Top 4 Underground Equipment Suppliers in the World in 2021 by Share of Fleet

Sandvik AB, Epiroc AB, Caterpillar Inc, and Komatsu Ltd are the top 4 underground equipment suppliers in the world in 2021 by share of the fleet. Collectively, the top 4 underground equipment suppliers in the world had a share of the fleet of a total of 101%. Sandvik AB had the highest share of the fleet of 42%, followed by Epiroc AB (29%), and Caterpillar Inc (19%), while the companies Komatsu Ltd (11%) had the lowest share of the fleet. In terms of geographical split, 2 out of 4 of the world’s top underground equipment suppliers by share of the fleet are based in Europe, while the remaining companies are based in North America and Asia. The Sweden-based Sandvik AB is the leading underground equipment supplier in the world by share of the fleet. The company reported revenues of $9,991 million for the fiscal year ended December 2021 (FY2021), an increase of 14.7% over FY2020, due to high customer activity and strong broad-based demand, with record-high order intake levels in mining and construction. The company is a high-technology engineering company, which specializes in material technology and industrial processes. The company’s major offerings include metal cutting tools and tooling systems, mining and rock excavation equipment, stainless steel, special alloys and titanium, furnace products and heating systems, and digital manufacturing solutions. In 2021, the company employed 38,913 people. Epiroc AB is one of the leading underground equipment suppliers in the world by share of the fleet. The company reported revenues of $4,622 million for the fiscal year ended December 2021 (FY2021), an increase of 18% over FY2020, increase in the revenue is due to strong underlying demand as well as several large orders. The company is a manufacturer of equipment for mining and infrastructure industries. It offers drill rigs, rock excavation and construction equipment, and related parts and tools. The company’s products find applications in production and development work for both underground and open-pit mines. Its products also find applications in mineral exploration and blasthole drilling for infrastructure development works. In 2021, the company employed 15,548 people.