At Volvo CE India, we are deeply committed to sustainability and environment compliance through various initiatives.

Dimitrov Krishnan
Managing Director, Volvo Construction Equipment - India Business & Chairperson, Infrastructure Equipment Sector Council (IESC)

How do you see the mining industry evolving in the next 5 years?

The mining industry is undergoing a significant shift, driven by technology, sustainability, and evolving global demand. The adoption of automation technologies and digital tools will enhance operational efficiency and safety. Companies will increasingly utilize remote-controlled equipment, drones for surveying, and data analytics to optimize mining processes and reduce costs. Sustainability will also take center stage, with stricter environmental regulations pushing the industry toward low-emission and electric equipment. Additionally, the demand for minerals like lithium, cobalt, and iron ore is increasing as industries worldwide transition to greener energy. At Volvo CE, we are leading this transformation with fuel-efficient and electric machines, along with smart solutions that optimize operations.

What key trends are shaping the demand for mining equipment?

Several key trends are shaping up the demand for mining equipment in the market with sustainability and efficiency being the key demands. Firstly, There has been a surge in the demand for electric and hybrid mining equipment given the fact that governments and businesses are prioritizing low carbon emissions mining operations. Regulations such as the CEV Stage V norms are driving this change, prompting manufacturers to introduce electric machines.

Secondly, the industry is also moving towards automation and digitization, with AI-powered fleet management, IoT-enabled predictive maintenance, and autonomous haulage systems improving both productivity and worker safety. 

Third, the demand for critical minerals such as lithium and rare earth elements continues to rise, fueling investment in high-efficiency mining solutions.

What are the primary challenges facing the mining equipment industry today?

The mining industry is currently navigating multiple challenges, from environmental regulations to supply chain disruptions. Stricter emissions norms, such as the upcoming CEV-5 regulations in India, are requiring companies to upgrade their fleets with cleaner technology. Supply chain bottlenecks have also impacted component availability, causing delays in equipment production. Additionally, the skills gap in operating and maintaining advanced machinery remains a major concern. Volvo CE is addressing these challenges by localizing production, expanding operator training programs, and investing in alternative fuel technologies to meet evolving regulatory and operational demands.

How is your company addressing sustainability and environmental compliance in equipment design and operations?

At Volvo CE India, we are deeply committed to sustainability and environment compliance through various initiatives. We were the first in the country to introduce electric construction equipment in 2023, aligning with the country’s goal to achieve net zero carbon target by 2070. Additionally, our Stage V emission-compliant engines significantly reduce particulate matter and emissions, ensuring compliance with stricter regulations. Our electric loaders are also successfully designed to reduce carbon emissions by approximately 3,11,040 kg per year per loader, thus significantly contributing to air pollution reduction.

Beyond equipment design, Volvo CE also integrates sustainable manufacturing practices, including using renewable energy at our facilities, leading to a 30% reduction in energy consumption over the past five years. Our goal is to ensure that by 2030, 35% of our total sales come from electric equipment, driving the transition toward sustainable and low-emission construction solutions.

Which segments of the mining industry (e.g., coal, iron ore, aggregates, etc.) offer the most growth potential?

The demand for critical minerals, including lithium, cobalt, and rare earth elements, is rising due to the global shift toward renewable energy and electric mobility. Iron ore and aggregates remain essential for large-scale infrastructure projects, particularly in high-growth regions like India and Brazil. While coal mining faces increasing environmental scrutiny, it still plays a key role in energy production for select markets. Volvo CE’s diverse product lineup, including fuel-efficient articulated haulers, wheel loaders, and excavators, is well-positioned to support these evolving market needs.

How does your company plan to tap into emerging markets or new applications in the mining sector?

Our strategy for emerging markets is twofold: localized manufacturing and innovative business models. Our Peenya facility in Bengaluru plays a crucial role in producing high-quality compactors, wheel loaders, and excavators tailored for India and export markets. Additionally, our Equipment-as-a-Service (EaaS) model is making cutting-edge technology accessible to more operators, eliminating high upfront costs and ensuring operational flexibility. By combining local production, digital solutions, and financial innovation, we are ensuring sustainable growth in new markets.

What are the key expectations of mining companies when choosing equipment? How does your company ensure reliability, safety, and cost-efficiency in your products?

Mining companies expect equipment that is durable, fuel-efficient, and easy to maintain. Volvo CE meets these expectations with heavy-duty machines like the A60H articulated hauler, which excels in tough mining conditions. Our CareTrack telematics system ensures maximum uptime by enabling predictive maintenance and real-time performance tracking. Safety is a top priority, with features like automated braking, operator assistance systems, and enhanced visibility technology built into our machines. By focusing on efficiency, reliability, and safety, we empower our customers to achieve higher productivity at lower costs.

What major developments or product launches can we expect from your company in 2025?

Volvo CE is set to launch a new lineup of Stage V-compliant excavators, wheel loaders, and haulers, designed to meet the industry’s evolving emission standards while improving performance. We will also be expanding our electric and hybrid range, introducing battery-powered compaction equipment and grid-connected large excavators. On the digital front, major enhancements to CareTrack and autonomous fleet management solutions will provide even greater operational efficiency. These advancements align with our vision of building a smarter, more sustainable future for the mining and construction sectors.