Product Code: GVR-4-68040-792-6
Mine Hoisting System Market Summary
The global mine hoisting system market size was estimated at USD 1,781.7 million in 2024 and is projected to reach USD 2,849.9 million by 2033, growing at a CAGR of 5.5% from 2025 to 2033. The industry is driven by the growing demand for efficient and safe underground mining operations.
Increasing mineral extraction activities, particularly in developing economies, are encouraging the adoption of advanced hoisting technologies. Another major driver is the rising investment in deep mining projects for precious metals, coal, and rare earth minerals. The demand for high-capacity and energy-efficient hoisting systems has surged as mines extend deeper underground. Governments and private players are also focusing on sustainable mining practices, prompting the use of electric and hybrid hoist systems. Furthermore, advancements in material strength and motor technologies are enhancing system reliability and lifespan, further boosting market expansion.
Global Mine Hoisting System Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global mine hoisting system market report based on product, mining type, power source, end-use, and region.
- Product Outlook (Revenue, USD Million, 2021 - 2033)
- Friction hoists
- Drum hoists
- Blair Multi-Rope hoists
- Mining Type Outlook (Revenue, USD Million, 2021 - 2033)
- Coal mining
- Metal mining
- Non-metallic mineral mining
- Power Source Outlook (Revenue, USD Million, 2021 - 2033)
- Electric
- Hydraulic
- Others
- End-use Outlook (Revenue, USD Million, 2021 - 2033)
- Underground mining
- Surface mining
- Regional Outlook (Revenue, USD Million, 2021 - 2033)
- North America
- Europe
- Germany
- France
- Italy
- Spain
- UK
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Latin America
- Middle East and Africa
- Saudi Arabia
- UAE
- South Africa
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segment Snapshot
- 2.3. Competitive Landscape Snapshot
Chapter 3. Global Mine Hoisting System Market Variables, Trends & Scope
- 3.1. Market Concentration & Growth Prospect Mapping
- 3.2. Industry Value Chain Analysis
- 3.2.1. Raw Material/Component Outlook
- 3.2.2. Manufacturer Outlook
- 3.2.3. Distribution Outlook
- 3.2.4. End User Outlook
- 3.3. Regulatory Framework
- 3.4. Technology Overview
- 3.5. Market Dynamics
- 3.5.1. Market Driver Analysis
- 3.5.2. Market Restraint Analysis
- 3.5.3. Market Challenges Analysis
- 3.5.4. Market Opportunity Analysis
- 3.6. Economic Mega-Trend Analysis
- 3.7. Industry Analysis Tools
- 3.7.1. Porter's Five Forces Analysis
- 3.7.2. Macro-environmental Analysis
Chapter 4. Global Mine Hoisting System Market: Product Estimates & Trend Analysis
- 4.1. Product Movement Analysis & Market Share, 2024 & 2033
- 4.2. Global Mine Hoisting System Market Estimates & Forecast, By Product, 2021 to 2033 (USD Million)
- 4.3. Friction hoists
- 4.3.1. Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 4.4. Drum Hoists
- 4.4.1. Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 4.5. Blair Multi-Rope hoists
- 4.5.1. Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 5. Global Mine Hoisting System Market: Mining Type Estimates & Trend Analysis
- 5.1. Mining Type Movement Analysis & Market Share, 2024 & 2033
- 5.2. Global Mine Hoisting System Market Estimates & Forecast, By Distribution Channel, 2021 to 2033 (USD Million)
- 5.3. Coal mining
- 5.3.1. Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 5.4. Metal mining
- 5.4.1. Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 5.5. Non-metallic mineral mining
- 5.5.1. Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 6. Global Mine Hoisting System Market: Power Source Estimates & Trend Analysis
- 6.1. Power Source Movement Analysis & Market Share, 2024 & 2033
- 6.2. Global Mine Hoisting System Market Estimates & Forecast, By Power Source, 2021 to 2033 (USD Million)
- 6.3. Electric
- 6.3.1. Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.4. Hydraulic
- 6.4.1. Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.5. Others
- 6.5.1. Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 7. Global Mine Hoisting System Market: End Use Estimates & Trend Analysis
- 7.1. End Use Movement Analysis & Market Share, 2024 & 2033
- 7.2. Global Mine Hoisting System Market Estimates & Forecast, By End Use, 2021 to 2033 (USD Million)
- 7.3. Underground mining
- 7.3.1. Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 7.4. Surface mining
- 7.4.1. Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 8. Global Mine Hoisting System Market: Regional Estimates & Trend Analysis
- 8.1. Regional Movement Analysis & Market Share, 2024 & 2033
- 8.2. North America
- 8.2.1. Market Estimates & Forecast, 2021 - 2033 (USD Million)
- 8.2.2. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
- 8.2.3. Market estimates & forecast, by mining type, 2021 - 2033 (USD Million)
- 8.2.4. Market estimates & forecast, by power source, 2021 - 2033 (USD Million)
- 8.2.5. Market estimates & forecast, by end use, 2021 - 2033 (USD Million)
- 8.2.6. U.S.
