Mining Equipment Market Size, Share & Trends Report

Mining Equipment Market Size, Share & Trends Analysis Report By Product (Crushing Equipment, Drills & Breakers, Mineral Processing Machinery, Surface Equipment), By Application, And Segment Forecast, 2018 - 2025

  • Published Date: Apr, 2018
  • Base Year for Estimate: 2015
  • Report ID: 978-1-68038-017-0
  • Format: Electronic (PDF)
  • Historical Data: 2014
  • Number of Pages: 144

Industry Insights

The global mining equipment market size was valued at USD 73.04 billion in 2016 and is expected to register a CAGR exceeding 6.0% over the forecast period. Rapid adoption of automation technology has resulted in increased usage of smart mining solutions. Growing exploration capabilities and falling costs of robotics technology are allowing companies to replace conventional mining methods.

U.S. mining equipment market

Moreover, vendors are increasing their investments in research and development (R&D) activities to improve machine operations and efficiency. Manufacturers are incorporating solutions such as Computer Aided Earthmoving Systems (CAES), AccGrade, and Grade Control System to existing equipment to enhance their product offerings.

Increasing trend of transitioning to digital mining is providing an impetus to industry growth. Mining sites are adopting automated vehicles, drones, and wearable technologies, most of which use Internet of Things (IoT) sensors to capture data in real time. An excellent example is Rio Tinto Group, who has implemented 3D mapping at the West Angelas mine to improve mine exploration activities.

High machinery cost and lack of skilled personnel are expected to negatively impact industry growth over the forecast period. In addition, high maintenance costs, growth in illegal mines, and lack of proper training to handle automated equipment are expected to pose a challenge to market growth.

Product Insights

Mining drills and breakers accounted for a revenue share of 10.8% in 2016. Surging demand for underground exploration of minerals, coal, and metals is expected to positively impact industry growth. Growth of robust technology-based effective drilling solutions is also expected to boost the market.

Swift changes in energy efficiency regulations by several governments have enabled key players to make use of energy-efficient underground mining equipment. Differences in import duties, socio-economic implications pertaining to mining, high cost of preventive maintenance and tariff restrictions, commodity price volatility, and rising environmental and health concerns may challenge market growth. Renting or leasing of equipment activity is expected to offer opportunities for mining drills and breakers over the next few years.

Application Insights

The metal mining application is presumed to remain dominant over the forecast period and accounted for a revenue share of over 35.0% in the mining equipment market in 2016. Increasing resource mining and exploration activities are expected to contribute significantly to segment growth. Moreover, rising demand for base metals such as copper, gold, platinum, and silver is expected to contribute to revenue growth.

Global mining equipment market

Coal mining has contributed significantly to industry growth in 2016. Use of coal in electricity generation is propelling demand in Asian countries such as China and India. Moreover, various equipment used in coal exploration have expanded their purposes and adoption with booming excavation of coal in recent years. This has led to a surge in production and price of coal in U.S., thereby providing growth avenues.

Regional Insights

Asia Pacific emerged as the leading regional market, accounting for over 60.0% of the industry in 2016, owing to presence of robust economies such as India, China, and Australia. With increasing demand for minerals and mining services, India is among the fastest-growing economies in the region. Additionally, government efforts to consolidate coal mining companies are expected to open growth avenues in the near future.

Enhanced demand for consumption of natural resources is boosting equipment demand in Latin America and MEA regions. Additionally, foreign investments from Canada, Australia, China, and U.S. are expected to have positive implications on revenue growth. Untapped mining exploration areas offer ample opportunity for industry growth in the MEA region.

Mining Equipment Market Share Insights

Key industry players include Atlas Copco AB.; Caterpillar Inc.; Komatsu Ltd.; Sandvik AB; Metso Corporation; and Joy Global Inc. Equipment manufacturers are concentrating on improving efficiency and productivity, along with reducing operational costs to maintain profit margins. For example, Caterpillar Inc. is amalgamating its plants to ensure sharing of common resources.

Providers are focussing on offering automation technology in the wake of the emergence of digital mining solutions to accelerate and change the industry landscape. Use of automated equipment has considerably increased safety at mines, decreased expenses, and resulted in higher profits. Furthermore, changing customer focus from capacity expansion to energy efficiency has enabled key players to offer highly efficient equipment.

Report Scope



Base year for estimation


Actual/Historical data


Forecast period


Market representation

Market revenue in USD Billion, CAGR from 2016 to 2025

Regional scope

North America, Europe, Asia Pacific, RoW

Country scope

U.S., Canada, U.K., Germany, China, India

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global mining equipment market report based on product, application, and region:

  • Product Outlook (Revenue, USD Billion, 2014 - 2025)

    • Mining Drills & Breakers

    • Crushing, Pulverizing, & Screening Equipment

    • Mineral Processing Machinery

    • Surface Mining Equipment

    • Underground Mining Equipment

    • Others

  • Application Outlook (Revenue, USD Billion, 2014 - 2025)

    • Metal Mining

    • Mineral Mining

    • Coal Mining

  • Regional Outlook (Revenue, USD Billion, 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • China

      • India

    • Rest of the World (RoW)

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