Mining Equipment Market Report: Trends, Forecast and Competitive Analysis

Posted July 29, 2020 by aswanijaiswal

Trends, opportunities and forecast in mining equipment market to 2023 by product , by application , by function, and by region (North America, Europe, Asia Pacific, and the Rest of the World)

According to a new market report published by Lucintel, the future of the global mining equipment market looks good with opportunities in underground mining and surface mining. The global mining equipment market is expected to reach an estimated $88.7 billion by 2023 with a CAGR 4% from 2018 to 2023. The major drivers for the growth of this market are growth in mining activity, increasing demand of metal and mineral commodities, and rapid urbanization.

Browse 57 market data Tables and 101 Figures spread through 179 Pages and in-depth TOC on “Global Mining Equipment Market

To download report brochure, please go to and click "report brochure" tab from the menu.

In this market, several types of equipment such as underground mining, surface mining, drills and breakers, crushing, pulverizing and screening and mineral processing machineries are used. On the basis of its comprehensive research, Lucintel forecasts that the mineral processing machinery will show above average growth during the forecast period.

Within the global mining equipment market, the surface mining equipment segment is expected to remain the largest market over the forecast period due to rising demand of metal and minerals across the world.

By application type, the mining equipment market is segmented into coal, mineral, and metal. The metal segment is expected to show above average growth during the forecast period due to increasing metal mining activities with large scale urbanization in emerging economies like India and China.

By function type, the mining equipment market is segmented into transportation, processing, and excavation. The transportation segment is expected to show above average growth over the forecast period.

APAC is expected to remain the largest market during the forecast period mainly due to increasing coal and metal exploration activities for power generation and rising metal consumption because of large scale infrastructure development.

Emerging trends which have a direct impact on the dynamics of the industry are underground automation systems for efficient mining, automatic power crushers for crushing and compacting operations, multi-functional excavators for construction and demining functions, use of hybrid electric motors for cost effective operations, and rail-veyor technology for bulk material hauling solutions. Caterpillar, Komatsu, Hitachi Construction Machinery, Atlas Copco, and Sandvik are among the major players of the global mining equipment market.

The study includes a forecast for the global mining equipment market by product, application, function, and region, as follows:

By Product Type ($ Billion from 2012 to 2023)

Underground Mining MachinerySurface Mining MachineryDrills and BreakersCrushing, Pulverizing, and Screening EquipmentMineral Processing MachineryParts and Attachments
By Application Type ($ Billion from 2012 to 2023)

By Function Type ($ Billion from 2012 to 2023)

By Region ($ Billion from 2012 to 2023)

North AmericaEuropeAsia PacificRest of the World
This 179-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or know more about the Global Mining Equipment Market @ or [email protected]

About Lucintel

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit

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Last Updated July 29, 2020