The “Mining Automation Market” report gives a massive source to analyze the industry and other fundamental technicalities identifying with it. The examination discloses the total assessment and veritable parts of the Mining automation market. This study exhibits a straightforward outline of the industry, that integrates applications, blueprints, industry chain structure, and definitions. This report prepares a case for investments in different regions based on a practical view of their regulatory outline, manufacturing dynamics, and availability of skills and resources in that region.
The global mining automation market size is anticipated to reach USD 6.2 billion by 2025. It is also expected to register a 7.3% CAGR during the forecasted period, 2018 to 2025. The need for worker safety at mining sites coupled with the emergence of technologically advanced mining equipments is anticipated to drive the market growth.
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The equipment automation held a share of 35.0% across the global market and is expected to witness 7.5% CAGR in the upcoming years due to the development of several well-equipped vehicles like autonomous trucks, and mining equipments. The teleoperated mining equipment segment is also gaining popularity due to the emergence of equipments such as cameras, RFID (Radio Frequency Identification), and wireless sensors.
The metal mining segment of application dominated the global market with a share of 35.0% in 2017 due to the surging adoption of many autonomous solutions for carrying out metal exploration activities. On the other hand, the application segment of coal mining also witnessed substantial growth due to the surging need for improvement of quarrying conditions at coal sites.
The Asia Pacific is expected to dominate the global market from 2018 to 2025 and is projected to hold a share of around 40.0% across the globe owing to the surging adoption of automation technologies across countries like Australia. While, North America is also projected to register significant growth due to the availability of zinc, nickel, and lead across the mines located in the U.S. and Canada.
The market for mining automation includes key players such as Caterpillar, Inc.; Hexagon AB; Sandvik AB; Komatsu Ltd. These players are investing hugely in R&Ds to gain a competitive advantage over other players and to widen their product reach. Also, services related to retrofitting are being provided by these players to enhance their product and service offerings.
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