The global Mining Automation Market size is expected to reach USD 8.64 billion by 2030, registering a CAGR of 7.3% from 2023 to 2030, according to a new report by Grand View Research, Inc. The increasing demand for accuracy and productivity required during mining activities is the high-impact rendering driver for the industry. The growing adoption of automated mining is attributed to the advantages associated with automated systems. For instance, in January 2022, Hexagon AB, one of the eminent players in digital reality solutions combining sensors, independent technology, and software programs, acquired Minnovare, one of the prominent players in drilling technology that enhances the cost, speed, and accuracy of drilling underground.
The initiative aims to strengthen and accelerate Hexagon AB’s underground roadmap and strengthen the drill and blast portfolio. The industry witnesses the adoption of drones as a step towards the evolution of unmanned and aerial data collection technology at mining sites. The automated drone system is poised to become an essential strategic part of the future of mining. For instance, in June 2020, Caterpillar Inc. acquired Marble Robots Inc. The initiative was aimed at expanding Robotization and autonomy strategy and demonstrating its commitment to the coming generation of job site results. Structure on its leadership in independent mining, the organization aims to work and bring scalable results to fulfill the changing needs of construction, chase, artificial, and waste diligence.
Furthermore, the upcoming concept in mining operations is the use of central or virtual control room that monitors several mines in distant sites from a single location. The virtual control room is expected to facilitate benchmarking and comparison of identical processes at different plants. For instance, in January 2022, Accenture, a services-based company that provides a wide range of services in interactive, strategy, and consulting technology and operations, collaborated with Celonis. This data processing company sells Software as a Service (SaaS) to enhance business processes, and it has formed a partnership to work in process mining.
They both have to create an alliance to help the organization gain some insights through which they update and optimize their business process. Accenture has set Celonis’ data-driven operation and capabilities into its tools and platforms to give new situations and insights to informed decision-making. In addition, the implementation of Geographic Information Systems (GIS) in mineral exploration activities has supplemented the industry growth. GIS enables mining professionals to perform in-depth analysis and get insights into mineral mining, evaluate mining conditions, and display geochemical or hydrological data. The transition from conventional mining techniques to automation has negatively impacted the market.
The incorporation of drones, autonomous machinery, and sensors has substantially affected local employment at the mine sites. However, skilled workers that specialize in handling remotely automated and controlled systems are expected to be in demand. For instance, in September 2021, ABB launched eMine, a fast and powerful truck charging that helps and diverts toward a zero-carbon mine, making an all-electric mine possible with electrification and a digital system. They also unveiled the piloting of the groundbreaking capability and gave FastCharge, one of the most crucial charging systems designed to affiliate with all makes of electric mining.
List of Key Players in the Mining Automation Market
- Atlas Copco AB
- Autonomous Solution Inc.
- Caterpillar
- Epiroc AB
- Hexagon AB
- Hitachi, Ltd.
- Komatsu Ltd.
- Liebherr Group
- MST (Mine Site Technologies)
- Rio Tinto
- Rockwell Automation, Inc.
- RPM Global Holdings Ltd.
- Sandvik AB
- Siemens
- Trimble Inc.
Related Press Release@ Mining Automation Market Report
Mining Automation Market Report Highlights
- The mineral mining application segment will register the fastest CAGR over the forecast period
- Increased mineral exploration activities globally are expected to boost the segment's growth
- The implementation & maintenance services segment held a significant market share in 2022
- In terms of equipment automation, autonomous trucks dominated the industry in 2022
- Retrofitting the mining equipment with automated technology is expected to contribute to the growth of the equipment automation segment considerably
Mining Automation Market Report Scope
Report Attribute
Details
Market size value in 2023
USD 5.28 billion
Revenue forecast in 2030
USD 8.64 billion
Growth rate
CAGR of 7.3% from 2023 to 2030
Base year for estimation
2022
Historical data
2018 - 2021
Forecast period
2023 - 2030
Mining Automation Market Segmentation
Grand View Research has segmented the global mining automation market based on solution, application, and region:
Mining Automation Solution Outlook (Revenue, USD Million, 2018 - 2030)
- Software Automation
- Services
- Implementation & Maintenance
- Training
- Consulting
- Equipment Automation
- Autonomous Trucks
- Remote Control Equipment
- Teleoperated Mining Equipment
Mining Automation Application Outlook (Revenue, USD Million, 2018 - 2030)
- Metal Mining
- Mineral Mining
- Coal Mining
Mining Automation Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- Canada
- U.S.
- Europe
- Germany
- U.K.
- Asia Pacific
- Australia
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- Middle East & Africa
Mining Automation Market report added by Value Market Research, offering growth, trends, and forecast for each segment along with regional and country analysis.
The study has done with respect to market share, size, outlook, estimation and forecast period 2021-2027.
Further, this report also highlights the regional and country-level market analysis.The mining automation market is vast, with many local and global players.
the key leaders follow different strategies to advance their market position, such as contracts, amalgamation, extending product portfolio, expansions, acquisitions, and product upgrades to raise their market share across the globe.
for instance, in June 2017, Komatsu America Corp., a Komatsu Ltd subsidiary, has introduced HD405-8 and HD325-8 off-highway trucks.
The new models contain payload capacities of 36.5 and 40 metric tons, correspondingly.
According to the new market research report "Mining Automation Market by Technique, Type (Equipment, Software, Communications System), Equipment (Autonomous Hauling/Mining Trucks, Autonomous Drilling Rigs, Underground LHD Loaders, Tunneling Equipment) and Region - Global Forecast to 2023", The mining automation market is expected to grow from USD 2.22 Billion in 2017 to reach USD 3.29 Billion by 2023, at a CAGR of 6.77% between 2017 and 2023.
Key factors such as the increasing need for worker safety, improving productivity, and reducing overall operational costs are driving the mining automation market growth.
Browse 37 Market Data Tables and 45 Figures spread through 146 Pages and in-depth TOC on "Mining Automation Market - Global Forecast to 2023"Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=257609431 Early buyers will receive 10% customization on reports.The underground mining automation market to hold the largest share between 2017 and 2023An underground mining technique is used to extract the mineral and ore deposits, which are buried deep under the earth’s crust.
However, underground mining is considered more dangerous than that of surface mining due to the potential dangers such as adverse health effects, collapse, release of toxic gases, and lack of proper ventilation, which results in suffocation.
Some of the most common types of underground mining techniques include room and pillar mining, cut-and-fill stoping, longwall mining, shaft mining, and slope mining.
Moreover, the increasing digitization of mines and globalization of economies have attracted significant investments from the mining companies all over the world.The major players in the mining automation market are Atlas Copco (Sweden), Caterpillar (US), Hexagon (Sweden), Komatsu (Japan), and Sandvik (Sweden).
