Dublin, April 25, 2025 (GLOBE NEWSWIRE) -- The "Electric Mining Equipment Market Report 2025" has been added to ResearchAndMarkets.com's offering.
This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Key Companies Profiled: BYD Company Limited; Caterpillar Inc.; Volvo Construction Equipment AB; Xuzhou Construction Machinery Group Co. Ltd.; Sandvik Group.
The electric mining equipment market size has grown exponentially in recent years. It will grow from $2.97 billion in 2024 to $3.59 billion in 2025 at a compound annual growth rate (CAGR) of 20.7%. The growth in the historic period can be attributed to increased government incentives, increased corporate social responsibility (CSR), resource scarcity, operational efficiency.
The electric mining equipment market size is expected to see rapid growth in the next few years. It will grow to $6.63 billion in 2029 at a compound annual growth rate (CAGR) of 16.6%. The growth in the forecast period can be attributed to increasing environmental regulations, increasing energy transition, increasing market demand for minerals, increasing health and safety regulations. Major trends in the forecast period include digitalization and data analytics, product innovations, partnerships, investments.
The growing mining industry is expected to propel the growth of the electric mining equipment market going forward. For instance, in February 2023, according to a report published by the United States Geological Survey, a US-based government agency, in 2022, US mines generated roughly $98.2 billion in nonfuel mineral commodities, up $3.6 billion (~3.8%) from the projected total of $94.6 billion for 2021. Therefore, the growing mining industry is driving the growth of the electric mining equipment receiver market.
Major companies operating in the electric mining equipment market are concentrating on new innovative products, such as the XES35, a next-generation super 35m electric shovel excavator for open pit mining to leverage advancements and address market demands. For instance, in July 2023, Xuzhou Construction Machinery Group Co. Ltd., a China-based construction machinery company, introduced the XES35, a next-generation super 35m electric shovel excavator for open pit mining. This electric shovel excavator is designed to excel in efficiency, sustainability, and safety, making it suitable for large-scale open-pit mining operations. It comes with a 35-m shovel bucket that can load about 65 tons of ore each time, and it is designed to be deployed for mining. Additionally, it provides advantages, including intelligent operation, sustainability and green operation, reliability and high availability, operational comfort and safety, and low comprehensive use costs.
In August 2022, Epiroc, a Sweden-based mining and infrastructure equipment manufacturing company, acquired AARD mining equipment for an undisclosed amount. Through this acquisition, Epriroc aims to strengthen its presence in the African market and enhance its underground product portfolio including low-profile underground machines for mines with low mining heights. AARD Mining Equipment is a South Africa-based manufacturer of mining equipment, including hydraulic rock drilling equipment and electric mining equipment.
Asia-Pacific was the largest region in the electric mining equipment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electric mining equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the electric mining equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Assess the impact of key macro factors such as conflict, pandemic and recovery, inflation and interest rate environment and the 2nd Trump presidency.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Report Scope
Markets Covered:
1) By Type: Mineral Processing Equipment; Surface Mining Equipment; Underground Mining Equipment; Mining Drills And Breakers; Crushing Pulverizing And Screening Equipment; Other Types
2) By Solution: Products; Services
3) By Application: Coal Mining; Gas And Oil Extraction; Metal Ore Mining; Non-Metal Mining
Subsegments:
1) By Mineral Processing Equipment: Electric Conveyors; Electric Flotation Machines; Electric Grinding Mills
2) By Surface Mining Equipment: Electric Excavators; Electric Dump Trucks; Electric Loaders
3) By Underground Mining Equipment: Electric Shuttle Cars; Electric LHDs (Load-Haul-Dump); Electric Rock Bolters
4) By Mining Drills And Breakers: Electric Drilling Machines; Electric Breakers And Hydraulic Hammers
5) By Crushing, Pulverizing, And Screening Equipment: Electric Crushers; Electric Screeners; Electric Pulverizers
6) By Other Types: Electric Haul Trucks; Electric Blasting Equipment; Electric Support Equipment
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2025-2029 |
| Estimated Market Value (USD) in 2025 | $3.59 Billion |
| Forecasted Market Value (USD) by 2029 | $6.63 Billion |
| Compound Annual Growth Rate | 16.6% |
| Regions Covered | Global |
Some of the major companies featured in this Electric Mining Equipment market report include:
- BYD Company Limited
- Caterpillar Inc.
- Volvo Construction Equipment AB
- Xuzhou Construction Machinery Group Co. Ltd.
- Sandvik Group
- SANY Group Co. Ltd.
- Sandvik AB
- Hitachi Construction Machinery Co. Ltd.
- Epiroc AB
- J.C. Bamford Excavators Limited
- Kirkland Lake Gold
- Wacker Neuson SE
- Komatsu Ltd.
- Doosan Infracore Co. Ltd.
- MacLean Engineering
- Normet Group
- Ampcontrol
- Kress Corporation
- AARD Mining Equipment
- Miller Technology Inc.
- Liebherr-International Deutschland GmbH
- Artisan Vehicle Systems Inc.
- Rokion
- Rock Technology
- Soletrac Inc.
- Belarusian Autoworks
For more information about this report visit https://www.researchandmarkets.com/r/6uelj6
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
