Automated Mining Equipment Market Forecasts to 2028 – Global Analysis By Component (Hardware, Software, Services), Technique (Underground Mining Technique, Surface Mining Technique), and By Geography
According to Stratistics MRC, the Global Automated Mining Equipment Market is accounted for $2,438.37 million in 2020 and is expected to reach $4,648.72 million by 2028 growing at a CAGR of 8.4% during the forecast period. Factors such as rising need to enhance productivity and increasing concerns regarding safety are driving the growth of the market. However, concerns regarding the elimination of many jobs due to automation are hampering the growth of the market.
The mining industry is experiencing a shift resulting in the adoption of automation. It requires a huge amount of human capital, significantly within the developing world wherever labor prices are low therefore there is less incentive for increasing potency. Automated mining equipment entail the reduction of human labor in the mining method.
Based on the technique, the underground mining technique segment is anticipated to expand at a rapid pace during the forecast period owing to the increased safety offered by the automated solutions in this sector. By geography, Asia Pacific is going to have high growth during the forecast period which can be attributed to the increasing manufacturing output and construction activities, especially in the developing economies like China & India.
Some of the key players profiled in the Automated Mining Equipment Market include Caterpillar Inc., Rockwell Automation, Hitachi Ltd, ABB, Komatsu Ltd, AB Volvo, Atlas Copco, Autonomous Solutions, Abacus Engineering, 3B hungaria, Hexagon, Access T&D, Trimble, 3D Laser Mapping, and Advanced Fleet Signs.
Estimated Market Size in 2020:
USD 2,438.37 million
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 4,648.72 million
Tables, Graphs& Figures
Component, Workflow, Technique, Type and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Mining Process
• Mine Development
• Mine Maintenance
• Underground Mining Technique
• Surface Mining Technique
• Communication System
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Automated Mining Equipment Market is majorly driven by rising need to enhance productivity and increasing concerns regarding safety.
The underground mining technique segment is growing at a highest CAGR owing to the increased safety offered by the automated solutions in this sector.
North America dominated with a significant market share due to the factors such as the presence of international active mineral exploration sites and government regulations that mandates the safety of mining sites.
Asia Pacific market is growing at a highest CAGR owing to the increasing manufacturing output and construction activities in the region.
Key players in Automated Mining Equipment Market include Caterpillar Inc., Rockwell Automation, Hitachi Ltd, ABB, Komatsu Ltd, AB Volvo, Atlas Copco, Autonomous Solutions, Abacus Engineering, 3B hungaria, Hexagon, Access T&D, Trimble, 3D Laser Mapping, and Advanced Fleet Signs.
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