[Latest] Global Surface Mining Equipment Market Size/Share Worth USD 103.10 Billion by 2033 at a 7.10% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth, Growth Rate, Value)

Austin, TX, USA, Jan. 15, 2025 (GLOBE NEWSWIRE) — Custom Market Insights has published a new research report titled Surface Mining Equipment Market Size, Trends and Insights By Equipment Type (Mining Drills and Breakers, Crushing, Pulverizing, and Screening Equipment, Excavators, Loaders, Dozers, Haul Trucks, Others), By Mineral Type (Metallic Ore Mining, Non-metallic Ore Mining, Coal Mining), By Application (Mining, Infrastructure, Others), By End-user (Mining Companies, Construction Companies, Government Agencies, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033 in its research database.

“According to the latest research study, the demand of global Surface Mining Equipment Market size & share was valued at approximately USD 55.61 Billion in 2023 and is expected to reach USD 59.6 Billion in 2024 and is expected to reach a value of around USD 103.10 Billion by 2033, at a compound annual growth rate (CAGR) of about 7.10% during the forecast period 2024 to 2033.”

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Surface Mining Equipment Market: Growth Factors and Dynamics

The Surface Mining Equipment Market presents significant growth opportunities due to several factors:

  • Increasing Demand for Minerals and Metals: The increasing demand for minerals and metals of the global population resulting from industrialization and urbanization increases the demand for machines that can surface mine with efficiency.
  • Preference for Advanced Mining Techniques: As it will be seen in the discussion, there is a gradual shift from merely adopting progressive mining methods to superior methods that offer efficacy, security, and strength in resource exp Mai/Fav 30, 2014 on the environment.
  • Technological Advancements: New technologies and or variations thereof in surface mining equipment such as intelligent systems for automation, real time monitoring and energy efficiency are increasing the efficiency and safe mining practices.
  • Supportive Government Initiatives and Policies: Government encouragement, higher expenditure on surface mines, and business-friendly policies for environmentally friendly mining are acting as agents motivating the application of superior tools in surface mines.
  • Growing Awareness and Acceptance: The elements stimulating the overall demand for more sophisticated mining methods involve educational campaigns and sponsors from such areas as machinery science.
  • Expansion of Mining Operations: The growth in mining companies especially in the emerging markets is putting pressure on equipment manufactures for better and effective surface mining tools.
  • Integration with Advanced Technologies: Surface mining equipment is also being linked with artificial intelligence/ machine learning strategies for optimizing operational schemes, tracking and real-time controlling, and resources usage to improve proficiency.
  • Aging Workforce: This has resulted in the mining workforce ageing and the mining industry therefore requiring technologies good enough to help overcome physical burdens and hazards, to attract young talent to the mining workforce.
  • Increased Research and Development: The increased funding of research and development activities from the leading market participants as well as the emergence of innovative process applications and enhancements of the currently available technologies to increase operational capacity is further driving the growth of this market.
  • Environmental and Regulatory Pressures: The rising importance of green mining and enhanced environmental standards are some factors that are acting as the foundation for green mining equipment.

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Surface Mining Equipment Market: New Product Launch

  • In July 2024, Manheim Australia is preparing its latest national multi-vendor mining auction in conjunction with Lennon Heavy Equipment, with a range of heavy machines up for grabs online for one week starting July 25 at 3pm. Assets including dump trucks, excavators, bulldozers, graders, loaders, surface miners, conveyors, forklifts, buckets, prime movers, utes and generators will be available to bid on, with the digital auction ending at 3pm on July 31.
  • In April 2024, MEVCO (Mining Electric Vehicle Company) has entered an exclusive global partnership with Rivian Automotive, Inc. to provide EVs to the mining, mining services and mining equipment industries. MEVCO specializes in providing sustainable and efficient electric vehicle fleets solutions to the mining industry. This collaboration signals a new standard for responsible and forward-thinking mining practices, and is a catalyst for positive change in the mining landscape.
  • In April 2024, Epiroc launched SmartROC T30 R, a surface radio remote drill rig, built on the same flagship platform as newly released SmartROC T25 R. The construction and quarrying rig is equipped with the Epiroc Rig Control System (RCS), which enables the highest technology and automation level within the segment. The T30 R’s automated features, together with 19 kW drilling power, a wide coverage area and optimal terrainability, provide the operator with more drilled metres per shift. New SmartROC T30 R is now joining SmartROC T25 R, both built on the same flagship platform for surface drill rigs. The powerful model with 19 kW drilling power, developed for construction and quarrying, will provide operators with the highest technology and automation level within its segment, making everyday life easier for the operator.
  • In January 2024, Komatsu is set to introduce its new underground hard rock mining machinery at the Investing in African Mining Indaba. Expanding its portfolio, Komatsu, known for opencast mining equipment, ventured into underground mining with the 2017 acquisition of Joy Global. Now, they are debuting equipment like the Komatsu WX07 wheel loader, ZJ21 jumbo drill rig, and ZB21 medium-class bolter for the African market. Komatsu’s innovative equipment features a shared platform for easy conversion between drilling and bolting tasks, enhancing operational efficiency.

