Mining Automation Market Analysis
The Mining Automation Market is projected to touch USD
4.03 billion at an 8.6% CAGR between 2018- 2025, states the recent Market
Research Future (MRFR) analysis. Mining automation includes the usage of
software automation and process and use of robotic technology both in mining
automation and mining vehicles. This process includes the extraction of
minerals, ores, and other resources using information and technology. Mining
automation is undertaken to ensure safety, better productivity, improved
efficiency, and fall in operating cost in the mine site.
Various factors are propelling the global mining
automation market share. As per the current MRFR report, such factors include
the growing need for worker safety, reduction in the overall operational price,
improved productivity, rising productivity of mining activities with the help
of automation, the availability of mining automation software, and elimination
of time & high labor cost.
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On the contrary, depletion of natural resources and
the impact of the ongoing COVID-19 pandemic may impede the global mining
automation market growth over the forecast period.
Market Segmentation
The MRFR report offers an inclusive segmental
analysis of the global mining automation market report based on operation and
offering.
By offering, the global mining automation market is
segmented into hardware, software, and communication system. The hardware segment
is again segmented into tunnelling equipment, pumping nations, mining
load-haul-dump (LHD), autonomous drilling rig, autonomous mining truck, and
others. The software segment is again segmented into temperature monitoring
system, remote operations and monitoring, workforce management, fleet
management, and others. The communication systems segment is segmented into
wireless mesh networks, navigation systems, and others. Of these, the software
segment will lead the market over the forecast period.
By operation, the global mining automation market is
segmented into mining process, management, and development. The mining process
segment is segmented into autonomous drilling and autonomous haulage. The
maintenance is segmented into mine dewatering and HVAC. The development segment
is segmented into access road construction, tunnel boring, and others. Of
these, the mining process segment will dominate the market over the forecast
period.
Regional Analysis
Based on the region, the global mining automation
market report covers the growth opportunities and recent trends across the Asia
Pacific (APAC), North America, Europe, and the Rest of the World (RoW).
Of these, North America will spearhead the market
over the forecast period. Growth of autonomous haulage and trucks, drilling
segments, strict government regulations with regards to worker safety, growing
adoption of industrial robotics, adoption of automation in water treatment and
mining, mineral processing, and metals, and presence of foreign developers of
automation solutions that operate from Canada are adding to the global mining
automation market growth in the region.
The global mining automation market in the APAC
region is predicted to have healthy growth over the forecast period. The
presence of emerging economies like South Korea, China, and India, the growing
infrastructure of IT technology, and increasing use of remote-controlled
equipment and robots are adding to the global mining automation market growth
in the region.
The global mining automation market in Europe is
predicted to have admirable growth over the forecast period. Booming utility,
energy, manufacturing, automotive, and transport sectors, use of 5G in the
mining industry, increasing use in the mining sector, and strategic partnerships
amid key manufacturers are adding to the global mining automation market growth
in the region.
The global mining automation market in the RoW is
predicted to have sound growth over the forecast period.
Competitive Landscape
Leading contenders profiled in the global mining
automation market report include Yokogawa Electric Corporation, Sandvik AB,
Caterpillar Inc, Atlas Copco AB, Siemens AG, Honeywell International Inc,
Wabtec Corporation, Schneider Electric SE, Mitsubishi Electric Corporation,
Emerson Electric Co, Rockwell Automation, Trimble Inc, Hitachi Limited, Hexagon
AB, Komatsu Limited, ABB Limited, and MST Global, among others.
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