- 8.2.6.1. Key country dynamics
- 8.2.6.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
- 8.2.6.3. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
- 8.2.6.4. Market estimates & forecast, by mining type, 2021 - 2033 (USD Million)
- 8.2.6.5. Market estimates & forecast, by power source, 2021 - 2033 (USD Million)
- 8.2.6.6. Market estimates & forecast, by end use, 2021 - 2033 (USD Million)
- 8.2.7. Canada
- 8.2.7.1. Key country dynamics
- 8.2.7.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
- 8.2.7.3. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
- 8.2.7.4. Market estimates & forecast, by mining type, 2021 - 2033 (USD Million)
- 8.2.7.5. Market estimates & forecast, by power source, 2021 - 2033 (USD Million)
- 8.2.7.6. Market estimates & forecast, by end use, 2021 - 2033 (USD Million)
- 8.2.8. Mexico
- 8.2.8.1. Key country dynamics
- 8.2.8.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
- 8.2.8.3. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
- 8.2.8.4. Market estimates & forecast, by mining type, 2021 - 2033 (USD Million)
- 8.2.8.5. Market estimates & forecast, by power source, 2021 - 2033 (USD Million)
- 8.2.8.6. Market estimates & forecast, by end use, 2021 - 2033 (USD Million)
- 8.3. Europe
- 8.3.1. Market Estimates & Forecast, 2021 - 2033 (USD Million)
- 8.3.2. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
- 8.3.3. Market estimates & forecast, by mining type, 2021 - 2033 (USD Million)
- 8.3.4. Market estimates & forecast, by power source, 2021 - 2033 (USD Million)
- 8.3.5. Market estimates & forecast, by end use, 2021 - 2033 (USD Million)
- 8.3.6. Germany
- 8.3.6.1. Key country dynamics
- 8.3.6.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
- 8.3.6.3. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
- 8.3.6.4. Market estimates & forecast, by mining type, 2021 - 2033 (USD Million)
- 8.3.6.5. Market estimates & forecast, by power source, 2021 - 2033 (USD Million)
- 8.3.6.6. Market estimates & forecast, by end use, 2021 - 2033 (USD Million)
- 8.3.7. France
- 8.3.7.1. Key country dynamics
- 8.3.7.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
- 8.3.7.3. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
- 8.3.7.4. Market estimates & forecast, by mining type, 2021 - 2033 (USD Million)
- 8.3.7.5. Market estimates & forecast, by power source, 2021 - 2033 (USD Million)
- 8.3.7.6. Market estimates & forecast, by end use, 2021 - 2033 (USD Million)
- 8.3.8. UK
- 8.3.8.1. Key country dynamics
- 8.3.8.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
- 8.3.8.3. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
- 8.3.8.4. Market estimates & forecast, by mining type, 2021 - 2033 (USD Million)
- 8.3.8.5. Market estimates & forecast, by power source, 2021 - 2033 (USD Million)
- 8.3.8.6. Market estimates & forecast, by end use, 2021 - 2033 (USD Million)
- 8.3.9. Italy
- 8.3.9.1. Key country dynamics
- 8.3.9.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
- 8.3.9.3. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
- 8.3.9.4. Market estimates & forecast, by mining type, 2021 - 2033 (USD Million)
- 8.3.9.5. Market estimates & forecast, by power source, 2021 - 2033 (USD Million)
- 8.3.9.6. Market estimates & forecast, by end use, 2021 - 2033 (USD Million)
- 8.3.10. Spain
- 8.3.10.1. Key country dynamics
- 8.3.10.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
- 8.3.10.3. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
- 8.3.10.4. Market estimates & forecast, by mining type, 2021 - 2033 (USD Million)
- 8.3.10.5. Market estimates & forecast, by power source, 2021 - 2033 (USD Million)
- 8.3.10.6. Market estimates & forecast, by end use, 2021 - 2033 (USD Million)
- 8.4. Asia Pacific
- 8.4.1. Market Estimates & Forecast, 2021 - 2033 (USD Million)
- 8.4.2. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
- 8.4.3. Market estimates & forecast, by mining type, 2021 - 2033 (USD Million)
- 8.4.4. Market estimates & forecast, by power source, 2021 - 2033 (USD Million)
- 8.4.5. Market estimates & forecast, by end use, 2021 - 2033 (USD Million)
- 8.4.6. China
- 8.4.6.1. Key country dynamics
- 8.4.6.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
- 8.4.6.3. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
- 8.4.6.4. Market estimates & forecast, by mining type, 2021 - 2033 (USD Million)
- 8.4.6.5. Market estimates & forecast, by power source, 2021 - 2033 (USD Million)
- 8.4.6.6. Market estimates & forecast, by end use, 2021 - 2033 (USD Million)
- 8.4.7. India
- 8.4.7.1. Key country dynamics
- 8.4.7.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
- 8.4.7.3. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
- 8.4.7.4. Market estimates & forecast, by mining type, 2021 - 2033 (USD Million)
- 8.4.7.5. Market estimates & forecast, by power source, 2021 - 2033 (USD Million)