Report Scope

Feature of the Report Details
Market Size in 2024 USD 59.6 Billion
Projected Market Size in 2033 USD 103.10 Billion
Market Size in 2023 USD 55.61 Billion
CAGR Growth Rate 7.10% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Equipment Type, Mineral Type, Application, End-user and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

(A free sample of the Surface Mining Equipment report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

  • Introduction, Overview, and in-depth industry analysis are all included in the 2024 updated report.
  • The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
  • About 220+ Pages Research Report (Including Recent Research)
  • Provide detailed chapter-by-chapter guidance on the Request.
  • Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2024
  • Includes Tables and figures have been updated.
  • The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis 
  • Custom Market Insights (CMI) research methodology

(Please note that the sample of the Surface Mining Equipment report has been modified to include the COVID-19 impact study prior to delivery.)

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Surface Mining Equipment Market: COVID-19 Analysis

The COVID-19 pandemic significantly disrupted the global surface mining equipment market. Supply chain constraints owing to lockdowns impacted their demand from large industries such as oil & gas, and the mining industry. Production shutdown and restriction on cross-border movement of products also considered on market expansion.

However, market experienced a revival which was due to the essential industries including oil & gas and mining industries that continued to support the surface mining equipment for the support of various production facilities. When industries started to revive post pandemic phase, the market slowly recovered, as more funds flowed into the infrastructural development and there was a need to cut down on energy consumption in terms of surface mining equipment solutions.

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Key questions answered in this report:

  • What is the size of the Surface Mining Equipment market and what is its expected growth rate?
  • What are the primary driving factors that push the Surface Mining Equipment market forward?
  • What are the Surface Mining Equipment Industry’s top companies?
  • What are the different categories that the Surface Mining Equipment Market caters to?
  • What will be the fastest-growing segment or region?
  • In the value chain, what role do essential players play?
  • What is the procedure for getting a free copy of the Surface Mining Equipment market sample report and company profiles?

Key Offerings:

  • Market Share, Size & Forecast by Revenue | 2024−2033
  • Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
  • Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Surface Mining Equipment Market – Regional Analysis

The Surface Mining Equipment Market is segmented into various regions: North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

  • North America: Surface mining equipment market in North America is relatively high because the region has a highly developed mining industry and rich mineral deposits. It is endowed with good research and development investment in mining, and it has most of the big players in the market. Current trends in this area include; enhanced mining technologies investment on intelligent mining and automation, and the promotion of sustainable mining. Also, with the support of various government policies and the development of strong regulatory measures, the market is growing. The demand is also driven by growing understanding of innovative and safe mining means among the parties interested in mining.
  • Europe: Surface mining equipment is a prominent market in Europe and especially the key countries which include Germany, Russia, and Sweden. This demand is high in countries with abundant mineral deposits and since the emphasis is placed on the technological aspect. Some of the trends seen in this area are: Automation and fast advancements in technology with the mining process to make mining safer and more efficient. It is also guided by issues such as; high level of environmental laws and regulations and a growing interest for the provision of funds for green mining ventures. Concerns to minimize the effects that the mining activities have on the environment are also hastening the application of modern mining tools.
  • Asia-Pacific: Cross-sectional, the Asia-Pacific area is also set to experience a landmark growth of the surface mining equipment market, as more and more iron ore and other minerals are mined as well as the expansion in infrastructure. Countries such as China, India and Australia are taking this growth fore front with increasing capital expenditure in the mining industry and increasing availability of modern technologies. They are cost leadership and operational efficiency in the mining & equipment and adoption of smart mining solutions in the region. Further, increasing knowledge of the effectiveness of efficient mining technologies and government’s efforts to aid the mining sector is constituting to market growth. The global market also witnesses an increasing trend in foreign investments and this fuel the growth of the regional market.
  • LAMEA (Latin America, Middle East, and Africa): LAMEAs surface mining equipment market is upcoming, new opportunities arising from the increase in mining investments and the demand for minerals and metals. In Brazil and Chile phases, Latin American countries have experienced the adoption of sophisticated mining equipment in various mining operations. The Middle East and Africa are gradually opening up to appointment with modern technologies suitable for mining, backed by improved associated mining infrastructure and accessibility to higher quality equipment. Key trends in this region involve adoption of private public partnership for the execution of mining projects as well as a rising number of training opportunities for mining professions. Furthermore, there is the emphasis on creating the necessary mining equipment to increase the efficiency of operations in the region due to the variety of mining methods.

