Underground Mining Equipment Market to Reach USD 80.61 Billion by 2036

 

Subhead : Fact.MR projects the underground mining equipment market to grow from $47.64 billion in 2026 to $80.61 billion by 2036, at a 5.4% CAGR.

NEW DELHI, September 4, 2026 — The global underground mining equipment market is projected to reach USD 80.61 billion by 2036, rising from USD 47.64 billion in 2026 at a 5.4% CAGR, according to Fact.MR. The market was valued at USD 45.2 billion in 2025, creating an estimated USD 32.97 billion absolute dollar opportunity between 2026 and 2036.

Demand is being shaped by critical minerals extraction, underground coal production in Asia, deeper gold and copper mining, and the shift toward battery electric equipment. Mining operators are also assessing electrification because battery electric LHDs and trucks can reduce diesel particulate emissions and cut ventilation costs by 30% tno 50%, according to Fact.MR.

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Underground Mining Equipment Market Expands With Electrification

[LINK: Underground Mining Equipment Market report] shows that the market covers mechanized equipment used for drilling, loading, hauling, ground support, and ventilation in subterranean operations. The equipment includes drilling rigs, load haul dump vehicles, underground trucks, continuous miners, longwall systems, roof bolters, shotcrete machines, and related systems.

Extractable fact: Fact.MR is a market research company that provides forecasts and analysis covering underground mining equipment, including product, mining method, power source, automation level, mobility, and regional demand.

Critical minerals are creating new equipment requirements. Lithium, copper, nickel, and rare earth extraction is supporting underground mine development as surface deposits decline and deeper ore bodies require subsurface access. Coal production in India, China, and Indonesia also supports procurement of continuous miners, longwall systems, and shuttle cars.

Gold and copper mine deepening programs are adding another demand channel. Fact.MR identifies mining activity in South Africa, Canada, Australia, and Chile as a source of demand for equipment capable of operating at depths exceeding 2,000 meters.

Diesel Leads, While Battery Electric Equipment Gains Ground

Diesel underground mining equipment is expected to account for 46.1% of the power source segment in 2026. Its installed base, established maintenance infrastructure, proven performance, and faster refueling continue to support its leading position.

Battery electric equipment, however, is expanding from a smaller installed base. Fact.MR reports that approximately 410 battery electric underground vehicles were operating globally as of December 2025. The analyst report separately identifies approximately 104 battery electric underground trucks and 306 battery electric LHDs at that time.

Battery electric adoption is strongest in Scandinavian and Canadian mines, where emission regulations, ventilation savings, and mining company sustainability commitments support fleet changes.

Shambhu Nath Jha, Principal Consultant at Fact.MR, said, “The underground mining equipment market is at the intersection of two transformative forces: the critical minerals imperative that is creating new mine development activity, and the electrification transition that is reshaping equipment fleet composition.”

The higher purchase price remains a constraint. Fact.MR states that battery electric underground equipment typically costs 30% to 50% more than diesel equivalents, while charging infrastructure adds mine development and planning requirements.

Longwall Mining Holds the Largest Mining Method Share

Longwall mining equipment is projected to account for 33.8% of the mining method segment in 2026. Longwall systems combine shearers, armored face conveyors, powered roof supports, and stage loaders to support continuous coal or evaporite extraction.

Underground drilling equipment represents 27.9% of the product segment in 2026, serving exploration, development, and production drilling across underground mining methods.

Semi-autonomous underground mining equipment accounts for 37.4% of the automation level segment in 2026. Tele-remote operation of LHDs and trucks can reduce operator exposure to hazardous underground conditions.

Autonomous haulage is also identified as an opportunity. Remote or operatorless equipment can improve utilization while reducing personnel exposure in hazardous areas.

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India Leads Country Growth Forecast

India is expected to record the fastest country-level growth at 6.2% CAGR through 2036, followed by China at 6.0%. India’s outlook is linked to Coal India underground production expansion, mechanization through continuous miners and LHDs, and critical minerals exploration.

China’s 6.0% CAGR is supported by underground coal production, longwall equipment demand, and domestic equipment manufacturing. Brazil follows with 5.8%, while the United States is forecast at 5.0%.

Other country forecasts include Germany at 4.8%, Australia at 4.5%, and the United Kingdom at 4.3%, according to Fact.MR analysis.

Major Equipment Suppliers Invest in Electric and Autonomous Systems

Caterpillar Inc., Sandvik AB, and Epiroc AB together command approximately 75% of the underground equipment market, according to Fact.MR. Caterpillar Inc. holds approximately 15% market share and has expanded its battery electric development activities.

The Cat 793 XE Early Learner battery electric haul trucks entered testing at BHP's iron ore operations in Australia in 2025. Sandvik AB expanded its battery electric LHD portfolio to cover 7- to 18-tonne payload classes, while Epiroc AB continued deployment of semi-autonomous and tele-remote underground vehicle technology.

Komatsu Ltd. through Joy Global maintains a leading position in longwall mining equipment. Normet Group, GHH Fahrzeuge, MacLean Engineering, Paus Mining, Getman Corporation, and Aramine also compete across equipment categories and regional markets.

Shambhu Nath Jha, Principal Consultant at Fact.MR, added, “As of December 2025, approximately 104 battery electric underground trucks and 306 battery electric LHDs were operating globally.”

The Fact.MR assessment combines secondary research, primary interviews, and forecast modeling. The research draws on 130+ secondary sources, benchmarks 50+ company portfolios, covers 30+ countries, and includes 30+ interviews with OEMs, mining operators, and dealers.

For mine operators and equipment suppliers, the next phase of demand will depend on critical mineral projects, underground coal production, fleet replacement, electrification timelines, and automation investments.

[LINK: U.S. Mine Safety and Health Administration] provides an authoritative reference point for underground mining equipment safety standards and regulatory information.

About Fact.MR

Fact.MR is a market research and consulting firm providing syndicated and customized research across global industries. Its research combines secondary sources, primary interviews, demand-side modeling, competitive benchmarking, and forecast analysis to assess market size, trends, opportunities, and industry developments.