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I AgreeAnalysis of Mining Automation Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global mining automation market is forecasted to progress at a CAGR of 6.4%, thereby growing from its current value of US$ 4 billion to US$ 7.5 billion by the end of 2033.
Mining automation entails the use of process and software automation, as well as the inclusion of robotic technology in mining vehicles. Mining automation involves employing technology and information to extract minerals, ores, or other resources. The procedure is carried out to improve productivity, safety, efficiency, and reduce operating costs at the mine site.
The COVID-19 pandemic had a severe impact on the mining industry. Mineral and metal demand dramatically reduced, and many commodity prices plunged to historic lows due to the outbreak. The pandemic also affected the mining equipment supply chain, making it harder for enterprises to obtain the necessary supplies.
As a result of these issues, several mining businesses resorted to automation. Automation can help mines run more effectively and safely while also saving money. For example, the deployment of self-driving vehicles assisted in limiting the number of individuals working close to one another, lowering the danger of virus transmission.
With the emergence of automation in the mining industry, the mining rate and output have increased dramatically. The use of automation in critical areas of mining improves efficiency and precision.
Automation also took on the responsibilities of workers, reducing labor pressure and resulting in a lesser workforce in the mining industry. Since the equipment and instruments were managed and performed with automation, the mining operation became more efficient. The enhanced production rate achieved via the use of automation is raising the market value of mining automation.
Moreover, the availability of high-tech mining equipment is assisting the growth of the global market. Drones are increasingly being employed to assess mineral-deposited areas that are remote and difficult to reach. Drones can be utilized to monitor and inspect subsurface activities and mining machinery. Drones can also be used for autonomous surveying, mapping, inventory management, haulage, and road transportation, thereby facilitating a greater level of business workflow automation.
Robots and self-driving vehicles are also widely used in production operations. Robotic gadgets are predicted to replace roughly half of all manual employment in the near future. AI-powered robots can execute a variety of operations, such as exploding, drilling, loading, transporting, resource sampling, and retrieving trapped miners. Ores can be transported from mines to ports using an unmanned load haul dump vehicle.
Additionally, automated drilling, 3D imaging technology, an improved aerial gravity gradiometer for mineral prospecting, and an enhanced shaft and tunnel boring system are projected to make mining operations easier.
Report Attributes |
Details |
Mining Automation Market Size in 2023 |
US$ 4 Billion |
Projected Market Value (2033) |
US$ 7.5 Billion |
Global Market Growth Rate (2023 to 2033) |
6.4% CAGR |
Asia Pacific Market Share (2022) |
39% |
Leading Automation Type Segment |
Equipment |
Key Companies Profiled |
|
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“Growing Government Investments in the Sector”
Increasing government efforts in the mining sector are boosting the use of automated solutions.
The effort aimed to help South Australians uncover groundwater resources and new minerals. It featured a co-funding scheme for single and multi-drilling operations in frontier terrains, as well as innovation, technologically advanced exploration concepts, sophisticated logistics support, and the detection and evaluation of new groundwater resources.
“Pressing Need for Worker's Safety in Mines”
In the mining industry, worker safety from potential hazards is a crucial consideration. In the industrial fields, the necessity for worker safety is growing by the day. Permission and licensing for large-scale mining can only be obtained by ensuring the safety of workers and a safe working environment.
The licensing of governments and health organizations is largely aimed at improving the mining industry's working environment and conditions. Automated mining makes the procedure safer and offers better working conditions for the miners. Moreover, high-risk machines can be controlled using computers and control panels, ensuring the safety of workers.
“Increasing Usage of Digital Twin Technology”
Planning mining operations are becoming more successful with the use of virtual simulations. Miners can use digital twin technology to model the whole work situation to produce long-term and short-term plans with realistic time estimates for numerous activities such as drilling, mining, and processing.
Furthermore, a virtual simulation of the complete work process, comprising machinery and equipment, will allow on-site personnel the freedom to try novel approaches for critical activities at no extra cost, as each trial will be done in a digital simulation. Digital twin simulations can be utilized to forecast outcomes and predict potential events, allowing operators to manage the actual environment via the digital replica.
“High Initial and Maintenance Costs”
The high expenses of purchasing and maintaining automated equipment and solutions can hinder market growth. Aside from the high cost, the necessity for more experienced employees to handle automated systems and sufficient training for automotive engineers can increase the overall cost. Furthermore, even after buying automated equipment, many machines require extensive maintenance. Such factors can adversely impact market expansion.
“Growing Adoption of Automated Vehicles”
Consumption of metals and minerals in Asia Pacific is relatively high due to the phenomenal economic growth of emerging countries. As a result, governments and private corporations are investing significantly in mining activities that will pave the way for mining automation in Asia Pacific.
Moreover, Japan and South Korea are providing major support to the regional market growth due to the increasing adoption of automated vehicles.
“Increasing Awareness & Deployment of Automation Technologies”
Due to the region's expanding mining industry, mining automation services are in high demand in North America. Moreover, the market in the United States and Canada is witnessing substantial growth due to increased awareness and deployment of automation in mining operations by top mining organizations.
“United Kingdom & Germany to Aid Regional Market Expansion”
Europe emerged as one of the significant regions in the worldwide market due to the rising use of autonomous vehicles and mining equipment in exploratory mining activities.
Moreover, the United Kingdom and Germany are assisting the market growth in Europe due to the increasing implementation of automated equipment for regulating and monitoring mining processes in these countries.
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“Automated Mining Equipment to Simplify Large-Scale Mining”
Mining equipment automation comprises remote control equipment, teleoperated mining, and autonomous trucks. Significant advances in equipment automation technologies are projected to continue to simplify the way large-scale mining is carried out around the world.
“Increasing Demand for Metals from Consuming Sectors”
Demand for mining automation technologies is escalating. This is due to growing usage in metal exploration activities. Furthermore, consuming sectors' increased demand for metals such as copper, lead, zinc, and nickel is raising the usage of mining automation technologies.
The coal mining industry is also making significant use of mining automation technologies. The growing demand to improve mining conditions at coal sites is boosting the usage of automation technologies.
Key players in the mining automation market are focusing on providing autonomous solutions that bring benefits such as cost-efficiency and productivity in mining operations. Moreover, several start-ups are working on new developments to gain market share.
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The global mining automation market is valued at US$ 4 billion in 2023.
Global demand for mining automation solutions is predicted to expand at a CAGR of 6.4% during the forecast period.
The market for mining automation is expected to hit US$ 7.5 billion by 2033.
Asia Pacific held 39% share of the global market in 2022.
AB Volvo, Caterpillar, Inc, Atlas Copco AB, Fluidmesh Networks LLC, Autonomous Solutions, Inc, and Hexagon AB are leading players in this space.