PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1497725
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1497725
Mining Machinery Market Size and Share Analysis by Machine Category, Application, Propulsion, Power Output - Global Industry Revenue Estimation and Demand Forecast to 2030
Market Overview
The worldwide mining machinery industry was valued at USD 24.2 billion, in 2023 and projected to grow at a rate of 4.0% cumulatively over 2024-2030 to reach a worth of USD 31.6 billion in 2030.
These causes of pollution and contamination are generated from the more mining activities which are needed in the construction of roads, bridges, hospitals and houses, the making of automobiles, computers, and satellites, the generation of power, and many others. All of the necessities of daily living will require all of these. Furthermore, modern tech gadgets of stark mining gears convince it to go higher.
The constantly growing investments in digital mining innovations, with the assistance of governments, will lead to an increase in the demand for sophisticated mining equipment during the period under review. Technological innovations in mining are enabling old mines to extract improved grades of different minerals, resulting in continued operations of these mines for a longer period. Mining is the initial step of the metamorphosis of minerals into goods that are critical for the development and bettering of the standards of living.
Additionally, mining has economic significance as it enables governments to provide dividends, jobs, and taxes. These funds assist governments in building schools, hospitals, and other public amenities. Likewise, it brings in foreign exchange and, in this way, adds up to the GDP of most countries. For example, the service also stimulates various auxiliary activities such as the manufacture and supply of engineering services.
Key Insights
In 2023, the surface mining machinery category led the industry with a share of 60%, propelled by the need for coal, iron, and other vital raw materials.
The diamond market is contributing significantly to nations' GDP and depends heavily on surface mining equipment for effective operations.
Enhanced surface mining machinery provides cost-efficiency and eco-friendliness by removing drilling, blasting, and main crushing processes.
Underground mining machinery grips a substantial industry share, eased by increased activity for resources such as gold, copper, and silver.
Technical improvements in underground mining equipment advance safety and communication, fulfilling the need for minerals needing deeper extraction.
In 2023, the coal mining category led the industry with a 70% share of worldwide revenue, propelled by the need for power.
Thermal power plants utilize coal burning to generate steam to produce power [electricity] at the levels of thousands of Megawatts.
Coal is also employed in the cement and steel industries, taken into consideration in the iron extraction process and cement production.
Heavy equipment like trucks, draglines, hydraulic jacks, conveyors, and shearers are key structural elements of open-cast coal mining enterprises.
Powerhouse coal-producing countries are top consumers of coal mining machinery, mainly Indonesia, China, India, the U.S., and Australia.
In 2023, diesel propulsion dominated the industry, with a projected substantial development rate ahead.
Despite increasing fuel costs, diesel engines are extremely well-organized and lucrative.
In 2023, the APAC region contributed the most revenue at 45% and is projected to uphold this position.
Primary driver of APAC domination is coal-based major countries, including India and China.
Last year, China gained the position of the biggest coal producer, and between India and China, they come to cover 50% of the global coal production.
Moreover, the town of Korba in Chhattisgarh, India, produces more than 130 million tons of coal on an annual basis, which makes its contribution to the overall Indian coal output about one fifth.
Table of Contents
Chapter 1. Research Scope
- 1.1. Research Objectives
- 1.2. Market Definition
- 1.3. Analysis Period
- 1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by machine category
- 1.4.2. Market size breakdown, by application
- 1.4.3. Market size breakdown, by propulsion
- 1.4.4. Market size breakdown, by power output
