- The increasing demand for minerals and metals, driven by industries such as automotive, construction, and electronics, is propelling the mining machinery market
- For instance, in June 2023, Epiroc unveiled a new mobile hydraulic power pack designed for blast hole drills. This wagon-mounted power pack facilitates off-grid operation for electric drills, eliminating the need for existing electrical infrastructure and enhancing the efficiency and versatility of drilling operations in remote locations
- Asia Pacific dominated the mining machinery market with the largest revenue share of 48.6% in 2024, driven by significant investments in mining operations, rising demand for critical minerals, and the increasing presence of advanced mining equipment manufacturers in countries instance China, Australia, India, and Indonesia
- North America is poised to grow at the fastest CAGR of 13.2% during the forecast period from 2025 to 2032, fueled by a rising focus on automation, digitalization, and sustainable mining operations across the region
- The Surface Mining Machinery segment dominated the mining machinery market with the largest market revenue share of 47.6% in 2024, driven by the growing demand for large-scale mineral extraction, particularly in open-pit mining operations
