The global underground mining equipment market was valued at USD 23.4 billion in 2018 and is expected to reach USD 29.8 billion in 2026, growing at a CAGR of 3.2% during the forecast period.
Underground mining is the method of mineral and ore extraction, buried in far underneath the surface of the earth. Underground mining's primary objective is to extract ore from underground as safely as possible while producing as little waste as possible. Slushers, front-end loaders, gathering arm loaders, Load-Haul-Dump units (LHDs), overhead loaders, and rubber-tired shuttle cars and trucks, as well as conveyor, rail, and gravity flow is the most common equipment used for material handling such as loading and transporting excavated ore.
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Underground Mining Equipment Market Segmentation
By Product Type 1. Longwall Extraction
2. Room and Pillar Extraction
3. Others

By Application 1. Coal Mining
2. Metal Mining
3. Mineral Mining

By Region 1. North America (US and Canada)
2. Europe (UK, Germany, France and Rest of Europe)
3. Asia Pacific (China, Japan, India and Rest of Asia Pacific)
4. Latin America (Brazil, Argentina and Rest of Latin America)
5. Middle East & Africa (GCC and Rest of Middle East & Africa)


The growth of the underground mining equipment market is primarily driven by the growing demand for metal and commodities. Moreover, increasing the population in urban cities and growing industrialization are also driving the growth of the global underground mining equipment market. On the other hand, stringent government regulations regarding environmental and human rights are creating a major hindrance to its market growth. However, the continuous development of advanced and more effective underground mining equipment is expected to create major growth opportunities in the global market during the forecast period.
The longwall extraction segment expected to grow at the fastest rate of 4.5% CAGR during the forecast period
Based on mining type, the global underground mining equipment market has been segmented into longwall extraction, room and pillar extraction, and others. The longwall extraction segment is anticipated to grow at a CAGR of 4.5% during the forecast period. Longwall extraction is a method of high-tech coal mining that accounts for nearly half of U.S. underground coal production, mostly in the East and Midwest.
Based on application, the metal segment is expected to lead during the forecast period
Based on the application, the global underground mining equipment market has been segmented into coal, metal, and minerals. The metal segment is expected to lead the global market during the forecast period and was accounted for a 45% share in 2018. Implementation of government schemes, growth in local demand and increased production capability are expected to drive demand in the application of metal exploration. The steps taken by the Government of India for curb metal and mineral imports and to introduce a price floor on a few existing imports are expected to review the market for local metal exploration. The changing exploration landscape in the metal exploration application further contributes to the increased demand for mining equipment. The segment of coal mining has high growth potential and is expected to gain popularity in the years to come.
Asia-Pacific to dominate the underground mining equipment market throughout the forecast period
Asia-Pacific accounted for the 32% revenue share in 2018 and anticipated to dominate the global underground mining equipment market during the forecast period. Growing investment in advanced mineral exploration tools in Australia and India has a positive impact on the development of the regional market. Moreover, owing to China's strategy to promote international mining investment, China is expected to see significant growth during the forecast period. In this region, local manufacturers are rapidly upgrading and expanding their range of products to meet domestic and international demand.
Company Profiles and Competitive Intelligence:
The major players operating in the global underground mining equipment market are Sandvik (Sweden), Komatsu ltd (Japan), Hitachi Construction Machinery Co., Ltd (Japan), Boart Longyear (US), Thyssenkrupp AG (Germany), J.H. Fletcher & Co., Inc. (US), Atlas Copco AB (Sweden), SANY GROUP (China), Normet Group (Australia), and Volvo (Sweden) among others.
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