Mining Equipment Market - Growth, Trends, and Forecast (2019 - 2024)

The Mining Equipment Market is segmented by Type (Surface Mining Equipment, Underground Mining Equipment, and Mineral Processing Equipment), Application (Metal Mining, Mineral Mining, and Coal Mining), and Geography.

Market Snapshot

Market Summary
Study Period:

2018-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

Key Players:

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Market Overview

The mining equipment market is anticipated to record a CAGR of 8.27%, during the forecast period, 2019-2024.

  • Mining, as an industry, involves huge capital investment, of which, over one-third is for equipment.
  • Any country that hosts mining operations is bound to have monetary, labor employment, and local industrial benefits. Of which, equipment and service suppliers accrue the majority, from any particular mining activity in the country.
  • The global mining industry has been witnessing steady growth for the past few years, owing to rise in mining exploration activities and initiation of new mining projects in countries, such as Canada, the United States, Australia, India, Russia, and South Africa.
  • Additionally, with the rise in consumption of base metals and precious metals in numerous applications, the mining activities of these metals have increased, especially in countries, such as Canada and Mexico.
  • Furthermore, the mining industry in the Asia-Pacific region has also been continually growing, particularly in countries, such as Australia, China, and India, in turn, propelling the demand for mining equipment.
  • A transition has been observed from underground to the more economical, open-pit mining, which is expected to drive the demand for mining equipment during the forecast period.
  • Furthermore, the development of high-performance equipment, with increased automation, has made extraction of ores without declining the grades comparatively cheaper, in turn, propelling the growth of the mining equipment market.

 

Scope of the Report

The mining equipment market has been segmented by type, application, and geography.

By Type
Surface Mining Equipment
Underground Mining Equipment
Mineral Processing Equipment
By Application
Metal Mining
Mineral Mining
Coal Mining
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Russia
Rest of Europe
Asia-Pacific
India
China
Japan
Australia
Rest of Asia-Pacific
Rest of the World
Brazil
South Africa
Other Countries

Report scope can be customized per your requirements. Click here.

Key Market Trends

Asia-Pacific to Lead the Mining Equipment Market

Increasing number of mineral exploration sites and the subsequent demand for advanced processing machinery have contributed to the growth in the mineral processing equipment segment of the mining equipment market. The equipment used in mineral mining majorly consist of surface crushers, mineral refining machines, and heavy earthmover equipment, like bulldozers, excavators, dumper trucks, etc.

During 2017-2018, Canada alone had 22% of the active mineral exploration sites across the world, followed by Australia with 20% and Africa with 12%. 

The Canadian mining industry is one of the largest, producing more than 60 minerals and metals. Mining activities in the country have been increasing over the past three years. In 2017, the mining industry alone contributed USD 97 billion toward the country’s GDP. Many of the world’s largest mining companies, such as Barrick Gold, Goldcorp, and Saskatchewan Inc., are headquartered in Canada. In addition to this, the mining industry accounted for 19% of the country's exports. Globally, Canada is ranked as first in the production of potash, second in uranium and niobium, and third in the production of nickel, gemstones, indium, aluminum, and platinum group metals. 

 

 

APAC Market Share

To understand key trends, Download Sample Report

Active Mineral Exploration Sites across the Globe

Increase in the number of mineral exploration sites and the resulting demand for advanced processing machinery have contributed to the growth in mineral processing mining equipment. The equipment used in mineral mining consists of majorly surface crusher, mineral refining machines, and heavy earthmover equipment, like bulldozers, excavators, dumper trucks, etc.

During 2017-18, Canada alone had 22% of the active mineral exploration sites across the world followed by Australia with 20% and Africa with 12%. 

The Canadian mining industry is one of the largest, producing more than 60 minerals and metals. Mining activities in the country have been increasing over the past three years. In 2017, the mining industry alone has contributed a value of USD 97 billion towards the country’s GDP. A significant share of the world’s largest mining companies, such as Barrick Gold, Goldcorp and Saskatchewan Inc., is headquartered in Canada. In addition to this, the mining industry accounted for 19% of the country's exports. Canada also ranks first in the production of Potash, second in Uranium and Niobium and third in production of Nickel, Gemstones, Indium, Aluminum, and Platinum group metals. 

Mining Exploration Sites

To understand geography trends, Download Sample Report

Competitive Landscape

The mining equipment market is characterized by the presence of numerous international and regional players, resulting in a highly competitive market environment. As of 2018, the top-six players accounted for more than 70% of the market share.

Owing to the new thermal power energy projects, the demand for coal mining in China has increased drastically. However, since many small players are already present in China, their inability to purchase new equipment (owing to the lack of required capital) forces them to rent equipment for various projects and return it back to the suppliers. This indicates a rise in the demand for rental markets for mining equipment. The trend is expected to extend to the African and Latin American countries, Indonesia, etc. Some rental companies are also collaborating to expand their product portfolios.

Some of the leading players in the market are Caterpillar, Liebherr-international, Atlas Copco Construction & Mining, Hitachi, Sandvik, Metso Corp., and Outotec. The leading players also have many subsidiaries that operate specifically for certain products and/or in different countries.

 

Major Players

  1. Caterpillar Inc.
  2. Liebherr Group
  3. Atlas Copco
  4. Komatsu Ltd
  5. Hitachi Construction Machinery Co. Ltd

* Complete list of players covered available in the table of contents below

CL

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Introduction

    2. 4.2 Market Trends

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

    4. 4.4 Market Drivers

    5. 4.5 Market Restraints

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Surface Mining Equipment

      2. 5.1.2 Underground Mining Equipment

      3. 5.1.3 Mineral Processing Equipment

    2. 5.2 By Application

      1. 5.2.1 Metal Mining

      2. 5.2.2 Mineral Mining

      3. 5.2.3 Coal Mining

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Russia

        5. 5.3.2.5 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 India

        2. 5.3.3.2 China

        3. 5.3.3.3 Japan

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 Rest of the World

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Other Countries

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Caterpillar Inc.

      2. 6.2.2 Komatsu Ltd

      3. 6.2.3 Liebherr Group

      4. 6.2.4 Sandvik

      5. 6.2.5 Hitachi Construction Machinery Co. Ltd

      6. 6.2.6 Atlas Copco

      7. 6.2.7 Metso Corp.

      8. 6.2.8 Outotec

    3. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. DISCLAIMER

Disclaimer

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please Enter a Valid Message!


Complete your payment details below

Shipping & Billing Information

Payment Information