Mobile Mining Equipment Market Report 2025

The mobile mining equipment market size has grown strongly in recent years. It will grow from $65.33 billion in 2024 to $70.07 billion in 2025 at a compound annual growth rate (CAGR) of 7.2%. The growth during the historical period can be attributed to the rising demand for minerals and metals, the expansion of surface and underground mining activities, increased automation in mining operations, growing energy demand from coal and uranium mining, and the rise in open-pit mining operations.

The mobile mining equipment market size is expected to see strong growth in the next few years. It will grow to $91.44 billion in 2029 at a compound annual growth rate (CAGR) of 6.9%. The growth projected for the forecast period can be attributed to the increasing adoption of electric and hybrid mining equipment, a stronger emphasis on sustainable mining practices, rising demand for rare earth elements, greater investment in smart mining projects, and increased demand for battery metals. Key trends expected in the forecast period include the development of battery-powered haulage equipment, advancements in hydrogen fuel cell applications, integration of real-time fleet management systems, incorporation into smart mine ecosystems, and innovations in tire and undercarriage technologies.

The increasing demand for minerals and metals is expected to drive the growth of the mobile mining equipment market in the coming years. Minerals and metals are naturally occurring substances extracted from the earth and used for various industrial, technological, and economic purposes. This growing demand is fueled by rapid industrialization and urbanization, as expanding cities and industries require large quantities of raw materials for construction, infrastructure, and manufacturing. Mobile mining equipment improves extraction and transportation processes in the minerals and metals sector by boosting operational efficiency, minimizing downtime, and allowing access to remote or difficult terrains. For example, in January 2025, the United States Geological Survey, a US-based scientific government agency, reported that US metal mine production was valued at $33.5 billion in 2024, slightly up from $33 billion in 2023. Consequently, the rising demand for minerals and metals is propelling the growth of the mobile mining equipment market going forward.

Leading companies in the mobile mining equipment market are concentrating on creating innovative solutions such as electric-powered hydraulic excavators to reduce emissions and improve energy efficiency in mining operations. These excavators are heavy-duty machines powered by electric motors instead of diesel engines, used for digging and material handling in mining and construction. For instance, in July 2023, Xuzhou Construction Machinery Group Co. Ltd., a China-based manufacturer, introduced the XES35, a high-performance 1,100-ton electric shovel excavator designed for open-pit mining. Featuring a 35 m³ bucket, it can load up to 65 tons of ore in one cycle and is optimized to operate alongside 220- to 330-ton dump trucks. The XES35 integrates advanced AC frequency conversion drive control and multi-sensor fusion technology, enabling intelligent, efficient, and environmentally friendly operations while emphasizing reliability, operator comfort, and lower operational costs.

In July 2024, Komatsu Limited, a Japan-based manufacturer, acquired GHH Group GmbH for an undisclosed sum. This acquisition aims to strengthen Komatsu Limited’s position in the underground mining equipment market by broadening its product range and enhancing global service capabilities. GHH Group GmbH is a Germany-based manufacturer of mobile mining equipment.

Major players in the mobile mining equipment market are Caterpillar Inc., Komatsu Ltd., Larsen And Toubro Limited, Liebherr-International AG, Atlas Copco AB, Xuzhou Construction Machinery Group Co. Ltd., Sany Group Co. Ltd., Sandvik AB, Bell Equipment Limited, Hitachi Construction Machinery Co. Ltd., Doosan Infracore Co. Ltd., Epiroc AB, Terex Corporation, Wirtgen Group, Astec Industries Inc., Bharat Earth Movers Limited, Normet Group Oy, Mine Master Spółka z o.o., GHH Mining Machines Ltd., and Austin Engineering Ltd.

Asia-Pacific was the largest region in the mobile mining equipment market in 2024. The regions covered in mobile mining equipment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the mobile mining equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s recommendations and conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The rapid escalation of U.S. tariffs and the resulting trade tensions in spring 2025 are significantly impacting the mining sector, particularly in equipment procurement, export activity, and supply chain continuity. Higher duties on imported heavy machinery, drilling equipment, and specialized components have raised capital and operational costs for mining firms, delaying new project launches and limiting production efficiency. At the same time, retaliatory tariffs imposed by key trade partners have reduced export demand for U.S.-mined resources especially critical minerals like lithium, copper, and rare earth elements exacerbating revenue pressures. These dynamics are particularly challenging for mid-sized and specialty mining operators reliant on international markets. In response, the sector is increasingly investing in domestic equipment manufacturing partnerships, expanding recycling initiatives for strategic minerals, and advocating for trade exemptions to restore global competitiveness while ensuring long-term resource security.

Mobile mining equipment consists of heavy machinery designed to move around mining sites to carry out extraction, material handling, and transportation tasks. These machines are engineered for both durability and mobility, allowing for efficient operation in various surface and underground mining settings.

The main types of mobile mining equipment include haul trucks, excavators, loaders and dozers, drills and breakers, among others. Haul trucks are large, heavy-duty vehicles made specifically to transport substantial volumes of materials such as ore, coal, or overburden at mining and construction locations. These machines are powered by diesel, electric, or hybrid systems and are utilized in applications such as coal mining, metal mining, and mineral mining. The equipment caters to different end users, including mining companies, contract miners, government and regulatory agencies, and equipment rental firms.

The mobile mining equipment market research report is one of a series of new reports that provides mobile mining equipment market statistics, including mobile mining equipment industry global market size, regional shares, competitors with a mobile mining equipment market share, detailed mobile mining equipment market segments, market trends and opportunities, and any further data you may need to thrive in the mobile mining equipment industry. This mobile mining equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The mobile mining equipment market consists of sales of top hammer drills, rotary blasthole drills, down-the-hole drills, track loaders, and bulldozers. 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.

This product will be delivered within 1-3 business days.