Nov 1 2017
The "Mining Automation Market by Technique, Type (Equipment, Software, Communications System), Equipment (Autonomous Hauling/Mining Trucks, Autonomous Drilling Rigs, Underground LHD Loaders, Tunneling Equipment) and Region - Global Forecast to 2023" report has been added to Research and Markets' offering.
The mining automation market is expected to grow from USD 2.22 Billion in 2017 to reach USD 3.29 Billion by 2023, at a CAGR of 6.77% between 2017 and 2023.
Key factors driving the growth of the mining automation include the increasing need for worker safety, the growing requirement for improving productivity, and the reduction in operating costs. However, the depletion of natural resources is a major restraining factor for the growth of the market.
Based on technique, the underground mining segment of the mining automation market is estimated to grow at the highest CAGR between 2017 and 2023. Underground miners have a high occupational risk. They have to face hazardous and life-threatening events such as collapse, flood, and release 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 miner during mining operations. The increasing demand for automated mining equipment for underground operations is driving the underground mining automation market.
Based on type, the equipment segment is expected to account for the largest share of the mining automation market during the forecast period. Key factors such as the growing need for mine safety, increasing productivity, and controlling cost are driving the demand for advanced autonomous mining equipment.
Companies Mentioned
- Atlas Copco
- Autonomous Solutions Inc.
- Caterpillar
- Fluidmesh Networks
- Hexagon
- Hitachi
- Komatsu
- Micromine
- MST Global
- Remote Control Technologies
- Rpmglobal
- Sandvik
- Symboticware
- Trimble
- Volvo Group
Source: https://www.researchandmarkets.com/