The Global Mining Automation Market size is expected to reach $7 billion by 2028, rising at a market growth of 6.9% CAGR during the forecast period.
The use of processes and software automation and the integration of automation technologies in mining vehicles and intelligent systems comprise mining automation. Automation in mining entails utilizing technology and data to extract ores, minerals, and other resources. The procedure is implemented to improve mine site productivity, efficiency, and safety and to reduce operating expenses. In addition, it eliminates human labor in the mining process.
The demand for mining automation is driven by key causes such as an increase in miner safety concerns, a rise in mining activity productivity due to automation, the elimination of high labor costs and time, and the advent of mining automation software. Working in underground mines is considered extremely dangerous due to potential dangers such as exposure to toxic gases,inadequate ventilation,and negative health impacts.
This worry spawned the demand for sophisticated mining equipment for underground mining processes to protect mine workers, which drives the market significantly. Automation in the mining process eliminates the need for manual labor. In addition, the reduction in time required to move through the mine during a shift reduces the overall cost of the mining operation, hence driving market expansion.
Rapid technological advancements, including Artificial Intelligence (AI) and robots, have led to a rise in the use of mining automation systems to increase production efficiency. Automated mining solutions are expanding due to the rising prevalence of new technology implementation. The advent of the Internet of Things (IoT) in this industry provides mine management with real-time data &analytics via visualization tools. In addition, many operators are collaborating with technology firms for the underground deployment of wireless networks.
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Caterpillar, Inc., Rockwell Automation, Inc. and Siemens AG are the forerunners in the Mining Automation Market. Companies such as Hexagon AB, Sandvik AB, and Komatsu Ltd. are some of the key innovators in Mining Automation Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Caterpillar, Inc., Hexagon AB, Hitachi Construction Machinery Co., Ltd., Komatsu Ltd., Sandvik AB, Liebherr-International AG, Rockwell Automation, Inc., Siemens AG, Trimble, Inc. and Autonomous Solutions, Inc.
The use of processes and software automation and the integration of automation technologies in mining vehicles and intelligent systems comprise mining automation. Automation in mining entails utilizing technology and data to extract ores, minerals, and other resources. The procedure is implemented to improve mine site productivity, efficiency, and safety and to reduce operating expenses. In addition, it eliminates human labor in the mining process.
The demand for mining automation is driven by key causes such as an increase in miner safety concerns, a rise in mining activity productivity due to automation, the elimination of high labor costs and time, and the advent of mining automation software. Working in underground mines is considered extremely dangerous due to potential dangers such as exposure to toxic gases,inadequate ventilation,and negative health impacts.
This worry spawned the demand for sophisticated mining equipment for underground mining processes to protect mine workers, which drives the market significantly. Automation in the mining process eliminates the need for manual labor. In addition, the reduction in time required to move through the mine during a shift reduces the overall cost of the mining operation, hence driving market expansion.
Rapid technological advancements, including Artificial Intelligence (AI) and robots, have led to a rise in the use of mining automation systems to increase production efficiency. Automated mining solutions are expanding due to the rising prevalence of new technology implementation. The advent of the Internet of Things (IoT) in this industry provides mine management with real-time data &analytics via visualization tools. In addition, many operators are collaborating with technology firms for the underground deployment of wireless networks.
COVID-19 Impact Analysis
Mining automation is suitable in this market environment. The mining industry was affected a lot due to the spread of COVID-19.Nevertheless, automation technologies are used to regulate these losses. The industry uses software and machinery in place of laborers. Automation in this sector is changing things for the better. The mining industry uses automation extensively. In the upcoming years, the market is anticipated to experience several developments. The miningautomation market has thus benefited from the widespread of COVID-19 pandemic and is predicted to witness growth over the upcoming years.Market Growth Factors
Growing demand for digital twin technology
Digital Twin simulations may be employed to forecast outcomes and project future scenarios, allowing operators to manage the physical environment via the digital duplicate. By assuming full control of machinery and equipment, individuals can be replaced with total automation enabled by a virtual simulation that enables efficient route mapping, timing, and method. Digital Twin also enables on-site workers to construct accurate virtual training simulators for new employees to face a variety of scenarios that can be simulated electronically. As the demand for digital twin technology rises, the mining automation market is predicted to grow significantly.Presence of technologically advanced equipment
Ores can be transported from mines to the port using a self-driving load haul dump vehicle. In the future years, it is anticipated that robotic gadgets will replace roughly half of all manual jobs. In addition, 3D imaging technology, automated drilling, a sophisticated aerial gravity gradiometer for mineral prospecting, and a sophisticated shaft and tunnel boring system are anticipated to facilitate mining operations. Thus, the availability of technologically advanced mining equipment contributes to the development of the mining automation market.Market Restraining Factor
High cost of operating and expensive machinery
