What is the global market size of Mining Automation Market?

The rapid growth of technology, including Artificial Intelligence (AI) and robots, has resulted in a greater use of mining automation solutions to increase production efficiency. The increasing trend of incorporating cutting-edge technologies is driving the growth of automated mining solutions. The rise of the World Wide Web of Things (IoT) in this industry provides mine management access to real-time data and analytics via visualization tools. Several operators have teamed up with technology firms to build underground wireless networks.

What is the key driver of Global Mining Automation Market?

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.

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

Q: What is the key market trend for Global Mining Automation Market?

Increasing Adoption of Autonomous Vehicles: There is a growing trend towards the use of autonomous vehicles, such as haul trucks, loaders, and drillers, in mining operations. Autonomous vehicles offer benefits such as improved safety, increased efficiency, and higher productivity by eliminating the need for human operators in hazardous environments.

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

Mining Automation Market News

in Mining Automation Market

In March 2024, Sandvik received a major order from Codelco, the world's largest copper producer, to supply a AutoMineload and haul automation system, for use in the new Andesita project at the El Teniente mine in Chile. The order is valued at approximately $39.9 million (SEK300 million).
In February 2024, RCT’s agnostic machine control had been deployed on site to transform loader operations at Barminco’s Nova Mine in Western Australia.
In January 2024, mindzie, inc., a leading provider of Generative AI-Driven process mining and business process optimization software, announced the launch of a revolutionary new feature: integration with Python, the world’s most popular programming language.

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The 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'

There is a growing trend towards the use of autonomous vehicles, such as haul trucks, loaders, and drillers, in mining operations. Autonomous vehicles offer benefits such as improved safety, increased efficiency, and higher productivity by eliminating the need for human operators in hazardous environments.

Asia Pacific dominated the industry, accounting for more than 39.75% of total sales. The regional mining automation 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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