Market Share of North America Mining Equipment Industry
The North American mining equipment market is fairly consolidated with Liebherr International, Terex Corporation, Komatsu, Metso Outotec, SANY, Caterpillar Inc., Volvo Construction Equipment, and other companies.
Major players have increased their R&D expenditure exponentially to integrate innovation with excellence in performance. The demand for high-performance, high-efficiency, and safe handling equipment is expected to increase market competition over the forecast period.
In September 2023, Albemarle and Caterpillar shared an agreement under which Albemarle would buy battery-powered mining equipment from heavy vehicle maker Caterpillar. In return, Albemarle will become the main supplier of lithium to Caterpillar for electric vehicle batteries.
North America Mining Equipment Market Leaders
Terex Corporation
Komatsu Ltd
Caterpillar Inc.
SANY Group
Volvo Construction Equipment
*Disclaimer: Major Players sorted in no particular order