Some mines continue to face the difficulty of insufficient investment dollars to adopt new technologies. The increased pricing of these machines due to the new Environmental Protection Agency (EPA) pollution restrictions is also anticipated to hinder the market's expansion. The national and global regulators overseeing these massive machines will impose more regulations, which will likely restrict the industry's expansion. In addition, regulations about the safety of the operator and personnel in the workplace are predicted to affect product demand and impede market expansion.Offering Outlook
On the basis of offering, the mining automation market is segmented into software, communication services, and equipment. In 2021, the software segment held the highest revenue share in the mining automation market. Automation of mining software enables the administrator to boost accountability, pinpoint production bottlenecks, and gain a better understanding of the investment's return. Mining businesses utilise mining automation software or procedures to better manage their operations. The software's automation of the procedure eliminates all human labour from the mining business.Technique Outlook
By technique, the mining automation market is bifurcated into underground mining, surface mining. The surface mining segment covered a considerable revenue share in the mining automation market in 2021. World mineral production is dominated by surface mining techniques. The evolution of technology over the years has enabled the use of surface techniques for deeper and less dense deposits. In addition, much progress has been achieved in mobile equipment's remote & autonomous operation in surface mining, like trucks and shovels.Application Outlook
Based on application, the mining automation market is categorized into metal mining, mineral mining, and coal mining. In 2021, the mineral mining segment dominated the mining automation market with the maximum revenue share. Mining minerals involves removing them from their ores. Rocks called ores are concentrated sources of precious metals, such as bauxite for aluminum, galena for lead, and cassiterite for tin. The two basic types of mining for minerals are surface mining and underground mining. Mineral ores are removed from the ground's surface using the surface mining.
Regional Outlook
Region wise, the mining automation market is analyzed across North America, Europe, Asia Pacific and LAMEA. In 2021, the Asia Pacific region led the mining automation market by generating the largest revenue share. The regional market is expected to be driven by Australia's growing embrace of automation technology. Remote controlled equipment and robots are being utilized in the Australian economy to safely and effectively extract minerals. Over the projection period, it is anticipated that the untapped drilling and exploring of the potential in developing nations like China and India will present significant growth prospects.The Cardinal Matrix - Mining Automation Market Competition Analysis
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Caterpillar, Inc., Rockwell Automation, Inc. and Siemens AG are the forerunners in the Mining Automation Market. Companies such as Hexagon AB, Sandvik AB, and Komatsu Ltd. are some of the key innovators in Mining Automation Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Caterpillar, Inc., Hexagon AB, Hitachi Construction Machinery Co., Ltd., Komatsu Ltd., Sandvik AB, Liebherr-International AG, Rockwell Automation, Inc., Siemens AG, Trimble, Inc. and Autonomous Solutions, Inc.
Recent Strategies Deployed in Mining Automation Market
Partnerships, Collaborations and Agreements:
- Dec-2022: Caterpillar teamed up with Luck Stone, a family-owned and operated producer of crushed stone, gravel, and sand. The collaboration includes incorporating Caterpillar's autonomous solutions in Luck Stone's bull run plant located in Virginia, United States. This collaboration advances Caterpillar's autonomous solutions beyond mining. Further, the collaboration involves implementing Caterpillar's MineStar command for hauling systems at Luck Stone's plant, which would enable Caterpillar to gain an understanding of the quarry operations.
- Apr-2022: Komatsu announced a partnership with Anglo-American Minas-Rio, a UK-based multinational mining company. The partnership involves conducting a trial of an ICT mining bulldozer with remote control functions. The company plans to trial D375Ai-8 tele remote control bulldozer at Anglo-American's Minas-Rio iron mine. Through this trial, the company intends to develop a new solution intended to accelerate productivity and safety at mine sites.
- Jan-2022: Caterpillar came into partnership with Teck Resources, a Canada-based multi-line mining company. The partnership involves working together to design, develop, pilot, and at the end deploy 30 fully connected, autonomous, zero-emission large haul trucks to Teck's mines.
- Oct-2021: Trimble partnered with Microsoft, a US-based developer of consumer and enterprise software. The partnership aims at accelerating technology adoption and advancing digital transformation in the agriculture, construction, and transportation industries.
- Sep-2021: Hexagon partnered with Hard-Line, a US-based company operating in the wireless communications market. The partnership aims at improving international mining capabilities, automation, and modernizing safety. Additionally, the partnership includes Hexagon acting as a major distributor for Hard-Line's TeleOp tele-remote technology in the Americas region, Kazakhstan, and Saudi Arabia.
- Sep-2021: Hexagon signed an agreement with Volvo Construction Equipment, a Sweden-based manufacturer of wheel loaders, articulated haulers, excavators, etc. The agreement aims at delivering autonomous safety systems intended for the mining industry.
- Sep-2021: Hexagon came into partnership with Liebherr, a Switzerland-based company primarily in the construction machines and equipment business. The partnership involves combining Hexagon’s technologies and Liebherr’s autonomous solutions to provide intelligence with less-dependency on-site infrastructure. Further, this partnership aligns with Hexagon's aim of an autonomous future and its commitment to the safety of miners.
