Mining Automation Market Size Worth $8.6 Billion By 2030

The global mining automation market size was valued at USD 4.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.3% from 2022 to 2030.

The global Mining Automation Market size is expected to reach USD 8.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.3% from 2022 to 2030. The increasing demand for accuracy and productivity required during mining activities is the high impact rendering driver for the market. The growing adoption of the automated mining is attributed to the advantages associated with automated systems. For instance, in January 2022, Hexagon AB, one of the eminent players in digital reality solutions combining sensors, independent technology, and software programs, acquired Minnovare, one of the prominent players in drilling technology that enhances the cost, speed, and accuracy of drilling underground. The initiative aims to strengthen and accelerate Hexagon AB’s underground roadmap and strengthen the drill and blast portfolio.

The industry witnesses the adoption of drones as a step towards the evolution of unmanned and aerial data collection technology at mining sites. The automated drone system is poised to become an essential strategic part of the future of mining. For instance, in June 2020, Caterpillar Inc., a manufacturer in the construction, mining, and transportation sector, acquired Marble robots Inc, which operates as a robotic company that includes machinery for package delivery, prescriptions, and groceries. The initiative aims to expand Robotization and autonomy strategy and demonstrates its commitment to the coming generation of Jobsite results. Structure on its leadership in independent mining, the company plans to work and bring scalable results to meet the changing requirements of construction, chase, artificial, and waste diligence.

Additionally, the implementation of Geographic Information System (GIS) in mineral exploration activities has supplemented the market growth. GIS enables mining professionals to perform in-depth analysis and get insights on mineral mining, evaluate mining conditions, and display geochemical or hydrological data. The transition from conventional mining techniques to automation has negatively impacted the market. The incorporation of drones, autonomous machinery, and sensors has substantially affected the local employment at the mine sites. Moreover, skilled workers that specialize in handling remotely automated and controlled systems are expected to be in demand. For instance, in September 2021, ABB launched eMine, a fast and powerful truck charging that helps and diverts toward a zero-carbon mine, making an all-electric mine possible with electrification and a digital system. They also unveiled the piloting of the groundbreaking capability and gave FastCharge, one of the most crucial charging systems designed to affiliate with all makes of electric mining.

Furthermore, the upcoming concept in mining operations is the use of central or virtual control room that monitors several mines in distant sites from a single location. The virtual control room is expected to facilitate benchmarking and comparison of identical processes at different plants. For instance, in January 2022, Accenture, a services-based company that provides a wide range of services in interactive, strategy, and consulting technology and operations, collaborated with Celonis. This data processing company sells software as a service (SaaS) to enhance business processes, and it has formed a partnership to work in process mining. They both have to create an alliance to help the organization gain some insights through which they update and optimize their business process. Accenture has set Celonis’ data-driven operation and capabilities into its tools and platforms to give new situations and insights to inform decision-making.

Related Press Release@ Mining Automation Market Report

Mining Automation Market Report Highlights

• The equipment automation solution segment is expected to witness a CAGR of over 7.5% over the forecast period. Retrofitting the mining equipment with automated technology is expected to substantially contribute to segment growth
• The autonomous trucks are expected to dominate the market over the forecast period. Increased deployment of autonomous trucks at the mining sites to increase productivity and safety of the workers is expected to keep the segment buoyant
• The metal mining application segment is expected to witness a CAGR of over 6.9% over the forecast period. Increased gold exploration activities globally are expected to account for segment growth

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