Who Are the Core Customers of Epiroc Company?

Primary Epiroc core customers are underground and surface mining companies focused on copper, gold, iron ore and battery minerals like lithium and nickel; these multinational miners accounted for roughly 65% of Epiroc's mining-related revenue in 2025 as they invest in electrified fleets and automation.

Secondary Epiroc customers include large infrastructure contractors and equipment rental companies that buy drilling rigs, hydraulic tools and bolting systems for tunneling and urban projects; rental and contractor sales contributed an estimated 20% of 2025 equipment volume.

Epiroc mainly serves businesses and institutions-mining corporations, contractors, and equipment-service fleets-rather than retail consumers. Procurement managers and fleet operators increasingly evaluate Epiroc on software compatibility, fleet automation and total cost of ownership (TCO).

The most commercially important segment is large multinational miners committing to net-zero by 2040-2050; sales of electrified and automated solutions grew over 30% year-over-year in 2025, making digital mine managers key buyer personas for 2026 procurement cycles. Read more in the Product Model of Epiroc Company Product Model of Epiroc Company

Australia and North America account for roughly 45-50% of Epiroc revenue in 2025, led by iron ore and gold majors and extensive underground fleets; procurement managers and international mining corporations drive heavy equipment and service demand.

The Copper Belt (Zambia, DRC) and lithium basins in South America show rising demand for Epiroc customers in underground mining operations and exploration companies, as complex deposits need specialized drilling and tunnelling equipment.

Mining contributes about 75% of revenue in 2025 while service, consumables, and spare parts now represent over 65% of total revenue, making the digital and aftermarket channel the most resilient location of demand for Epiroc core customers and equipment rental companies and Epiroc partners.

Growth is fastest in critical-minerals mining (copper, lithium) and in infrastructure projects across Europe and the US-fueled by measures like the Infrastructure Investment and Jobs Act-boosting orders from construction contractors using Epiroc equipment and infrastructure companies that buy Epiroc machinery. See the Brand Story of Epiroc Company for more context: Brand Story of Epiroc Company

By acquiring mine-planning software and collision-avoidance firms in 2024 and 2025, Epiroc moved from hardware to a platform model that sells to mining companies that buy Epiroc and mines operating mixed fleets. The agnostic digital approach lets Epiroc capture software revenue from competitors' customers and new buyers such as equipment rental companies and construction contractors using Epiroc equipment.

Epiroc retains mechanical credibility by outsourcing non-core manufacturing while keeping R&D and high-value assembly in-house, sustaining product quality for Epiroc customers in underground mining operations and surface mining companies that purchase Epiroc equipment. Operating discipline preserved gross and operating margins, with operating margin staying above 20% during the software transition.

Recurring software licenses, telematics, and service contracts increased stickiness for procurement managers sourcing Epiroc parts and services and OEM parts buyers for Epiroc machines. In 2025 the installed base drove higher aftermarket revenue, with service and aftermarket customers of Epiroc generating a rising share of total revenue.

Most growth came from software and electrification attach rates to core rigs - each digital or electric offering launched in 2026 was tied to productivity gains on drilling and loading equipment. This increased annual recurring revenue and expanded Epiroc target market to include exploration companies partnering with Epiroc for drilling and infrastructure companies that buy Epiroc machinery; the shift helped maintain operating margins above 20%.