Top 30 Companies in Global Mining Truck Market (2025-2035): Spherical Insights Analysis
RELEASE DATE: Aug 2025 Author: Spherical InsightsRequest Free Sample Speak to Analyst
Description
According To a research report published by Spherical Insights & Consulting, The Global Mining Truck Market Size is projected To Grow from USD 24.0 Billion in 2024 to USD 35.7 Billion by 2035, at a CAGR of 3.68% during the forecast period 2025-2035. The mining truck market expands based on rising demand for minerals, advancements in technology such as automation, development of mining operations, growth in infrastructure construction, and government encouragement of sustainable, efficient, and secure mining practices.
Introduction
The mining truck market refers to manufacturing and selling heavy-duty, heavy trucks to move produced ores and minerals from mines. They are crucial in large mines for economical bulk commodity transportation of items such as coal, iron ore, and precious metals across rough terrain. Industry expansion is driven by increasing demand for minerals due to industrialization, infrastructure development, and expanded mining activities in the rest of the world. Besides reducing human risk, the advanced safety features and autonomous driving improve operational efficiency, further creating market potential. Core competencies are the trucks ruggedness, high capacity, and resilience to extreme environments. Opportunities are derived from rising investments in automation, growing exploration activities in developing nations, and the movement toward environmentally friendly, electric-based mining trucks. Governments everywhere aid the market with mining regulations, infrastructure development, and funding schemes for more sustainable and safer ways of mining. These initiatives drive up demand for advanced mining trucks that maximize productivity and reduce environmental footprint, thus positioning the worldwide mining truck industry as a critical part of the evolving mining industry landscape.
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Mining Truck Market Size & Statistics
- The Market Size for Mining Truck Was Estimated to be worth USD 24.0 Billion in 2024.
- The Market is Going to Expand at a CAGR of 3.68% between 2025 and 2035.
- The Global Mining Truck Market Size is anticipated to reach USD 35.7 Billion by 2035.
- Asia Pacific is expected to generate the largest demand during the forecast period in the Mining Truck Market
- North America is expected to grow the fastest during the forecast period in the Global Mining Truck Market.
Regional growth and demand
North America is expected to grow the fastest during the forecast period in the mining truck market. North America is also expected to experience rapid growth in the mining truck industry, with extensive mining operations taking place in the US and Canada. The region leads demand for durable trucks, adopting electric and autonomous technologies, with the reinforcement of stringent safety regulations and a strong focus on clean, efficient mining practices.
Asia Pacific is expected to generate the largest demand during the forecast period in the mining truck market. The Asia Pacific market is vast and expanding rapidly due to China, India, Australia, and Indonesia's industrialization and infrastructural development. These nations are large producers and users of minerals such as coal, copper, and aluminum. Growing industrial, building, and automotive industries fuel demand for high-performance mining trucks, growing mining upgrades, and investments.
Top 10 trends in the Mining Truck Market
- Electric and hybrid mining trucks
- Adoption of autonomous mining trucks
- Sustainability and green mining
- Advanced telematics and fleet management
- Remote operations and control
- Digital twins and simulation technologies
- Adaptability and modular design
- Lightweight and durable materials
- Predictive maintenance technologies
- Blockchain for transparency
1. Electric and hybrid mining trucks
Electric and hybrid mining trucks are revolutionizing the industry by lowering fuel consumption, emissions, and operational costs. These environmentally friendly solutions match the world's goals for sustainability and enable companies to comply with environmental laws. They operate more quietly, require less maintenance, and conserve energy, making them ideal for modern, responsible mining operations.
2. Adoption of autonomous mining trucks
The use of autonomous mining trucks promotes safety, saves labor expenses, and improves operational effectiveness. They work around the clock without human error and are suitable for toxic environments. This innovation is transforming the mining sector by facilitating smarter, more affordable, and efficient material movement.
3. Sustainability and green mining
Sustainability and green mining trends are fuelling low-emission, sustainable mining truck demand. Electric and hybrid models are being developed by manufacturers to minimize their environmental footprint. This transition contributes to global climate targets, complies with regulatory requirements, and enables mining companies to embrace more sustainable and environmentally friendly operations.
4. Advanced telematics and fleet management
Advanced telematics and fleet management systems maximize mining truck performance through real-time information on vehicle condition, location, and utilization. This trend maximizes productivity, improves safety, minimizes downtime, and supports predictive maintenance, allowing mining organizations to optimize fleet efficiency and minimize operating costs in challenging conditions.
5. Remote operations and control
Remote operation and control allow it to operate mining trucks remotely from central locations, reducing the number of people present on the site. The trend increases employee safety, particularly in risky zones, and operational effectiveness by facilitating constant surveillance, improved responsiveness, and integration with autonomous machines in contemporary mines.
