Home / Mining, Minerals and Metals / Electric Mining Equipment Market by Product Type (Mining Trucks, Load Haul Dump (LHD)) by Battery Type (Lithium-ion, Lead-acid, Other Battery Types) by Application (Mineral Mining, Metal Mining, Coal Mining): Growth, Future Prospects & Competitive Analysis, 2015 - 2027

Electric Mining Equipment Market by Product Type (Mining Trucks, Load Haul Dump (LHD)) by Battery Type (Lithium-ion, Lead-acid, Other Battery Types) by Application (Mineral Mining, Metal Mining, Coal Mining): Growth, Future Prospects & Competitive Analysis, 2015 - 2027

Published: Jun 2021 | Report Code: 60385-06-21

The electric mining equipment market is expected to cross market value of USD 16,714.1 million in 2027 from USD 11,580.0 million in 2020. It is expected to grow at a CAGR of over 5.4% during the forecast period.

Key Market Drivers and Restraints

Growing demand for mining trucks, powered by lithium-ion batteries boasts three times more power than a diesel, and the capability to haul 50 tons of material. It also features regenerative braking and an automated battery swap system that can refuel the vehicle in about 10 minutes. This is a factor expected to drive growth of the global electric mining equipment market. Also, technological advancement in electric equipment have boosted growth of global electric mining equipment market over the forecast period.

However, high manufacturing cost of the electric equipment is a factor expected to hamper the global electric mining equipment market. Companies are being pressured by stockholders, workers, local communities, consumers and governments to reduce greenhouse gas emissions, reduce carbon footprints, improve air quality and protect the health and safety of workers and people living near mines. Adoption of battery-powered equipment to replace hydraulics is a factor expected to create potential opportunity for the prominent manufacturers operating in the market.

Impact of COVID 19

COVID-19 has pushed many industries away from traditional ways of doing business, and the mining industry is certainly no exception. The pandemic has accelerated many of the technological developments that were previously underway to help mining companies remotely access certain equipment. The electric mining equipment market will show considerable growth on the back of the global pandemic. Due to the COVID-19 outbreak, global or partial shutdown have a negative impact on the supply chain and product demand. In addition, decrease in work employees in this pandemic has impacted the market growth negatively.

Asia Pacific to Dominate the global electric mining equipment market

The global electric mining equipment market covers the six regions, namely Europe, North America, Asia Pacific, Latin America (LATAM), Middle East and Africa, including all the key economies in these regions. Asia Pacific market is dominated the global market and accounted for more than 31.6% of the target market. This is attributed to increasing demand for the electric equipment in mining and rising collaboration among players to enhance market penetration.

Mining Trucks would continue to dominate the global electric mining equipment market in terms of Product Type

Mining trucks and load haul dump (LHD) are the product type of electric mining equipment market. In 2020, mining trucks segment accounted for the largest share of global electric mining equipment market, owing to growing demand in mining field.

Lithium-ion is the major segment in the global electric mining equipment market in terms of battery type

Lithium-ion, lead-acid, and other battery types are the battery type of electric mining equipment market. In 2020, lithium-ion segment accounted for the largest share of global electric mining equipment market.

Metal Mining is the major segment in the global electric mining equipment market in terms of Application

Based on application, the global electric mining equipment market is segregated into mineral mining, metal mining, and coal mining. In 2020, metal mining segment is accounted for a significant share in 2020 of the global electric mining equipment market.

