Global Mining Automation Market

Mining Automation Market Size, Share, Growth Analysis, By Offering(Equipment (autonomous hauling/mining trucks, autonomous drilling rigs, underground LHD loaders, tunneling equipment), By Technique(Undergrounding mining, surface mining), By Workflow(mining process (autonomous haulage, automated drilling), Mining maintenance (HVAC installation & maintenance and mine dewatering), Mining development (tunnel boring), By Solution(Software Automation, Services, Equipment Automation), By Application(Metal Mining, Mineral Mining, Coal Mining), By Region - Industry Forecast 2024-2031


Report ID: SQMIG15J2051 | Region: Global | Published Date: March, 2024
Pages: 184 | Tables: 64 | Figures: 75

Mining Automation Market Dynamics

Mining Automation Market Drivers

Increasing Focus on Safety 

  • The mining industry is inherently hazardous, and there is a growing emphasis on improving safety conditions for workers. Automation technologies enable the remote operation of equipment and the use of autonomous vehicles, reducing the risk of accidents and improving worker safety. 

Fleet management systems are in greater demand 

  • The increasing need for resources and minerals due to population increase and industrialization is propelling the connected mining fleet management market's growth. To meet this demand, mining operations are growing, and linked fleet management solutions are essential. These solutions assist mining companies in cutting costs, improving planning and judgement, and increasing operational effectiveness.  

Restraints 

High Initial Investment 

  • Implementing mining automation systems requires significant upfront investment in equipment, software, infrastructure, and training. The initial costs associated with adopting automation technologies can be a barrier for some mining companies, especially smaller operations. 

Increased depletion of natural resources 

  • Mining operations cause erosion and the production of greenhouse gases, including carbon dioxide. They also cause the disruption of biomes. These procedures exacerbate long-term ecological damage, underscoring the vital necessity of sustainable mining methods to lessen their negative effects on the environment and protect ecosystems. Furthermore, lesser ore grades have been extracted from overuse of natural resources. 

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FAQs

Global mining automation market size was valued at USD 5.28 billion in 2022 and is poised to grow from USD 5.67 billion in 2023 to USD 9.95 billion by 2031, growing at a CAGR of 7.3% in the forecast period (2024-2031).  

The players are focused on providing autonomous solutions that improve both cost and efficiency in mining operations. The suppliers are expanding their product offerings by including tele-remote functioning, AHS, and ADS solutions. Multiple suppliers are either retrofitting self-driving technology into their current inventory of equipment or developing a new line of autonomous products to establish a foothold in the industry. Caterpillar Inc. & Komatsu Ltd. now have autonomous truck lineups, whilst Rio Tinto Group has converted 19 Cat 793F mining tractors for autonomous operations.  'Caterpillar Inc.', 'Komatsu Ltd.', 'Sandvik AB', 'Hitachi Construction Machinery Co., Ltd.', 'Epiroc AB', 'Hexagon AB', 'ABB Ltd.', 'Rockwell Automation, Inc.', 'Trimble Inc.', 'Schneider Electric SE', 'Autonomous Solutions Inc.', 'RPMGlobal Holdings Limited', 'Joy Global Inc. (now part of Komatsu)', 'Atlas Copco AB', 'Symboticware Inc.', 'MineSense Technologies Ltd.', 'Motion Metrics International Corp.', 'ASI Mining', 'MST Global', 'RPMGlobal Holdings Limited'

Asia Pacific dominated the industry, accounting for more than 39.75% of total sales. The regional market is expected to be driven by the usage of automation technology throughout Australia. The Australian economy is witnessing the deployment of robots & remote-controlled machinery for the safe and effective exploitation of resources. Untapped drilling & exploration potential in nations such as China and India are likely to present significant growth prospects during the projection period. Sandvik AB, for example, purchased Deswik, an Australian business that provides mining-integrated software & consulting solutions, in 2022. 

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Global Mining Automation Market

Report ID: SQMIG15J2051

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