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Mining Laboratory Automation Market

Mining Laboratory Automation Market Forecasts to 2028 – Global Analysis By Product (Container Laboratory, Robotics, Laboratory Information Management Systems (LIMS)), and By Geography

4.5 (96 reviews)
Published: June 2021 ID: SMRC20578
4.5 (96 reviews)
Published: June 2021 ID: SMRC20578

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global Mining Laboratory Automation market is accounted for $369.30 million in 2020 and is expected to reach $497.69 million by 2028 growing at a CAGR of 3.8% during the forecast period. Some of the key factors propelling the market growth include shift from traditional practices to automation, new and innovative solutions, rising need to enhance productivity and improve workers' safety, and the deployment of automation, AI, and robotics is rapidly increasing. However, higher initial setup costs for overall module is restricting the market growth.

 

mining-laboratory-automation-fig-8.png

Laboratory automation automates the routine laboratory procedures and the use of dedicated workstations and software, and program instruments, which allows the associate scientists and technicians to deploy their resources and innovations towards experimentation and designing of useful follow-up projects, instead of spending their days performing tasks of tedious repetition. The automation of laboratory functions in the mining industry reduces the requirement of human labor in the work environment, reducing human errors. Automation not only lowers errors but also improves efficiency and accuracy in most cases.

By product, the laboratory information management systems (LIMS) segment is projected to grow at the significant rate during the forecast period. A Laboratory information management system (LIMS) is software that allows professionals or scientist to manage samples, test results and associated data to improve lab productivity. It aids standardize workflows, tests and procedures, while providing accurate controls of the process. They ensure product standards, quality control and environmental safety standards as well as to improve productivity and meet regulatory needs. Mining laboratories need to cover a broad range of testing regimes ranging from rare earths and base metals to gemstones. Also, mining and metal processing laboratories need to control their processes with a sophisticated laboratory information management system (LIMS) such as CCLAS 6.

On the basis of geography, North America region is expected to have considerable market growth during the forecast period, due to the technology adoption across various industries. The growing mining industry in the region has further augmented the growth opportunities for the adoption of lab automation solutions in the industry. Canada is also geologically endowed with natural resources. According to NRCan, the country holds the first position in potash production, second position in uranium and diamond production, and the third position in aluminum production. Moreover, Canada has one of the lowest effective tax rates among the international mining jurisdictions. Its flow-through shares mechanism, along with the mineral exploration tax credit and some provincial measures, is recognized for its innovative approach for stimulating mineral exploration, thus driving the players to invest in the market.

Some of the key players in Mining Laboratory Automation Market include Datech Scientific Ltd., Intertek Group PLC, Nucomat, HERZOG Automation Corp., FLSmidth A/S, Bruker Corporation, Rocklabs (SCOTT Group), Thermo Fisher Scientific Inc., Online LIMS Canada Limited, Malvern Panalytical Ltd., and GE Energy.

Report Coverage

Details

Published Year:

2021

Estimated Market Size in 2020:

USD 369.30 million

Estimated Period:

2020

Compound Annual Growth Rate (CAGR)  from 2020 to 2028:

3.8%

Predicted 2028 Value:

USD 497.69 million

Forecast Years:

2021-2028

Tables, Graphs & Figures

37

Chapters Covered:

Product

Core Drivers and Opportunities:

  • Shift from traditional practices to automation
  • Rising need to enhance productivity and improve workers' safety
  • The deployment of automation, AI, and robotics is rapidly increasing

Restraining Factors & Market Threats:

  • Higher initial setup costs for overall module


Products Covered:
• Container Laboratory
• Robotics
• Automated Analyzers and Sample Preparation Equipment
• Laboratory Information Management Systems (LIMS)

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK 
o Spain
o Rest of Europe      
• Asia Pacific
o Japan       
o China       
o India       
o Australia       
o New Zealand   
o South Korea            
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
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 analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- 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 Mining Laboratory Automation Market is majorly driven by shift from traditional practices to automation, new and innovative solutions, and deployment of automation, AI, and robotics is rapidly increasing due to the enhanced productivity and mitigating operational costs for laboratories.

The laboratory information management systems (LIMS) segment is growing at a highest CAGR owing to the introduction and increasing market penetration of the cloud-based LIMS, wherein the data can be accessed via multiple devices with grant permission, and it helps in managing and aggregating data from samples.

North America dominated with a significant market share due to the technology adoption across various industries, growing mining industry in the region, and the adoption of lab automation solutions in the mining industry.

Asia Pacific market is growing at a highest CAGR owing to the presence of developing nations such as India, South Korea, Australia and China among others, availability of skilled workforce required in the field of lab automation, and improving economic conditions in this region.

Key players in Mining Laboratory Automation Market include Datech Scientific Ltd., Intertek Group PLC, Nucomat, HERZOG Automation Corp., FLSmidth A/S, Bruker Corporation, Rocklabs (SCOTT Group), Thermo Fisher Scientific Inc., Online LIMS Canada Limited, Malvern Panalytical Ltd., and GE Energy.

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