Global Mining Equipment Market is estimated to reach $167.7 Billion by 2024; growing at a CAGR of 6.9% from 2016 to 2024. Mining is the process of extracting minerals, metals and other substances from the earth. Products such as iron ore, gold, tin, copper, bauxite, manganese, silver, nickel, tantalum, cassiterite, and others are mined from the earth for several purposes. Extraction of these products is followed by processing and beneficiation in facilities located near the mine site. Some of the key mining equipment commonly used during the digging process includes dozers, drills, loaders, excavators, earthmovers, dump trucks, graders, and scrapers. Modern mining process is nearly completely mechanized and the operations involving a set of techniques may vary depending on the type of mine.