Epiroc AB was established as an independent public company in 2018 following its spin-off from Atlas Copco, listing on Nasdaq Stockholm under the tickers EPI A and EPI B. Headquartered in Orebro, Sweden, Epiroc operates across more than 150 countries through a network of manufacturing facilities, service centers, and regional offices. The company's global footprint is directly oriented toward the mining, infrastructure, and construction sectors, where it supplies heavy drilling rigs, rock excavation equipment, and specialized utility vehicles designed for demanding underground and surface environments. This structure positions Epiroc as a dedicated heavy equipment manufacturer rather than a diversified industrial conglomerate, giving it focused exposure to the high equipment and utility vehicles segment.
Epiroc's core portfolio within the heavy Equipment and Utility Vehicles Market encompasses surface and underground drilling rigs, rock reinforcement and rock support equipment, tunneling jumbos, longhole drill rigs, and a range of battery-electric and diesel-powered utility vehicles for underground mining operations. The company's Minetruck, Scooptram, and Boomer product lines are widely deployed in hard-rock mining environments globally. Epiroc competes directly with Sandvik Mining and Rock Solutions, Komatsu Mining, and Caterpillar in this segment, differentiating through its emphasis on automation, battery-electric drivetrains, and integrated fleet management systems. Its aftermarket service and parts business — which generates a substantial share of group revenues — reinforces customer retention and provides recurring revenue streams tied to the installed base of heavy equipment.
Epiroc has pursued a disciplined acquisition strategy to expand its technology capabilities and geographic reach within the heavy Equipment and Utility Vehicles Market. Key acquisitions include the purchase of Mining Software provider RPMGlobal's automation assets, Mobilaris (underground positioning and situational awareness), and ASI Mining (autonomous haulage systems), all of which extend the intelligence layer of its physical equipment offerings. The company has also invested in battery-electric vehicle technology through its partnership with Northvolt and internal development programs, targeting a full battery-electric product range for underground mining vehicles. In 2023 and 2024, Epiroc continued to expand its service network in Africa, Latin America, and Asia-Pacific to capture aftermarket revenue growth in regions with accelerating mining capital expenditure.
Epiroc reported full-year 2024 revenues of approximately SEK 63.0 billion (roughly USD 5.8 billion), with the Tools & Attachments and Equipment & Service divisions both contributing to growth driven by sustained demand from copper, gold, and lithium mining customers. Major customer segments include large diversified miners such as BHP, Rio Tinto, Glencore, Freeport-McMoRan, and Newmont, as well as national mining companies across Africa and Latin America. The company held a leading market position in underground hard-rock drilling and loading equipment, with its battery-electric Scooptram and Minetruck models gaining traction as miners accelerate decarbonization of underground fleets.