Frequently asked questions about global electric mining equipment market

  • What are the consequences of COVID 19 on global electric mining equipment market?
    Ans: Disruption of supply chain and shutdown of production lines caused by the current pandemic
  • Which is the key product type through electric mining equipment market?
    Ans: Mining trucks is the most frequently through electric mining equipment market
  • Which is the key battery type through which electric mining equipment market occurs?
    Ans: Lithium-ion is the main battery type segment in electric mining equipment market
  • Which is the key application through which electric mining equipment market occurs?
    Ans: Metal mining is the major battery type segment in electric mining equipment market
  • Who are the key players in the global electric mining equipment market?
    Ans: Atlas Copco AB, Boart Longyear Ltd., Caterpillar Inc., Dakota Equipment Manufacturing Inc., Doosan Group, Hitachi Construction Machinery Co., Ltd., JCB, Komatsu Ltd., Liebherr, Sandvik AB, Volvo Construction Equipment, and Others are key players operating in this market
  • Which is the leading regional market for global electric mining equipment market?
    Ans: Asia Pacific has the largest share owing to local presence of market players and increasing demand in electric vehicles
  • What will be the CAGR (2021-2027) of in global electric mining equipment market?
    Ans: The market is anticipated to grow at a CAGR of 5.4% throughout the forecast period
  • Which are the major factors driving the growth of global electric mining equipment market?
    Ans: Increasing demand for the electric equipment in mining fields is a key driving factor propelling the growth of this market

Table of Content
1.Preface
1.1.Report Description
1.1.1.Purpose of the Report
1.1.2.Target Audience
1.1.3.USP and Key Offerings
1.2.Research Scope
1.3.Research Methodology
1.3.1.Phase I – Secondary Research
1.3.2.Phase II – Primary Research
1.3.3.Phase III – Expert Panel Review
1.3.4.Approach Adopted
1.3.4.1.Top-Down Approach
1.3.4.2.Bottom-Up Approach
1.3.5.Assumptions
1.4.Market Segmentation

2.Executive Summary
2.1.Market Snapshot: Global Electric Mining Equipment Market

3.Market Dynamics
3.1.Introduction
3.1.1. Global Electric Mining Equipment Market Value, 2015-2027, (US$ Bn)
3.2.Market Dynamics
3.2.1.Key Growth Trends
3.2.2.Major Industry Challenges
3.2.3.Key Growth Pockets
3.3.Attractive Investment Proposition,2020
3.3.1.Product Type
3.3.2.Battery Type
3.3.3.Application
3.3.4.Geography

4.Market Positioning of Key Players, 2020
4.1.Company market share of key players, 2020
4.2.Top 6 Players
4.3.Top 3 Players
4.4.Major Strategies Adopted by Key Players

5.COVID 19 Impact Analysis
5.1.Global Electric Mining Equipment Market Pre Vs Post COVID 19, 2019 - 2027
5.2.Impact on Import & Export
5.3.Impact on Demand & Supply

6.North America
6.1.North America Electric Mining Equipment Market, by Country, 2015-2027(US$ Bn)
6.1.1.U.S.
6.1.2.Canada
6.1.3.Mexico
6.2.North America Electric Mining Equipment Market, by Product Type, 2015-2027(US$ Bn)
6.2.1.Overview
6.2.2.Mining Trucks
6.2.3.Load Haul Dump (LHD)
6.3.North America Electric Mining Equipment Market, by Battery Type, 2015-2027(US$ Bn)
6.3.1.Overview
6.3.2.Lithium-ion
6.3.3.Lead-acid
6.3.4.Other Battery Types
6.4.North America Electric Mining Equipment Market, By Application, 2015-2027(US$ Bn)
6.4.1.Overview
6.4.2.Mineral Mining
6.4.3.Metal Mining
6.4.4.Coal Mining

7.Europe
7.1.Europe Electric Mining Equipment Market, by Country, 2015-2027(US$ Bn)
7.1.1.UK
7.1.2.France
7.1.3.Germany
7.1.4.Italy
7.1.5.Russia
7.1.6.Spain
7.1.7.Belgium
7.1.8.Netherland
7.1.9.Austria
7.1.10.Sweden
7.1.11.Poland
7.1.12.Denmark
7.1.13.Switzerland
7.1.14.Rest of Europe
7.2.Europe Electric Mining Equipment Market, by Product Type, 2015-2027(US$ Bn)
7.2.1.Overview
7.2.2.Mining Trucks
7.2.3.Load Haul Dump (LHD)
7.3.Europe Electric Mining Equipment Market, by Battery Type, 2015-2027(US$ Bn)
7.3.1.Overview
7.3.2.Lithium-ion
7.3.3.Lead-acid
7.3.4.Other Battery Types
7.4.Europe Electric Mining Equipment Market, By Application, 2015-2027(US$ Bn)
7.4.1.Overview
7.4.2.Mineral Mining
7.4.3.Metal Mining
7.4.4.Coal Mining

