Mining automation - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Mining Automation Market is accounted for $2.24 million in 2017 and expected to grow at a CAGR of 7.2% to reach $4.20 million by 2026. Factors such as the increasing need for worker safety, the increasing requirement enhancement in mining productivity, and the fall in operating expenses are driving the market growth.
Mining automation refers to highly efficient autonomous equipment installation that enhances the productivity and improves safety which protects workers from the issues related to hazardous mining process. It automates the mining process for both surface and underground mining operation.
By mining technique, the market for underground mining technique is driving due to the major minerals found under the earth’s surface, which are explored, collected, and later on processed. As working in underground mines is considered hazardous, the need for advanced automated mining equipment is more for underground mining techniques. To safeguard mine workers, automated systems have been deployed at a huge rate in underground mines, which enables the market growth at a substantial rate.
By Type, software and information technology can help mining organizations by building in efficiencies to improve productivity, improve profits and drop the costs by providing technologies and applications to equip organizations with the intelligence to improve processes.
Based on geography, Asia pacific has huge natural reserves spread among the countries throughout the region. It is expected to become one of the largest markets for mining equipment and execution of mining automation technologies. The reason for this trend is the improved use of automated mining equipment by top exploration and mining companies such as Rio Tinto, FMG Group, and BHP Billiton. Moreover, the increasing digitization of mines and globalization of economies have attracted significant investments from the mining companies all over the world.
Some of the key players in the Mining Automation Market include Trimble, Caterpillar, Sandvik, RPMGlobal, Komatsu, Hitachi, Hexagon, Fluidmesh Networks, Symboticware, MST Global, Autonomous Solutions Inc. and Atlas Copco.
• Communications System
• Underground Mining Technique
• Surface Mining Technique
• Mining Process
• Mine Maintenance
• Mine Development
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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