South Korea Mining Equipment Market Size, Share, and COVID-19 Impact Analysis, By Type (Excavators, Loaders, Dozers, Motor Graders, Dump Trucks, and Others), By Equipment (Underground Mining, Surface Mining, Crushing, Pulverizing and Screening, Drills and Breakers, and Others), and South Korea Mining Equipment Market Insights, Industry Trend, Forecasts to 2035

South Korea Mining Equipment Market Insights Forecasts to 2035

• The South Korea Mining Equipment Market Size was Estimated at USD 1,510.1 Million in 2024
• The Market Size is Expected to Grow at a CAGR of around 4.36% from 2025 to 2035
• The South Korea Mining Equipment Market Size is Expected to Reach USD 2,414.7 Million by 2035

According to a research report published by Spherical Insights and Consulting, The South Korea Mining Equipment Market Size is anticipated to reach USD 2,414.7 Million by 2035, growing at a CAGR of 4.36% from 2025 to 2035. Within the major factors propelling the market are the growing need for raw materials, government policies and assistance, the globalization of the mining sector, continuous technological developments, the growing focus on environmental sustainability, the surge in construction activities, and the existence of unexplored mineral resources.

Market Overview

The South Korea mining equipment market encompasses the manufacturing, distributing, and use of equipment and tools intended for the extraction and processing of mineral resources are all included in the South Korean mining equipment market. This market supports a range of uses, such as coal, non-coal, and metal mining, and is essential to industries like infrastructure, energy generation, and building. Additionally, the market is expanding such of the increased emphasis on environmental sustainability and the use of eco-friendly mining techniques, which have led to higher investments in machinery that reduces environmental impact. Furthermore, South Korea's need for sturdy, high-capacity mining equipment has been strengthened by the rise in building activities and the increased demand for minerals in infrastructure projects, which has aided in the market's expansion. Additionally, the need for specialized equipment that is suited to a variety of geological conditions is being fueled by the discovery of new mining sites and the existence of unexplored mineral resources. In addition, rising global commodity prices have encouraged more production and exploration, which has increased demand for sophisticated mining equipment for the best possible resource extraction.

Report Coverage

This research report categorizes the market for the South Korea mining equipment market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea mining equipment market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea mining equipment market.

Driving Factors

The market is expanding mainly due to the need for sophisticated mining equipment to improve extraction efficiency, which is driven by the growing demand for raw materials, such as metals and minerals, brought on by industrialization and infrastructure development. A favorable outlook for market expansion is also being created by the implementation of supportive government policies and initiatives for the mining industry, as well as large investments in mineral exploration and development. The need for cutting-edge equipment to stay competitive and meet international standards has also increased due to the globalization of the mining sector and the nation's involvement in international mineral markets, which has supported market expansion. Concurrently, continuous developments in mining technology, including remote sensing, automation, and artificial intelligence (AI), have led to a move toward more advanced and effective mining equipment, which has helped the market grow.

Restraining Factors

The lengthy and intricate regulatory processes may hamper project development and investment. Reducing bureaucratic obstacles and streamlining the regulatory framework are essential for luring investment and promoting ethical mining practices.

Market Segmentation

The South Korea Mining Equipment Market share is classified into type and equipment.

• The excavators segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea mining equipment market is segmented by type into excavators, loaders, dozers, motor graders, dump trucks, and others. Among these, the excavators segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. In order to perform tasks like digging, material handling, and overburden removal, this section includes hydraulic excavators, shovels, and electric rope shovels.

• The surface mining segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea mining equipment market is segmented by equipment into underground mining, surface mining, crushing, pulverizing and screening, drills and breakers, and others. Among these, the surface mining segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. This is driven by the need for wheel loaders, draglines, bulldozers, haul trucks, and excavators. These devices are crucial for the extraction of minerals that are found close to the earth's surface, such as coal, limestone, and some metal ores. The strong industrial expansion and infrastructure development in South Korea have greatly raised the demand for surface mining equipment.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea 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.

List of Key Companies

• Mottrol Co. Ltd.
• Xpanner Inc.
• Huwin
• Desco Inc.
• DONG MYUNG TOPA CO LTD
• HD Hyundai Infracore
• Others

Recent Developments:

• In September 2024, South Korea's HD Hyundai Construction Equipment Co. and HD Hyundai Infracore Co. announced their participation in Mining Indonesia 2024, the largest mining equipment exhibition in Asia, which was held in Jakarta, Indonesia.

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 South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea Mining Equipment Market based on the below-mentioned segments:

South Korea Mining Equipment Market, By Type

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

South Korea Mining Equipment Market, By Equipment

• Underground Mining
• Surface Mining
• Crushing
• Pulverizing and Screening
• Drills and Breakers
• Others