Surface Mining Equipment Market: COVID-19 Business Continuity Plan | $4.62 Billion Incremental Growth During 2020-2024| Technavio

·3-min read

The new surface mining equipment market research report from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.

This press release features multimedia. View the full release here:

Technavio has announced its latest market research report titled Global Surface Mining Equipment Market 2020-2024 (Graphic: Business Wire)

Get detailed insights on the COVID-19 pandemic Crisis and Recovery analysis of the surface mining equipment market.

Get FREE report sample within MINUTES

"One of the primary growth drivers for this market is the rise in demand for housing projects globally", says a senior analyst for the Industrials industry at Technavio. As the markets recover Technavio expects the surface mining equipment market size to grow by USD 4.62 billion during the period 2020-2024.

Surface Mining Equipment Market Segment Highlights for 2020

  • The surface mining equipment market is expected to post a year-over-year growth rate of 2.80%.

  • Based on application, the strip mining segment led the market in 2019. The growth of this segment can be attributed to the extensive use of coal across various sectors.

  • The market growth in this segment will be significant during the forecast period.

Regional Analysis

  • 51% of the growth will originate from the APAC region.

  • Factors such as the high demand for metal and minerals in developing countries and the growth of the urban population are fostering the market growth in APAC.

  • China and India are the key markets for surface mining equipment in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Click here to learn about report detailed analysis and insights on how you can leverage them to grow your business.

Related Reports on Industrials Include:

Global Underground Mining Equipment Market - Global underground mining equipment market is segmented by application (room and pillar mining, longwall mining, borehole mining, and others) and geography (APAC, Europe, MEA, North America, and South America). Click Here to Get an Exclusive Free Sample Report

Global Mining Ventilation Systems Market - Global mining ventilation systems market is segmented by product (hardware, software, and services) and geography (APAC, North America, South America, MEA, and Europe). Click Here to Get an Exclusive Free Sample Report


  • The surface mining equipment market size is expected to accelerate at a CAGR of almost 4% during the forecast period.

  • The surface mining equipment market is segmented by Application (Strip mining, Open-pit mining, and Mountaintop removal) and Geography (APAC, North America, Europe, South America, and MEA).

  • The market is fragmented due to the presence of many established vendors holding significant market share.

  • The research report offers information on several market vendors, including Atlas Copco AB, Caterpillar Inc., Deere & Co., Hitachi Ltd., J C Bamford Excavators Ltd., Komatsu Ltd., Larsen and Toubro Ltd., Sandvik AB, Vale SA, and Vermeer Corp.

Register for a free trial today to access 17,000+ market research reports using

Technavio's SUBSCRIPTION platform

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200