Market Insights

Mining Machinery Market is likely to witness a CAGR of 4.3% during the forecast period. Surge in demand for metals and electric mining machineries is expected to drive the growth of the market. Furthermore, increasing infrastructure development and construction activities in emerging economies are expected to drive the market growth during the forecast period.

Segments' Analysis

Mining Machinery Market Share: By Propulsion Type

Based on the propulsion type, the market is segmented as diesel and CNG/LNG/RNG. The diesel segment is expected to hold the larger share of the market during the forecast period owing to the use of diesel-operated machineries for surface mining and the presence of a large number of surface mines across the globe. Furthermore, diesel-powered mining machinery provides high torque at low speeds, consumes less fuel, and produces more energy; as a result, diesel is the most commonly used fuel in mining machinery. This is expected to drive the market growth during the forecast period.

Mining Machinery Market Share: By Category Type

Based on the category type, the market is segmented as crushing, pulverizing, screening machinery; mineral processing machinery; surface mining machinery, and underground mining machinery. Electric shovels, drills, hydraulic excavators, mining dozers, mining trucks, and wheeled loaders comprise the underground mining machinery segment. The mining trucks segment is expected to capture the largest share of the market during the forecast period as mining trucks are in high demand because they are used to transport dirt, minerals, metals, and coal.

Mining Machinery Market Share: By Application Type

Based on the application type, the market is segmented as mineral, metal, and coal. The mineral segment is estimated to account for the major share of the market during the forecast period due to the increasing demand for minerals from various industries. Furthermore, the growing demand for electric vehicles, as well as the mining industry's focus on extracting minerals such as nickel, lithium, and cobalt to support the manufacturing of batteries for electric vehicles, is expected to drive the market growth during the forecast period.

Mining Machinery Market Share: By Region

In terms of regions, Asia-Pacific is estimated to be the leading region in the market owing to its abundance of deposits such as Barite, limestone, and several semi-precious gems. Furthermore, rising demand for coal in emerging economies, as well as rapid development in China and India, is expected to fuel the market growth over the forecast period. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

Market Scope & Segmentation

Mining activities are broadly defined as the extraction or physical removal of solid ores, materials, and substances from geological deposits. In the modern mining sector, heavy industry-manufactured vehicles and machineries are used to explore geological deposits of economically-vital and valuable mineral, ore, and chemical substance deposits, develop mines to access the deposits, and remove or mine away the deposits for stockpiling and storage prior to ore and material processing.

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The mining machinery market is segmented into the following categories.

Mining Machinery Market Size, Share, & Forecast, by Category Type:

• Crushing, Pulverizing, Screening Machinery (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Mineral Processing Machinery (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Surface Mining Machinery
  • Regional Analysis: North America, Europe, Asia-Pacific, and RoW
  • Type Analysis: Articulated Dump Trucks, Crawler Dozers, Crawler Excavators, Motor Graders, and Rigid Dump Trucks  
• Underground Mining Machinery
  • Regional Analysis: North America, Europe, Asia-Pacific, and RoW
  • Type Analysis: Drills, Electric Shovels, Hydraulic Excavators, Mining Dozers, Mining Trucks, and Wheeled Loaders

Mining Machinery Market Size, Share, & Forecast, by Propulsion Type:

• Diesel (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• CNG/LNG/RNG (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Mining Machinery Market Size, Share, & Forecast, by Power Output Type:

• Less than 500 HP (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• 500-2,000 HP (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• More than 2,000 HP (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Mining Machinery Market Size, Share, & Forecast, by Autonomous Mining Machinery-Mining Category Type:

• Surface Mining (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Underground Mining (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Mining Machinery Market Size, Share, & Forecast, by Electric Mining Machinery Type:

• Mining Truck (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Load-Haul-Dump Loaders (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Mining Machinery Market Size, Share, & Forecast, by Electric Mining Machinery-Battery Type:

• Lithium-ion (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Lead-acid (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Mining Machinery Market Size, Share, & Forecast, by Application Type:

• Mineral (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Metal (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Coal (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Mining Machinery Market Size, Share, & Forecast, by Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Key Players

Some of the key players in the mining machinery market are-

• Caterpillar INC.
• Komatsu LTD.
• Sandvik AB
• Epiroc AB
• Doosan Corporation
• Liebherr
• Volvo Group
• Hitachi Construction Machinery Co., Ltd.
• JCB
• Sany Heavy Equipment International Holdings Company Limited.

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation by any one of the power output types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.