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COVER STORY

MINING’S
MI N I N G ’ S

Fast Facts
� $162.9 billion — The global mining equipment market
N E X T B I G S H I F T was valued at this level in 2025 and is projected to
NEXT BIG SHIFT
reach US$237 billion by 2034, growing at a 4.13%
CAGR.
� 61.9% — Asia Pacific’s share of the global mining
equipment market in 2025, making it the industry’s
dominant regional market.
Mining is no longer operating in isolation from the forces reshaping � $6.79 billion  $12 billion — India’s mining equipment
the global economy. Infrastructure expansion, urbanisation, market is projected to grow from its 2025 value to $12
industrial growth and the energy transition are intensifying demand billion by 2034, representing a 5.81% CAGR.
for minerals, while the rise of critical minerals is adding a new
dimension to resource security. For mining companies, the � 28.5% — Excavators’ share of India’s mining equipment
equation is becoming more demanding: deliver greater output market in 2025, making them the largest equipment
and reliability while managing costs, safety, energy use and type.
environmental impact. � 49.5% — Share of surface mining equipment in India’s
That is putting mining equipment at the heart of the industry’s market in 2025, reflecting the country’s continued
transformation. For decades, machinery was judged primarily by dependence on large-scale open-pit coal and iron-ore
horsepower, payload, digging depth, cycle time and durability. operations.
Those fundamentals remain critical, but a new set of measures is � 45.7% — East India’s share of India’s mining equipment
gaining equal importance—equipment utilisation, uptime, energy market, driven by the concentration of coal reserves,
efficiency, connectivity, predictive maintenance and lifecycle iron ore and steel-producing clusters across Jharkhand,
value. Odisha and Chhattisgarh.
The machines themselves are evolving. Excavators, haul

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