Mining Machinery Market: By Component, By Security type, By End User and Region Forecast 2020-2031

Mining Machinery Market Size, Share, Growth, Trends, and Global Industry Analysis: By Component (Hardware Solutions, Software Solutions, Services), By Security type (Network Security, Application Security, Cloud Security, Wireless Security, Endpoint Security, Others), By End User (Discrete, Process) and Region Forecast 2020-2031

Mining Machinery Market size was valued at US$ 142.0 billion in 2024 and is expected to reach US$ 197.3 billion by 2031, growing at a significant CAGR of 4.2% from 2025-2031. Moreover, the U.S. Mining Machinery Market is projected to grow at a CAGR of 3.9% over the forecast period. The market refers to the industry that manufactures, distributes, and uses equipment to extract minerals and resources from the earth. This comprises machinery for surface mining, underground mining, and mineral processing. Excavators, drills, trucks, loaders, crushers, and other specialized equipment used to extract coal, metals, and minerals are among the most common forms of mining machinery. These machines are critical to increasing production, safety, and efficiency in mining operations.

The market is steadily expanding, propelled by rising demand for minerals in industries such as construction, energy, and electronics. As the global demand for natural resources grows, mining companies are investing substantially in modern gear to increase operating efficiency, reduce downtime, and improve safety standards. Technological improvements like as automation, remote-controlled equipment, and AI integration, which help to optimize mining processes, are also driving the market.

Furthermore, the growing emphasis on sustainable mining techniques and the use of environmentally friendly gear is transforming the market dynamics. Asia-Pacific is the largest market for mining machinery due to its extensive mining activities in countries like as China and India, but North America and Europe also have substantial demand, particularly for innovative mining technology.

List of Instances

  • In January 2022, Honeywell International Inc. and Acalvio Technologies (USA) joined forces. To launch HTDP, a tool for detecting known and emerging cyberattacks in commercial buildings' OT settings. To deter intruders, the complex active defense system employs autonomous deception strategies and offers high-fidelity threat detection.
  • In August 2022, IBM Corporation introduced the Secure Access Service Edge (SASE) solution. To help organizations implement cloud-delivered security closer to users and devices that access corporate resources. SASE is a cloud-based system that brings together software-defined networking and network security technologies.

Facts & Figures

  • As of August 2024, the number of cyberattacks on key infrastructure sectors such as electricity and utilities increased by 60% over the previous year, indicating an escalated threat picture.
  • In June 2023, industrial enterprises boosted their spending on cloud security solutions by over 35% year on year, showing the growing need to protect cloud-based industrial applications.
  • By April 2024, endpoint security spending in the industrial sector had increased by 45%, showing increased worries about safeguarding devices in industrial networks.

Key Developments:

  • In October 2024, Kaspersky launched new cybersecurity solutions for industrial organizations. These solutions are designed to solve the unique issues that industrial environments encounter, which frequently include a combination of legacy systems, operational technology (OT), and industrial control systems (ICS).
  • In September 2024, MicroSec, a cybersecurity supplier for OT and ICS, launched CyberAssessor for OT/ICS, an AI-driven cybersecurity assessment tool designed to evaluate IEC 62443 compliance. This innovative platform completely automates the assessment process, improving the accuracy of compliance checks at both the site and device levels, and includes third-party equipment, hardware, and software. CyberAssessor's streamlined dashboard, or "single pane" view, provides a comprehensive snapshot of an organization's cybersecurity status. It creates extensive reports that include risk levels, compliance scores, and targeted suggestions, providing a comprehensive summary to assist with informed decision-making in OT/ICS situations.

Mining Machinery Market Segmentation:

Based on the component:

  • Hardware Solutions
  • Software Solutions
  • Services

In the industrial cybersecurity industry, software solutions are the primary driver of the component segment. Software plays a crucial role in providing scalable, adaptive, and highly adjustable security frameworks that are compatible with a wide range of industrial operations. Unlike hardware, which may be limited in its scalability and adaptability, software solutions enable real-time monitoring, vulnerability management, and threat detection, all of which are critical as industries face increasingly complex cyber threats. With the proliferation of connected devices and industrial IoT, software solutions have become critical for businesses looking to secure complex networks spanning many buildings, devices, and distant operations.

