Global Mining Equipment Market Size, Trends & Growth Opportunity By Type (Crushing, Pulverizing, & Screening Equipment, Mining Drills), By Application (Coal Mining, Mineral Mining, and Metal Mining), By Region and Forecast till 2027

Global Mining Equipment Market Size, Trends & Growth Opportunity By Type (Crushing, Pulverizing, & Screening Equipment, Mining Drills), By Application (Coal Mining, Mineral Mining, and Metal Mining), By Region and Forecast till 2027.

Market Overview

Global Mining Equipment Market was valued at USD 78.78 billion in 2021 which is expected to reach USD 115.22 billion by 2027 at a CAGR 6.49% from 2022-2027.

Mining equipment is used to extract minerals from the earth's surface or beneath, including copper, cobalt, nickel, silver, gold, platinum, lead, and others. In the mining industry, these tools are used for drilling, digging, and loading.

Market Drivers

the primary factor expected to fuel the growth of the global mining equipment market is an increase in investments along with government support for the development of digital mines. Additionally, market growth will benefit from the adoption of various technology clusters like robotics & automation, smart sensors, and 3D mining. For instance, in order to reduce downtime in mining during material processing, ABB Limited launched its new smart sensor with the ability to assess the condition of mounted bearings in January 2019. In addition, increased demand for cutting-edge mining equipment will fuel the expansion of the global mining equipment market over the forecast period.

Market Restraints

The global mining equipment market is expected to experience growth challenges due to the absence of standardization and high production costs. Additionally, environmental and human rights issues will have an impact on market expansion.

Market Segmentation

Global Mining Equipment Market is segmented into type such as Crushing, Pulverizing, & Screening Equipment, Mining Drills and Breakers, Underground Mining Equipment, Surface Mining Equipment, Mineral Processing Equipment, Others. Further, market is segmented into application such as Coal Mining, Mineral Mining, and Metal Mining.

Also, Global Mining Equipment Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific dominated the industry. In the upcoming years, market growth is anticipated to be driven by the growing shift toward clean energy sources and the adoption of electric vehicles in developing nations like China and India. The main factors propelling market growth in North America are rising mineral mining activity, increased use of cutting-edge mining equipment, and government initiatives. In addition, it is anticipated that during the forecast period, the demand for these products will be driven by the switch from conventional underground mining to cutting-edge, economical open-pit mining.

Market Key Players

Various key players are discussed in this report such as ABB Limited, Metso Corporation, Liebherr-International AG, Komatsu Ltd., Hitachi, Ltd., Epiroc AB, Doosan Corporation, Deere & Company, and Caterpillar Inc.

Market Taxonomy

By Type

• Crushing, Pulverizing, & Screening Equipment
• Mining Drills and Breakers
• Underground Mining Equipment
• Surface Mining Equipment
• Mineral Processing Equipment
• Others

• Coal Mining
• Mineral Mining
• Metal Mining

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa