Automated Mining Equipment: Introduction
- The mining industry is involved in extracting various minerals from the earth’s crust. The growth in mining has led to improvement in various aspects of the industry. Automated mining equipment are equipment which require very less human intervention and which help in increasing efficiency and productivity of mining operations.
- Automated driving equipment can be bifurcated into four types: remote control mining, driver assist, fully automated, and tele operated mining equipment. Remote control mining equipment refers to vehicles which are controlled by a remote. Driver assist includes an operator and the equipment is partly automated. On the hand, fully automated equipment eliminates human intervention and all critical operations are managed by robotic components.
- Tele operated mining equipment gives operators access to vehicles from a remote location. The vehicle can be operated even if the operator is not physically present at the site. This includes the use of cameras, sensors, positioning software, etc.
- Increasing mining activities and labor cost is expected to drive the global automated mining equipment market during the forecast period.
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Key Drivers and Opportunities of the Global Automated Mining Equipment Market
- Mines are located in remote locations and automation helps in better utilization of resources. Mining companies are keen on adopting automated equipment as it reduces labor cost and improves safety. Mining is vital since numerous products which are manufactured originate from the raw material which is extracted from the earth.
- Automated equipment provides significant benefits to the mining sector in terms of increased safety, increased productivity, lowered cost, better fuel efficiency, improved working conditions, reduced operator fatigue & attrition, etc. Automated mining equipment helps in overcoming labor shortage and also in reducing overhead cost.
- However, adoption of automated mining equipment on a large scale is projected to lead to elimination of many jobs. Workers in developing countries and underdeveloped communities whose survival is dependent on mining sites are likely to become jobless. Also, highly automated equipment require large investment which many companies cannot afford now due to market slowdown because of Covid-19.
- Mining companies are looking for technology which maintains the balance between cost and productivity. Manufacturers providing such technology are expected to have better business opportunity during the forecast period. The market due to the current pandemic is sluggish. Mining companies currently are likely to be reluctant to invest in new technology but may continue regular production with human labor.
- The automated mining equipment market is expected to witness growth from 2022 due to all these factors; the market is set to experience decline in growth till the second quarter of 2021.
Asia Pacific to Hold Major Share of the Global Automated Mining Equipment Market
- Geographically, the global automated mining equipment market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- Asia Pacific is expected to lead the global automated mining equipment market due to increasing manufacturing output and construction activities. China and India are anticipated to be the major countries contributing to this growth.
- Asia Pacific is likely to be followed by North America in terms of market share. The United States is one the largest coal producer in the region. Increasing global demand for minerals for various activities is set to drive the automated mining equipment market during the forecast period.
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Key Players Operating in the Global Market
Major players operating in the global automated mining equipment market include:
- ABB Australia Pty Ltd.
- AeroScout Ltd.
- Atlas Copco
- ivolve Pty Ltd.
- Komatsu Ltd.
- Sandvik AB
- Sick AG
- Strata Worldwide
Global Automated Mining Equipment Market: Research Scope
Global Automated Mining Equipment Market, by Technique
- Underground Mining
- Surface Mining
Global Automated Mining Equipment Market, by Type
- Mine automation software
- Mining equipment automation
- Remote control
- Tele operated mining equipment
- Driver assist
- Full automation
Global Automated Mining Equipment Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.