Top Mining Equipment Companies

Global Mining Equipment Market size was valued at USD 150.48 Billion in 2024 and is poised to grow from USD 158.91 Billion in 2025 to USD 245.73 Billion by 2033, growing at a CAGR of 5.6% during the forecast period (2026–2033). 

Mining equipment manufacturers employ a variety of strategies, such as mergers, acquisitions, collaborations, new product development, and geographical expansion, to increase market penetration and meet changing scientific demand for equipment used in metal mining, nonmetal mining, and coal extraction. For example, in September 2022, Epiroc debuted the Boomers E10 and E20 drill rigs. The drill rigs have automated technology that enhance worker security and efficiency, as well as an extra battery-electric driveline for lesser environmental impact and better subsurface conditions. 'Caterpillar Inc. (USA) ', 'Komatsu Ltd. (Japan) ', 'Sandvik AB (Sweden) ', 'Epiroc AB (Sweden) ', 'Liebherr Group (Switzerland) ', 'Hitachi Construction Machinery Co., Ltd. (Japan) ', 'FLSmidth & Co. A/S (Denmark) ', 'Weir Group PLC (UK) ', 'Metso Corporation (Finland) ', 'ThyssenKrupp AG (Germany) ', 'Siemens AG (Germany) ', 'ABB Ltd. (Switzerland) ', 'Hexagon AB (Sweden) ', 'Boart Longyear (USA) ', 'Austin Engineering Ltd (Australia) ', 'Joy Global (Now Komatsu Mining Corp.) (USA) ', 'PACCAR Inc (USA) ', 'Normet Group Oy (Finland) ', 'Rolls-Royce plc (UK) ', 'John Deere (Germany) '

The utilization of diesel engines in underground mining equipment poses numerous challenges, including heightened noise levels, increased heat emissions, and the release of pollutants, all of which contribute to unfavorable working environments. Moreover, the installation of diesel-powered machinery demands sufficient ventilation systems to manage emissions. In contrast, the adoption of electric mining machinery or battery-operated equipment presents a solution that enhances safety within these settings.

Automation and digitization: Automation and digitization are becoming increasingly important in the mining industry, with the adoption of technologies such as autonomous drilling and hauling, real-time data monitoring, and predictive maintenance.

By 2032, the Asia Pacific mining equipment market is projected to achieve a substantial revenue milestone of USD 70 billion, driven by the rapid integration of automated solutions and the continual modernization of mining methodologies. This region boasts a formidable array of coal and metal mining ventures, effectively catering to the escalating industrial demand for essential metals and minerals.