Asia Pacific Mining Equipment Market Share

Market Share of Asia Pacific Mining Equipment Industry

The Asia-Pacific mining equipment market is moderately fragmented, with few key players vying for market share. Some prominent companies are Caterpillar Inc., Hitachi Ltd, JCB, and SANY Heavy Equipment. Companies are investing heavily in R&D to innovate new and advanced products and technologies. For instance, Caterpillar introduced a trolley assist system for electric drive mining trucks. This innovation is a move toward government and activists’ stringent norms against increasing pollution due to mining activities.

• In March 2023, Volvo Trucks and Boliden, the Swedish mining company, teamed up to launch battery-electric trucks for heavy underground transport in Boliden's Kankberg mine. This initiative aims to promote a more sustainable mining sector and reduce CO2 emissions by more than 25%.
• In March 2023, Ramjack Technology Solutions, a specialized system integrator for advanced technology solutions in the mining sector, announced its expansion into Asia-Pacific. Mining technology veteran Roy Pater was appointed VP of Asia-Pacific and will lead the team from its regional headquarters in Brisbane.

Asia Pacific Mining Equipment Market Leaders

1. Caterpillar Inc

2. Hitachi Ltd

3. AB Volvo

4. Liebherr Group

5. JCB

*Disclaimer: Major Players sorted in no particular order