About Mining Automation
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.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 7.91% |
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. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Mining Automation market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
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) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Volvo Group (Sweden), Micromine Pty Ltd (Australia) and Remote Control Technologies Pty Ltd (Australia).
Segmentation Overview
AMA Research has segmented the market of Global Mining Automation market by Type (Equipment, Software, Communications System and Others), Application (Metal Mining, Mineral Mining, Coal Mining and Others) and Region.
On the basis of geography, the market of Mining Automation has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see 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. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Communications System, the sub-segment i.e. Wireless Mesh Networks will boost the Mining Automation market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Equipment, the sub-segment i.e. Autonomous Hauling/Mining Truck will boost the Mining Automation market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Software, the sub-segment i.e. Workforce Management will boost the Mining Automation market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
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
Market Leaders and their expansionary development strategies
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.”
Key Target Audience
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
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.