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Stay informed with the latest industry insights and market trends to identify new opportunities and drive growth in the mining truck market. To explore more in-depth trends, insights, and forecasts, please refer to our detailed report.
Top 15 Companies Leading the Mining Truck Market
- Caterpillar Inc.
- Liebherr Group
- Komatsu Ltd.
- Atlas Copco
- Terex Trucks
- BharatBenz
- CNH Industrial
- BelAZ
- KRESS CORPORATION
- Volvo Group
- Mercedes-Benz
- Scania AB
- Doosan Infracore
- Voltas Limited
- Hitachi Construction Machinery Co., Ltd.
1. Caterpillar Inc.
Headquarters: Deerfield, Illinois, USA
Caterpillar Inc. is a leading manufacturer of mining trucks globally, known for its extensive lineup of high-performance off-highway trucks for large scale mining operations. Caterpillar supplies both electric drive and mechanical drive trucks with payloads from 100 tons to more than 400 tons. Caterpillar leads the technology curve, providing autonomous mining trucks under the MineStar Command suite to enhance productivity and safety. With a robust worldwide distribution network and aftermarket service, Caterpillar provides efficient, lasting, and productive solutions for surface mining conditions across the globe.
2. Liebherr Group
Headquarters: Bulle, Switzerland
Liebherr Group is a major player in the mining truck market, known for producing high-capacity, ultra-class haul trucks tailored for large-scale surface mining. Its T 264, T 274, and T 284 mining trucks offer payloads from 240 to 375 tons, with advanced fuel efficiency and robust designs. Liebherr integrates its diesel electric drive systems and focuses on sustainability, performance, and low operating costs. The corporation further invests in autonomous haulage technology and digital solutions to enhance mine productivity and safety. Liebherr trucks are used extensively in coal, copper, and iron ore mining activities around the world.
3. Komatsu Ltd.
Headquarters: Tokyo, Japan
Komatsu Ltd. is a leading player in the global mining truck industry, with a broad portfolio of rigid and electric drive haul trucks that suit heavy-duty mining activities. Preferred for their reliability, fuel economy, and modern technology, Komatsu's mining trucks come with payloads as high as 400 tons. Komatsu is the innovator of autonomous haulage systems (AHS), with its Autonomous Haulage Vehicle (AHV) fleet deployed in the world's leading mines. Komatsu focuses on safety, productivity, and environmental performance, assisting mining businesses in maximizing operations using digital solutions, electrification, and integration of smart equipment.
4. Atlas Copco
Headquarters: Nacka, Sweden
Atlas Copco, through its offshoot Epiroc, is a dominant player in the underground mining truck industry. The company is involved in producing compact, high-performance underground haul trucks for narrow vein and deep level mining. The trucks are manufactured with the intention of being durable, agile, and fuel-efficient in tight spaces. Atlas Copco concentrates on electric and battery-powered underground vehicles to minimize emissions and noise levels in mines. Their product offerings focus on safety, automation, and productivity, and make them a reliable supplier for modern underground mining operations across the globe.
5. Terex Trucks
Headquarters: Motherwell, Scotland, UK
Terex Trucks is a leading producer of articulated and rigid dump trucks for mining as well as heavy construction. Renowned for their durability and reliability, Terex produces trucks with payloads from 18 to 91 tons and is perfectly suited for small to medium-sized mining operations. The business is centered on fuel efficiency, reliability, and simplicity of maintenance. Terex Trucks also prioritizes technological integration, including telematics and safety features, to increase productivity and operational control in harsh mining conditions globally.
Are you ready to discover more about the mining truck market?
The report provides an in-depth analysis of the leading companies operating in the global mining truck market. It includes a comparative assessment based on their product portfolios, business overviews, geographical footprint, strategic initiatives, market segment share, and SWOT analysis. Each company is profiled using a standardized format that includes:
Company Profiles
- Caterpillar Inc.
- Business Overview
- Company Snapshot
- Products Overview
- Company Market Share Analysis
- Company Coverage Portfolio
- Financial Analysis
- Recent Developments
- Merger and Acquisitions
- SWOT Analysis
- Liebherr Group
- Komatsu Ltd.
- Atlas Copco
- Terex Trucks
- BharatBenz
- CNH Industrial
- BelAZ
- KRESS CORPORATION
- Others.
Conclusion
The mining truck market involves the production of heavy-duty trucks for transporting minerals in large-scale mining. Growth is dominated by increased mineral demand, industrialization, and infrastructure improvement. The major trends are electric and autonomous trucks, sustainability, exclusive telematics, and remote operating, improving efficiency and safety. Major industry players such as Caterpillar, Liebherr, Komatsu, Atlas Copco, and Terex provide innovative, robust trucks customized for surface mining and underground mining. Government support and technological innovation improve market potential even further, encouraging cleaner, safer, and more efficient mining operations globally.
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