Global Underground Mining Equipment Market 2024-2028

Underground Mining Equipment Market 2024-2028


The underground mining equipment market is forecasted to grow by USD 7.12 bn during 2023-2028, accelerating at a CAGR of 4.5% during the forecast period. The report on the underground mining equipment market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by availability of efficient and safe underground mining equipment, rising demand for precious metals, and growing demand for cobalt owing to increasing adoption of electric vehicles.

Technavio's underground mining equipment market is segmented as below:
  • By Application
  • Room and pillar mining
  • Longwall mining
  • Borehole mining
  • Others
  • By Geographical Landscape
  • APAC
  • North America
  • Europe
  • South America
  • Middle East and Africa
This study identifies the technological advances in underground mining equipment as one of the prime reasons driving the underground mining equipment market growth during the next few years. Also, increasing focus on conserving environment and emission control and increased use of artificial intelligence (AI), deep learning (DL), and machine learning (ML) technologies will lead to sizable demand in the market.

The report on the underground mining equipment market covers the following areas:
  • Underground Mining Equipment Market sizing
  • Underground Mining Equipment Market forecast
  • Underground Mining Equipment Market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading underground mining equipment market vendors that include AB Volvo, Atlas Copco AB, Boart Longyear Ltd., Caterpillar Inc., CME Blasting and Mining Equipment Ltd, CMM Cocental SAS, FURUKAWA Co. Ltd., Guizhou Sinodrills Equipment Co. Ltd, Hitachi Construction Machinery Co. Ltd., Kennametal Inc., Komatsu Ltd., Mindrill Systems and Solutions Pvt. Ltd., Resemin SA, REVATHI EQUIPMENT Ltd, ROCKMORE International Inc., Sandvik AB, Schmidt Kranz and Co Gmbh, Sulzer Ltd., TEI Rock Drills, and Yantai Jiaxiang Mining Machinery Co Ltd. Also, the underground mining equipment market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.


  • Executive Summary
    • Market overview
      • Table Executive Summary - Data Table on Market Overview
      • Table Executive Summary - Data Table on Incremental Growth
  • Market Landscape
    • Market ecosystem
      • Table Data Table on - Parent Market
    • Market characteristics
    • Value chain analysis
  • Market Sizing
    • Market definition
    • Market segment analysis
    • Market size 2023
    • Market outlook: Forecast for 2023-2028
      • Table Data Table on Global - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on Global Market: Year-over-year growth 2023-2028 (%)
  • Historic Market Size
    • Global Underground Mining Equipment Market 2018 - 2022
      • Table Historic Market Size - Data Table on Global Underground Mining Equipment Market 2018 - 2022 ($ million)
    • Application segment analysis 2018 - 2022
    • Geography segment analysis 2018 - 2022
    • Country segment analysis 2018 - 2022
  • Five Forces Analysis
    • Five forces summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition
  • Market Segmentation by Application
    • Market segments
      • Table Data Table on Application - Market share 2023-2028 (%)
    • Comparison by Application
      • Table Data Table on Comparison by Application
    • Room and pillar mining - Market size and forecast 2023-2028
      • Table Data Table on Room and pillar mining - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on Room and pillar mining - Year-over-year growth 2023-2028 (%)
    • Longwall mining - Market size and forecast 2023-2028
      • Table Data Table on Longwall mining - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on Longwall mining - Year-over-year growth 2023-2028 (%)
    • Borehole mining - Market size and forecast 2023-2028
      • Table Data Table on Borehole mining - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on Borehole mining - Year-over-year growth 2023-2028 (%)
    • Others - Market size and forecast 2023-2028
      • Table Data Table on Others - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on Others - Year-over-year growth 2023-2028 (%)
    • Market opportunity by Application
      • Table Data Table on Market opportunity by Application ($ million)
  • Customer Landscape
    • Customer landscape overview
  • Geographic Landscape
    • Geographic segmentation
      • Table Data Table on Market share by geography 2023-2028 (%)
    • Geographic comparison
      • Table Data Table on Geographic comparison
    • APAC - Market size and forecast 2023-2028
      • Table Data Table on APAC - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on APAC - Year-over-year growth 2023-2028 (%)
    • North America - Market size and forecast 2023-2028
      • Table Data Table on North America - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on North America - Year-over-year growth 2023-2028 (%)
    • Europe - Market size and forecast 2023-2028
      • Table Data Table on Europe - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on Europe - Year-over-year growth 2023-2028 (%)
    • South America - Market size and forecast 2023-2028
      • Table Data Table on South America - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on South America - Year-over-year growth 2023-2028 (%)
    • Middle East and Africa - Market size and forecast 2023-2028
      • Table Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
    • China - Market size and forecast 2023-2028
      • Table Data Table on China - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on China - Year-over-year growth 2023-2028 (%)
    • US - Market size and forecast 2023-2028
      • Table Data Table on US - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on US - Year-over-year growth 2023-2028 (%)
    • Russia - Market size and forecast 2023-2028
      • Table Data Table on Russia - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on Russia - Year-over-year growth 2023-2028 (%)
    • India - Market size and forecast 2023-2028
      • Table Data Table on India - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on India - Year-over-year growth 2023-2028 (%)
    • Australia - Market size and forecast 2023-2028
      • Table Data Table on Australia - Market size and forecast 2023-2028 ($ million)
      • Table Data Table on Australia - Year-over-year growth 2023-2028 (%)
    • Market opportunity by geography
      • Table Data Tables on Market opportunity by geography ($ million)
  • Drivers, Challenges, and Opportunity/Restraints
    • Market drivers
      • Availability of efficient and safe underground mining equipment
      • Rising demand for precious metals
      • Growing demand for cobalt owing to increasing adoption of electric vehicles
    • Market challenges
      • High cost of underground mining equipment
      • Stringent regulatory environment
      • Reduction in metal prices
    • Impact of drivers and challenges
    • Market opportunities/restraints
      • Technological advances in underground mining equipment
      • Increasing focus on conserving environment and emission control
      • Increased use of artificial intelligence (AI), deep learning (DL), and machine learning (ML) technologies
  • Competitive Landscape
    • Overview
    • Competitive Landscape
    • Landscape disruption
    • Industry risks
  • Competitive Analysis
    • Companies profiled
    • Market positioning of companies
    • Atlas Copco AB
    • Boart Longyear Ltd.
    • Caterpillar Inc.
    • FURUKAWA Co. Ltd.
    • Guizhou Sinodrills Equipment Co. Ltd
    • Hitachi Construction Machinery Co. Ltd.
    • Kennametal Inc.
    • Komatsu Ltd.
    • Resemin SA
    • Sandvik AB
  • Appendix
    • Scope of the report
      • Market definition
      • Objectives
      • Notes and caveats
    • Inclusions and exclusions checklist
    • Currency conversion rates for US$
    • Research methodology
    • Data procurement
    • Data validation
    • Validation techniques employed for market sizing
    • Data synthesis
    • 360 degree market analysis
    • List of abbreviations

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