Dublin, Jan. 16, 2025 (GLOBE NEWSWIRE) -- The "Underground Mining Equipment Market Size, Share & Trends Analysis by Equipment, Mining Technique, Application, and Region, 2025-2030" report has been added to ResearchAndMarkets.com's offering.
The global underground mining equipment market size is anticipated to reach USD 58.2 billion by 2030 and is projected to grow at a CAGR of 5.1% from 2025 to 2030.
The growing global demand for minerals is a key driver of the global market, as mining companies are increasingly shifting towards deeper and more complex underground operations to meet this need. With easily accessible surface and open-pit mining deposits becoming more depleted, companies are now focusing on underground mining to extract valuable resources such as gold, copper, and rare earth metals. This transition to deeper, more challenging mining environments demands highly specialized equipment capable of operating safely and efficiently in confined spaces. Advanced machinery is essential for maintaining productivity and safety, especially in operations that require precise extraction techniques and high operational uptime. 
The demand for specialized underground mining equipment, including shuttle cars, Load Haul Dump (LHD) machines, articulated vehicles, underground mining trucks, and drilling rigs, has seen significant growth as these tools are crucial for efficient and safe material transport, ore extraction, and overall mining operations.
The growing emphasis on sustainability and environmental responsibility is increasingly shaping the demand for eco-friendly underground mining equipment. As governments and regulatory bodies implement stricter environmental standards, mining companies are adopting electric-powered and hybrid machinery to reduce emissions, lower fuel consumption, and minimize their environmental impact. This shift towards greener, more energy-efficient equipment is not only driven by regulatory pressure but also by the industry's desire to enhance its reputation and operational sustainability. As a result, the need for advanced, environmentally conscious underground mining equipment is surging, driving the development and adoption of cutting-edge technologies that help mining operations meet both environmental and performance goals.
Underground Mining Equipment Market Report: Highlights
- Based on equipment, the load hauling truck (LHD) segment led the market with the largest revenue share of 27.4% in 2024. A significant driver for LHD adoption is their compatibility with automation and remote control technologies. Companies like Sandvik Mining and Rock Solutions have introduced automated LHD models such as the LH514 with intelligent systems for autonomous navigation and operation, reducing the need for human presence in hazardous underground conditions.
- Based on mining technique, the room and pillar segment led the market with the largest revenue share of 40.0% in 2024. Room and pillar mining are commonly used in coal, limestone, and other soft mineral extraction, making it a cornerstone for industries to be reliant on these resources.
- Based on application, the coal mining segment led the market with the largest revenue share of 43.5% in 2024 driven by the growing demand for coal as a key energy source and industrial input globally. Despite the global shift toward renewable energy, coal continues to play a critical role in electricity generation, steel production, and other heavy industries, particularly in developing economies.
- Asia Pacific dominated the market with the largest revenue share of 39.4% in 2024. The Asia Pacific region is poised for substantial growth, driven by several key developments across major countries. The region's rich mineral resources, combined with a strategic emphasis on sustainability and technological advancement, are shaping a dynamic mining landscape.
- In March 2024, AngloGold Ashanti marked a significant milestone in sustainable mining by introducing its first 100% electric vehicle (EV) for underground operations in Brazil. Equipped with advanced battery technology, the EV offers extended operational cycles, reduced maintenance costs, and improved worker safety by minimizing exposure to harmful exhaust gases.
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
Key Attributes
| Report Attribute | Details |
| No. of Pages | 100 |
| Forecast Period | 2024-2030 |
| Estimated Market Value (USD) in 2024 | $43.19 billion |
| Forecasted Market Value (USD) by 2030 | $58.2 billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
Key Topics Covered
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Underground Mining Equipment Market Variables, Trends, & Scope
3.1. Market Concentration & Penetration Outlook
3.2. Industry Value Chain Analysis
3.3. Technology Overview
3.4. Regulatory Framework
3.5. Market Dynamics
3.5.1. Market Drivers Analysis
3.5.2. Market Restraints Analysis
3.5.3. Market Opportunity Analysis
3.5.4. Market Challenge Analysis
3.6. Underground Mining Equipment Market Analysis Tools
3.6.1. Porter's Analysis
3.6.2. PESTEL Analysis
3.7. Economic Mega-Trend Analysis
Chapter 4. Underground Mining Equipment Market: Equipment Estimates & Trend Analysis
4.1. Segment Dashboard
4.2. Underground Mining Equipment Market: Mining Technique Movement Analysis, USD Million, 2024 & 2030
4.3. Shuttle Cars
4.4. Load Haul Dump (LHD)
4.5. Articulated Vehicles
4.6. Underground Mining Trucks
4.7. Scooptrams
4.8. Drills
4.9. Bolters
4.10. Others
Chapter 5. Underground Mining Equipment Market: Mining Technique Estimates & Trend Analysis
5.1. Segment Dashboard
5.2. Underground Mining Equipment Market: Mining Technique Movement Analysis, USD Million, 2024 & 2030
5.3. Room and Pillar
5.4. Longwall Mining
5.5. Blast Mining
5.6. Others
Chapter 6. Underground Mining Equipment Market: Application Estimates & Trend Analysis
6.1. Segment Dashboard
6.2. Underground Mining Equipment Market: Application Movement Analysis, USD Million, 2024 & 2030
6.3. Coal Mining
6.4. Metal Mining
6.5. Mineral Mining
Chapter 7. Underground Mining Equipment Market: Region Estimates & Trend Analysis
7.1. Underground Mining Equipment Market Share, by Region, 2024 & 2030, USD Million
7.2. North America
7.3. Europe
7.4. Asia Pacific
7.5. Latin America
7.6. Middle East & Africa
Chapter 8. Competitive Landscape
8.1. Recent Developments & Impact Analysis by Key Market Participants
8.2. Company Categorization
8.3. Company Market Positioning
8.4. Company Market Share Analysis
8.5. Company Heat Map Analysis
8.6. Strategy Mapping
8.7. Company Profiles
8.7.1. Caterpillar Inc.
8.7.2. Getman Corporation
8.7.3. Sandvik AB
8.7.4. Komatsu
8.7.5. Sany Group
8.7.6. XCMG Group
8.7.7. Boart Longyear
8.7.8. Epiroc AB
8.7.9. J.H. Fletcher & Co.
8.7.10. SMT Scharf GmbH
8.7.11. Schmidt
8.7.12. Kranz & Co & Co. GmbH
8.7.13. Zibo God Rock Mining Machinery Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/q7b2gq
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