The integration of artificial intelligence (AI) and machine learning (ML) into software systems boosts predictive analytics, enabling for proactive cyber threat detection and mitigation. Advanced software systems can analyse massive amounts of data in real time, identifying irregularities that may indicate a security breach. With the growing frequency of cyberattacks on industrial systems, businesses are increasingly relying on software solutions to automate and streamline their cybersecurity tactics, eventually lowering response times and mitigating possible harm. As businesses embrace digital transformation, demand for strong software solutions is likely to drive market expansion in industrial cybersecurity, establishing this component as a key driver.

Based on the Security type:

  • Network Security
  • Application Security
  • Cloud Security
  • Wireless Security
  • Endpoint Security
  • Others

In the industrial cybersecurity market, network security is the primary driver of the security type segment. Network security solutions are critical because they secure the integrity and accessibility of data throughout a company's complete communication network. This is especially important in industrial settings where large amounts of sensitive data are exchanged between equipment, machines, and remote sites. With the increased deployment of IoT devices and networked systems in industries, networks have become more sophisticated, making them more vulnerable to cyber assaults. Network security helps to prevent unwanted access, misuse, or theft of data, ensuring that key operations are secure and uninterrupted.

Based on the end user:

  • Discrete
    • Automotive
    • Heavy Manufacturing
    • Packaging
    • Aerospace
    • Defence
    • Others
  • Process
    • Chemical
    • Oil and Gas
    • Food and Beverages
    • Energy and Power
    • Others

In the industrial cybersecurity market, the Process category currently leads in terms of cybersecurity solution demand and acceptance. This area includes industries such as oil and gas, chemical, food and beverage, and energy and power, all of which rely significantly on automated processes and industrial control systems (ICS) to run continuously and in real time. These processes are especially vulnerable to cyber-attacks due to their sensitivity and criticality. A successful attack on these businesses might interrupt production while also causing considerable economic losses, environmental dangers, and even national security threats, notably in the energy and oil and gas sectors.

Mining Machinery Market Summary

Study Period

2025 - 2031

Base Year

2024

CAGR

4.2%

Largest Market

North-America

Fastest Growing Market

Asia-Pacific

Mining Machinery Market Dynamics

Drivers

One of the key drivers of the cybersecurity industry is the growing threat of cyber-attacks on vital infrastructure. As industries integrate IoT, automation, and digital transformation into their operations, they expose their systems to possible cyber threats. Energy, manufacturing, and transportation industries rely extensively on industrial control systems (ICS), making them particularly vulnerable to cyber-attacks that could interrupt operations and pose substantial financial and safety hazards. The increasing frequency of high-profile attacks on critical infrastructure around the world has increased the demand for strong cybersecurity measures, prompting businesses to invest in industrial cybersecurity solutions to protect their assets, ensure operational continuity, and comply with government and regulatory mandates.

Restraints 

The high cost of deploying complete cybersecurity solutions is a significant impediment in the industrial cybersecurity sector, which can be prohibitively expensive for smaller businesses. Industrial cybersecurity involves specialized technology, software, and qualified workers to efficiently manage and monitor systems. Furthermore, firms with legacy infrastructure face additional problems, as integrating contemporary cybersecurity solutions with outdated systems can be difficult and expensive. Many firms also lack cybersecurity knowledge in-house, resulting in higher expenditures for third-party services. These financial and operational hurdles might stifle market growth, as smaller businesses may postpone or avoid investing in cybersecurity solutions due to budget constraints.

Opportunities 

Cloud-based security solutions represent a substantial growth opportunity in the industrial cybersecurity sector. As more organizations move their operations and data to the cloud, there is a growing demand for solutions that are especially built to safeguard cloud-based infrastructure and applications. Cloud-based cybersecurity provides scalability, flexibility, and administrative simplicity, enabling enterprises to build security solutions that may adapt to changing operational needs. The prospect is especially important for small and medium-sized businesses (SMEs), which may lack the capacity to implement sophisticated on-premises cybersecurity equipment. By implementing cloud-based security, these businesses can safeguard their operations from cyber threats without incurring the exorbitant costs of traditional systems.

