Mining Machinery Battery Market Size, Share, and Industry Analysis, By Type (Lead Acid Battery, Lithium Battery, and Others), By Application (Surface Mining Machinery, Underground Mining Machinery, Mining Processing Machinery, and Others), and Regional Forecast, 2025-2032

There is a growing trend in the mining industry toward electrification of machinery and equipment. Electric mining machinery offers benefits such as reduced emissions, lower operating costs, and improved safety compared to traditional diesel-powered equipment. Batteries play a vital role in powering mining vehicles, including haul trucks, loaders, drill rigs, and underground equipment.

The mining machinery battery market is seeing continuous advancements in battery technology, including lithium-ion batteries, solid-state batteries, and advanced lead-acid batteries. These batteries offer increased energy density, extended longevity, faster charging capabilities, and improved safety features, making them suitable for the mining industry's demanding operating conditions.

Collaborations between mining companies, battery manufacturers, technology suppliers, and research institutions are driving innovation and accelerating the adoption of battery-powered equipment in the mining industry. Partnerships aim to develop customized battery solutions, improve battery performance and reliability, and address the specific needs and challenges of mining applications.

In April 2024, Epiroc, a prominent productivity and sustainability partner for the mining and infrastructure sector, announced a deepening relationship with Battery Electric (Pty) Ltd, their distributor and close partner in South Africa. With the recent order from Battery Electric, the companies continue to improve the safety of underground locomotives in the mining industry. Epiroc has announced its most significant order to date for the company's digital solutions division in South Africa. The order comes from the distributor and close partner Battery Electric (Pty) Ltd, a company focused on the design and development of microprocessor-controlled underground mining locomotive control systems for battery, flatbed, and hydrogen fuel cell-powered systems.

However, the increased environmental concerns regarding the mining sector are expected to hamper mining activities and, consequently, the demand for mining machinery battery demand. The COVID-19 pandemic disrupted global supply chains, causing delays in the procurement of raw materials, components, and finished products used in battery manufacturing. Restrictions on international trade, border closures, and logistical challenges hampered the supply of lithium, cobalt, nickel, and other critical materials required for battery production, affecting the availability and pricing of mining machinery batteries.

KEY INSIGHTS

The report covers the following key insights:

• Recent Advancements in the Mining Machinery Battery Market


• Key Industry Trends


• Regulatory Landscape for Mining Machinery Battery Market


• Key Industry Developments (Mergers, Acquisitions, and Partnerships)


• Impact of COVID-19 on the Market

SEGMENTATION

ANALYSIS BY TYPE

Based on type, the market is segmented into lead acid battery, lithium battery, and others. The lead acid battery segment type dominates the market and might grow considerably during the projection period. Lead-acid batteries have been used in various industrial applications for decades and are well-established as a reliable and proven technology. Their robustness, simplicity, and affordability make them suitable for powering mining machinery in harsh operating environments. Lead-acid batteries offer relatively high power density compared to other battery chemistries, making them capable of delivering the high currents required by heavy-duty mining equipment such as haul trucks, loaders, and drill rigs.

Lithium-ion batteries offer significantly higher energy density compared to lead-acid batteries. This means they can store more energy in a smaller and lighter package, making them ideal for powering heavy mining equipment while reducing overall weight and increasing efficiency.

ANALYSIS BY APPLICATION

The market is classified by application into surface mining machinery, underground mining machinery, mining processing machinery, and others. The surface mining machinery segment is expected to dominate the market and grow significantly during the forecast period. Surface mining accounts for a significant portion of global mining activity, particularly for commodities, such as coal, iron ore, copper, gold, and other minerals. Surface mining operations involve the extraction of minerals from open pits, quarries, and surface mines using heavy machinery such as excavators, haul trucks, loaders, dozers, and drills, all of which are prime candidates for battery-electric conversion.

Underground mining operations often take place in confined spaces with limited ventilation. Diesel-powered equipment used in underground mining can produce harmful emissions, including diesel particulate matter and gases, such as NOx and CO, posing health risks to miners and affecting air quality. Battery-electric machinery offers a cleaner and safer alternative, with zero emissions at the point of use, reducing exposure to harmful pollutants and improving air quality in underground mines.

REGIONAL ANALYSIS

The mining machinery battery market has been studied across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific region is home to several countries with rapidly growing mining industries, including Australia, China, India, Indonesia, and others. These countries have extensive mining operations for commodities such as iron ore, coal, copper, and gold. This factor is driving demand for mining machinery batteries.

The mining industry is global, with significant operations in regions such as North America, South America, Asia Pacific, Europe, and Africa. Each region has its unique characteristics, including the types of minerals mined, mining methods employed, regulatory frameworks, and market dynamics. While North America may have a prominent presence in the mining machinery battery market, other regions also play significant roles based on their mining activities and market demands.

Europe does have mining operations, particularly in countries such as Sweden, Finland, Germany, Poland, and the U.K. However, these operations may not be as extensive or as dominant in certain commodities as those in regions, including Australia, North America, or Asia Pacific. Therefore, the demand for mining machinery batteries in Europe may be influenced by the scale and scope of mining activities in the region.

KEY PLAYERS COVERED

Some major companies in the Mining machinery battery market are Epiroc, 3ME Technology, SAE International, Crown Battery, BorgWarner, Sandvik Mining and Rock Technology, Freudenberg Sealing Technologies, First National Battery, Toshiba Corporation, and LG Chem Limited.

KEY INDUSTRY DEVELOPMENTS

• In November 2023, Komatsu Ltd, through its 100% American subsidiary Komatsu America Corp, agreed to acquire battery manufacturer American Battery Solutions, Inc. (ABS), headquartered in Detroit, Michigan. Komatsu announced the completion of the transaction on December 1, 2023, subject to the completion of all actions necessary to complete the transaction. The immediate impact on the business result of the Komatsu Group is estimated to be small. Komatsu previously announced a battery partnership with Proterra Inc. for its underground mining equipment in October 2021 - Proterra then went bankrupt in August 2023 and was acquired by Volvo Group in November 2023. Komatsu told IM that its partnership with Proterra would continue to implement their joint projects.

• In July 2023, Australian heavy-duty battery manufacturer 3ME Technology Holdings (3ME Technology) welcomed a USD 15 million equity investment from the USD 540 million Australian Business Growth Fund (ABGF), ABGF's first investment to date. The Clean Energy Finance Corporation (CEFC) also supported 3ME's technology with a USD 5 million investment.

Cardiff-based 3ME Technology in the Hunter region of NSW has developed a robust, scalable lithium-ion battery system to replace diesel engines used in large industrial vehicles in the mining and defense industries. 3ME Technology's revolutionary BLADEVOLT battery system has been successfully installed in underground mining equipment.