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
- find_in_page Our Research Methodology is based on the following main points:
- Data Collections and Interpretation
- Data Validation
- Final Projections and Conclusion
The global mining automation market is estimated to value at nearly US$ 2.9 Bn in 2019, and is expected to register a CAGR over 5.3%. The global mining automation market report has been segmented on the basis of technique, component, application, and region.
Global Mining Automation Market: Introduction
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.
Global Mining Automation Market: Dynamics
Increasing demand for advanced mining equipment for underground mining techniques to safeguard mining workers is a major 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 another factor expected to further fuel growth of the target market over the forecast period.
Furthermore, increasing technological advancements and rising investment by major manufacturers for the development of automated vehicle for mining industry and digitization of mining processes are some other factors expected to boost growth of the global market over the forecast period.
However, high installation cost and stringent government regulations related to depletion of natural non-renewable resources are major factors expected to restrain the growth of the global market to a certain extent
Global Mining Automation Market Analysis by Technique:
Among the product type segments, the market is segmented into underground mining automation and surface mining. Currently, the underground mining automation segment dominates the global market in terms of revenue and is expected to maintain its dominance over the forecast period.
Global Mining Automation Market Analysis by Component:
Among the component segments, the global market is segmented into equipment, software, and communication system. The equipment segment accounts for maximum share and is expected to continue to grow at the significant rate over the forecast period, owing to increasing demand for mining automation in various applications such as metal mining, mineral mining, and coal mining due to increasing mining activities across the globe.
Global Mining Automation Market Analysis by Application:
Among the application segments, the global market is segmented into metal mining, mineral mining, coal mining, and others. The metal mining segment accounts for maximum share and is expected to continue to grow at the lucrative rate over the forecast period.
Market Analysis by Region:
Among the region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The market in Asia Pacific is expected to dominate the global mining automation market and is expected to continue its dominance over the forecast period, owing to presence of major players such as Tata Steel, Rio Tinto Group, and Komatsu Ltd. in countries in the region. The rising adoption of drone technology, as these systems enables quick data collection by enhancing accuracy in designing mine plans and making necessary changes, thereby boosting operational productivity.
The market in North America is expected to register significant share in terms of revenue in the global mining automation market in 2018. Increasing adoption from mining companies for latest automation technology to modernize their operations is a major factor expected to drive growth of the target market in various countries in the region.
The market in Europe is expected to account for moderate share in terms of revenue over the forecast period, owing to increasing need for optimizing production costs, reducing human intervention, and changing mining landscape across various countries in the region over the forecast period.
The market in Latin America and Middle East & Africa is expected to register moderate growth rate over the forecast period, owing to growing industrialization across developing countries such as Brazil and Argentine and increasing government investment for development of new products.
In addition, increasing expansion activities through various collaboration, merger and acquisition activities is expected to create new opportunities for players operating the target market in this region over the forecast period.
For instance, in December 2017, Autonomous Solutions, Inc. – ASI Mining entered into the collaboration with Enaex, which is a subsidiary of the Sigdo Koppers Group in order to develop semi-autonomous blasting functionality with ASI’s autonomous command and control software – MOBIUS
Global Mining Automation Market Segmentation:
Segmentation by Technique:
- Underground Mining Automation
- Surface Mining Automation
Segmentation by Component:
- Autonomous Trucks
- Remote Control Equipment
- Teleoperated Mining Equipment
- Communication System
Segmentation by Application:
- Metal Mining
- Mineral Mining
- Coal Mining
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Autonomous Solutions, Inc.
- Caterpillar Inc.
- Trimble Inc.
- Sandvik AB
- Atlas Copco AB
- Hexagon AB (publ)
- Hitachi, Ltd.
- Komatsu Ltd.
- Mine Site Technologies Pty Limited
- RPMGlobal Holdings Limited
- 1.0 Chapter 1
- 1.1 Preface
- 1.2 Assumptions
- 1.3 Abbreviations
- 2.0 Chapter 2
- 2.1 Report Description
- 2.1.1 Market Definition and Scope
- 2.2 Executive Summary
- 2.2.1 Market Snapshot, By Technique
- 2.2.2 Market Snapshot, By Material Type
- 2.2.3 Market Snapshot, By Application
- 2.2.4 Market Snapshot, By Region
- 2.2.5 Opportunity Map Analysis
- 2.1 Report Description
- 3.0 Chapter 3
- 1.0 Chapter 1
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