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Browse the full Surface Mining Equipment Market Size, Trends and Insights By Equipment Type (Mining Drills and Breakers, Crushing, Pulverizing, and Screening Equipment, Excavators, Loaders, Dozers, Haul Trucks, Others), By Mineral Type (Metallic Ore Mining, Non-metallic Ore Mining, Coal Mining), By Application (Mining, Infrastructure, Others), By End-user (Mining Companies, Construction Companies, Government Agencies, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033 Report at https://www.custommarketinsights.com/report/surface-mining-equipment-market/

List of the prominent players in the Surface Mining Equipment Market:

  • Caterpillar Inc.
  • Komatsu Ltd.
  • Hitachi Construction Machinery Co. Ltd.
  • Liebherr Group
  • Terex Corporation
  • Sandvik AB
  • Atlas Copco AB
  • Volvo Construction Equipment
  • Joy Global Inc.
  • SANY Group
  • Doosan Infracore Co. Ltd.
  • Metso Corporation
  • Astec Industries Inc.
  • Thyssenkrupp AG
  • BEML Limited
  • Kawasaki Heavy Industries Ltd.
  • Hyundai Heavy Industries Co. Ltd.
  • JCB
  • Wirtgen Group
  • FLSmidth & Co. A/S
  • Others

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The Surface Mining Equipment Market is segmented as follows:

By Equipment Type

  • Mining Drills and Breakers
  • Crushing, Pulverizing, and Screening Equipment
  • Excavators
  • Loaders
  • Dozers
  • Haul Trucks
  • Others

By Mineral Type

  • Metallic Ore Mining
  • Non-metallic Ore Mining
  • Coal Mining

By Application

  • Mining
  • Infrastructure
  • Others

By End-user

  • Mining Companies
  • Construction Companies
  • Government Agencies
  • Others

Click Here to Get a Free Sample Report of the Global Surface Mining Equipment Market @ https://www.custommarketinsights.com/report/surface-mining-equipment-market/

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Taiwan
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

This Surface Mining Equipment Market Research/Analysis Report Contains Answers to the following Questions.

  • Which Trends Are Causing These Developments?
  • Who Are the Global Key Players in This Surface Mining Equipment Market? What are Their Company Profile, Product Information, and Contact Information?
  • What Was the Global Market Status of the Surface Mining Equipment Market? What Was the Capacity, Production Value, Cost and PROFIT of the Surface Mining Equipment Market?
  • What Is the Current Market Status of the Surface Mining Equipment Industry? What’s Market Competition in This Industry, Both Company and Country Wise? What’s Market Analysis of Surface Mining Equipment Market by Considering Applications and Types?
  • What Are Projections of the Global Surface Mining Equipment Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
  • What Is Surface Mining Equipment Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
  • What Is the Economic Impact On Surface Mining Equipment Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
  • What Are Market Dynamics of Surface Mining Equipment Market? What Are Challenges and Opportunities?
  • What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Surface Mining Equipment Industry?

Click Here to Access a Free Sample Report of the Global Surface Mining Equipment Market @ https://www.custommarketinsights.com/report/surface-mining-equipment-market/

Reasons to Purchase Surface Mining Equipment Market Report

  • Surface Mining Equipment Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
  • Surface Mining Equipment Market report outlines market value (USD) data for each segment and sub-segment.
  • This report indicates the region and segment expected to witness the fastest growth and dominate the market.
  • Surface Mining Equipment Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
  • The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
  • Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
  • The Industry’s current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
  • Surface Mining Equipment Market Includes in-depth market analysis from various perspectives through Porter’s five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

  • The study provides a thorough overview of the global Surface Mining Equipment market. Compare your performance to that of the market as a whole.
  • Aim to maintain competitiveness while innovations from established key players fuel market growth.

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What does the report include?

  • Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Surface Mining Equipment market analysis.
  • The competitive environment of current and potential participants in the Surface Mining Equipment market is covered in the report, as well as those companies’ strategic product development ambitions.
  • According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
  • For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

  • Participants and stakeholders worldwide Surface Mining Equipment market should find this report useful. The research will be useful to all market participants in the Surface Mining Equipment industry.
  • Managers in the Surface Mining Equipment sector are interested in publishing up-to-date and projected data about the worldwide Surface Mining Equipment market.
  • Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Surface Mining Equipment products’ market trends.
  • Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans. 

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