The global mining automation market size is anticipated to reach USD 6.2 billion by 2025. It is also expected to register a 7.3% CAGR during the forecasted period, 2018 to 2025. The need for worker safety at mining sites coupled with the emergence of technologically advanced mining equipments is anticipated to drive the market growth.
The equipment automation held a share of 35.0% across the global market and is expected to witness 7.5% CAGR in the upcoming years due to the development of several well-equipped vehicles like autonomous trucks, and mining equipments. The teleoperated mining equipment segment is also gaining popularity due to the emergence of equipments such as cameras, RFID (Radio Frequency Identification), and wireless sensors.
The metal mining segment of application dominated the global market with a share of 35.0% in 2017 due to the surging adoption of many autonomous solutions for carrying out metal exploration activities. On the other hand, the application segment of coal mining also witnessed substantial growth due to the surging need for improvement of quarrying conditions at coal sites.
The Asia Pacific is expected to dominate the global market from 2018 to 2025 and is projected to hold a share of around 40.0% across the globe owing to the surging adoption of automation technologies across countries like Australia. While, North America is also projected to register significant growth due to the availability of zinc, nickel, and lead across the mines located in the U.S. and Canada.
The market for mining automation includes key players such as Caterpillar, Inc.; Hexagon AB; Sandvik AB; Komatsu Ltd. These players are investing hugely in R&Ds to gain a competitive advantage over other players and to widen their product reach. Also, services related to retrofitting are being provided by these players to enhance their product and service offerings.
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Further key findings from the report suggest:
• The equipment automation segment is anticipated to register a CAGR of 7.5% during the forecasted period, 2018 to 2025.
• Metal mining application segment dominated the global market with a share of 35.0% in 2017.
• Asia Pacific is anticipated to hold a share of around 40.0% until 2025 across the global mining automation market.
• The key players in this market are Caterpillar, Inc.; Hexagon AB; Sandvik AB; Komatsu Ltd.; and Siemens AG.
Million Insights has segmented the global mining automation market on the basis of solution, application, and region:
Mining Automation Solution Outlook (Revenue, USD Million, 2014 - 2025)
• Software Automation
• Implementation and Maintenance Services
• Training Services
• Consulting Services
• Equipment Automation
• Autonomous Trucks
• Remote Control Equipment
• Teleoperated Mining Equipment
Mining Automation Application Outlook (Revenue, USD Million, 2014 - 2025)
• Meta Mining
• Mineral Mining
• Coal Mining
Mining Automation Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• Asia Pacific
• Latin America