Mining Automation Market is valued at USD 4.8 Billion in 2021 and is expected to reach USD 7.92 Billion by 2028 with a CAGR of 7.43% over the forecast period.
An Overview of Mining Automation Market-
Mining automation refers to the increased use of machines, drones, software and others equipment which removes humans from the highly vulnerable mining process for both surface and underground. The automation also allows the 24/7 working in the mines and enhance the productivity and reduce the automation cost also increases the safety of labors. The automation involves the installation of various machines and equipments for various process such as drilling, digging, loading, transfer as it reduces the human efforts and led to the reduction in mine accidents.
Some major key players for Mining Automation market are:
Mining Automation Market report is segmented on components, technique, and application and by regional & country level. Based upon components, mining automation market is segmented into equipment, software and communication system. On the basis of technique, the market is segmented into Underground Mining Automation and Surface Mining Automation. Based upon application, mining automation market is classified into Metal Mining, Mineral Mining, Coal Mining and Other.
Increase in the safety and improved efficiency coupled with increased adoption of automation is the key factor which helps Mining Automation Market to grow.
Mining is one of the major activities which is one of the most important for the human survival as these metals are required to fulfill the demands and these metals used in various manufacturing process. But there is always a risk as these mines can fall off any time which may lead to loss of human life. To reduce the threat of potential accidents increase in workers safety there is an increase in the demand for mining automation. Moreover, automation in mining also allows to increase the operational efficiency and productivity of the mines is expected to contribute the growth of mining automation market. Furthermore, change in government regulations regarding worker safety at workplace has also given rise to the increase of mining automation on a large scale. There is an increase in the research and development activities coupled with the technological advancement and increase in the investment by major market players are expected to create ample opportunities in the mining automation market. However, Lack of skilled workforce and high installation cost of these equipments and instruments may slow down the growth of mining automation market.
North America is expected to dominate the Mining Automation Market.
North America is expected to account for the major market share over the forecast period which is closely followed by the Europe. Due to the presence of developed countries such as U.S., Canada, Germany, UK, and others coupled with increase in automation process by the mining companies on a large scale. Furthermore, favorable government policies for the worker safety and increase in productivity and efficiency are expected to drive the growth of mining automation market over the forecast period. Asia Pacific is expected to develop rapidly and expected to maintain its dominance over the forecast period owing to the presence of developing countries such as India, China and others. The presence of various mine across the regions coupled with increased adoption of automation in mines to eliminate the humans from hazardous operation. There is an increase in investment by the foreign companies on a large scale coupled with increase in digitization and globalization is expected to gain traction in the near future. Latin America, Africa and Middle East are closely expected to follow Asia Pacific in terms of growth due to the increase in mines and mining activities coupled with increased investment by the companies.
The regions covered in this Mining Automation market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Mining Automation market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 4.8 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||7.43%|
|Market Size Expected in 2028:||USD 7.92 Billion|
|Tables, Charts & Figures:||175|
|Key Players/Companies||Atlas Copco, Caterpillar, Hexagon, Autonomous Solution, Hitachi, MST (Mine Site Technologies), Sandvik, RPM Global Holdings, Komatsu, and Trimble among others.|
|Segments Covered||By Component, By Technique, By Application|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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