According to Cognitive Market Research, The Global Mining Locomotive market size is USD 2251.2 million in 2023 and will expand at a compound annual growth rate (CAGR) of 4.20% from 2023 to 2030.
North America held the major market of more than 30% of the global revenue with a market size of USD 675.36 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 2.4% from 2023 to 2030
Europe market of more than 26% of the global revenue with a market size of USD 585.31 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 2.7% from 2023 to 2030.
Asia-Pacific emerges as the fastest-growing market of more than 36% of the global revenue with a market size of USD 810.43 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2023 to 2030.
Latin America market of more than 5% of the global revenue with a market size of USD 112.56 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 3.6% from 2023 to 2030.
Middle East and Africa market of more than 3.00% of the global revenue with a market size of USD 67.54 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 3.9% from 2023 to 2030
The demand for Mining Locomotives is rising due to the increasing demand for automation and efficiency and Rising Mining Activities and Expansion Projects.
Demand for underground Mining remains higher in the Mining Locomotive market.
The standard Gauge category held the highest Mining Locomotive market revenue share in 2023.