- 1.4.5. Market size breakdown, by region
- 1.4.6. Market size breakdown, by country
- 1.5. Market Data Reporting Unit
- 1.5.1. Value
- 1.6. Key Stakeholders
Chapter 2. Research Methodology
- 2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
- 2.2. Primary Research
- 2.3. Market Size Estimation
- 2.4. Data Triangulation
- 2.5. Currency Conversion Rates
- 2.6. Assumptions for the Study
- 2.7. Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Voice of Industry Experts/KOLs
Chapter 5. Market Indicators
Chapter 6. Industry Outlook
- 6.1. Market Dynamics
- 6.1.1. Trends
- 6.1.2. Drivers
- 6.1.3. Restraints/challenges
- 6.1.4. Impact analysis of drivers/restraints
- 6.2. Impact of COVID-19
- 6.3. Porter's Five Forces Analysis
- 6.3.1. Bargaining power of buyers
- 6.3.2. Bargaining power of suppliers
- 6.3.3. Threat of new entrants
- 6.3.4. Intensity of rivalry
- 6.3.5. Threat of substitutes
- 6.4. Technology Analysis
- 6.5. Regulatory Framework
Chapter 7. Competitive Landscape
- 7.1. List of Market Players and their Offerings
- 7.2. Competitive Benchmarking of Key Players
- 7.3. Product Benchmarking of Key Players
- 7.4. Recent Strategic Developments
Chapter 8. Global Market
- 8.1. Overview
- 8.2. Market Revenue, by Machine Category (2017-2030)
- 8.3. Market Revenue, by Application (2017-2030)
- 8.4. Market Revenue, by Propulsion (2017-2030)
- 8.5. Market Revenue, by Power Output (2017-2030)
- 8.6. Market Revenue, by Region (2017-2030)
Chapter 9. North America Market
- 9.1. Overview
- 9.2. Market Revenue, by Machine Category (2017-2030)
- 9.3. Market Revenue, by Application (2017-2030)
- 9.4. Market Revenue, by Propulsion (2017-2030)
- 9.5. Market Revenue, by Power Output (2017-2030)
- 9.6. Market Revenue, by Country (2017-2030)
Chapter 10. Europe Market
- 10.1. Overview
- 10.2. Market Revenue, by Machine Category (2017-2030)
- 10.3. Market Revenue, by Application (2017-2030)
- 10.4. Market Revenue, by Propulsion (2017-2030)
- 10.5. Market Revenue, by Power Output (2017-2030)
- 10.6. Market Revenue, by Country (2017-2030)
Chapter 11. APAC Market
- 11.1. Overview
- 11.2. Market Revenue, by Machine Category (2017-2030)
- 11.3. Market Revenue, by Application (2017-2030)
- 11.4. Market Revenue, by Propulsion (2017-2030)
- 11.5. Market Revenue, by Power Output (2017-2030)
- 11.6. Market Revenue, by Country (2017-2030)
Chapter 12. LATAM Market
- 12.1. Overview
- 12.2. Market Revenue, by Machine Category (2017-2030)
- 12.3. Market Revenue, by Application (2017-2030)
- 12.4. Market Revenue, by Propulsion (2017-2030)
- 12.5. Market Revenue, by Power Output (2017-2030)
- 12.6. Market Revenue, by Country (2017-2030)
Chapter 13. MEA Market
- 13.1. Overview
- 13.2. Market Revenue, by Machine Category (2017-2030)
- 13.3. Market Revenue, by Application (2017-2030)
- 13.4. Market Revenue, by Propulsion (2017-2030)
- 13.5. Market Revenue, by Power Output (2017-2030)
- 13.6. Market Revenue, by Country (2017-2030)
Chapter 14. U.S. Market
- 14.1. Overview
- 14.2. Market Revenue, by Machine Category (2017-2030)
- 14.3. Market Revenue, by Application (2017-2030)
- 14.4. Market Revenue, by Propulsion (2017-2030)
- 14.5. Market Revenue, by Power Output (2017-2030)
Chapter 15. Canada Market
- 15.1. Overview
- 15.2. Market Revenue, by Machine Category (2017-2030)
- 15.3. Market Revenue, by Application (2017-2030)
- 15.4. Market Revenue, by Propulsion (2017-2030)
- 15.5. Market Revenue, by Power Output (2017-2030)
Chapter 16. Germany Market
- 16.1. Overview
- 16.2. Market Revenue, by Machine Category (2017-2030)
- 16.3. Market Revenue, by Application (2017-2030)
- 16.4. Market Revenue, by Propulsion (2017-2030)
- 16.5. Market Revenue, by Power Output (2017-2030)
Chapter 17. France Market
- 17.1. Overview
- 17.2. Market Revenue, by Machine Category (2017-2030)
- 17.3. Market Revenue, by Application (2017-2030)
- 17.4. Market Revenue, by Propulsion (2017-2030)
- 17.5. Market Revenue, by Power Output (2017-2030)
Chapter 18. U.K. Market
- 18.1. Overview
- 18.2. Market Revenue, by Machine Category (2017-2030)
- 18.3. Market Revenue, by Application (2017-2030)
- 18.4. Market Revenue, by Propulsion (2017-2030)
- 18.5. Market Revenue, by Power Output (2017-2030)
Chapter 19. Italy Market
- 19.1. Overview
- 19.2. Market Revenue, by Machine Category (2017-2030)
