Global Mining Automation Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Mining Automation Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

The fully automated mine has long since passed the days of concept and evolved into a reality. If the industry is to survive and grow, on this planet and elsewhere, total automation of many of the processes is the way forward. Driverless trucks, conductor less trains and mines run by cell phone networks, autonomous technologies such as these are taking miners out of mines, driving efficiency, and changing the way the mining industry operates.

Market Overview:

The latest research study on the global Mining Automation market finds that the global Mining Automation market reached a value of USD 3483.3 million in 2022. It’s expected that the market will achieve USD 5243.7 million by 2028, exhibiting a CAGR of 7.06% during the forecast period.

Influence of COVID-19 Outbreak on Mining Automation Industry Development

General overview
In the past few months, due to the continuous spread of COVID-19 on a global scale, major mining companies have closed down, and news of slowing down and locking down major mines is full of the latest news. Mining companies are affected by the COVID-19 epidemic, and global restrictions on encouraging social distancing mean that mining projects have been slowed down or shelved until further notice. There is no doubt that as the spread of the virus accelerates, mining executives are beginning to feel nervous. The share prices of listed mining companies are falling in a spiral. Commodity prices across the industry have been falling because the industry is considering the devastating aftershocks of this black swan event.
Although the recent surge in commodity prices and various cost-cutting measures have brought positive results, mining companies still feel pressured.
Mining company's short-term prospects are worrisome
In recent years, the industry has been quiet for various reasons. Generally speaking, the performance of mining companies is relatively stable. However, many companies are not prepared for the sudden emergence of new coronary pneumonia. Large companies may be able to overcome it. The difficulties faced by small and mediumsized companies are more serious. The first is that traffic control has led to a significant increase in product transportation costs. The second is that some personnelintensive companies have to delay the start of operations and cash flow is challenged. The third is the increase in the risk of order default and subsequent order transactions are affected. Fourth, the import and export business are affected by entry and exit. Regulatory impact. In the short term, mining companies will be struggling to survive, but if mining companies can survive the trough, once the epidemic is over in the future, the industry's various data growth is worth looking forward to.

Limitations

The adoption of mining automation requires highly skilled and qualified labor in the mine. The lack of personnel required to operate the technology is the main background. Lack of required labor is the main factor restricting market growth. Most manual tasks involving entry-level mining positions have been taken over by mining automation, causing unskilled workers to lose jobs, which hinders market growth.
Although mining automation robots are faster and more efficient, they cannot make decisions about certain programs without the necessary data. Human workers can assess the situation and make decisions based on available or unavailable data, allowing them to learn down-to-earth without programming to account for missing data.

Region Overview:

North America had the highest growth rate of all regions.

Company Overview:

The top three companies are Sandvik, Caterpillar Inc. and ABB Group with the revenue market share of 13.30%, 11.85% and 10.78% in 2019.

Sandvik AB is a Swedish multinational engineering company with operations within tools and tooling systems for metal cutting, equipment and tools, service and technical solutions for the mining and construction industries, products in advanced stainless steels and special alloys as well as products for industrial heating.

Caterpillar, Inc. engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: construction industries, resource industries, energy and transportation, financial products, and all other.

Segmentation Overview:

Among different product types, Underground Mining Automation segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Metal Mining segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Mining Automation market covered in Chapter 3:

RCT
Malvern Panalytical
RPMGlobal
Caterpillar Inc.
Autonomous Solutions, Inc.
Hexagon
Emesent Pty Ltd
Siemens AG
SkymineUAV
Sandvik
Volvo Group
Micromine
Minerva Intelligence
Epiroc AB
Hitachi
Solve Geosolutions
Trimble
MST Global
Fluidmesh Networks
Komatsu
ABB Group
Aganitha Cognitive Solutions
EARTH AI

In Chapter 4 and Chapter 14.2, on the basis of types, the Mining Automation market from 2018 to 2029 is primarily split into:

Underground Mining Automation
Surface Mining Automation

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Mining Automation market from 2018 to 2029 covers:

Metal Mining
Mineral Mining
Coal Mining
Other

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)