Global Mining Automation Market Overview:
Mining automation refers to the elimination of human effort from the mining process. Technological development regarding automated mining techniques such as robotics mining & analytics, drone automated system, and others expected to drive the mining automation market. Market leaders are focusing on adopting drone technology in mining for rapid data collection and improving accuracy for designing mining process in order to increase operational productivity.
As per latest study released by AMA Research, the Global Mining Automation market is expected to see growth rate of 7.91%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Emphasizing On Automated Drone Systems in Mining Operations and Increasing Adoption of Automated Techniques Such As Robotic Mining
Market Growth Drivers:
Government Initiatives for Mining Automation Activities and Technological Developments towards Human-Machine Interactions
Challenges:
Mitigation of Adverse Effect on Environment Caused By Mining Operations
Restraints:
High Cost Associated With Mining Automation and Lack of Skilled Labor to Adopt New Technology
Opportunities:
Development of Smart Connected Mines and Increasing Demand for Geographic Information Systems (GIS) In Mining Automation
Competitive Landscape:
Mining Automation market is fragmented owing to the number of players present in the market. Some of the major companies in the market are Atlas Copco, Caterpillar, Hexagon, Komatsu, and Sandvik. Market leaders are focusing on technological development such as automated mining tools, in-situ resource utilization, robotic and automated factories for mining operations aimed to improve their operational capability in mining automation market.
Some of the key players profiled in the report are Atlas Copco (Sweden), Caterpillar (US), Hexagon (Sweden), Komatsu (Japan), Sandvik (Sweden), Hitachi Ltd. (Japan), RPM Global USA Inc. (United States), Trimble Inc. (United States), Autonomous Solutions Inc. (United States), Fluidmesh Networks Inc. (United States), MST Global Holdings Pty Ltd (Australia) and Symboticware (Canada). Additionally, following companies can also be profiled that are part of our coverage like Volvo Group (Sweden), Micromine Pty Ltd (Australia) and Remote Control Technologies Pty Ltd (Australia). Analyst at AMA Research see United States Vendors to retain maximum share of Global Mining Automation market by 2030. Considering Market by Workflow , the sub-segment i.e. Mine Development (Tunnel Boring, Construction of Access Roads, Site Preparation and Clearing) will boost the Mining Automation market. Considering Market by Communications System, the sub-segment i.e. Wireless Mesh Networks will boost the Mining Automation market. Considering Market by Equipment, the sub-segment i.e. Autonomous Hauling/Mining Truck will boost the Mining Automation market. Considering Market by Software, the sub-segment i.e. Workforce Management will boost the Mining Automation market.
Latest Market Insights:
In July 2023,Hexagon AB, the global leader in digital reality solutions, combining sensor, software and autonomous technologies, today announced the acquisition of HARD-LINE, a fast-growing, global leader in mine automation, remote-control technology and mine production optimisation.
In December 2018, “Caterpillar Canada’s largest diversified mining company installed RCT’s clever remote technology on its Caterpillar machines working at a steel-making coal operation in the Elk Valley region of British Columbia with an aim to take humans out of particularly hazardous environments in the mining process.”
What Can be Explored with the Mining Automation Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Mining Automation Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Mining Automation
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Mining Automation market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Mining Automation market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Mining Equipment Manufacturers, Mining Companies, Government Bodies, Venture Capitalists, and Private Equity Firms, Research Institutes and Organizations, System Integrators, Original Equipment Manufacturers, Wireless Communication Providers, Safety Equipment Vendors and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.