Global Mining Automation Market Share and Industry Forecast to 2024: Expected to Witness a CAGR of 6.9% - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 19, 2018--The “Global Mining Automation Market- Market Share and Industry Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.
Global mining automation market is expected to witness a CAGR of 6.9% over forecast period (2017-2024).
The improved demand for personnel’s safety in mining industries has boosted the demand of automated mining. Other than this, increasing mining production, need of improving productivity in mining and reduction in operating costs are also triggering the global mining automation market.
However, depletion of natural resources and high cost associated with the automated systems are the major restraints in the growth of global mining automation market.
Global mining automation market faces a serious challenge of integration information technology with operational technology. However, the market has various opportunities over the forecast period to counter the challenge. The opportunities include evolution of smart connected mines and growing digitization in mining operations.
Global mining automation market report covers segmentation that include technique, component and workflow. Further, technique segment has been bifurcated into underground mining and surface mining. Underground mining technique dominated the global mining automation in 2017 in terms of revenue. Majority of minerals are found under the earth’s crust and thus the underground mining techniques are adopted on an extensive note. On the basis of component, sub segments are equipment, software and communications systems.
Similarly, workflow segment covers sub segments that include mine development, mining process and mine maintenance. Mining process segment is expected to witness the fastest growth rate over the forecast period (2017-2024), mining process include autonomous haulage and autonomous drilling. Hauling activities need a huge capital and thus investors are interested in automation of these activities.
Automation in hauling process provides optimized productivity, efficient fuel consumption, reduced maintenance, lesser downtime and others.
Geographically, Asia Pacific held the dominant position in terms of revenue under mining automation market in 2017. The companies have started to adopt automated mining equipment that improves the productivity. The companies include BHP Billiton (Australia), FMG Group (Australia) and others. The surge in digitization and automation of mines in Asia Pacific have also attracted the investors.
Thus, Asia Pacific is expected to maintain its dominance over the forecast period (2017-2024). However, Europe is expected to witness substantial growth under mining automation market till 2024. Countries such as UK, Sweden and others are involved in mining industry at a considerable extent. In addition, presence of key players such as Sandvik (Sweden), Atlas Copco (Sweden), Hexagon (Sweden) and others strengthen the Europe mining automation market.
DriversIncreasing Need for Worker Safety in Mining Operations Increasing Mining Production Requirement for Improving Productivity in Mining Reduction in Operating Costs
RestraintsDepletion of Natural Resources High Cost of Automation
OpportunitiesEvolution of Smart Connected Mines Growing Digitization in Mining Operations
ChallengesIntegrating Information Technology with Operational Technology
Key Topics Covered1. Introduction
1.1. Executive Summary
1.2. Estimation Methodology
2. Market Overview
2.1. Global Mining Automation Market: Evolution & Transition
2.2. Market Definition & Scope
2.3. Industry Structure
2.4. Total Market Analysis
2.5. Estimation Analysis
2.6. Strategic Analysis
2.7. Competitive Analysis
2.8. Strategic Recommendations & Key Conclusions
3. Market Determinants
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
3.4. Market Challenges
4. Global Mining Automation Market By Technique
4.1. Market Definition And Scope
4.2. Decision Support Database & Estimation Methodology
4.3. Comparative Analysis Across Market Segments
4.4. Opportunity Matrix
4.5. Market Segmentation
5. Global Mining Automation Market By Component
5.1. Market Definition And Scope
5.2. Decision Support Database & Estimation Methodology
5.3. Comparative Analysis Across Market Segments
5.4. Opportunity Matrix
5.5. Market Segmentation
6. Global Mining Automation Market By Workflow
6.1. Market Definition And Scope
6.2. Decision Support Database & Estimation Methodology
6.3. Comparative Analysis Across Market Segments
6.4. Opportunity Matrix
6.5. Market Segmentation
7. Competitive Landscape
7.1. Key Strategies
8. Geographic Analysis
8.1. Decision Support Database & Estimation Methodology
8.2. Comparative Analysis Across Market Segments
8.3. Opportunity Matrix
8.4. Global Mining Automation Market By Region 2015-2024 ($ Million)
9. Company Profiles
9.1. Atlas Copco (Sweden)
9.2. Autonomous Solutions Inc. (U.S.)
9.3. Caterpillar (U.S.)
9.4. Fluidmesh Networks (U.S.)
9.5. Hexagon (Sweden)
9.6. Hitachi (Japan)
9.7. Komatsu Ltd. (Japan)
9.8. Micromine (Australia)
9.9. Mst Global (Australia)
9.10. Remote Control Technologies (Australia)
9.11. RPMglobal (Australia)
9.12. Sandvik Mining (Sweden)
9.13. Symboticware Incorporation (Canada)
9.14. Trimble (U.S.)
9.15. Volvo Group (Sweden)
For more information about this report visit https://www.researchandmarkets.com/research/r6cg4s/global_mining?w=4
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Related Topics:Mining,Industrial Automation
INDUSTRY KEYWORD: NATURAL RESOURCES MINING/MINERALS
SOURCE: Research and Markets
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PUB: 11/19/2018 07:29 AM/DISC: 11/19/2018 07:29 AM