Automated Mining Equipment Market

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.

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.

Key Players Operating in the Global Market

Major players operating in the global automated mining equipment market include:

• ABB Australia Pty Ltd.
• AeroScout Ltd.
• Epiroc
• Caterpillar
• ivolve Pty Ltd.
• Komatsu Ltd.
• Matrikon
• 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
  • U.S.
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Russia & CIS
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • ASEAN
  • Rest of Asia Pacific
• South America
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa