AI-Powered, Eco-Friendly Mining Equipment Drives Growth In $230B Market By 2030

(MENAFN- GlobeNewsWire - Nasdaq) Driven by technological advancements, rising demand for metals like copper, lithium, and cobalt for electric vehicle batteries, and increased mining in emerging economies, the mining equipment industry is evolving. China dominates with a 49% market share, while Europe faces growth challenges. Diesel remains the leading power source, yet hybrid equipment is set for the fastest growth.

Dublin, June 06, 2025 (GLOBE NEWSWIRE) -- The "Mining Equipment - A Global Market Overview" has been added to ResearchAndMarkets.com's offering.
The global Mining Equipment market is projected to grow at a CAGR of 6.9% from 2024 to 2030, reaching an estimated value of US$229.7 billion by 2030, up from US$154.2 billion in 2024.

Key factors driving this growth include increased mining operations in emerging economies, technological advancements, and a rising global demand for metals and minerals. The complexities in accessing resource deposits and declining ore grades have escalated the need for high-performance, specialized equipment, promoting the market for enhanced, eco-friendly machinery.

Additionally, automation and remote monitoring technologies are being integrated into mining operations, increasing the demand for sophisticated equipment.

Artificial Intelligence (AI) integration is transforming the mining industry, primarily through the deployment of autonomous vehicles that enhance safety by minimizing manual operations in dangerous zones. Examples include electric mining trucks operating in hazardous areas to collect and dump materials more efficiently while improving workforce safety.

Furthermore, AI-driven sorting systems improve recovery rates by distinguishing valuable minerals from waste, while autonomous robots increasingly conduct surveys, excavations, and material processing.

Regional Market Analysis

China leads the global Mining Equipment market with a projected 49% share in 2024 and is expected to exhibit the fastest growth through 2030. The nation hosts over 1,500 mining operations, generating an estimated annual output of US$400 billion.

Government initiatives over the past decade have promoted the development of sustainable mining practices, boosting production across various mineral categories. Urbanization and industrialization in China have further amplified the demand for mining equipment.

Conversely, the European market, particularly in Russia and Ukraine, is anticipated to grow at a slower pace due to ongoing military conflicts and resultant economic sanctions impacting mining operations. Russia is seeking alternative equipment supplies from China and allied nations to sustain its mining activities.

Market Report Scope

This report analyzes the Mining Equipment market, considering equipment type, power source, and application from 2021 to 2030, with projections from 2024 to 2030. Profiles of major players and recent developments are included to provide a comprehensive view of market dynamics.

Market Analysis by Type

Surface Mining Equipment dominates with an estimated 38.5% share in 2024, including mining trucks, hydraulic excavators, and more, used in open-pit mining. Meanwhile, Drills & Breakers are expected to see the fastest growth, driven by increased demand for effective mineral and metal extraction tools.

Market Analysis by Power Source

Diesel is the predominant power source, cornering over 80% of the market in 2024, especially where grid reliability is an issue. Hybrid-powered equipment, combining diesel engines with electric motors, is set to be the fastest-growing segment due to its efficiency in energy use and reduced transmission losses.

Market Analysis by Application

Metal Mining applications are the largest and fastest-growing sector, driven by demand for metals like copper and lithium, crucial for infrastructure, automotive, and electronics industries. Despite environmental concerns, mining is critical in sourcing minerals for technologies that reduce emissions, such as electric vehicles, sustaining its growth trajectory.

Key Metrics

• Historical Period: 2021-2023
• Base Year: 2024
• Forecast Period: 2024-2030
• Units: Value market in US$
• Companies Mentioned: 30+

Companies Featured

• Aard Mining Equipment
• AB Volvo
• Astec Industries, Inc.
• Atlas Copco AB
• BelAZ
• Bell Equipment Ltd
• Bharat Earth Movers Ltd (BEML)
• Boart Longyear Ltd
• Caterpillar, Inc.
• China Coal Energy Group Co Ltd
• CNH Industrial NV
• Deere & Co
• Doosan Corp
• Epiroc AB
• FLSmidth & Co A/S
• Guangdong Leimeng Intelligent Equipment Group Co Ltd
• Henan Baichy Machinery Equipment Co Ltd
• Hitachi Construction Machinery Co Ltd
• Hyundai Heavy Industries Co Ltd
• J.C. Bamford Excavators Limited
• JCB
• Joy Global, Inc.
• Kobelco Construction Machinery Co Ltd
• Komatsu Mining Corp
• Liebherr-International AG
• MacLean Engineering & Marketing Co Ltd
• Metso Corp
• Mine Master Ltd
• Sandvik AB
• Sany Group Co Ltd
• Terex Corp
• The Weir Group PLC
• ThyssenKrupp AG
• Vipeak Mining Machinery Co Ltd
• Wirtgen Group Holding GmbH
• Xuzhou Construction Machinery Group Co Ltd (XCMG)
• Zhengzhou Coal Mining Machinery Group Co Ltd
• Zoomlion Heavy Industry Science & Technology Development Co Ltd

Key Attributes:

Report Attribute	Details
No. of Pages	314
Forecast Period	2024 - 2030
Estimated Market Value (USD) in 2024	$154 Billion
Forecasted Market Value (USD) by 2030	$230 Billion
Compound Annual Growth Rate	6.9%
Regions Covered	Global

Key Topics Covered:
PART A: GLOBAL MARKET PERSPECTIVE
1. Introduction

• Mining Equipment Outline
• Mining Equipment Defined
• Type of Mining Equipment

2. Key Market Trends

3. Key Global Players

4. Key Business & Product Trends

5. Global Market Overview

• Global Mining Equipment Market Overview by Type
• Mining Equipment Type Market Overview by Global Region
• Mining Equipment Market by Power Source
• Mining Equipment Market by Application

PART B: REGIONAL MARKET PERSPECTIVE

• Global Mining Equipment Market Overview by Geographic Region

REGIONAL MARKET OVERVIEW
6. North America

• North American Mining Equipment Market Overview by Geographic Region
• Country-wise Analysis of North American Mining Equipment Market

7. Europe

• European Mining Equipment Market Overview by Geographic Region
• Country-wise Analysis of European Mining Equipment Market

8. China

9. Asia-Pacific (Excl China)

• Asia-Pacific Mining Equipment Market Overview by Geographic Region
• Country-wise Analysis of Asia-Pacific Mining Equipment Market

10. Latin America

• Latin American Mining Equipment Market Overview by Geographic Region
• Country-wise Analysis of South American Mining Equipment Market

11. Rest of World

• Rest of World Mining Equipment Market Overview by Geographic Region
• Country-wise Analysis of Rest of World Mining Equipment Market

PART C: GUIDE TO THE INDUSTRY
PART D: ANNEXURE
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Attachment

• Mining Equipment Market

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