Global Underground Mining Automation Market Overview:
Underground mining refers to the extraction of minerals and ores that are present far below from earth’s surface. Due to need for enhanced safety of workers in underground mine especially in hazardous environment and extracting minerals from difficult locations led miners to adopt the automation technologies for different applications such as loading, hauling, blasting, mine mapping and others. However, the mining industry is growing rapidly due to increased demand for different minerals and metals. Further, shift towards the autonomous vehicles or equipment such as haul trucks and drilling rigs is likely to fuel the growth.
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:
Rising Popularity of Advanced Technologies Such as IoT, AI, Etc. and Growing Adoption of Cobots and Deployment of Fully Autonomous Mining Equipment
Market Growth Drivers:
Need for Enhanced Safety, Reduce Accidents and Injuries Associated With Manual Mining Operations and Labour Shortage in Mining Industry and Increased Demand for Cost Reduction
Challenges:
Lack of Skilled Workforce and Cybersecurity Threats May Create Challenges for the Market
Restraints:
Lack of Acceptance of Technologies in Some Developing Countries
Opportunities:
Implementation of Stringent Regulations by Government for Workers Safety is Expected to Created Significant Opportunities
Competitive Landscape:
The key players are targeting the innovations of the Solutions with better quality, better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking upon mergers and acquisitions in order to maintain their presence in the market.
Some of the key players profiled in the report are ABB (Switzerland), Orica Limited (Australia), Sandvik AB (Sweden), Rockwell Automation, Inc. (United States), Komatsu (Japan), Caterpillar (United States), Hexagon AB (Sweden), Hitachi, Ltd. (Japan), RPMGlobal Holdings (Australia), RCT (Australia) and Siemens AG (Germany). Considering Market by Mine Type, the sub-segment i.e. Coal will boost the Underground Mining Automation market. Considering Market by Offering, the sub-segment i.e. Hardware will boost the Underground Mining Automation market.
What Can be Explored with the Underground Mining Automation Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Underground Mining Automation Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Underground 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 Underground 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 Underground 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 New Entrants/Investors, Analysts and Strategic Business Planners, Underground Mining Automation Solution Providers, Mining Companies, Government Regulatory, Research Organizations 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.