Westford,USA, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The global Mining Automation market size is expected to reach USD 8.64 billion by 2030 and exhibit a CAGR of 7.3% in the forecast period (2023−2030), according to Skyquest's latest research report. The increased safety requirements, labor shortage, cost optimization, mineral exploration demand, environmental regulations, advanced sensor technologies, autonomous equipment adoption, data analytics and AI utilization, remote monitoring, and the need for operational efficiency in mining operations is fueling the market's growth.
According to SkyQuest's latest global research of the Mining Automation market, adoption of autonomous haulage systems, integration of 5G technology, electrification of mining equipment, remote-controlled drilling and blasting, digital twins for mine planning, blockchain applications in supply chain management, sustainable and eco-friendly mining practices, utilization of drones for surveying and monitoring, and increased focus on worker safety through wearable technology, are the trends that aid in the market's growth.
Browse in-depth TOC on "Mining Automation Market"
- Pages - 157
- Tables - 64
- Figures -75
Mining automation is the use of technology to automate tasks in the mining industry. This can include tasks such as drilling, blasting, loading, hauling, and crushing. Mining automation can help to improve safety, efficiency, and productivity in the mining industry.
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Prominent Players in Mining Automation Market
- Caterpillar
- Komatsu
- Hexagon AB
- Sandvik AB
- Epiroc AB
- Atlas Copco
- Hitachi Construction Machinery
- Siemens
- Trimble
- Rockwell Automation
- RPMGlobal
- Mine Site Technologies
- Autonomous Solutions
- RCT
- Joy Global
- P&H Mining Equipment
- Liebherr
- Weir Group
- Metso Outotec
- FLSmidth
- ABB
- Schneider Electric
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Market Size in 2022 | 4.57 Billion |
| 2030 Value Projection | 8.64 Billion |
| CAGR | 7.3% |
| Segments Covered |
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| Regions Covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Fully Autonomous Equipment Automation Demand to Grow Substantially in the Forecast Period
Fully autonomous equipment automation dominates the global online market as it minimizes the need for human presence in hazardous mining environments, improving worker safety. It also operates continuously without fatigue, increasing operational efficiency.
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Metal Mining is the Leading Application Segment
In terms of application, Metal Mining is the leading segment as it includes the extraction of base metals, precious metals, and other alloys, is a substantial and growing industry. The demand for metals is driven by various sectors, including construction, automotive, electronics, and infrastructure development.
North America is the leading Market Due to the Technological Advancements
sia-Pacific is home to several resource-rich countries, including Australia, China, and Indonesia, which are major players in the global mining industry. Abundant mineral reserves drive the demand for advanced automation solutions. The region is experiencing rapid industrialization and urbanization, leading to increased demand for minerals, metals, and construction materials. This drives the need for efficient and automated mining operations.
A recent report thoroughly analyzes the major players operating within the Mining Automation market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Mining Automation.
Key Developments in Mining Automation Market
- In March 2023, Sandvik Ab announced that it had secured a US$ 62.36 Mn mining equipment order from the Canadian mining business Torex Gold Resources. This is the company's third-largest BEV order to date.
- In September 2022, The 789 mining truck was developed by Caterpillar to offer increased connection, cab comfort, and efficiency. The new model allows for the movement of greater material while using up to 9% less fuel.
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Key Questions Answered in Mining Automation Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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