- Aug-2021: Caterpillar partnered with BHP, an Australia-based miner primarily supplying copper, metallurgical coal, and iron ore. The partnership involves designing, developing, and deploying zero-emission vehicles to decrease greenhouse gas (GHG) emissions.
- Jun-2020: Hexagon partnered with Proudfoot, a US-based management consulting firm. Integrating safety technology and people-centric change methodology results in mitigating risk in the mine operations and protects the equipment.
Product Launches and Product Expansions:
- Mar-2023: Sandvik unveiled Toro LH518iB, a battery-powered, automation-ready, 18 metric-ton underground loader with various design updates, and enhanced quality to provide field service. Additionally, the new loader is compatible with the AutoMine system and is equipped with features including, built-in hardware for automation, standard valves, and harnesses.
- Jul-2022: Caterpillar introduced the Cat MineStar reporting platform intended for MineStar Solutions, a reporting and analytics product. The dashboards and reports created by the new platform are perfect for multiple or single mine sites. Additionally, the new platform enables the platform used to develop tailor-made reports and share appropriate information with each concerned person.
- May-2022: Caterpillar launched Cat 120 GC Motor Grader and Cat 303 CR Mini Excavator. The introduction of the new products broadens the company's market presence in the mining, energy, and infrastructure sectors in India.
- Jan-2022: Hitachi Construction Machinery launched ConSite Mine for the global market, a solution that delivers machine analytics to help support addressing the issues at mining sites. The recently introduced solution remotely monitors ultra-large hydraulic excavators and rigid dump trucks and delivers two kinds of status reports, monthly and alarm reports. The monthly report furnishes the user with updates on the machinery's operational condition, and the alarm report provides the personnel with any abnormalities detected.
Acquisitions and Mergers:
- Feb-2023: Sandvik completed the acquisition of Polymathian Industrial Mathematics, an Australia-based developer of software intended to equip businesses with industrial mathematics. The acquisition of Polymathian expands Sandvik's product offerings and further advances productivity.
- Oct-2022: Rockwell Automation took over CUBIC, a company that specializes in modular systems intended for the construction of electrical panels. The addition of CUBIC reinforces Rockwell's intelligent motor control technologies portfolio. Further, the combination of Rockwell's competence in intelligent devices and industry knowledge and CUBIC’s flexible and efficient modular systems benefits customers by providing them with faster time to market and producing smart data to enhance productivity and sustainability.
- Jun-2022: Komatsu took over Mine Site Technologies (MST), an Australia-based developer of network infrastructure intended for the mining industry. The addition of MST increases the availability of low-latency, high-speed digital communication. Further, through this acquisition, the acquirer intends to improve the frequency at which it provides advanced technology solutions, including teleoperation and automation of the mining equipment.
- Apr-2022: Sandvik acquired Deswik, an Australia-based developer of mine planning software. The addition of Deswik expands Sandvik's digital solutions portfolio and further enables the acquirer to furnish its clients with a full-fled suite of technologies.
- Jan-2022: Hexagon took over Minnovare, an Australia-based developer of industrial drilling technology. The addition of Minnovare's mining solutions advances Hexagon's underground development roadmap and further reinforces its blast and drill product and solutions offerings.
Geographical Expansions:
- Oct-2022: Sandvik expanded its global footprint by setting up a new plant in Quebec, Canada. The new facility includes warehouse space, an expanded workshop, a rock tools shop, and customer service. The new facility enhances Sandvik's aftermarket capabilities and further enables the company to fulfill the evolving needs of the Quebec region.
- Aug-2022: Liebherr expanded its already existing Perth facility. The expanded facility houses the resources, infrastructure, and capability needed for the delivery and development of its technology and mining decarbonization projects.
Scope of the Study
By Offering
- Software
- Equipment
- Services
By Technique
- Underground Mining
- Surface Mining
By Application
- Mineral Mining
- Coal Mining
- Metal Mining
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Caterpillar, Inc.
- Hexagon AB
- Hitachi Construction Machinery Co., Ltd.
- Komatsu Ltd.
- Sandvik AB
- Liebherr-International AG
- Rockwell Automation, Inc.
- Siemens AG
- Trimble, Inc.
- Autonomous Solutions, Inc.
Unique Offerings
- Exhaustive coverage
- The highest number of market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. Global Mining Automation Market by Offering
Chapter 5. Global Mining Automation Market by Technique
Chapter 6. Global Mining Automation Market by Application
Chapter 7. Global Mining Automation Market by Region
Chapter 8. Company Profiles
Companies Mentioned
- Caterpillar, Inc.
- Hexagon AB
- Hitachi Construction Machinery Co., Ltd.
- Komatsu Ltd.
- Sandvik AB
- Liebherr-International AG
- Rockwell Automation, Inc.
- Siemens AG
- Trimble, Inc.
- Autonomous Solutions, Inc.
Methodology
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