Global mining machinery market conditions continue to improve, with intelligentization and overseas expansion emerging as the industry’s key growth drivers.

Recently, several securities research firms have released industry reports on the mining machinery sector, analyzing its prospects from perspectives including capital expenditure, market demand, and technological trends. Overall, the global mining machinery market is at a critical juncture of expanding prosperity: overseas mining companies are accelerating their capital spending, domestic firms are stepping up their international expansion, and intelligent equipment is gaining rapid traction—these three factors currently underpin the industry’s development.

The global market exceeds US$100 billion, and capital expenditures by overseas mining companies are expected to accelerate.

According to data from Precedence Research, the global mining machinery market is valued at approximately USD 133.09 billion and is projected to reach USD 229.2 billion by 2035, with a compound annual growth rate of 5.59% over this period. The market encompasses two major segments: mining and mineral processing. The mining segment includes equipment such as tunneling, drilling, hoisting, transportation, and loading machinery, while the mineral processing segment comprises large-scale equipment like crushers, mills, slurry pumps, and flotation machines.

From the demand side, prices for key metals such as copper and gold remain at historically high levels, prompting leading overseas mining companies to unveil more aggressive capital‑expenditure plans. According to a research report by Guojin Securities, companies including BHP, Rio Tinto, Glencore, and Freeport‑McMoRan have all raised their capital‑expenditure forecasts. Industry data indicate that leading global mining‑equipment manufacturers are generally seeing accelerated growth in both revenue and new order intake through 2025: Sandvik’s mining segment is expected to post a 6.46% year‑over‑year increase in revenue and a 15.55% year‑over‑year rise in new orders, with new orders in the third and fourth quarters of 2025 up 23% and 20%, respectively—underscoring robust demand across both open‑pit and underground mining operations.

China’s mining machinery exports continue to grow, with overseas expansion emerging as a key driver of domestic companies’ growth.

In the domestic market, mining companies led by Zijin Mining have continued to expand their global footprint, driving supporting mining‑equipment firms to accelerate their international outreach. In 2024, China’s mining sector recorded outward investment flows of US$21.26 billion, up 115.21% year on year. Meanwhile, Chinese exports of mining machinery have been steadily rising in recent years, reaching US$5.87 billion in 2025, a year-on-year increase of 12.99%.

Research institutions note that leading domestic mining‑equipment manufacturers have generally posted robust export growth, with overseas revenues typically commanding higher gross margins than domestic sales. Going forward, a rising share of exports is expected to further enhance corporate profitability. Moreover, the harsh operating conditions in mining create substantial aftermarket opportunities; for instance, in crushing and grinding operations, the annual aftermarket market can amount to 20%–30% of the equipment’s original value.

The drive to advance intelligent mining is gaining momentum, with AI technologies fully integrated into every stage of the production process.

At the policy level, in May 2026, the National Mine Safety Administration and the Ministry of Industry and Information Technology jointly issued the “Notice on Launching Pilot Projects for Verifying the Application of Mining Robots,” focusing on seven application scenarios: tunneling, mining, transportation, mineral processing, auxiliary operations, safety monitoring, and emergency rescue. The notice specifies that the verification period for tunneling, mining, and mineral-processing robots shall be no less than six months, while for transportation and safety‑monitoring robots, at least two deployment sites are required, with each site undergoing a verification period of no less than six months.

Industry data show that by the end of 2025, China had built 1,066 intelligent coal mines, with intelligent production capacity accounting for more than 65% of the total. The application of artificial intelligence technologies in the coal industry is advancing rapidly, spanning key areas such as mine operations and management, safety supervision, and equipment maintenance and operation. Meanwhile, autonomous driving technology is being swiftly deployed in open-pit mines; by the end of 2025, the number of operational driverless mining trucks in China had exceeded 4,000 units.

At recent industry trade shows, intelligent equipment and system solutions have emerged as the centerpiece of the exhibition. Innovative products such as intelligent unmanned warehouse‑clearing machines, smart fully mechanized mining control systems, and fiber‑optic acoustic monitoring systems for belt conveyors were showcased, underscoring the rapid evolution of mining equipment from conventional machinery toward an intelligent paradigm characterized by “sensing + decision‑making + execution.”

Industry Outlook

According to a consensus among multiple research institutions, the mining machinery industry is experiencing a confluence of growth opportunities: rising capital expenditures by global mining companies are boosting equipment demand; Chinese‑owned mining firms expanding overseas are opening up global market access for domestic suppliers; and advances in electrification and autonomous technologies are providing domestic equipment manufacturers with avenues for differentiated competitiveness. A research report from Orient Securities notes that this round of cyclical upturn in the mining machinery sector differs from previous cycles, with a key driver being the intensification of geopolitical disruptions amid deglobalization. As countries increasingly prioritize securing resilient supply chains for critical resources, there remains substantial room for Chinese‑made mining machinery to expand its global market share.

As the drive toward intelligent mining transitions from pilot projects and demonstration initiatives to large-scale deployment, mining equipment companies with robust technological expertise and a global footprint are poised to capture greater growth opportunities in this round of industry upturn.