Mining Automation Market size was US$ 3.26 Bn in 2022 and is expected to reach US$ 5.19 Bn by 2029, at a CAGR of 6.85% during forecast period.
Mining Automation Market Report Scope and Research Methodology
The qualitative and quantitative data collected by primary research resources, free and paid databases, surveys, Google forms, etc. is further analysed by tools such as SWOT and PESTLE analysis to understand the Mining Automation market.
Mining Automation Market Overview
The report insights about top players, market size, share, key drivers, challenges, opportunities, competitive landscape, market attractiveness analysis, new product launches, technological innovations, and growth contributors which helps to analyse the Mining Automation Market.
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Mining Automation Market Regional Insights
A regional analysis typically includes a precise examination of market trends, competitive landscape, consumer behaviour, and regulatory environment in each region.
Mining Automation Market Segmentation
By technique, underground mining had the leading position in 2022 and is anticipated to keep it over the projected period at a CAGR of xx%. The increase in underground mining automation processes used for mineral exploration and collection beneath the earth's crust is credited with the expansion. Due to the high level of risk associated with working in deep mines, demand for highly advanced automated mining equipment has surged, which has helped the market expand. Additionally, mining firms like Rio Tinto are consistently attempting to develop improved tunneling equipment and autonomous vehicles for use in underground mining, which is further fueling the expansion of the mining automation market.
The mining process category dominated the market in 2022 and is anticipated to develop quickly at a CAGR of% over the course of the forecast period. Haulage and drilling are two autonomous mining processes. The autonomous haulage mining process accounted for the highest market share in 2022 and is expanding at the fastest rate with a CAGR of%. A complete fleet management system for mines, the autonomous haulage system. The need for autonomous haulage systems has grown as a result of its critical role in effective mining management, rising productivity, creating safer working conditions, and lowering operating costs, all of which contribute to market expansion.
Global Mining Automation Market Analysis and Forecast, By Technique
1. Introduction and Definition
2. Key Findings
3. Mining Automation Market Value Share Analysis, By Technique
4. Mining Automation Market Size (US$ Bn) Forecast, By Technique
5. Mining Automation Market Analysis, By Technique
6. Mining Automation Market Attractiveness Analysis, By Technique
Global Mining Automation Market Analysis and Forecast, By Automation Type
1. Introduction and Definition
2. Key Findings
3. Mining Automation Market Value Share Analysis, By Automation Type
4. Mining Automation Market Size (US$ Bn) Forecast, By Automation Type
5. Mining Automation Market Analysis, By Automation Type
6. Mining Automation Market Attractiveness Analysis, By Automation Type
Global Mining Automation Market Analysis and Forecast, By Workflow
1. Introduction and Definition
2. Key Findings
3. Mining Automation Market Value Share Analysis, By Workflow
4. Mining Automation Market Size (US$ Bn) Forecast, By Workflow
5. Mining Automation Market Analysis, By Workflow
6. Mining Automation Market Attractiveness Analysis, By Workflow
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Mining Automation Market Key Players
1. Atlas Copco
2. Rio Tinto Group
3. Caterpillar
4. Hexagon
5. Komatsu
6. Sandvik
7. Autonomous Solutions Inc
8. Hitachi
9. RPMGlobal
10.Trimble
11.Fluidmesh Metworks
12.Mine Site Technologies
13.Symboticware
14.Rockwell Automation, Inc.
15.Komatsu
16.MST Global
17.ABB Limited
18.Emerson Electric Co
19.Mitsubishi Electric Corporation
20.Schneider Electric SE
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Key questions answered in Mining Automation Market are:
- What is the Mining Automation market size of the dominating region?
- What was the Mining Automation market size in 2022?
- What is the expected Mining Automation market size by 2029?
- What is the growth rate of the Mining Automation Market?
- Which are the factors expected to drive the Mining Automation market growth?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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The mining operations for a more significant part of the last hundred years have been labor intensive.
The abundance of ore deposits is expected to lead to further escalation in mining activities.
