FEATURED COMPANIES
- Caterpillar
- Epiroc
- Hexagon
- Hitachi
- Komatsu
- Rockwell Automation
This report provides the strategists, marketers and senior management with the critical information they need to assess the global autonomous mining equipment market.
The report focuses on the autonomous mining equipment market which is experiencing strong growth. It gives a guide to the autonomous mining equipment market which will be shaping and changing our lives over the next ten years and beyond, including the market's response to the challenge of the global pandemic.
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Description:
Where is the largest and fastest growing market for autonomous mining equipment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Autonomous Mining Equipment market global report from the publisher answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider autonomous mining equipment market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The autonomous mining equipment market section of the report gives context. It compares the autonomous mining equipment market with other segments of the autonomous mining equipment market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, autonomous mining equipment market indicators comparison.
Scope
Markets Covered:
- By Type: Autonomous Hauling/Mining Trucks; Autonomous Drilling Rigs; Underground LHD Loaders; Tunneling Equipment; Others
- By Application: Metal; Coal; Others
Companies Mentioned:
- Caterpillar; Komatsu; Rockwell Automation; Hitachi; Sandvik; Hexagon; Epiroc
Countries:
- Brazil; China; France; Germany; India; Indonesia; Japan; South Korea; Russia; UK; USA; Australia
Regions:
- Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series:
- Five years historic and ten years forecast.
Data:
- Ratios of market size and growth to related markets, GDP proportions; per capita expenditure.
Data Segmentations:
- Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing:
- Data and analysis throughout the report is sourced using end notes.
What is the estimated value of the Global Autonomous Mining Equipment Market?
What is the growth rate of the Global Autonomous Mining Equipment Market?
What is the forecasted size of the Global Autonomous Mining Equipment Market?
Who are the key companies in the Global Autonomous Mining Equipment Market?
FEATURED COMPANIES
- Caterpillar
- Epiroc
- Hexagon
- Hitachi
- Komatsu
- Rockwell Automation
1. Executive Summary2. Autonomous Mining Equipment Market Characteristics3. Autonomous Mining Equipment Market Trends and Strategies4. Impact Of COVID-19 On Autonomous Mining Equipment
FEATURED COMPANIES
- Caterpillar
- Epiroc
- Hexagon
- Hitachi
- Komatsu
- Rockwell Automation
The global autonomous mining equipment market is expected grow from $2.28 billion in 2020 to $2.81 billion in 2021 at a compound annual growth rate (CAGR) of 23.2%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $3.44 billion in 2025 at a CAGR of 5%.
The autonomous mining equipment market consists of sales of autonomous mining equipment that works on wireless communication technologies and electronic tracking (CT) systems. Autonomous equipment involves minimal human intervention and helps in safe and productive mining and transportation of ores and other materials. The market consists of revenue generated by the companies manufacturing autonomous mining equipment by the sales of these products.
The autonomous mining equipment covered in this report is segmented by type into autonomous hauling/mining trucks; autonomous drilling rigs; underground LHD loaders; tunneling equipment; other and by application into metal; coal; others.
In June 2019, Komatsu Ltd has agreed to acquire Immersive Corporation which is a global mining technology and workforce optimization firm for undisclosed amount. Immersive develops, manufactures and sells mining equipment simulators for training machine operators for surface and underground mines. By integrating Immersive Corporation’s solutions, Komatsu will further contribute to improving mining customers' safety and productivity and to optimizing their operations. This acquisition is expected to support both Immersive Technologies and Komatsu in offering unrivaled service and products to their customers.
Judgment errors are expected to limit the growth of the autonomous mining equipment market. Incidence of accidents may take place and it often fails to give expected outcomes as they lack flexibility and are unable to handle unanticipated situations. Passive operations fail to take corrective actions in equipment malfunctioning which may result in accidents and losses.
Autonomous mining equipment companies have recently been affected by the COVID-19 outbreak. The global pandemic has led to restrictive containment measures involving social distancing and remote working, and the closure of industries and other commercial activities, thereby, affecting the entire mining industry. Mining companies are resorting to production slowdown, operations shut down, and workforce demobilization, due to which the scale of productivity has dropped. Many mines have already implemented autonomous mining technology; however, practically, the mining activity is not possible without human intervention. Moreover, the continuous lock-down in many areas resulted in supply disruption, reduced sales and reduced demand for end-user industries, negatively affecting profit margins of autonomous mining equipment companies and limiting the growth of the market.
Implementing data analytics such as artificial intelligence, machine learning, Internet of Things (IoT)-embedded systems, and other analytics in mining systems is a key trend in the autonomous mining equipment market. Artificial intelligence (AI) is helping to transform the mining industry into a safer, more profitable, and more environmentally friendly industry. AI can analyze vast quantities of data to better predict where to find better resources, along with minimizing errors. IoT system advances in mining equipment are making extraction cheaper without deteriorating existing grades. All of these changes are helping the industry improve its efficiency from mine to market.
Rising concerns regarding miners' safety are driving the autonomous mining equipment market. Mining is a dangerous profession with hazards such as fires, flooding, mine collapse, and health risks such as respiratory diseases, hearing loss, musculoskeletal disorders and heat stress. Introducing autonomous equipment such as robotic loaders, laser sensors and driverless trucks can help ensure workers’ safety. For instance, mining company Rio Tinto is using 73 driverless trucks in four of its iron mines in Australia to improve worker safety. More autonomous mining equipment are employed to minimize human intervention and thereby reduce accidents. Therefore, rising concerns regarding the safety of mine workers are expected to drive this market.
A selection of companies mentioned in this report includes:
- Caterpillar
- Komatsu
- Rockwell Automation
- Hitachi
- Sandvik
- Hexagon
- Epiroc
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