7.4.8.4Vertical

Mining Equipment Manufacturers

OEMs producing drills, loaders, haul trucks, and mining equipment.

Market snapshot

These figures describe Mining Equipment & Services (7.4.8), the segment that Mining Equipment Manufacturers sits within. They are not figures for Mining Equipment Manufacturers on its own.

Market size
~$3.5B
Growth
~2.6%CAGR (2017–22, nominal)
Companies
~528 firms
Firms by employee count

74.1% of firms have fewer than 20 employees: 391 micro-businesses, below most mandates.

The investable universe137 firms with 20+ employees
20–99
9267%
100–499
2720%
500+
1813%

The slowest growth here, and it lags the mines it serves by a cycle, because contract mining and support work is committed when producers are confident, not when prices first move. Small and regional, which makes it the only genuinely fragmented part of mining.

NAICS 213113, 213114, 213115. U.S. Census Bureau, 2022 Statistics of U.S. Businesses; U.S. Census Bureau, 2022 Economic Census.

Business model & economics

Revenue model

Contract mining services and mine development

Key economics

Revenue per firm
$6,587,326
Revenue per employee
$271,430
Employees per firm
21.7
Recurring revenue
Moderate

recurring contract-service relationships

EBITDA margin
Service- and utilization-driven
Capex intensity
Moderate

Characteristics

  • Balanced cost base: payroll is 27% of revenue, leaving room to scale margin without cutting staff
  • Thin strategic-buyer pool: only 18 firms exceed 500 employees, so exits skew sponsor-to-sponsor
  • Drilling, blasting, and mine-development services.
  • Tracks mining activity and commodity cycles.
  • Critical-minerals build-out a growth driver.

NAICS 213113, 213114, 213115. U.S. Census Bureau, 2022 Statistics of U.S. Businesses; U.S. Census Bureau, 2022 Economic Census.

Geographic concentration

AlabamaAlaskaArizonaColoradoFloridaGeorgiaIndianaKansasMaineMassachusettsMinnesotaNew JerseyNorth CarolinaNorth DakotaOklahomaSouth DakotaTexasWyomingConnecticutMissouriWest VirginiaIllinoisNew MexicoArkansasCaliforniaDelawareDistrict of ColumbiaHawaiiIowaKentuckyMarylandMichiganMississippiMontanaNew HampshireNew YorkOhioOregonTennesseeUtahVirginiaWashingtonWisconsinNebraskaSouth CarolinaIdahoNevadaVermontLouisianaRhode IslandPennsylvania

Pennsylvania is the only state clearing the threshold, reflecting the contract mining and support base built around Appalachian coal that now serves aggregates and industrial minerals as well.

Pennsylvania

U.S. Census Bureau, 2022 Statistics of U.S. Businesses (firms by state), NAICS 213113/213114/213115. Concentration shown by location quotient.

M&A deal context

Deal activityModerate

Who’s acquiring

  • Mining-services platforms
  • PE-backed consolidators
  • Mining strategics

What’s driving deals

  • Consolidation of mining-services contractors.
  • Critical-minerals and mine-development demand.
  • Automation and efficiency services.

Find Mining Equipment Manufacturers acquisition targets

Search Acquisera’s index for companies classified under Mining Equipment Manufacturers (7.4.8.4) and build a targeted deal pipeline.

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