5.6.11.3Vertical

Haul Trucks & Mining Loaders

OEMs producing large-format mining haul trucks and front-end loaders.

Market snapshot

These figures describe Mining Equipment (5.6.11), the segment that Haul Trucks & Mining Loaders sits within. They are not figures for Haul Trucks & Mining Loaders on its own.

Market size
~$4.4B
Growth
~-1.1%CAGR (2017–22, nominal)
Companies
~235 firms
Firms by employee count

51.1% of firms have fewer than 20 employees: 120 micro-businesses, below most mandates.

The investable universe115 firms with 20+ employees
20–99
7162%
100–499
2320%
500+
2118%

One of only three segments that shrank. Mining capital spending stayed disciplined through a commodity upcycle as operators returned cash rather than expanding capacity. Small, concentrated, and highly levered to a handful of customers. The risk is customer concentration, not the market.

NAICS 333131. U.S. Census Bureau, 2022 Statistics of U.S. Businesses; U.S. Census Bureau, 2022 Economic Census.

Business model & economics

Revenue model

Mining-equipment sales plus aftermarket and service

Key economics

Revenue per firm
$18,659,600
Revenue per employee
$393,309
Employees per firm
43.0
Recurring revenue
Moderate–High

recurring parts and service

EBITDA margin
Highly cyclical; strong aftermarket
Capex intensity
High

Characteristics

  • Scale-driven: payroll is only 18% of revenue, so the cost base is assets, not headcount
  • Thin strategic-buyer pool: only 21 firms exceed 500 employees, so exits skew sponsor-to-sponsor
  • Concentrated around global mining-equipment majors.
  • Highly cyclical with commodity prices and mining capex.
  • Autonomous and electric mining equipment the frontier.

NAICS 333131. U.S. Census Bureau, 2022 Statistics of U.S. Businesses; U.S. Census Bureau, 2022 Economic Census.

M&A deal context

Deal activityModerate

Who’s acquiring

  • Global mining-equipment majors
  • Automation & electrification acquirers
  • PE-backed component platforms

What’s driving deals

  • Critical-minerals and electrification demand.
  • Autonomous and electric mining technology.
  • Aftermarket and component M&A.

Find Haul Trucks & Mining Loaders acquisition targets

Search Acquisera’s index for companies classified under Haul Trucks & Mining Loaders (5.6.11.3) and build a targeted deal pipeline.

Search companies