Kolkata News Today

Mining Automation Market Worth $4.2 Billion USD by 2027, at a CAGR of 6.3%

 Breaking News
  • No posts were found

Mining Automation Market Worth $4.2 Billion USD by 2027, at a CAGR of 6.3%

November 15
20:25 2022
Mining Automation Market Worth $4.2 Billion USD by 2027, at a CAGR of 6.3%
Mining Automation Market
Mining Automation Market Size is expected to reach from USD 4.2 billion by 2027 to grow at a CAGR of 6.3% between 2022 to 2027

The report “Mining Automation Market by Offering (Equipment (Autonomous Hauling/Mining Truck, Autonomous Drilling Rig), Software (Remote Operating and Monitoring System), Communication Systems), Technique, Workflow, Region – Global Forecast to 2027” The global mining automation market size is estimated to be USD 3.1 billion in 2022 and is projected to reach USD 4.2 billion by 2027, at a CAGR of 6.3%. Growing digital transformation of worldwide mining industry, rising focus on improving worker safety, and increasing need for improving productivity at mines are major factors driving the growth of the mining automation market. Additionally, evolution of connected mines and rising need for reducing operating costs are other key drivers for the market.

• Informational PDF Brochure :- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=257609431

Browse 180 market data Tables and 70 Figures spread through 245 Pages and in-depth TOC on “Mining Automation Market by Offering (Equipment (Autonomous Hauling/Mining Truck, Autonomous Drilling Rig), Software (Remote Operating and Monitoring System), Communication Systems), Technique, Workflow, Region – Global Forecast to 2027”
View detailed Table of Content here
https://www.marketsandmarkets.com/Market-Reports/mining-automation-market-257609431.html


Mining Automation Market

Based on offering, mining equipment accounted for the largest share of the market in 2021

Autonomous hauling/mining trucks help to avoid breaks or shift changes that are associated with the use of manned machines for mining operations. The demand for autonomous hauling/mining trucks is on the rise as major mining companies have started deploying autonomous hauling/mining trucks to improve the efficiency, safety, and maintenance of mining operations. Automated driverless trucks operate independently and thereby ensure safety in complex mining operations with the help of an autonomous haulage system (AHS).  Automated drill rigs are more precise and predictable, can operate 24*7, and remove many of the safety risks attached to manually operated drill rigs.

Based on technique, underground mining held the larger share and is also projected to register higher growth during the forecast period

Most minerals are found under the Earth’s crust, which are explored, collected, and then processed. Underground miners have a high occupational risk. They have to face hazardous and life-threatening events such as collapse, flood, and are subject to a tremendous amount of toxic gases while working in underground sites. Stringent regulations have forced mining companies to invest in advanced automated mining equipment for the safety of underground miners during mining operations. The increasing demand for automated mining equipment for underground operations is driving the underground segment.

Based on workflow, mine development is projected to register the highest growth while mining process is projected to register the second-highest growth rate

Advanced tunnel boring machines (TBMs) are now being used worldwide for highly efficient drilling through the Earth’s crust. Full-face tunnel boring machine (TBM) tunneling has unparalleled advantages over conventional drill-and-blast (D&B) techniques in terms of higher advance rates and lower risk levels in favorable ground conditions. Autonomous haulage has helped mining companies to increase their fleet utilization rates, resulting in increased production.

The mining automation market in Asia Pacific held the largest share and is projected to grow significantly from 2022 to 2027

The growth of the market in Asia Pacific can be attributed to the efforts being made to boost the region’s mining sector through the adoption of innovative practices and implementation of mining automation technologies. The mining industry in China plays an important role in driving industrialization and urbanization, as it provides raw materials to meet the growing demand for resources. Additionally, the mining industry in China contributes to socio-economic development and increasing foreign capital investment. In India, government authorities have taken steps to curb illegal mining and established effective monitoring systems to carry out efficient mining activities throughout the country.

Major companies operating in the mining automation market include Caterpillar (US), Hexagon AB (Sweden), Epiroc AB (Sweden), Komatsu (Japan), Sandvik AB (Sweden), Liebherr Group (Switzerland), SANY Group (China), RPMGlobal (Australia), Rockwell Automation, Inc. (US), and Siemens (Germany).  

Don’t miss out on business opportunities in Mining Automation Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/mining-automation-market-257609431.html