- 8.4.7.6. Market estimates & forecast, by end use, 2021 - 2033 (USD Million)
- 8.4.8. Japan
- 8.4.8.1. Key country dynamics
- 8.4.8.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
- 8.4.8.3. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
- 8.4.8.4. Market estimates & forecast, by mining type, 2021 - 2033 (USD Million)
- 8.4.8.5. Market estimates & forecast, by power source, 2021 - 2033 (USD Million)
- 8.4.8.6. Market estimates & forecast, by end use, 2021 - 2033 (USD Million)
- 8.4.9. Australia
- 8.4.9.1. Key country dynamics
- 8.4.9.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
- 8.4.9.3. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
- 8.4.9.4. Market estimates & forecast, by mining type, 2021 - 2033 (USD Million)
- 8.4.9.5. Market estimates & forecast, by power source, 2021 - 2033 (USD Million)
- 8.4.9.6. Market estimates & forecast, by end use, 2021 - 2033 (USD Million)
- 8.4.10. South Korea
- 8.4.10.1. Key country dynamics
- 8.4.10.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
- 8.4.10.3. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
- 8.4.10.4. Market estimates & forecast, by mining type, 2021 - 2033 (USD Million)
- 8.4.10.5. Market estimates & forecast, by power source, 2021 - 2033 (USD Million)
- 8.4.10.6. Market estimates & forecast, by end use, 2021 - 2033 (USD Million)
- 8.5. Latin America
- 8.5.1. Market Estimates & Forecast, 2021 - 2033 (USD Million)
- 8.5.2. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
- 8.5.3. Market estimates & forecast, by mining type, 2021 - 2033 (USD Million)
- 8.5.4. Market estimates & forecast, by power source, 2021 - 2033 (USD Million)
- 8.5.5. Market estimates & forecast, by end use, 2021 - 2033 (USD Million)
- 8.5.6. Brazil
- 8.5.6.1. Key country dynamics
- 8.5.6.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
- 8.5.6.3. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
- 8.5.6.4. Market estimates & forecast, by mining type, 2021 - 2033 (USD Million)
- 8.5.6.5. Market estimates & forecast, by power source, 2021 - 2033 (USD Million)
- 8.5.6.6. Market estimates & forecast, by end use, 2021 - 2033 (USD Million)
- 8.5.7. Argentina
- 8.5.7.1. Key country dynamics
- 8.5.7.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
- 8.5.7.3. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
- 8.5.7.4. Market estimates & forecast, by mining type, 2021 - 2033 (USD Million)
- 8.5.7.5. Market estimates & forecast, by power source, 2021 - 2033 (USD Million)
- 8.5.7.6. Market estimates & forecast, by end use, 2021 - 2033 (USD Million)
- 8.6. Middle East & Africa
- 8.6.1. Market Estimates & Forecast, 2021 - 2033 (USD Million)
- 8.6.2. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
- 8.6.3. Market estimates & forecast, by mining type, 2021 - 2033 (USD Million)
- 8.6.4. Market estimates & forecast, by power source, 2021 - 2033 (USD Million)
- 8.6.5. Market estimates & forecast, by end use, 2021 - 2033 (USD Million)
- 8.6.6. Saudi Arabia
- 8.6.6.1. Key country dynamics
- 8.6.6.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
- 8.6.6.3. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
- 8.6.6.4. Market estimates & forecast, by mining type, 2021 - 2033 (USD Million)
- 8.6.6.5. Market estimates & forecast, by power source, 2021 - 2033 (USD Million)
- 8.6.6.6. Market estimates & forecast, by end use, 2021 - 2033 (USD Million)
- 8.6.7. UAE
- 8.6.7.1. Key country dynamics
- 8.6.7.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
- 8.6.7.3. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
- 8.6.7.4. Market estimates & forecast, by mining type, 2021 - 2033 (USD Million)
- 8.6.7.5. Market estimates & forecast, by power source, 2021 - 2033 (USD Million)
- 8.6.7.6. Market estimates & forecast, by end use, 2021 - 2033 (USD Million)
- 8.6.8. South Africa
- 8.6.8.1. Key country dynamics
- 8.6.8.2. Market Estimates & Forecast, 2021 - 2033 (USD Million)
- 8.6.8.3. Market estimates & forecast, by product, 2021 - 2033 (USD Million)
- 8.6.8.4. Market estimates & forecast, by mining type, 2021 - 2033 (USD Million)
- 8.6.8.5. Market estimates & forecast, by power source, 2021 - 2033 (USD Million)
- 8.6.8.6. Market estimates & forecast, by end use, 2021 - 2033 (USD Million)
Chapter 9. Global Mine Hoisting System Market - Competitive Landscape
- 9.1. Recent Developments & Impact Analysis, By Key Market Participants
- 9.2. Company Categorization
- 9.3. Company Dashboard Analysis
- 9.4. Vendor Landscape
- 9.4.1. List of Key Raw Mining Type/Component Providers
- 9.4.2. List of Key Manufacturers
- 9.4.3. List of Key Distributors
- 9.5. Company Market Share Analysis, 2024
- 9.6. Company Positioning Analysis, 2024
- 9.7. Company Heat Map Analysis, 2024
- 9.8. Strategy Mapping
- 9.9. Company Profiles
- 9.9.1. ABB Ltd.