8.Asia Pacific
8.1.Asia Pacific Electric Mining Equipment Market, by Country, 2015-2027(US$ Bn)
8.1.1.China
8.1.2.Japan
8.1.3.South Korea
8.1.4.India
8.1.5.Australia
8.1.6.New Zealand
8.1.7.Taiwan
8.1.8.Southeast Asia
8.1.9.Central Asia
8.1.10.Rest of Asia Pacific
8.2.Asia Pacific Electric Mining Equipment Market, by Product Type, 2015-2027(US$ Bn)
8.2.1.Overview
8.2.2.Mining Trucks
8.2.3.Load Haul Dump (LHD)
8.3.Asia Pacific Electric Mining Equipment Market, by Battery Type, 2015-2027(US$ Bn)
8.3.1.Overview
8.3.2.Lithium-ion
8.3.3.Lead-acid
8.3.4.Other Battery Types
8.4.Asia Pacific Electric Mining Equipment Market, By Application, 2015-2027(US$ Bn)
8.4.1.Overview
8.4.2.Mineral Mining
8.4.3.Metal Mining
8.4.4.Coal Mining

9.Latin America
9.1.Latin America Electric Mining Equipment Market, by Country, 2015-2027(US$ Bn)
9.1.1.Brazil
9.1.2.Argentina
9.1.3.Peru
9.1.4.Chile
9.1.5.Colombia
9.1.6.Rest of Latin America
9.2.Latin America Electric Mining Equipment Market, by Product Type, 2015-2027(US$ Bn)
9.2.1.Overview
9.2.2.Mining Trucks
9.2.3.Load Haul Dump (LHD)
9.3.Latin America Electric Mining Equipment Market, by Battery Type, 2015-2027(US$ Bn)
9.3.1.Overview
9.3.2.Lithium-ion
9.3.3.Lead-acid
9.3.4.Other Battery Types
9.4.Latin America Electric Mining Equipment Market, By Application, 2015-2027(US$ Bn)
9.4.1.Overview
9.4.2.Mineral Mining
9.4.3.Metal Mining
9.4.4.Coal Mining

10.Middle East
10.1.Middle East Electric Mining Equipment Market, by Country, 2015-2027(US$ Bn)
10.1.1.UAE
10.1.2.KSA
10.1.3.Israel
10.1.4.Turkey
10.1.5.Iran
10.1.6.Rest of Middle East
10.2.Middle East Electric Mining Equipment Market, by Product Type, 2015-2027(US$ Bn)
10.2.1.Overview
10.2.2.Mining Trucks
10.2.3.Load Haul Dump (LHD)
10.3.Middle East Electric Mining Equipment Market, by Battery Type, 2015-2027(US$ Bn)
10.3.1.Overview
10.3.2.Lithium-ion
10.3.3.Lead-acid
10.3.4.Other Battery Types
10.4.Middle East Electric Mining Equipment Market, By Application, 2015-2027(US$ Bn)
10.4.1.Overview
10.4.2.Mineral Mining
10.4.3.Metal Mining
10.4.4.Coal Mining

11.Africa
11.1.Africa Electric Mining Equipment Market, by Country, 2015-2027(US$ Bn)
11.1.1.South Africa
11.1.2.Egypt
11.1.3.Nigeria
11.1.4.Rest of Africa
11.2.Africa Electric Mining Equipment Market, by Product Type, 2015-2027(US$ Bn)
11.2.1.Overview
11.2.2.Mining Trucks
11.2.3.Load Haul Dump (LHD)
11.3.Africa Electric Mining Equipment Market, by Battery Type, 2015-2027(US$ Bn)
11.3.1.Overview
11.3.2.Lithium-ion
11.3.3.Lead-acid
11.3.4.Other Battery Types
11.4.Africa Electric Mining Equipment Market, By Application, 2015-2027(US$ Bn)
11.4.1.Overview
11.4.2.Mineral Mining
11.4.3.Metal Mining
11.4.4.Coal Mining

