wurttemberg, Germany, Europe | www.liebherr.com |
| China Coal Energy Co Ltd Class H | View profile | 47,122 | No. 1 Huangsidajie, Chaoyang District, Beijing, China, People's Republic of, 100120 | www.chinacoalenergy.com |
Norway Mining Equipment Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Mining Equipment Market Outlook will help companies and investors design strategic landscapes.
Surface Mining Equipment was the largest segment with a revenue share of 34.76% in 2025.
Horizon Databook has segmented the Norway 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 the OECD, Norway’s GDP growth rate for 2022 is projected to be 3.5%, reflecting the country’s final phase of recovery following the pandemic. Economic growth has slowed to its long term potential rate of 1.7% by 2023. The elevated uncertainty surrounding commodity prices has increased the risks of inflation in Norway.
The already tight labor market will put additional pressure on wage inflation in Norway. The minerals industry in Norway is typically coastal and regional, with the majority of mining activities taking place in Nordland. The number of employees in this industry has decreased recently, although exports from the country have increased in terms of value significantly.
The production of industrial minerals has increased considerably in this industry in Norway, while the output of stone chips, natural stones, sand, and gravel has grown moderately. The ore extraction in the country has decreased significantly. The greatest olivine mines in the world are in Norway.
- Norway Mining Equipment Market Equipment Type Outlook (Revenue, USD Million , 2021-2033)
- Underground Mining Equipment
- Surface Mining Equipment
- Crushing, Pulverizing & Screening Equipment
- Drills & Breakers
- Others
- Norway Mining Equipment Market Application Outlook (Revenue, USD Million , 2021-2033)
- Metal Mining
- Non-Metal Mining
- Coal Mining
- Norway Mining Equipment Market Power Source Outlook (Revenue, USD Million , 2021-2033)
- Gasoline
- Electric
- Norway Mining Equipment Market Power Output Outlook (Revenue, USD Million , 2021-2033)
- <500 HP
- 500-2000 HP
- >2000 HP
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Horizon Databook provides a detailed overview of country-level data and insights on the Norway Mining Equipment Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Norway Mining Equipment Market Outlook from 2021 to 2033, including revenue numbers, major trends, and company profiles.
Norway Mining Equipment Market, 2021-2033 (US$M)
Norway mining equipment market statistics, by equipment type, 2021-2033 (US$M)
