Mining Equipment Market size | Industry Trends & Forecast 2025

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Code: MTA10184

Publication Date: Oct 2025

What is the size of Mining Equipment Market?

According to 6Wresearch internal database and industry insights, the Global Mining Equipment Market was valued at USD 152 Billion in 2024 and is expected to reach USD 205 Billion by 2031, growing at a compound annual growth rate of 5% during the forecast period (2025-2031).

The key contributors to this growth are the rising mining activities, the demand for mineral resources, and advancements in equipment technologies that deliver higher efficiency and safety. These factors are likely to continue to drive market growth to 2031.

Growth Factors for Mining Equipment Industry

Increased demand for minerals to accommodate industrialisation and construction.
Technological developments in mining equipment are allowing for greater productivity.
Increased investments in mining exploration and infrastructure.
Continued demand for advanced mining equipment is driven by automation and mechanisation.
Regulatory requirements require safer and more efficient mining equipment.

Mining Equipment Market Trends

The Mining Equipment Market is experiencing trends that are more focused on automation, digitisation and sustainability. The key trends include an increased uptake of autonomous and electric equipment that improves operational efficiency of the equipment while decreasing the carbon footprint. In addition, there is an increase in interest in equipment that reduces energy input and waste output. Mining companies are also adopting smart technologies, such as IoT, to allow for monitoring and decision-making in real time to improve performance and safety.

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Emerging Developments in the Mining Equipment Market

The Mining Equipment Market is witnessing several key developments, including innovations in autonomous mining equipment and the rise of electric-powered machines for better environmental sustainability. Moreover, digitalisation is enabling real-time equipment monitoring and predictive maintenance, improving uptime and reducing costs. Manufacturers are also exploring hybrid and energy-efficient equipment to meet environmental regulations and reduce operational expenses.