12.Global
12.1.Global Electric Mining Equipment Market, by Product Type, 2015-2027(US$ Bn)
12.1.1.Overview
12.1.2.Mining Trucks
12.1.3.Load Haul Dump (LHD)
12.2.Global Electric Mining Equipment Market, by Battery Type, 2015-2027(US$ Bn)
12.2.1.Overview
12.2.2.Lithium-ion
12.2.3.Lead-acid
12.2.4.Other Battery Types
12.3.Global Electric Mining Equipment Market, By Application, 2015-2027(US$ Bn)
12.3.1.Overview
12.3.2.Mineral Mining
12.3.3.Metal Mining
12.3.4.Coal Mining

13.Company Profiles
13.1.Atlas Copco AB
13.2.Boart Longyear Ltd.
13.3.Caterpillar Inc.
13.4.Dakota Equipment Manufacturing Inc.
13.5.Doosan Group
13.6.Hitachi Construction Machinery Co., Ltd.
13.7.JCB
13.8.Komatsu Ltd.
13.9.Liebherr
13.10.Sandvik AB
13.11.Volvo Construction Equipment
13.12.Others

List of Figures

FIG. 1 Global Electric Mining Equipment Market: Research Methodology

FIG. 2 Market Size Estimation – Top Down & Bottom up Approach

FIG. 3 Global Electric Mining Equipment Market Segmentation

FIG. 4 Global Electric Mining Equipment Market, by Product Type, 2019 (US$ Bn)

FIG. 5 Global Electric Mining Equipment Market, by Battery Type, 2019 (US$ Bn)

FIG. 6 Global Electric Mining Equipment Market, by Application, 2019 (US$ Bn)

FIG. 7 Global Electric Mining Equipment Market, by Geography, 2019 (US$ Bn)

FIG. 8 Attractive Investment Proposition, by Geography, 2019

FIG. 9 Global Market Positioning of Key Electric Mining Equipment Market Manufacturers, 2019

FIG. 10 Global Electric Mining Equipment Market Value Contribution, By Product Type, 2019 & 2027 (Value %)

FIG. 11 Global Electric Mining Equipment Market Value Contribution, By Battery Type, 2019 & 2027 (Value %)

FIG. 12 Global Electric Mining Equipment Market Value Contribution, By Application, 2019 & 2027 (Value %)

FIG. 13 U.S. Electric Mining Equipment Market, 2015-2027 (US$ Bn)

FIG. 14 Rest of North America Electric Mining Equipment Market, 2015-2027 (US$ Bn)

FIG. 15 U.K. Electric Mining Equipment Market, 2015-2027 (US$ Bn)

FIG. 16 Germany Electric Mining Equipment Market, 2015-2027 (US$ Bn)

FIG. 17 France Electric Mining Equipment Market, 2015-2027 (US$ Bn)

FIG. 18 Rest of Europe Electric Mining Equipment Market, 2015-2027 (US$ Bn)

FIG. 19 Japan Electric Mining Equipment Market, 2015-2027 (US$ Bn)

FIG. 20 China Electric Mining Equipment Market, 2015-2027 (US$ Bn)

FIG. 21 India Electric Mining Equipment Market, 2015-2027 (US$ Bn)

FIG. 22 Rest of Asia Pacific Electric Mining Equipment Market, 2015-2027 (US$ Bn)

FIG. 23 Middle East & Africa Electric Mining Equipment Market, 2015-2027 (US$ Bn)

Latin America Electric Mining Equipment Market, 2015-2027 (US$ Bn)

List of Tables

TABLE 1 Market Snapshot: Global Electric Mining Equipment Market

TABLE 2 Global Electric Mining Equipment Market, by Product Type, 2015-2027 (US$ Bn)

