Founder: Mining equipment market size steadily increasing; China's off-highway wide-body dump trucks accelerate going global

Founder released a research report stating that the mining equipment market is expected to continue expanding in the future, with its size projected to reach RMB977.6 billion by 2030, representing a compound annual growth rate of 5.8% from 2025 to 2030. The global mining equipment market is showing several important development trends, mainly concentrated in areas such as the rise of new energy mining vehicles, technological progress in unmanned mining, transformation toward high-end equipment, increased market concentration, and the development of larger equipment. As international recognition of off-highway wide-body dump trucks gradually increases, China's exports of off-highway wide-body dump trucks continued to rise year by year from 2020 to 2025, with 7,552 units exported in 2025, up 22% year on year. Founder's main points are as follows: Mining equipment refers to machinery professionally engaged in mining, mineral processing, and exploration It is the collective term for specialized machinery used in mineral extraction, mineral processing, and exploration operations. Product classification: 1) Excavation equipment, including mining excavators and drilling rigs. 2) Transportation equipment, including mine transportation equipment (such as mining dump trucks, off-highway wide-body dump trucks, and articulated trucks), and continuous systems suitable for long-distance or high-throughput transportation (such as belt conveyors and in-pit crushing and conveying systems). 3) Auxiliary mining equipment (mainly including drilling rigs, crushing machinery, and conveyor systems). Global mining equipment market size: RMB738.5 billion in 2025, with a compound annual growth rate of 4.7% from 2020 to 2025 Looking ahead, the market is expected to continue expanding, with its size projected to reach RMB977.6 billion by 2030, representing a compound annual growth rate of 5.8% from 2025 to 2030. In the global market, China and North America are the two regions with the largest demand for mining equipment. In 2025, China's mining equipment market size was RMB116.8 billion and is expected to continue growing at a compound annual growth rate of 7.0%, reaching RMB163.8 billion by 2030. The global mining equipment market is showing several important development trends, mainly concentrated in areas such as the rise of new energy mining vehicles, technological progress in unmanned mining, transformation toward high-end equipment, increased market concentration, and the development of larger equipment The global new energy mining equipment market size is expected to grow from RMB30.9 billion in 2024 to RMB145.6 billion in 2030, representing a compound annual growth rate of 29.5% during the forecast period. The global autonomous mining equipment market size is expected to grow from RMB25 billion in 2024 to RMB119 billion in 2030, representing a compound annual growth rate of 29.7% during the forecast period. Off-highway dump trucks include off-highway wide-body dump trucks (wide-body trucks) and rigid mining dump trucks (rigid trucks) Wide-body trucks have a lower unit price and are mainly developed under the leadership of domestic manufacturers. They are suitable for scenarios with low manpower, small mines, and short mine life, and have a shorter capital payback period; rigid trucks have more advantages in scenarios with high labor costs, large mines, and long mine life. Overseas recognition of off-highway wide-body dump trucks has increased, and China's product export volume has grown year by year China's sales of off-highway wide-body dump trucks grew in 2021-2022 and declined somewhat in 2023-2025, due to insufficient downstream demand and falling coal prices affecting domestic open-pit coal mines, leading to insufficient operating rates. As international recognition of off-highway wide-body dump trucks gradually increases, China's exports of off-highway wide-body dump trucks continued to rise year by year from 2020 to 2025, with 7,552 units exported in 2025, up 22% year on year. Investment recommendation: Suggest paying attention to SANY INT'L, TONLY, XCMG Construction Machinery, etc. Risk warnings: Risks of macroeconomic and industrial policy fluctuations, risks that technological progress falls short of expectations, risks of raw material price fluctuations, and technology iteration risks.