Mining Equipment Market Report 2026

The mining equipment market size has grown strongly in recent years. It will grow from $157.76 billion in 2025 to $169.77 billion in 2026 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to growth in coal mining activities, expansion of surface mining operations, demand for higher excavation productivity, increased investments in mineral exploration, mechanization of underground mining.

The mining equipment market size is expected to see strong growth in the next few years. It will grow to $226.98 billion in 2030 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to rising demand for critical minerals, electrification of mining fleets, automation to reduce labor risks, stricter mine safety regulations, growth in metal mining projects. Major trends in the forecast period include growing adoption of autonomous mining equipment, rising demand for electrified mining machinery, increased focus on safety-enhanced heavy equipment, expansion of high-capacity surface mining equipment, rising use of advanced crushing and processing systems.

The expected increase in infrastructure investment is set to drive the growth of the mining equipment market in the near future. Infrastructure refers to the essential systems and structures that enable the smooth operation of societies, economies, or organizations. Mining equipment heavily depends on solid infrastructure for optimal performance in areas such as transportation, processing, safety measures, environmental management, and community development within mining activities. For example, in July 2024, the Office for National Statistics, a UK-based government department, reported that infrastructure investment reached £13.8 billion ($17.25 billion) in constant prices in 2023, marking a 3.9% increase from 2022. This significant rise in infrastructure investment serves as a crucial driver propelling the growth of the mining equipment market.

Prominent players within the mining equipment sector are strategically unveiling cutting-edge solutions, particularly mining machinery offerings, to secure a competitive advantage. Mining machinery products encompass a spectrum of equipment and machinery pivotal in mineral and metal extraction processes from the earth's reserves. Notably, in April 2023, XCMG (Xuzhou Construction Machinery Group Co., Ltd.), a leading Chinese construction machinery enterprise, introduced three groundbreaking innovations such as the XE690DK mining excavator, the XDR80TE-AT autonomous electric dump truck, and the XDE240 mining dump truck. The XE690DK mining excavator integrates an efficient power system, tailored to deliver eco-friendly and energy-conserving solutions for rigorous construction demands. Meanwhile, the XDR80TE-AT autonomous electric dump truck is equipped with a suite of sensors - visual, acoustic, laser radar, millimeter-wave radar, and cameras - ensuring enhanced operational capabilities. Complementing these advancements, the XDE240 mining dump truck features state-of-the-art environmental sensors, coupled with navigation and positioning functionalities.

In July 2024, Komatsu Ltd., a Japan-based manufacturer of construction, mining, and military equipment, acquired GHH Group GmbH for an undisclosed sum. This acquisition is expected to leverage combined resources with GHH to strengthen and expand Komatsu's portfolio in underground mining equipment, including loaders (LHDs) and articulated dump trucks, while accelerating new product development. GHH Group GmbH, based in Germany, specializes in the manufacture of underground mining, tunneling, and civil engineering equipment.

Major companies operating in the mining equipment market are Caterpillar Inc., Deere & Company, Hitachi Construction Machinery Co. Ltd., Komatsu America Corp, Liebherr-International AG, Metso Oyj, Sandvik AB, Epiroc Mining Equipment, Boart Longyear Ltd., Vipeak Mining Machinery Co. Ltd., Guangdong Leimeng Intelligent Equipment Group Co. Ltd., Henan Baichy Machinery Equipment Co. Ltd., Doosan Infracore Co. Ltd., Atlas Copco Ltd., Zhengzhou Coal Mining Machinery Group Co. Ltd., Thyssenkrupp AG, Bell Equipment Company South Africa, FLSmidth And Co. A/S, H-E Parts International LLC, Paus GmbH, IZ-Karteks imeni P.G. Korobkova OOO, Tenova Mining And Minerals, Mine Master Ltd., CMM Equipments, Osborn Engineered Products SA Pty. Ltd., Normet Group, MacLean Engineering And Marketing Co. Limited.

Asia-Pacific was the largest region in the mining equipment market in 2025. Asia-Pacific is expected to be the fastest-growing region in the global mining equipment market report during the forecast period. The regions covered in the mining equipment market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the mining equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The mining equipment market consists of sales of draglines, motor graders, rock drills and diggers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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