Thus, the use of mining automation is expected to become more common in the upcoming years boosting the mining automation market share.The market forces that are driving mining operators to employ existing and emerging technologies are identified as the winds of change in the global mining automation market.
Due to the extraordinarily harsh conditions, the global mining sector has lagged over other industries as far as the influence of technology and automation is involved.
The shift from diesel to electrification has brought about increased productivity and sustainable use of resources while reducing input costs.
An important example that comes to mind is that of the Syama mine in Mali which was initially acquired by BHP as an open cast gold mine in the 80s, but from the time it has been taken over by Resolute Mining in 2015, it has experienced some astounding modifications as it gets primed to become the primary purpose-built automated mine in the world.
Mining Automation Market report added by Value Market Research, offering growth, trends, and forecast for each segment along with regional and country analysis.
The study has done with respect to market share, size, outlook, estimation and forecast period 2021-2027.
Further, this report also highlights the regional and country-level market analysis.The mining automation market is vast, with many local and global players.
the key leaders follow different strategies to advance their market position, such as contracts, amalgamation, extending product portfolio, expansions, acquisitions, and product upgrades to raise their market share across the globe.
for instance, in June 2017, Komatsu America Corp., a Komatsu Ltd subsidiary, has introduced HD405-8 and HD325-8 off-highway trucks.
The new models contain payload capacities of 36.5 and 40 metric tons, correspondingly.
Mining Automation MarketThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Mining Automation Market.
The growth sectors of the Mining Automation Market are identified with precision for a better growth perspective.Mining companies across the world are rapidly adopting automation to modernize operations.
The global mining automation market has been segmented based on offerings, operations, and region.By offering, the market has been segmented into hardware (autonomous mining truck, autonomous drilling rig, mining load-haul-dump (LHD), pumping stations, tunneling equipment, others), software (fleet management, workforce management, remote operations and monitoring, temperature monitoring system, others), and communication system (navigation systems, wireless mesh networks, others).
Drilling in the mining sector is one major area where automation makes a positive impact.
An autonomous drill system (ADS) is most widely used for automated drilling, it enables an operator to control the drilling process using a single console from a remote location to control many autonomous drillings from multiple manufacturers simultaneously.
However, the software segment is expected to show the highest CAGR during the forecast period.By operation, the market has been segmented into mining process (autonomous haulage, autonomous drilling), maintenance (HVAC, mine dewatering), development (tunnel boring, access road construction, others).
According to the new market research report "Mining Automation Market by Technique, Type (Equipment, Software, Communications System), Equipment (Autonomous Hauling/Mining Trucks, Autonomous Drilling Rigs, Underground LHD Loaders, Tunneling Equipment) and Region - Global Forecast to 2023", The mining automation market is expected to grow from USD 2.22 Billion in 2017 to reach USD 3.29 Billion by 2023, at a CAGR of 6.77% between 2017 and 2023.
Key factors such as the increasing need for worker safety, improving productivity, and reducing overall operational costs are driving the mining automation market growth.
Browse 37 Market Data Tables and 45 Figures spread through 146 Pages and in-depth TOC on "Mining Automation Market - Global Forecast to 2023"Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=257609431 Early buyers will receive 10% customization on reports.The underground mining automation market to hold the largest share between 2017 and 2023An underground mining technique is used to extract the mineral and ore deposits, which are buried deep under the earth’s crust.
However, underground mining is considered more dangerous than that of surface mining due to the potential dangers such as adverse health effects, collapse, release of toxic gases, and lack of proper ventilation, which results in suffocation.
Some of the most common types of underground mining techniques include room and pillar mining, cut-and-fill stoping, longwall mining, shaft mining, and slope mining.
Moreover, the increasing digitization of mines and globalization of economies have attracted significant investments from the mining companies all over the world.The major players in the mining automation market are Atlas Copco (Sweden), Caterpillar (US), Hexagon (Sweden), Komatsu (Japan), and Sandvik (Sweden).
