Mining Automation Industry Overview
The global mining automation market size is expected to reach USD 8.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.3% from 2022 to 2030. The increasing demand for accuracy and productivity required during mining activities is the high impact rendering driver for the market. The growing adoption of the automated mining is attributed to the advantages associated with automated systems. For instance, in January 2022, Hexagon AB, one of the eminent players in digital reality solutions combining sensors, independent technology, and software programs, acquired Minnovare, one of the prominent players in drilling technology that enhances the cost, speed, and accuracy of drilling underground. The initiative aims to strengthen and accelerate Hexagon AB’s underground roadmap and strengthen the drill and blast portfolio.
Mining Automation Market Segmentation
Grand View Research has segmented the global mining automation market based on solution, application, and region:
Based on Solution Insights, the market is segmented into Software automation, Services and Equipment automation.
- The software automation segment dominated the market for mining automation and accounted for a revenue share of more than 42.0% in 2021. Further, the equipment automation segment is expected to show significant growth over the forecasted period.
- The development of robust technology-based vehicles such as autonomous trucks, remote control equipment, and teleoperated mining equipment is expected to fuel the segment growth. Rapid advancements in hardware automation technology are expected to persistently streamline the way large-scale mining is undertaken across the globe.
Based on the Application Insights, the market is segmented into Metal mining, Mineral mining and Coal mining.
- The mineral mining segment dominated the market for mining automation and accounted for a revenue share of more than 33.0% in 2021. The metal mining application is presumed to show significant growth over the forecast period. The segment accounted for a revenue share of over 30.0% in 2021.
- The growth can be attributed to the increased convention of autonomous technology in metal exploration activities. Moreover, the rising demand for metals such as copper, zinc, lead, and nickel by consuming industries is expected to contribute to revenue growth. Furthermore, metal mining witnessed a surging demand for automated solutions to meet the rising demand for base metals.
- In February 2022, UltimateSuite, a SaaS company, provided Task Mining results for automated business process analysis. Announced the launch of Robotic Process mining software on their platform to improve task discovery.
- The coal mining segment is expected to show a significant share in the market for mining automation. The increasing need to improve the mining conditions at coal sites has contributed to the deployment of autonomous solutions at the site.
Mining Automation Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The increased focus of players is to offer autonomous solutions that provide benefits such as productivity and cost-efficiency in the mining operations. The providers are offering products with the tele-remote operation, AHS, and ADS solutions thereby enhancing their product offering. Several providers are either retrofitting autonomous technology in their existing line of equipment or are introducing a new line of automated machines to gain a foothold on the market.
Some prominent players in the Global Mining Automation market include:
- Atlas Copco AB
- Autonomous Solutions Inc.
- Caterpillar Inc.
- Hexagon AB
- Hitachi Construction Machinery Co., Ltd
- Komatsu Ltd.
- Rio Tinto
- Rockwell Automation, Inc.
- Sandvik AB
- Siemens
Order a free sample PDF of the Mining Automation Market Intelligence Study, published by Grand View Research.
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