Global Mining Equipment Market - Growth, Trends, and Forecast (2018 - 2023)

SKU ID : INH- 12345187

Publishing Date : 18-Mar-2018

No. of pages : 90

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  • The mining industry has witnessed a severe downfall since its peak in 2011 and has plunged about 73%, accounting for nearly USD 1.4 trillion shareholding value until late 2016. However, the industry is currently experiencing a positive phase, with commodity prices rising and augmenting the demand for raw materials. Majorly, mining of high priced metals like gold, copper, and other ores are expected to drive the market.

    The ever-increasing demand for these materials has caused the mining equipment manufacturers to come up with better and more advanced equipment. The mining equipment manufacturers can look at opportunities, like the automation of machinery to attract customers for capturing the largest share of the market. The market is driven by the growing resource exploration and augmenting demand for raw materials.

    Mining, as an industry, deploys substantial capital investment and among the total, over 1/3rd is for mining equipment. Any country which hosts mining operations is bound to have monetary, labor employment, and local industry benefits. Among the beneficiaries, equipment and service suppliers are the largest ones, accounting for about 69% of the benefits from any particular mining activity in the country. The value indicates a prolific market for mining equipment in the global scenario.

    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 with declining grades comparatively cheaper. For example, Ericson, along with ABB and Volvo, use 5G technology, with which they run loaders and excavators through the Kankberg mine in Boliden, Sweden. These equipment are fully automated and also pave the way for further adoption of automated machinery in mines, globally.

    Owing to the new projects of thermal power energy, the demand for coal mining in China has increased drastically. However, as many small players are present in China, the inability of these players to purchase new equipment (owing to the lack of required capital) forces them to rent equipment for various projects and return it 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 joining hands to increase their product portfolio. For instance, Emeco has merged with Orionstone and Andy’s Earthmovers and has increased the fleet size to approximately 730 machines. The dependent markets (related to mining equipment), like OTR tire market, paints & coatings market, are also poised to record a stipulated growth.

    Key Developments in the Market:

    • February 2018: RDH Mining Equipment, a Sudbury-area manufacturer of underground mining equipment, was sold to Germany company SMT Scharf AG for $8 million
    • April 2017: Komatsu completed the acquisition of Joy Global, a surface and underground mining equipment manufacturer for USD 3.7 billion. From now on, Joy Global will be referred to as Komatsu mining group

    Major Players: CATERPILLAR INC., KOMATSU LTD., LIEBHERR GROUP, SANDVIK MININ, HITACHI LTD., ATLAS COPCO, METSO CORP., amongst others.

    Reasons to Purchase this Report

    • To know whether the decline in coal mining, owing to weak metallurgical and thermal coal prices, along with cheaper natural gas and existing stockpiles of coal may hinder the market’s growth
    • To know about the effects of the acquisition of Joy global, on the mining equipment market
    • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
    • Study on the region expected to witness the fastest growth during the forecast period
    • Identifying the latest developments, market shares, and strategies employed by the major market players
    • 3-month analyst support, along with the Market Estimate sheet in excel

    Customization of the Report

    This report can be customized to meet the desired requirements. Please connect with our analyst, who will ensure you get a report that suits your needs

    Frequently Asked Questions



    This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.

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    The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
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