- 9.9.1.1. Participant's overview
- 9.9.1.2. Financial performance
- 9.9.1.3. Product benchmarking
- 9.9.1.4. Recent developments
- 9.9.2. FLSmidth & Co. A/S
- 9.9.2.1. Participant's overview
- 9.9.2.2. Financial performance
- 9.9.2.3. Product benchmarking
- 9.9.2.4. Recent developments
- 9.9.3. CITIC Heavy Industries Co., Ltd.
- 9.9.3.1. Participant's overview
- 9.9.3.2. Financial performance
- 9.9.3.3. Product benchmarking
- 9.9.3.4. Recent developments
- 9.9.4. SIEMAG TECBERG group
- 9.9.4.1. Participant's overview
- 9.9.4.2. Financial performance
- 9.9.4.3. Product benchmarking
- 9.9.4.4. Recent developments
- 9.9.5. Sichuan Mining Machinery
- 9.9.5.1. Participant's overview
- 9.9.5.2. Financial performance
- 9.9.5.3. Product benchmarking
- 9.9.5.4. Recent developments
- 9.9.6. INCO engineering
- 9.9.6.1. Participant's overview
- 9.9.6.2. Financial performance
- 9.9.6.3. Product benchmarking
- 9.9.6.4. Recent developments
- 9.9.7. Hebi Wanfeng Mining Machinery Manufacturing Co., Ltd.
- 9.9.7.1. Participant's overview
- 9.9.7.2. Financial performance
- 9.9.7.3. Product benchmarking
- 9.9.7.4. Recent developments
- 9.9.8. Hepburn Engineering Inc.
- 9.9.8.1. Participant's overview
- 9.9.8.2. Financial performance
- 9.9.8.3. Product benchmarking
- 9.9.8.4. Recent developments
- 9.9.9. Konecranes Plc
- 9.9.9.1. Participant's overview
- 9.9.9.2. Financial performance
- 9.9.9.3. Product benchmarking
- 9.9.9.4. Recent developments
- 9.9.10. Frontier-Kemper Constructors, Inc.
- 9.9.10.1. Participant's overview
- 9.9.10.2. Financial performance
- 9.9.10.3. Product benchmarking
- 9.9.10.4. Recent developments
- 9.9.11. Timberland Equipment
- 9.9.11.1. Participant's overview
- 9.9.11.2. Financial performance
- 9.9.11.3. Product benchmarking
- 9.9.11.4. Recent developments
- 9.9.12. Zitron
- 9.9.12.1. Participant's overview
- 9.9.12.2. Financial performance
- 9.9.12.3. Product benchmarking
- 9.9.12.4. Recent developments
- 9.9.13. J.D. Neuhaus
- 9.9.13.1. Participant's overview
- 9.9.13.2. Financial performance
- 9.9.13.3. Product benchmarking
- 9.9.13.4. Recent developments
- 9.9.14. Shengda Mining Equipment Co., Ltd.
- 9.9.14.1. Participant's overview
- 9.9.14.2. Financial performance
- 9.9.14.3. Product benchmarking
- 9.9.14.4. Recent developments
- 9.9.15. Columbus McKinnon Corporation
- 9.9.15.1. Participant's overview
- 9.9.15.2. Financial performance
- 9.9.15.3. Product benchmarking
- 9.9.15.4. Recent developments