India Mining Equipment Market Size, Share, By Type (Excavators, Loaders, Dozers, Motor Graders, Dump Trucks, And Others), By Equipment (Underground Mining, Surface Mining, Drills & Breakers, And Others), By Application (Metal Mining, Mineral Mining, And Coal Mining), And India Mining Equipment Market Insights, Industry Trend, Forecasts to 2035.

India Mining Equipment Market Insights Forecasts to 2035

• India Mining Equipment Market Size 2024: USD 5.9 Bn
• India Mining Equipment Market Size 2035:  USD 11.38 Bn
• India Mining Equipment Market CAGR 2024: 6.15%
• India Mining Equipment Market Segments: Type, Equipment, and Application

India Mining Equipment Market Size is the subset of an industry that provides tools and machines used in extracting, transporting, processing and handling minerals and ores. This market includes almost all heavy equipment required to support surface and underground mining operations, including drilling equipment, loaders with scoops or buckets, haul trucks, excavators, crushers and material handling systems. All of these types of machinery meet India's current and future demand for raw materials, as well as for supporting the growth of its infrastructure that will continue to increase the economic sector. In addition, many states in India have adopted legislation to promote the production of mineral resources through the enhanced availability of modern equipment and the development of increased domestic mineral production, providing for additional demand for newly developed mining equipment.

The mining equipment in India are backed by government support, including the National Critical Minerals Mission, which had an initial budget of Rs.16,300 Crores, in order to secure supply chains for critical minerals, and to increase exploration and mining activities on critical minerals through liberalising coal sector investment rules, and reforming its national mineral policy. The overall result of these initiatives will be to create a demand for mining equipment.

As technology advances, India mining equipment providers are now using automation, digitalisation, the Internet of Things, telematics, remote monitoring, and predictive maintenance. Many businesses use semi-autonomous and autonomous electric vehicles in their fleet operations to achieve greater energy efficiency and sustainability, while achieving higher levels of safety and efficiency.

Market Dynamics of the India Mining Equipment Market:

The India mining equipment market is driven by the increasing global coal, iron ore, and critical minerals, rapid and increased development of infrastructure, urbanisation, increase in steel and power sectors, increasing activity in the mining and minerals sectors, increased capital expenditures under National Infrastructure Programs and government policies, and continued movement toward mechanised and technologically enabled mining.

The India mining equipment market is restrained by the high initial capital costs, strict environmental and ESG compliance standards to follow, shortage of skilled operators able to utilize advanced machinery, and intense competition from lower-cost overseas imports challenging local manufacturers.

The future of India mining equipment market is bright and promising, with versatile opportunities emerging from the growth of critical mineral exploration increases the demand for specialised extraction equipment, green and sustainable mining technology development creates opportunity for the introduction of eco-friendly products, and the continued development and growth of the infrastructure and steel sector supporting ongoing long-term demand for mining equipment. The domestic manufacture and export potential under the Make in India initiative and the PLI scheme are all contributing positively to the growth of the mining equipment market in India.

Market Segmentation

The India Mining Equipment Market share is classified into type, equipment, and application.

By Type:

The India mining equipment market is divided by type into excavators, loaders, dozers, motor graders, dump trucks, and others. Among these, the excavators segment holds the largest revenue market share in 2024 and is anticipated to grow at a significant CAGR during the forecast period. Versatility in digging, loading, and handling diverse materials, high demand for extracting bulk minerals, demand for efficient models reducing operational costs, and widely used in earthmoving machine as a construction equipment all contribute to the excavators segment's dominance and higher spending on mining equipment when compared to other type.

By Equipment:

The India mining equipment market is divided by equipment into underground mining, surface mining, drills & breakers, and others. Among these, the surface mining segment dominated the share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. The surface mining segment dominates because of increase demand for coal and mineral extraction, demand for robust surface machinery, rapid urbanization and cost effective, offering high productivity, and better safety with large machinery like excavators, dozer, and truck for open-pit operations.

By Application:

The India mining equipment market is divided by application into metal mining, mineral mining, and coal mining. Among these, the metal mining segment holds the largest market share in 2024 and is predicted to grow at a significant CAGR during the forecast period. The demand for extensive iron ore extraction, rapid urbanization and government-led infrastructure development projects, sustaining demand for specialized machinery in both surface and underground operations all contribute to the metal mining segment's dominance and higher spending on mining equipment when compared to other application.

Competitive Analysis:

The report offers the appropriate analysis of the key organisations/companies involved within the India mining equipment market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

Top Key Companies in India Mining Equipment Market:

• Caterpillar Inc.
• Komatsu Ltd.
• SandvikAB
• Epiroc AB
• BEML Limited
• Tata Hitachi Construction Machinery
• JCB India
• Liebherr-India Pvt. Ltd.
• Volvo CE India
• Sany Heavy Industry India
• Hyundai CE India
• XCMG India
• Atlas Copco India
• Doosan Bobcat India
• Metso Outotec India
• Others

Recent Developments in India Mining Equipment Market:

In May 2025, Adani Group deployed India’s first hydrogen-powered mining truck for operations in Raipur, Chhattisgarh, as part of a move towards low-emission transport solutions.

In April 2025, BEML launched India’s largest indigenously developed 720-tonne electric rope shovel (BRS21) for large-scale, zero-emission overburden removal in opencast mines.

In January 2025, Gainwell Engineering delivered India’s first home-grown room-and-pillar mining equipment package, including a continuous miner and feeder breaker, to Eastern Coalfields Limited.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at the India, regional, and country levels from 2020 to 2035. Spherical insights has segmented the India mining equipment market based on the below-mentioned segments:

India Mining Equipment Market, By Type

• Excavators
• Loaders
• Dozers
• Motor Graders
• Dump Trucks
• Others

India Mining Equipment Market, By Equipment

• Underground Mining
• Surface Mining
• Drills & Breakers
• Others

India Mining Equipment Market, By Application

• Metal Mining
• Mineral Mining
• Coal Mining