UK markets closed
  • NIKKEI 225

    27,574.43
    -111.97 (-0.40%)
     
  • HANG SENG

    19,450.23
    +635.41 (+3.38%)
     
  • CRUDE OIL

    72.02
    +0.56 (+0.78%)
     
  • GOLD FUTURES

    1,801.80
    +0.30 (+0.02%)
     
  • DOW

    33,781.48
    +183.56 (+0.55%)
     
  • BTC-GBP

    14,093.99
    +257.31 (+1.86%)
     
  • CMC Crypto 200

    405.01
    +10.32 (+2.62%)
     
  • ^IXIC

    11,082.00
    +123.45 (+1.13%)
     
  • ^FTAS

    4,082.24
    -11.44 (-0.28%)
     

The mining automation market size is expected to grow from USD 3.1 billion in 2022 to USD 4.2 billion by 2027; it is expected to grow at a CAGR of 6.3% from 2022 to 2027

ReportLinker
ReportLinker

The key factors driving the growth of the mining automation market are increasing number of government initiatives to attract foreign investments and promoting mining automation, increasing integration of technologies such as IoT and AI with various mining automation equipment and software, and growing digital transformation of global mining industry.

New York, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Mining Automation Market by Offering, Technique, Workflow, Region - Global Forecast to 2027" - https://www.reportlinker.com/p05164652/?utm_source=GNW
Growing demand for metals, minerals, coal, and ores, among others in various process and discrete industries is another major factor contributing to the growth of the mining automation market.

Mining equipment held the largest share of the market while communication systems are projected to register the highest growth rate during the forecast period
Mining equipment such as autonomous hauling trucks have their own wireless network that helps in transmitting the data generated from the truck for remote condition monitoring.The wireless network is also used to receive commands related to target course, speed, and dumping spots from the supervisory control unit.

With the introduction of modern tunneling equipment such as tunnel boring machines (TBMs), tunneling jumbos, and road headers, the task of mining companies became easier and economical.However, communication systems are expected to grow at the highest growth rate during the review period.

The wireless communication system is being increasingly deployed by mining companies owing to its rugged nature, ease of installation, and low cost of maintenance.

Underground mining technique accounted for the dominating share of the market in 2021
Some of the most common types of underground mining techniques are room and pillar mining, cut-and-fill stopping, longwall mining, shaft mining, and slope mining.In room and pillar mining, the roof of the mine is supported by rock pillars spaced out at regular intervals from where the ore is mined.

Cut-and-fill stopping is used in vertical stops and in mining high-grade irregular ore bodies.Many end-user industries such as automotive, construction, oil & gas, and energy & power are witnessing rising demand for application of metals, minerals, coal, ores, and others, thereby driving underground mining activities worldwide.

Furthermore, as underground mining is significantly more dangerous than surface mining due to potential dangers such as collapse, the release of toxic gases, and the lack of proper ventilation, there is a growing demand for automated mining equipment for underground mining activities.

Asia Pacific accounted for the largest share of the mining automation market in 2021 while the rest of the world (RoW) is projected to register the highest growth rate during the review period
The dense population and the growth in per capita income in Asia Pacific, along with large-scale industrialization and urbanization, are driving the growth of process and discrete industries in this region, which in turn are driving the demand for metals, coal, minerals, and ores etc.This rising demand for metals and ores is in turn driving the mining automation market in the Asia Pacific region.

In Vietnam, the demand for minerals in the domestic and foreign markets is witnessing a steady growth.Moreover, supportive policy framework in the region are promoting the growth of the mining automation market.

For instance, over the last decade, the Indonesian Government has continued to develop the detail of the new mining regulatory regime and has incorporated new laws for enhancing the potential of the mining sector in the country.However, RoW is projected to register the highest growth during the review period.

RoW comprises of South America and Middle East & Africa. Major mining countries in South America include Bolivia, Peru, Chile, and others (Argentina and Brazil). Mining is one of the most productive sectors in the South American region, having a significant share in the GDP of South American countries. About one-fifth of the world’s iron ore reserves are in South America, major beds being in Brazil and Venezuela. Similarly, there is an abundance of non-ferrous metals in South America. In South America, mining companies have been slowly increasing their investments in the region and have started implementing advanced automation technologies in their mining operations. Similarly, in Bolivia, the new mining policy allows mining companies to enter the Bolivian mining sector either by a joint venture or leasing contract. Allowing foreign investments has significantly improved the growth of the Bolivian mining industry.

Major players operating in the mining automation market include Caterpillar (US), Hexagon AB (Sweden), Epiroc AB (Sweden), Komatsu (Japan), Sandvik AB (Sweden), Liebherr Group (Switzerland), SANY Group (China), RPMGlobal (Australia), Rockwell Automation, Inc. (US), and Siemens (Germany), among others.

Research Coverage:
The research report on the global mining automation market covers the market based on offering, technique, workflow, and region.Based on offering, the mining automation market is segmented into equipment (autonomous hauling/mining trucks, autonomous drilling rigs, underground LHD loaders, tunnelling equipment, smart ventilation systems, pumping stations, and others (hybrid shovels, total stations, mining dozers, wheel loaders, and mining excavators)), software (remote operating and monitoring systems, proximity detection and collision avoidance systems, workforce management systems, data management solutions, fleet management systems, air quality & temperature monitoring systems, and others (asset tracking and payload monitoring systems)), and communication system (wireless mesh networks, navigation systems, and RFID tags).

Based on technique, the mining automation market is segregated into surface mining and underground mining.Based on workflow, the mining automation market is segregated into mine development, mining process, and mine maintenance.

The report covers four major regions, namely, North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).

Key Benefits of Buying the Report:
This report segments the mining automation market comprehensively and provides the closest approximations of the overall market size, as well as that of the subsegments across different offering, technique, workflow, and region.
The report helps stakeholders understand the pulse of the market, and expected market scenario and provides information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05164652/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________

CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001