Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 3.69 Billion | USD 7.00 Billion | 7.48% | 2023 |
The global mining automation market size was worth around USD 3.69 billion in 2023 and is predicted to grow to around USD 7.00 billion by 2032 with a compound annual growth rate (CAGR) of roughly 7.48% between 2024 and 2032.
The report covers a forecast and an analysis of the mining automation market on a global and regional level. The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion).
Over the last few decades, substantial developments have been made in the mining industry. With the advancement of technology, automation has spread toward mining operations. Mining automation is considered as the biggest upcoming idea in the present scenario. Mining automation involves the use of drones and robots for various mining processes, operations, activities, and operations instead of human labor. The companies involved in the mining industry are investing huge amounts of capital to implement automation in mining. In the forthcoming years, the mining industry will still require human labor but with the automation implementation in different operations and activities, human labor involvement will be less extensive.
The study includes drivers and restraints of the mining automation market along with their impact on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the mining automation market on a global level.
In order to give the users of this report a comprehensive view of the mining automation market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.
The report provides a company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new technology launches, agreements, partnerships, collaborations & joint ventures, research& development, technology, and regional expansion of major participants involved in the market on a global and regional basis. Moreover, the study covers price trend analysis and product portfolios of various companies according to regions.
The global mining automation market is likely to experience significant growth in the future, as ensuring the workers’ safety in mining operations is of utmost importance. Mining automation refers to the installation of highly efficient devices that enhances productivity, which is another growth driver for this market. According to the Western Australia Department of Mines and Petroleum, 52 fatal accidents were reported between 2000 and 2012, in which 17 were underground and 35 were on the surface. Mining operations are harmful as people get exposed to toxic materials and flammable gases in the most dangerous areas. Mining automation helps in identifying those dangerous areas in mines by deploying robots and drones. Thus, this factor will also fuel the mining automation market growth in the future. However, the lack of skilled labor in operating the highly efficient equipment may put a hindrance on this market’s development in the upcoming years.
The study provides a decisive view of the mining automation market by segmenting it based on type, technique, application, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.
Based on type, the mining automation market includes equipment, software, and communication system.
By technique, the market is categorized into underground mining and surface mining.
The application segment of the mining automation market comprises metal mining, coal mining, and mineral mining.
Report Attributes | Report Details |
---|---|
Report Name | Mining Automation Market Research Report |
Market Size in 2023 | USD 3.69 billion |
Market Forecast in 2032 | USD 7.00 billion |
Growth Rate | CAGR of 7.48% |
Number of Pages | 110 |
Key Companies Covered | Autonomous Solution, Atlas Copco, Caterpillar, Hexagon, Hitachi, Komatsu, MST (Mine Site Technologies), RPM Global Holdings, Sandvik, and Trimble. |
Segments Covered | By Type, By Technique, By Application, And By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
The regional segment includes the historical and forecast demand for North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
The Asia Pacific region holds an extensive share of the global mining automation market, due to the presence of a large number of mines in the region and the increased adoption of automation technologies for mining activities and operations in Australia. Moreover, the mining exploration activities in the untapped parts of China and India are likely to positively impact this regional market’s growth. The Middle Eastern and African region is expected to show modest development in the global mining automation market, as mineral mining activities are flourishing in the region and the growing regional demand for metal mining.
Some major industry players operating in the global mining automation market include:
Global Mining Automation Market: Type Analysis
Global Mining Automation Market: Technique Analysis
Global Mining Automation Market: Application Analysis
Global Mining Automation Market: Regional Analysis
FrequentlyAsked Questions
Mining automation involves the use of technology to enhance the efficiency, safety, and productivity of mining operations by automating various processes and machinery.
According to study, the Mining Automation Market size was worth around USD 3.69 billion in 2023 and is predicted to grow to around USD 7.00 billion by 2032.
The CAGR value of Mining Automation Market is expected to be around 7.48% during 2024-2032.
Asia Pacific has been leading the Mining Automation Market and is anticipated to continue on the dominant position in the years to come.
The Mining Automation Market is led by players like Autonomous Solution, Atlas Copco, Caterpillar, Hexagon, Hitachi, Komatsu, MST (Mine Site Technologies), RPM Global Holdings, Sandvik, and Trimble.
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