Mining Automation Market to Witness Double-Digit Growth: Key Drivers and Challenges

Mining Automation Market Growth

Mining Automation Market Expected to Reach $3,810 Million, Globally, by 2023

WILMINGTON, DE, UNITED STATES, December 11, 2024 /EINPresswire.com/ — Allied Market Research, titled, Global Mining Automation Market by Technique and Type: Global Opportunities Analysis and Industry Forecast, 2017-2023, the mining automation market was valued at $2,193 million in 2016, and is projected to reach $3,810 million by 2023, growing at a CAGR of 7.9% from 2017 to 2023.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂: https://www.alliedmarketresearch.com/request-sample/4591

Mining automation involves the use of process and software automation, and the incorporation of robotic technology in mining vehicles and automation. In 2016, the underground mining segment dominated the market, in terms of revenue, due to an increase in investment in automation and infrastructure.

Asia-Pacific was the highest revenue contributor to the golf cart market in 2016, accounting for around 31.41% share, owing to a surge in demand for mobility for automation and an increase in transition from manual work to automated work.

The report features a competitive scenario of the mining automation market and provides a comprehensive analysis of key growth strategies adopted by major players. Key players operating in the global mining automation market include Autonomous Solution Inc., Atlas Copco, Caterpillar, Hexagon, Hitachi, Komatsu Ltd., Mine Site Technologies, RPMGlobal Holdings Ltd., Sandvik AB, and Trimble. These players have adopted competitive strategies such as innovation, new product development, and market expansion to boost the growth of the market.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/4591

𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐢𝐧 𝐭𝐡𝐞 𝐍𝐞𝐞𝐝 𝐟𝐨𝐫 𝐖𝐨𝐫𝐤𝐞𝐫 𝐒𝐚𝐟𝐞𝐭𝐲
Working in underground mines is considered to be extremely hazardous due to the potential dangers such as lack of proper ventilation, exposure to toxic gases, and adverse health effects. This concern derived from the need for advanced mining equipment for underground mining techniques to safeguard mine workers, which majorly drives the market.

𝐑𝐞𝐝𝐮𝐜𝐭𝐢𝐨𝐧 𝐢𝐧 𝐎𝐩𝐞𝐫𝐚𝐭𝐢𝐧𝐠 𝐂𝐨𝐬𝐭
Automated mining involves the removal of manual labor from the mining process. Further, the reduction in time needed to travel through the mine during the shift reduces the overall cost involved in the mining process which drives the market growth.

𝐀𝐛𝐬𝐞𝐧𝐜𝐞 𝐨𝐟 𝐡𝐢𝐠𝐡-𝐬𝐤𝐢𝐥𝐥𝐞𝐝 𝐚𝐧𝐝 𝐐𝐮𝐚𝐥𝐢𝐟𝐢𝐞𝐝 𝐋𝐚𝐛𝐨𝐫
The adoption of mining automation involves the requirement of highly skilled and qualified laborers at the mine site. The lack of required personnel to operate the technology is the major backdrop. The absence of such a required workforce acts as a major restraint for market growth.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/4591

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐌𝐢𝐧𝐢𝐧𝐠 𝐀𝐮𝐭𝐨𝐦𝐚𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭:

– The underground mining segment accounted for the highest share in 2016.
– The equipment segment generated the highest revenue in 2016.
– Asia-Pacific is expected to dominate the market, in terms of market share, during the forecast period.

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on analyzing high-tech and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use various tools and techniques when gathering and analyzing data, including patented data sources.

David Correa
Allied Market Research
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