Global Mining Automation Market
With the emergence of internet of things (IoT) and with the increasing level of automation, mines and processing plants are producing more reliable and enhanced data. Advancement in information technology significantly helping in optimizing workflows and to save energy and reduce overall operation costs. Mining companies are showing stronger interest to use resources effectively, reducing waste and to increase overall plant productivity through automation, using fewer resources while achieving more. These trends and the strong minerals market have resulted in many projects for major players providing efficient automation solutions for mining across the globe. Moreover, rising need for more sophisticated technology as mines are getting deeper, being set up in remote locations has significantly fueled the demand for mining automation solutions around the world.
Goldstein Research analyst forecast the global mining automation market to grow at a CAGR of 11.4% during the period 2016-2024. Further, the global mining automation market is predicted to reach USD 4.3 billion by the end of forecast period.
Covered in this global mining automation market report
The report covers the present ground scenario and the future growth prospects of the global mining automation market for 2016-2024 along with the total revenue and market development status of mining automation in every region. We calculated the market size and revenue share on the basis of revenue generated from the each segments by major players in mining automation industry across the globe.
Global Mining Automation - Market Segmentation
Mining Automation Market, by Solutions
- Underground mining Solutions
- Surface mining Solutions
Mining Automation Market, by Automation Type
- Material Handling Equipment
- Grinding Solutions
- Electrical, control and instrumentation systems
- Communication Systems
Mining Automation, by Application
- Mine development
- Mining process
- Mine maintenance
Mining Automation, By Geography
- North America (US, Canada) Mining Automation Market
- Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) Mining Automation Market
- Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) Mining Automation Market
- Latin America (Brazil, Mexico and Rest of Latin America) Mining Automation Market
- Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) Mining Automation Market
On the basis of solutions, underground mining solutions dominated the global Mining automation market with more than 58% market share in 2016. The segment is projected to remain dominant over the forecast period, with CAGR of 12.4% over the forecast period.
Global Mining automation Market Outlook 2016-2024, has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the global mining automation market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global mining automation market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.
Our global mining automation market report comprises of the following companies as the key players in the global Mining automation market: ABB Group, Siemens AG, Autonomous Solutions Inc., RPMGlobal, Trimble, Fluidmesh Metworks, Mine Site Technologies, Atlas Copco, Caterpillar Inc., Hitachi, Sandvik Honeywell International Inc., Komatsu and Symboticware.
According to our global mining automation market study on the basis of extensive primary and secondary research, one of the major trend that driving the growth of mining automation market is focus of mining industry players towards new productivity gains. Mining industry leaders are continuously investing in innovation, from automation and enhanced drilling systems to data analytics and mobile technologies in order to achieve improved mining capacity whilst reducing capital and energy intensity.
According to the report, major driver in global mining automation market is rapid technological advancement in mining automation. For instance, autonomous vehicle and automated technologies has already revolutionized the mining operations and has successfully helped the mining industry in reducing labor cost and enhancing productivity of operations.
Further, the report states that one challenge in global mining automation market is threat from cyber-attacks. Cyber security is one of the major challenges in the implementation of autonomous solutions as IoT evolves and network connectivity extends the system will be more prone to corporate espionage, attempted blackmail campaigns or mischievous efforts by hacking autonomous vehicles.
Geographically, Asia Pacific region dominated the global mining automation market, accounted for more than 40% revenue share in global market owing to incorporation of automated solutions in mining industry by big market players. Asia Pacific region is anticipated to be the fastest growing mining automation market, which is likely to expand at a CAGR of 14.7% over the forecast period. African regions such as South Africa and Guinea among others provide immense opportunities for the growth of mining automation market as Africa is one of the largest mineral producing regions around the world, with the presence of world’s leading mining companies.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Key questions answered in this global mining automation market report
- What is the total market size by 2024 and what would be the expected growth rate of market?
- What is the total market penetration 2015-16 and what would be the expected demand of mining automation solutions over the forecast period?
- What are the key market trends?
- What are the factors which are driving this market?
- What are the major barriers to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities for the existing and entry level players?
- What are the recent developments and business strategy of the key players?
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