Trends

The implementation of artificial intelligence (AI) and machine learning (ML) in cybersecurity is a significant trend driving the industrial cybersecurity industry. AI and machine learning allow for more effective threat detection and prediction by evaluating enormous data sets in real time, recognizing trends, and adapting to new cyber threats. These technologies enhance threat detection, shorten response times, and lessen the need for manual intervention. Furthermore, AI-powered automation in cybersecurity is streamlining security operations centres (SOCs) by managing repetitive activities and delivering more detailed insights into vulnerabilities. As cyber threats increase, the application of AI in cybersecurity is projected to grow, improving industrial system resilience and solving the challenges of safeguarding increasingly linked and automated environments.

Mining Machinery Market Segmentation Analysis

Report Benchmarks

Details

Report Study Period

2025 - 2031

Market Size in 2024

US$ 142.0 billion

Market Size in 2031

US$ 197.3 billion

Market CAGR

4.2%

By Component

  • Hardware Solutions
  • Software Solutions
  • Services

By Security Type

  • Network Security
  • Application Security
  • Cloud Security
  • Wireless Security
  • Endpoint Security
  • Others

By End User

  • Discrete
  • Process

By Region

  • North America (U.S., Canada)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)
  • Latin America (Mexico, Brazil, Argentina, Columbia, Rest of Latin America)
  • Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)

Analyst Review

According to PBI Analyst, the industrial cybersecurity market is rapidly expanding, driven by the growing demand for strong security measures to protect key infrastructure and industrial operations from sophisticated cyber threats. Increased adoption of the Internet of Things (IoT) and Industrial Internet of Things (IIoT) in industries such as manufacturing, energy, and transportation has broadened the attack surface, making cybersecurity a major priority. As enterprises update their operational technology (OT) environments, there is an increasing demand for solutions that assure standard compliance, protect data integrity, and prevent operational disruptions.

Key market trends include the incorporation of AI-powered threat detection, real-time monitoring, and the use of zero-trust frameworks to manage risks associated with remote access and networked systems. Despite these developments, the market faces problems due to the intricacies of security legacy systems and the need for specialized expertise in OT cybersecurity.

Key Features of the Report

  • The mining machinery market report provides granular level information about the market size, regional market share, historic market (2020-2024), and forecast (2025-2031)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
  • The report analyses the impact of the socio-political environment through PESTLE Analysis and competition through Porter Five Force Analysis.

Download Free Sample Report

Frequently Asked Questions

The mining machinery market size was valued at US$ 142.0 billion in 2024 and is projected to grow at a significant CAGR of 4.2% from 2025-2031.

The increasing amount of cyberattacks on vital infrastructure, particularly in industries such as manufacturing, energy, and transportation, is driving demand for industrial cybersecurity solutions to protect operational technology (OT) and industrial control systems (ICS) from threats.

AI-powered cybersecurity solutions are gaining popularity, providing real-time threat detection, automated response, and improved risk management for industrial businesses, ensuring ongoing protection as networks grow more linked.

Market research is segmented based on component, security type, end user, and region.

The Asia-Pacific region is emerging as a prominent driver of the industrial cybersecurity market, owing to fast digital transformation in industries such as manufacturing, as well as increased cybersecurity investments in the region.

