MarketResearch.biz announces publication of its most recently generated research report titled, “Global Mining Automation Market by technique (Underground Mining Automation and Surface Mining Automation), by material type (Equipment (Autonomous Trucks, Remote Control Equipment, and Teleoperated Mining Equipment), Software, and Communication System), by application (Metal Mining, Mineral Mining, Coal Mining, and Other), and Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa). Global Forecast to 2027.”, which offers a holistic view of the mining automation market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2019–2023) is projected to be more than US$ 16 Bn, which is expected to increase rather moderately over the latter part of the five-year forecast period.
Global Mining Automation Market: Definition
Mining is extraction of valuable minerals or other geological materials from the earth usually from an orebody, lode, vein, seam, reef or placer deposit. Mining automation removes humans from hazardous mining process.
Browse the full “Mining Automation Market By Technique (Underground Mining Automation and Surface Mining Automation), By Material Type (Equipment, Software, and Others), By Application (Metal Mining, Mineral Mining, and Other), and Region – Global Forecast to 2027” report at https://marketresearch.biz/report/mining-automation-market/
Global Mining Automation Market: Market Dynamics
Increasing demand for advanced mining equipment for underground mining techniques to safeguard mining workers is a key factor expected to drive growth of the global mining automation market over the forecast period. In addition, rising adoption of automation in mining to eliminate human operative interference from dangerous environments and for real time atmospheric monitoring, and safety alerts, is anticipated to further fuel growth of the target market over the forecast period.
Working in underground mines is extremely hazardous due to lack of proper ventilation, exposure to toxic gases, and adverse health effects. For instance, all mines across the US are inspected every year by the US Department of Labor’s Mine Safety and Health Administration (MSHA) which helps to ensure healthy and safe working environment by reducing injuries, illnesses and rate of deaths, through conducting variety of activities and programs.
Furthermore, technological advancements in mining equipment’s and growing digitization across the globe are some other factors expected to further fuel growth of the target market over the forecasts period.
However, high installation cost and stringent government regulations regarding depletion of natural non-renewable resources are major factors expected to restrain growth of the global market to a certain extent.
Global Mining Automation Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global mining automation market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global mining automation market is expected to expand at a CAGR of 5.3% over the forecast period.
Global Mining Automation Market: Segmental Snapshot
The market report has been segmented on the basis of technique, material type, application, and region. The technique segment includes underground mining automation and surface mining automation. The material type segment includes equipment (autonomous trucks, remote control equipment, and teleoperated mining equipment), software, and communication system. the application segment includes metal mining, mineral mining, coal mining, and other. The regions covered in the analysis includes North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By Technique: The underground mining automation segment accounted for highest revenue share contribution as compared to other technique segment, and is expected to register a CAGR of over 5.7% over the forecast period in the global market.
By Material Type: The equipment segment accounted for highest revenue share contribution as compared to other material type segments, and is expected to register a CAGR of over 5.3% over the next 10 years.
By Application: The metal mining segment accounted for highest revenue share contribution as compared to other application segment, and is expected to register a CAGR of over 5.1% over the forecast period.
By Region: The market in Asia Pacific accounted for highest revenue share in the global mining automation market in 2018, and is expected to register a CAGR of over 5.6% in the global mining automation market.
Global Mining Automation Market: Competitive Analysis
The research report on the global mining automation market include profiles of some of major companies such as Autonomous Solutions, Inc., Caterpillar Inc., Trimble Inc., Sandvik AB, Atlas Copco AB, Hexagon AB (publ), Hitachi, Ltd., Komatsu Ltd., Mine Site Technologies Pty Limited, and RPMGlobal Holdings Limited.
The Global Mining Automation Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2019–2028 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global mining automation market for 2019–2028.
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