Mine Hoisting System Market To Reach $2,849.9 Million By 2033

November 2025 | Report Format: Electronic (PDF)

Mine Hoisting System Market Growth & Trends

The global mine hoisting system market size is anticipated to reach USD 2,849.9 million by 2033 and is expected to expand at a CAGR of 5.5% from 2025 to 2033, according to a new report by Grand View Research, Inc. The rising demand for minerals and metals has led to deeper mining operations worldwide. These projects require robust and high-capacity hoisting systems to safely transport ore and personnel. Advanced hoists help maintain operational continuity in challenging underground environments.

Mining companies are prioritizing systems that enhance productivity and reduce downtime. Automated hoists with digital monitoring and predictive maintenance capabilities enable smoother operations. Efficient hoisting reduces delays and operational costs. This focus on performance improvement is a key market driver.

Ensuring the safety of miners is a major concern, particularly in deep and complex mines. Modern hoisting systems incorporate advanced safety features, such as controlled braking, emergency stops, and real-time monitoring. These measures minimize accidents and enhance regulatory compliance. Safety considerations are thus accelerating hoist adoption globally.

Rising energy costs and environmental concerns are pushing mines to adopt energy-saving solutions. Hoists with energy-efficient motors, regenerative drives, and optimized control systems help reduce consumption. Sustainable practices also align with global mining regulations. This trend is driving the demand for innovative and eco-friendly hoisting systems.

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Mine Hoisting System Market Report Highlights

Based on product, the friction hoists segment led the market in 2024 owing to its proven reliability, high load capacity, and suitability for deep mining operations. Its low maintenance requirements and compatibility with existing infrastructure further supported widespread adoption. These factors make friction hoists a preferred choice for large-scale mining projects.
Based on end use, the underground mining segment led the market and accounted for 65.1% share in 2024, owing to the growing demand for efficient hoisting solutions in deep mining operations. The need for safe and high-capacity material transport drives adoption. Advanced hoist systems are increasingly deployed to enhance productivity and operational safety in underground mines.
Based on mining type, the non-metallic mineral mining segment led the market in 2024 owing to the extensive extraction of coal, limestone, and other industrial minerals. High demand from the construction and manufacturing sectors supported steady growth. Reliable hoisting systems are widely deployed to ensure efficient material transport in these operations.
In March 2024, RUC Mining, with Rockwell Automation and EPSA, introduced a regenerative energy storage system for underground mine hoists. The solution uses PowerFlex 755TR drives to capture energy during downward hoist movement and reuse it upward. This technology reduces diesel consumption, cuts CO? emissions, and lowers greenhouse gas output. Its implementation demonstrates a significant move toward energy-efficient and sustainable mining operations.

Mine Hoisting System Market Segmentation

Grand View Research, Inc. has segmented the global mine hoisting system market on the basis of product, mining type, power source, end-use, and region.

Mine Hoisting System Product Outlook (Revenue, USD Million, 2021 - 2033)