1.Executive Summary
2.Global Mining Machinery Market Introduction 
2.1.Global Mining Machinery Market  - Taxonomy
2.2.Global Mining Machinery Market  - Definitions
2.2.1.Component
2.2.2. Security Type
2.2.3.End User
2.2.4.Region
3.Global Mining Machinery Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4.Global Mining Machinery Market Analysis, 2020 - 2024 and Forecast 2025 - 2031
4.1.  Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5.Global Mining Machinery Market  By Component, 2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million)
5.1. Hardware Solutions
5.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. Software Solutions
5.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
5.3. Services
5.3.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.3.3. Market Opportunity Analysis 
6.Global Mining Machinery Market  By  Security Type, 2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million)
6.1. Network Security
6.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. Application Security
6.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
6.3. Cloud Security
6.3.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.3.3. Market Opportunity Analysis 
6.4. Wireless Security
6.4.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.4.3. Market Opportunity Analysis 
6.5. Endpoint Security
6.5.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.5.3. Market Opportunity Analysis 
6.6. Others
6.6.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.6.3. Market Opportunity Analysis 
7.Global Mining Machinery Market  By End User, 2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million)
7.1. Discrete
7.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. Process
7.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
8.Global Mining Machinery Market  By Region, 2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million)
8.1. North America
8.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.1.3. Market Opportunity Analysis 
8.2. Europe
8.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.2.3. Market Opportunity Analysis 
8.3. Asia Pacific (APAC)
8.3.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.3.3. Market Opportunity Analysis 
8.4. Middle East and Africa (MEA)
8.4.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.4.3. Market Opportunity Analysis 
8.5. Latin America
8.5.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.5.3. Market Opportunity Analysis 
9.North America Mining Machinery Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million)
9.1. Component Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.1.1.Hardware Solutions
9.1.2.Software Solutions
9.1.3.Services
9.2.   Security Type Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.2.1.Network Security
9.2.2.Application Security
9.2.3.Cloud Security
9.2.4.Wireless Security
9.2.5.Endpoint Security
9.2.6.Others
9.3.  End User Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.3.1.Discrete
9.3.2.Process
9.4.  Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.4.1.United States of America (USA)
9.4.2.Canada
10.Europe Mining Machinery Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million)
10.1. Component Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.Hardware Solutions
10.1.2.Software Solutions
10.1.3.Services
10.2.   Security Type Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.Network Security
10.2.2.Application Security
10.2.3.Cloud Security
10.2.4.Wireless Security
10.2.5.Endpoint Security
10.2.6.Others
10.3.  End User Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.Discrete
10.3.2.Process
10.4.  Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.4.1.Germany
10.4.2.France
10.4.3.Italy
10.4.4.United Kingdom (UK)
10.4.5.Spain
11.Asia Pacific (APAC) Mining Machinery Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million)
11.1. Component Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.Hardware Solutions
11.1.2.Software Solutions
11.1.3.Services
11.2.   Security Type Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.Network Security
11.2.2.Application Security
11.2.3.Cloud Security
11.2.4.Wireless Security
11.2.5.Endpoint Security
11.2.6.Others
11.3.  End User Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.Discrete
11.3.2.Process
11.4.  Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.4.1.China
11.4.2.India
11.4.3.Australia and New Zealand (ANZ)
11.4.4.Japan
11.4.5.Rest of APAC
12.Middle East and Africa (MEA) Mining Machinery Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million)
12.1. Component Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.Hardware Solutions
12.1.2.Software Solutions
12.1.3.Services
12.2.   Security Type Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.Network Security
12.2.2.Application Security
12.2.3.Cloud Security
12.2.4.Wireless Security
12.2.5.Endpoint Security
12.2.6.Others
12.3.  End User Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.Discrete
12.3.2.Process
12.4.  Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.4.1.GCC Countries
12.4.2.South Africa
12.4.3.Rest of MEA
13.Latin America Mining Machinery Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million)
13.1. Component Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.1.1.Hardware Solutions
13.1.2.Software Solutions
13.1.3.Services
13.2.   Security Type Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.2.1.Network Security
13.2.2.Application Security
13.2.3.Cloud Security
13.2.4.Wireless Security
13.2.5.Endpoint Security
13.2.6.Others
13.3.  End User Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.3.1.Discrete
13.3.2.Process
13.4.  Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.4.1.Brazil
13.4.2.Mexico
13.4.3.Rest of LA
14. Competition Landscape
14.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
14.2.1.Cisco Systems Inc
14.2.2.Honeywell International Inc
14.2.3.IBM
14.2.4.Rockwell Automation
14.2.5.Dell Inc
14.2.6.Siemens
14.2.7.Gen Digital Inc
14.2.8.Broadcom
14.2.9.Microsoft
15. Research Methodology 
16. Appendix and Abbreviations 

Key Market Players

  • Cisco Systems Inc
  • Honeywell International Inc
  • IBM
  • Rockwell Automation
  • Dell Inc
  • Siemens
  • Gen Digital Inc
  • Broadcom
  • Microsoft

Related Industry Reports