Top 10: Mining Equipment Manufacturers
The mining industry is undergoing a transformative phase, driven by the integration of advanced technologies such as AI which are enhancing operational efficiency, safety and environmental sustainability. Automation is becoming a cornerstone, allowing equipment to perform in harsh environments with minimal human intervention, thereby increasing safety and productivity. Predictive maintenance, powered by AI, is reducing downtime by forecasting equipment failures before they occur, while there is a growing emphasis on energy efficiency and carbon reduction, with manufacturers focusing on developing eco-friendly solutions.
As global demand for minerals rises, mining equipment manufacturers must adapt to these trends by innovating and offering more sustainable, efficient and intelligent machinery to meet the evolving needs of their customers. Here, Mining Digital highlights the Top 10 mining equipment manufacturers.
10: Sandvik AB
Revenue: US$11.98m (2023)
CEO: Stefan Widing
Headquarters: Stockholm, Sweden
Sandvik AB has long been a leading player in the global mining equipment market. Founded in 1862, the firm has a rich history of innovation, continuously developing cutting-edge technologies to address the evolving needs of the mining industry.
The company’s extensive product range, which includes rock-drilling tools, cutting and grinding equipment and advanced automation systems, is renowned for its exceptional performance and durability. The firm also provides comprehensive aftermarket services, ensuring that its customers receive comprehensive support throughout the lifecycle of their equipment.
9: HD Hyundai Infracore
Revenue: US$3.77bn (2023)
CEO: Young Cheul Cho
Headquarters: Incheon, South Korea
Formerly known as Doosan Infracore, South Korean multinational corporation HD Hyundai Infracore has firmly established itself as a prominent player in the global mining equipment manufacturing industry. The company has evolved from its humble beginnings as a machinery manufacturer to a diversified conglomerate with a focus on construction, industrial and infrastructure solutions.
Renowned for its innovative approach and commitment to quality, HD Hyundai Infracore's mining equipment portfolio boasts a comprehensive range of excavators, wheel loaders, and articulated dump trucks, designed to deliver unparalleled performance, efficiency and reliability in the most demanding environments.
8: Terex Corporation
Revenue: US$5.2bn (2023)
CEO: Simon Meester
Headquarters: Norwalk, Connecticut, USA
Terex Corporation, a global leader in the manufacturing of mining equipment, has established itself as a formidable player in the industry. The company boasts an extensive portfolio of innovative products and solutions designed to meet the evolving needs of the mining sector.
With a commitment to engineering excellence and a keen understanding of the challenges faced by mining operations, Terex has consistently delivered reliable and high-performing equipment, from advanced excavators and haul trucks to cutting-edge material handlers and crushers.
7: Epiroc AB
Revenue: US$5.68bn (2023)
CEO: Helena Hedblom
Headquarters: Stockholm, Sweden
With a rich heritage dating back to 1873, Epiroc has established itself as a leading global provider of premium mining equipment and solutions. Renowned for its innovative approach and commitment to sustainability, Epiroc has carved out a formidable niche in the highly competitive mining industry.
Backed by a skilled workforce and a focus on research and development, Epiroc's product portfolio encompasses a diverse range of tools, machinery and services tailored to the unique needs of the mining sector.
6: Zoomlion Heavy Industry Science & Technology Co
Revenue: US$6.56bn (2023)
CEO: Chun Xin Zhan
Headquarters: Hunan, China
Zoomlion Heavy Industry Science & Technology is a prominent Chinese manufacturer of construction and mining equipment. Founded in 1992, the company has grown to become one of the largest players in the global mining machinery market. Headquartered in Changsha, Hunan Province, Zoomlion boasts an extensive product range that includes excavators, loaders, dump trucks and other specialised equipment tailored for the mining industry.
Zoomlion's commitment to innovation has enabled it to secure lucrative contracts with mining firms around the world.
5: Hitachi Construction Machinery Co., Ltd.
Revenue: US$9.57bn
CEO: Francesco Quaranta
Headquarters: Tokyo, Japan
Hitachi Construction Machinery is a prominent Japanese multinational corporation specialising in the manufacture and distribution of heavy construction equipment. Established in 1970 as a spin-off from Hitachi, the company has grown to become one of the leading players in the global mining equipment market, with a strong presence across Europe, the Americas, Asia and Oceania.
From hydraulic excavators and wheel loaders to dump trucks and rock drills, the company's diverse portfolio caters to the diverse needs of the mining industry, enabling clients to boost productivity and minimise operational costs.
4: Volvo Construction Equipment
Revenue: US$10.03bn (2023)
CEO: Melker Jernberg
Headquarters: Gothenburg, Sweden
Volvo Construction Equipment, a subsidiary of the Volvo Group, has established itself as a prominent player in the mining equipment industry. The company boasts a rich heritage dating back to the early 20th century when it first began producing heavy machinery for construction and mining applications.
Renowned for its commitment to innovation and sustainability, Volvo Construction Equipment has consistently introduced cutting-edge technologies that have transformed the way the industry operates. From fuel-efficient engines to advanced telematics systems, Volvo’s equipment is renowned for its reliability, productivity and environmental stewardship.
3: Liebherr Group
Revenue: US$15.3bn (2023)
CEO: Jack Henry
Headquarters: Bulle, Switzerland
German-Swiss engineering conglomerate Liebherr Group has grown to encompass a diverse portfolio of products and services, with a strong focus on the mining sector.
Liebherr’s mining division offers an extensive range of high-performance equipment, including excavators, haul trucks, dozers and loaders, all engineered to meet the demands of the most challenging mining environments. The company continues to develop advanced technologies, such as its pioneering use of hybrid and all-electric drive systems, which have significantly improved the efficiency and sustainability of mining operations.
2: Komatsu Ltd.
Revenue: US$26.6bn (2023)
CEO: Hiroyuki Ogawa
Headquarters: Tokyo, Japan
Established in 1921, Komatsu has grown to become one of the world's leading producers of heavy machinery, with a strong focus on the mining and construction sectors.
Komatsu's comprehensive product portfolio includes a diverse range of excavators, bulldozers, wheel loaders, and other specialised equipment designed to meet the demanding needs of mining operations worldwide. Known for their robust construction, advanced technology, and impressive performance, Komatsu's machines have earned a reputation for reliability and efficiency, making them a popular choice among mine operators across the globe.
Komatsu has also distinguished itself through its commitment to sustainability and environmental stewardship. The company has invested heavily in the development of eco-friendly technologies, such as hybrid and electric-powered machinery, to reduce the carbon footprint of mining activities and promote more sustainable practices within the industry.
1: Caterpillar Inc.
Revenue: US$67.1bn (2023)
CEO: Jim Umpleby
Headquarters: Irving, Texas, USA
Caterpillar Inc. is a global leader in the manufacturing of heavy machinery and equipment, with a strong focus on the mining industry. Headquartered in Deerfield, Illinois, the company has a rich history dating back to 1925 when it was formed through the merger of the Holt Manufacturing Company and the C.L. Best Tractor Company.
Today, Caterpillar boasts an extensive product portfolio that includes excavators, loaders, dozers, trucks and a wide range of specialised mining equipment. With a global presence in over 200 countries and territories, the company has firmly established itself as a trusted brand among mining operations worldwide.
Renowned for its commitment to innovation and technological advancement, Caterpillar continuously invests in research and development to enhance the efficiency, productivity and sustainability of its offerings, which range from electric-powered machines to autonomous systems.
**************
Make sure you check out the latest edition of Mining Digital and also sign up to our global conference series - Manufacturing LIVE 2024
**************
Mining Digital is a BizClik brand