TABLE 3 Global Electric Mining Equipment Market, by Battery Type, 2015-2027 (US$ Bn)

TABLE 4 Global Electric Mining Equipment Market, by Application, 2015-2027 (US$ Bn)

TABLE 5 Global Electric Mining Equipment Market, by Geography, 2015-2027 (US$ Bn)

TABLE 6 North America Electric Mining Equipment Market, by Product Type, 2015-2027 (US$ Bn)

TABLE 7 North America Electric Mining Equipment Market, by Battery Type, 2015-2027 (US$ Bn)

TABLE 8 North America Electric Mining Equipment Market, by Application, 2015-2027 (US$ Bn)

TABLE 9 North America Electric Mining Equipment Market, by Country/Region, 2015-2027 (US$ Bn)

TABLE 10 Europe Electric Mining Equipment Market, by Product Type, 2015-2027 (US$ Bn)

TABLE 11 Europe Electric Mining Equipment Market, by Battery Type, 2015-2027 (US$ Bn)

TABLE 12 Europe Electric Mining Equipment Market, by Application, 2015-2027 (US$ Bn)

TABLE 13 Europe Electric Mining Equipment Market, by Country/Region, 2015-2027 (US$ Bn)

TABLE 14 Asia Pacific Electric Mining Equipment Market, by Product Type, 2015-2027 (US$ Bn)

TABLE 15 Asia Pacific Electric Mining Equipment Market, by Battery Type, 2015-2027 (US$ Bn)

TABLE 16 Asia Pacific Electric Mining Equipment Market, by Application, 2015-2027 (US$ Bn)

TABLE 17 Asia Pacific Electric Mining Equipment Market, by Country/Region, 2015-2027 (US$ Bn)

TABLE 18 Latin America Electric Mining Equipment Market, by Product Type, 2015-2027 (US$ Bn)

TABLE 19 Latin America Electric Mining Equipment Market, by Battery Type, 2015-2027 (US$ Bn)

TABLE 20 Latin America Electric Mining Equipment Market, by Application, 2015-2027 (US$ Bn)

TABLE 21 Latin America Electric Mining Equipment Market, by Country/Region, 2015-2027 (US$ Bn)

TABLE 22 Middle East Electric Mining Equipment Market, by Product Type, 2015-2027 (US$ Bn)

TABLE 23 Middle East Electric Mining Equipment Market, by Battery Type, 2015-2027 (US$ Bn)

TABLE 24 Middle East Electric Mining Equipment Market, by Application, 2015-2027 (US$ Bn)

TABLE 25 Middle East Electric Mining Equipment Market, by Shape, 2015-2027 (US$ Bn)

TABLE 26 Middle East Electric Mining Equipment Market, by Application, 2015-2027 (US$ Bn)

TABLE 27 Middle East Electric Mining Equipment Market, by Country/Region, 2015-2027 (US$ Bn)

TABLE 28 Africa Electric Mining Equipment Market, by Product Type, 2015-2027 (US$ Bn)

TABLE 29 Africa Electric Mining Equipment Market, by Battery Type, 2015-2027 (US$ Bn)

TABLE 30 Africa Electric Mining Equipment Market, by Application, 2015-2027 (US$ Bn)

TABLE 31 Africa Electric Mining Equipment Market, by Country/Region, 2015-2027 (US$ Bn)

TABLE 32 Atlas Copco AB: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments

TABLE 33 Boart Longyear Ltd.: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments

TABLE 34 Caterpillar Inc.: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments

TABLE 35 Dakota Equipment Manufacturing Inc.: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments

TABLE 36 Doosan Group: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments

TABLE 37 Hitachi Construction Machinery Co., Ltd.: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments

TABLE 38 JCB: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments

TABLE 39 Komatsu Ltd.: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments

TABLE 40 Liebherr: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments

TABLE 41 Sandvik AB: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments

TABLE 42 Volvo Construction Equipment: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments

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