- 19.3. Market Revenue, by Application (2017-2030)
- 19.4. Market Revenue, by Propulsion (2017-2030)
- 19.5. Market Revenue, by Power Output (2017-2030)
Chapter 20. Spain Market
- 20.1. Overview
- 20.2. Market Revenue, by Machine Category (2017-2030)
- 20.3. Market Revenue, by Application (2017-2030)
- 20.4. Market Revenue, by Propulsion (2017-2030)
- 20.5. Market Revenue, by Power Output (2017-2030)
Chapter 21. China Market
- 21.1. Overview
- 21.2. Market Revenue, by Machine Category (2017-2030)
- 21.3. Market Revenue, by Application (2017-2030)
- 21.4. Market Revenue, by Propulsion (2017-2030)
- 21.5. Market Revenue, by Power Output (2017-2030)
Chapter 22. Japan Market
- 22.1. Overview
- 22.2. Market Revenue, by Machine Category (2017-2030)
- 22.3. Market Revenue, by Application (2017-2030)
- 22.4. Market Revenue, by Propulsion (2017-2030)
- 22.5. Market Revenue, by Power Output (2017-2030)
Chapter 23. India Market
- 23.1. Overview
- 23.2. Market Revenue, by Machine Category (2017-2030)
- 23.3. Market Revenue, by Application (2017-2030)
- 23.4. Market Revenue, by Propulsion (2017-2030)
- 23.5. Market Revenue, by Power Output (2017-2030)
Chapter 24. South Korea Market
- 24.1. Overview
- 24.2. Market Revenue, by Machine Category (2017-2030)
- 24.3. Market Revenue, by Application (2017-2030)
- 24.4. Market Revenue, by Propulsion (2017-2030)
- 24.5. Market Revenue, by Power Output (2017-2030)
Chapter 25. Australia Market
- 25.1. Overview
- 25.2. Market Revenue, by Machine Category (2017-2030)
- 25.3. Market Revenue, by Application (2017-2030)
- 25.4. Market Revenue, by Propulsion (2017-2030)
- 25.5. Market Revenue, by Power Output (2017-2030)
Chapter 26. Brazil Market
- 26.1. Overview
- 26.2. Market Revenue, by Machine Category (2017-2030)
- 26.3. Market Revenue, by Application (2017-2030)
- 26.4. Market Revenue, by Propulsion (2017-2030)
- 26.5. Market Revenue, by Power Output (2017-2030)
Chapter 27. Mexico Market
- 27.1. Overview
- 27.2. Market Revenue, by Machine Category (2017-2030)
- 27.3. Market Revenue, by Application (2017-2030)
- 27.4. Market Revenue, by Propulsion (2017-2030)
- 27.5. Market Revenue, by Power Output (2017-2030)
Chapter 28. Saudi Arabia Market
- 28.1. Overview
- 28.2. Market Revenue, by Machine Category (2017-2030)
- 28.3. Market Revenue, by Application (2017-2030)
- 28.4. Market Revenue, by Propulsion (2017-2030)
- 28.5. Market Revenue, by Power Output (2017-2030)
Chapter 29. South Africa Market
- 29.1. Overview
- 29.2. Market Revenue, by Machine Category (2017-2030)
- 29.3. Market Revenue, by Application (2017-2030)
- 29.4. Market Revenue, by Propulsion (2017-2030)
- 29.5. Market Revenue, by Power Output (2017-2030)
Chapter 30. U.A.E. Market
- 30.1. Overview
- 30.2. Market Revenue, by Machine Category (2017-2030)
- 30.3. Market Revenue, by Application (2017-2030)
- 30.4. Market Revenue, by Propulsion (2017-2030)
- 30.5. Market Revenue, by Power Output (2017-2030)
Chapter 31. Company Profiles
- 31.1. Caterpillar Inc.
- 31.1.1. Business overview
- 31.1.2. Product and service offerings
- 31.1.3. Key financial summary
- 31.2. Komatsu Ltd.
- 31.2.1. Business overview
- 31.2.2. Product and service offerings
- 31.2.3. Key financial summary
- 31.3. Sandvik AB
- 31.3.1. Business overview
- 31.3.2. Product and service offerings
- 31.3.3. Key financial summary
- 31.4. Epiroc AB
- 31.4.1. Business overview
- 31.4.2. Product and service offerings
- 31.4.3. Key financial summary
- 31.5. Liebherr-International Deutschland GmbH
- 31.5.1. Business overview
- 31.5.2. Product and service offerings
- 31.5.3. Key financial summary
- 31.6. Hitachi Construction Machinery Co. Ltd.
- 31.6.1. Business overview
- 31.6.2. Product and service offerings
- 31.6.3. Key financial summary
- 31.7. Henan Baichy Machinery Equipment Co. Ltd.
- 31.7.1. Business overview
- 31.7.2. Product and service offerings
- 31.7.3. Key financial summary
- 31.8. Doosan Enerbility Co. Ltd.
- 31.8.1. Business overview
- 31.8.2. Product and service offerings
- 31.8.3. Key financial summary
- 31.9. AB Volvo
- 31.9.1. Business overview
- 31.9.2. Product and service offerings
- 31.9.3. Key financial summary
- 31.10. SANY Group
- 31.10.1. Business overview
- 31.10.2. Product and service offerings
- 31.10.3. Key financial summary
Chapter 32. Appendix
- 32.1. Abbreviations
- 32.2. Sources and References
- 32.3. Related Reports
