1. Market Research
  2. > Mining and Quarrying Market Trends
Automated Mining Equipment Market - Growth, Trends, and Forecast (2019-2024)

Automated Mining Equipment Market - Growth, Trends, and Forecast (2019-2024)

  • September 2019
  • 102 pages
  • ID: 5821476
  • Format: PDF
  • By Mordor Intelligence LLP

Summary

Table of Contents

Search Inside

Market Overview
The Automated Mining Equipment Market is expected to grow at a CAGR of 7.21% during the forecast period. The need for optimization of production costs, need to reduce human intervention at specific points of the operations, and changing the mining landscape will remain the key growth-driving factors for the market.

- Mining is a composite industry. Extracting raw material of different shapes, sizes, and chemical compositions from the earth’s crust and transforming it into a standardized and high-quality final product is a challenging process and has pushed the industry to opt for solutions that improve its efficiency and productivity. Typically mines are located in remote areas and adopting automation helps in resource utilization in a better manner.
- Automation plays an indispensable role in the mining industry to achieve such strategic goals. However, for the majority of those in the mining industry, automation is a much more comprehensive concept than regulative systems, supervision, and instrumentation. Automation can cover the geological/geographical information systems software to autonomous machines and from mine execution software to optimization or expert systems.
- Mining companies, worldwide, are swiftly utilizing technological developments to use their investments in equipment and human resources better to improve safety. For example, in four of Rio Tinto’s iron-ore mines, in Australia, the company has been using 73 driverless trucks to haul iron ore 24 hours a day. The employees oversee the vehicles’ operation from 750 miles away, at Rio Tinto’s centralized control center in Perth.

Scope of the Report
Automated mining is the process of removal of human labor from mining. Driverless trucks, Conductorless trains in addition to extensive use of cell phone networks to run mines are some of the autonomous technologies that are being deployed at the mines, driving efficiency, and changing the way the mining industry operates.

Key Market Trends
Growing Concerns for Increasing Productivity and Improving Workers’ Safety

- Mining companies across the world are rapidly adopting the latest automation technologies, to modernize their operations. Automation is also providing significant benefits to this sector, such as lowering costs, driving productivity, and increasing safety.
- The most advanced "miners" perform several technological processes, such as drilling and transportation of raw materials, with the use of robotics.
- Companies that make use of automated mining technologies are anticipated to witness an immediate and significantly increased production as well as reduced expenses. Some companies have witnessed a production growth between 15% and 20%, after adopting new technologies.
- For instance, Boliden is one of the most successful mining companies in the world, with firm productivity and stock market performance. It has eight mines, and one of them, Aitik, located in the north of Sweden, is the largest open-pit mine in Europe. The company installed a Wi-Fi communication system to enable the use of drill rigs in Aitik. Through this, the company aims to increase its annual production of 36 million metric ton of ore, to 45 million metric ton.
- Further, according to National Association of Software and Services Companies (NASSCOM) of India automation will drive the IoT Manufacturing spending worldwide by 2020 with Robotics and Mining Equipment Subsystems among the highest produced material in the world. This reflects the growing need for safety through automation in this industry.

Asia is Expected to hold the Largest Market Share

- China will continue to be the largest national market for automated mining equipment. Rapid increases in manufacturing output in addition to construction activity in the country and government efforts to boost the mechanization of China’s mines are expected to maintain its growth above the world average though it is expected to remain sluggish by its own standards.
- World’s tungsten market is dominated by China, as the country is well endowed with the mineral. According to USGS, due to its environmental concerns, the country has regulated its tungsten industry via limiting the number of mining and export licenses, quotas have been imposed on concentrate production and placing constraints on mining and processing.
- Apart from these minerals, China stood at number one position in the production of gold during the fiscal year 2018. The country accounted for 12% of the global production. The country is among the leaders in the production of other minerals, such as iron ore, and it is expected to drive the market for mining equipment.
- Although it will continue to be a much smaller market than China, India is expected record the fastest gains as there is still a significant need for mine mechanization. Mining output growth in India is also expected to be among the strongest in the world.

Competitive Landscape
The Automated Mining Equipment remains a consolidated market with a few major players owning major share of the market. However, with the overall size of the market expanding the market is attracting new players like Volvo which have actively entered the market only recently. With the European market expected to open up in the future, several players could enter the market.

- August 2019 - Autonomous Solutions Inc. introduced a new GPS-denied navigation solution, for vehicle positioning. The system has been tested in underground mining, where the automation technologies deployed in surface mines need only an alternative positioning system to make them feasible underground.
- June 2019 - Hexagon’s Mining division announced the introduction of HxGN MineOperate Reverse Assist, a high-precision positioning application that guides truck operators with optimum reversing path.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client’s requirements
- 3 months of analyst support

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
10% Off

($4250)

  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers
Body Control Module Market by Functionality, Component, MCU Bit Size, Communication Protocol, Power Distribution Component, Vehicle, Electric Vehicle And Region - Global Forecast to 2027

Body Control Module Market by Functionality, Component, MCU Bit Size, Communication Protocol, Power Distribution Component, Vehicle, Electric Vehicle And Region - Global Forecast to 2027

  • $ 4950
  • October 2019

Advent of body control functions and increasing mid-size and luxury vehicle production are anticipated to trigger the growth of the body control module market.The global body control module market is projected ...

IDC FutureScape: Worldwide Mining 2020 Predictions

IDC FutureScape: Worldwide Mining 2020 Predictions

  • $ 4500
  • October 2019

This IDC study contains the outlook of IDC Energy Insights' analyst team for the worldwide mining industry for 2020-2025. The outlook is presented through the lens of the 10 predictions that make up, in ...

Analysis of Global Mining Chemicals Market, Forecast to 2025

Analysis of Global Mining Chemicals Market, Forecast to 2025

  • $ 4950
  • October 2019

Grinding aids, flocculants, mining collectors, solvent extractants, and frothers are the key mining chemicals used in mineral processing of ores of various minerals which are mined worldwide.Ore processing ...

Global Mining Automation Industry $ 4950 October 2019


ref:plp2019

Reportlinker.com © Copyright 2020. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on