The global mining automation market size is
expected to reach USD 6.2 billion by 2025 at a CAGR of 7.3% during the forecast
period, according to a report by Grand View Research, Inc. Increasing need to
enhance accuracy and productivity of mining operations is expected to drive
market growth.
Need for optimizing
production costs, reducing human intervention, and changing the mining
landscape are key growth-driving factors for the market. Increasing investment
in digital technologies, including analytics and human-machine interactions, is
also expected to be one of the key factors boosting industry growth.
Furthermore, complex stages involved in supply chain activities and growing
sophistication in mining operations are driving the need for automation and
robotics technology in this sector.
Growing automation has
led to adoption of drones as a step toward the evolution of unmanned and aerial
data collection technology in mines. Automated drone systems are expected to
become an essential technology in future mining automation and digitization
activities.
Several companies such
as Tata Steel, Rio Tinto Group, and Komatsu Ltd. are the early adopters of drone
technology. Usage of these systems enables quick data collection by enhancing
accuracy in designing mine plans and making necessary changes, thereby boosting
operational productivity.
Changing mining
landscape across the globe along with dependence on specific technologies is
expected to create growth opportunities over the next few years. Such changes
in operations are challenging the viability of traditional exploration and
drilling technologies and processes, thereby providing opportunities for the adoption
of new technologies.
Rising need for
Geographic Information Systems (GIS) in mineral exploration activities has
boosted market growth. GIS enables professionals to perform in-depth analysis
of insights related to mineral exploration, mining conditions, and geochemical
or hydrological data.
Several economies
including India, Africa, and Brazil lack the potential for growth owing to use
of conventional exploration techniques and equipment. Increased need for
exploration in these economies with the adoption of advanced technologies is
expected to accelerate demand for automated solutions over the forecast period.
Rising investments and
government support, along with ongoing initiatives such as Digital
Transformation Initiative (DFT) for a digital transition in the mining sector,
would significantly boost the adoption of automated solutions. For instance, in
2017, the Government of Australia announced its plans to invest approximately
USD 79 million to encourage medium- and small-sized miners to carry out exploration
activities.
Further key findings from the report suggest:
· The equipment automation segment is
projected to expand at a CAGR of 7.5% over the forecast period. Retrofitting
existing equipment with automated technology is expected to substantially
contribute to segment growth
· The autonomous trucks sub-segment is
expected to dominate the equipment automation segment over the forecast period,
on account of their increased deployment to boost productivity and safety
· The metal mining application segment is
expected to grow at a significant rate over the forecast period, which can be
attributed to increased gold exploration activities globally
· The revenue share of Asia Pacific is
expected to surpass 40.0% by 2025, owing to growing penetration of automation
solutions in economies including Australia and India
· Prominent market players include Rockwell
Automation, Inc.; Komatsu Ltd.; Rio Tinto Group; and Caterpillar Inc.
· Increased investments in developing
automated solutions by either launching new products or retrofitting existing
equipment are some of the growth strategies adopted by key players..
Grand View Research has
segmented the global mining automation market on the basis of solution,
application, and region:
Mining Automation Solution Outlook (Revenue, USD Million,
2014 - 2025)
·
Software Automation
·
Services
o
Implementation and Maintenance Services
o
Training Services
o
Consulting Services
·
Equipment Automation
o
Autonomous Trucks
o
Remote Control Equipment
o
Teleoperated Mining Equipment
Mining Automation Application Outlook (Revenue, USD
Million, 2014 - 2025)
·
Metal Mining
·
Mineral Mining
·
Coal Mining
Mining Automation Regional Outlook (Revenue, USD Million,
2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
U.K.
·
Asia Pacific
o
China
o
India
o
Japan
o
Australia
·
Latin America
o
Brazil
o
Mexico
·
MEA
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
