Mining Truck Market Report 2026

The mining truck market size has grown strongly in recent years. It will grow from $31.09 billion in 2025 to $33.12 billion in 2026 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to surface mining expansion, demand for high productivity, diesel-powered fleet dominance, mining infrastructure investments, safety improvement initiatives.

The mining truck market size is expected to see strong growth in the next few years. It will grow to $42.14 billion in 2030 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to autonomous mining adoption, electrification of haul trucks, demand for operational efficiency, sustainability mandates, digital mine development. Major trends in the forecast period include expansion of autonomous haulage systems, demand for ultra-high-capacity trucks, integration of telematics and monitoring, focus on fuel efficiency, adoption of electric drive systems.

The rising demand for minerals is expected to drive the growth of the mining truck market going forward. Demand for minerals is increasing due to their critical importance across a wide range of industries, including manufacturing, technology, construction, and renewable energy, all of which contribute to global economic development. Mining trucks play a vital role in mineral extraction by transporting large volumes of mined materials from extraction sites to processing facilities, enabling efficient and large-scale production operations. For example, in January 2024, according to a report published by the U.S. Geological Survey (USGS), a U.S.-based federal scientific agency, U.S. mineral production contributed more than $105 billion to the national economy in 2023, representing an increase of $4 billion compared to 2022. Therefore, the growing demand for minerals is driving the expansion of the mining truck market.

Key companies in the mining truck market are increasingly focused on developing innovative technologies, such as autonomous electric haul trucks, to improve operational efficiency, safety, and sustainability compared with conventional diesel-powered trucks. Driverless electric haul trucks are fully autonomous, battery-powered mining vehicles designed to transport ore and materials without human operators, helping reduce labor costs, lower emissions, enhance safety by minimizing human exposure to hazardous environments, and boost overall productivity. For instance, in June 2025, Xuzhou Construction Machinery Group Co. Ltd., a China-based construction machinery manufacturer, deployed 100 autonomous electric mining trucks in Inner Mongolia. These vehicles feature full electric propulsion, autonomous navigation for unmanned operation, and high payload capacity, making them suitable for large-scale mining operations while delivering benefits such as reduced operating costs, lower environmental impact, and improved operational efficiency.

In July 2024, Komatsu Limited, a Japan-based company specializing in mining, forestry, and military equipment, acquired GHH Group GmbH for an undisclosed amount. This acquisition enables Komatsu to utilize GHH's engineering expertise and accelerate the development of new mining truck technologies. By combining GHH’s specialized knowledge with its own resources, Komatsu aims to advance and improve underground mining trucks. GHH Group GmbH is a Germany-based company that manufactures mining trucks, including articulated dump trucks, for use in underground mining and tunneling.

Major companies operating in the mining truck market report include Caterpillar Inc., Daimler Truck AG, AB Volvo, HD Hyundai Co Ltd, PACCAR Australia Pty Ltd., Komatsu Ltd., Atlas Copco AB, Liebherr-International AG, Doosan Corporation, SANY Group Co Ltd., Scania AB, Sandvik AB, MAN Truck & Bus SE, Hitachi Construction Machinery Co. Ltd., Zoomlion Heavy Industry Science & Technology Co. Ltd., Epiroc AB, Ashok Leyland Ltd., Terex Corporation, Yutong International Holding Co. Ltd., Belarusian Automobile Plant (BelAZ), OJSC Belaz, Bell Equipment Company SA, Dongfeng Liuzhou Motor Co. Ltd., Tata Hitachi Construction Machinery Company Private Limited, Xuzhou Construction Machinery Group Co. Ltd.

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

The mining trucks market consists of sales of ultra-class haul trucks, electric and hybrid haul trucks, rigid-frame haul trucks, and articulated dump trucks. 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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