Metal Mining
Report ID:
SQMIG15J2051 |
Region:
Global |
Published Date: March, 2024
Pages:
184
|
Tables:
64 |
Figures:
75
The rapid growth of technology, including Artificial Intelligence (AI) and robots, has resulted in a greater use of mining automation solutions to increase production efficiency. The increasing trend of incorporating cutting-edge technologies is driving the growth of automated mining solutions. The rise of the World Wide Web of Things (IoT) in this industry provides mine management access to real-time data and analytics via visualization tools. Several operators have teamed up with technology firms to build underground wireless networks.
For instance, International Business Machines, Inc. (IBM) declared its purchase of myInvenio, an Italian startup company, in April 2021. The company creates and runs process mining software. The goal of the collaboration is to include MyInvenio's process & task mining technologies into the IBM Cloud enabling Robotization, an environment for organizing and conducting robotization activities. The based-on data software and tools will assist the organization track sales, production, buying, and accounting. The growing demand for mining and worker security is driving industry expansion. Previously, traditional mining procedures jeopardized mine workers' safety, resulting in increasing risks on the mining site.
As a result, providers have developed intelligent mining systems and equipment to assure worker safety. ABB, for example, will launch the ABB Capability safety plus, a mine hoist suite, in November 2020. It is the mining industry's first fully independently approved Safety Truth Level 3 (SIL 3), and it's very particular and rare for risk mitigation as well as dangers for mine hoist solutions with proper security by providing three remedies: safety plus stop system, security plus hoist monitor, as well as safety plus raise protector. The effort attempts to make mining environments safer for people and equipment.
Largest Segment
Metal Mining
Fastest Growth
Metal Mining
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The global mining automation market is segmented based on solution, application, and region. Based on solution the market is segmented into solution, software automation, services, equipment automation. Based on application, the market is segmented into metal mining, mineral mining, coal mining. Based on region, the global mining automation market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Mining Automation Market Analysis by Solution
The software automation category dominated the market, accounting for more than 42.10% of worldwide revenue. Furthermore, over the anticipated period, the equipment automation category is expected to increase significantly. The segment's expansion is likely to be fueled by the creation of robust technologically driven vehicles such as self-driving trucks, handheld equipment, & teleoperated mining equipment. Rapid advances in hardware automation technologies are projected to continue to simplify the way large-scale mining is carried out around the world.
Rio Tinto is a mining and metals corporation established in the United Kingdom that produces copper, substances, iron ore, and aluminum. It has deployed roughly 400 haul trucks equipped with Automated Haulage Systems (AHS) at the Samar mine in Australia. Furthermore, the business plans to expand its autonomous vehicle programmed by equipping Caterpillar Inc. vehicles and 29 Mitsubishi Ltd. haul trucks for the Brockman 4 mining functioning, allowing the facility to operate totally autonomously. Furthermore, cordless cameras, sensors, and RFID (Radio Frequency Identification) materials have arisen as widespread applications in the mining business.
Wireless technologies have moved to instrument and device networks for effective monitoring and handling of assets strategies. The programme intends to assist manufacturing services with efficiency, high precision tracking, and safety measures that will assist them under difficult conditions. Minetec enables Caterpillar Inc. surveillance in real-time and mining operations regulators, allowing miners to visualize the entire mine to optimize productivity and safety.
Mining Automation Market Analysis by Industry Vertical
The mineral mining sector led the market in 2022, accounting for more than 34.85% of worldwide revenue. The metal mine application is expected to increase significantly during the projection period. The rising use of automated technology in metal prospecting activities can be related to the expansion. Furthermore, increased application industry demand for metals such as the metal copper, zinc, lead, & nickel is predicted to add to revenue growth. Furthermore, to satisfy the increased need for base metals, the metal mining industry saw a surge in demand for automated solutions.
The Commonwealth Science and Industrial Research Organization (CSIRO) has collaborated with the Australian coal sector to create an underground automated system that protects workers from mining hazards and increasing production. For example, in April 2021, IBM, an international technology company that provides cloud-based services & produces and sells computer software and hardware, announced a cooperation with Celonis. This data processing firm offers SaaS to improve corporate processes. The initiative's goal is to improve procedure mining tools and find gaps in business processes. The programme will assist in the correction of any business process, such as finance, supply chain, human resources, or customer experience, allowing them to understand exactly what their operations are performing and make necessary modifications.
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Asia Pacific dominated the industry, accounting for more than 39.75% of total sales in 2022. The regional market is expected to be driven by the usage of automation technology throughout Australia. The Australian economy is witnessing the deployment of robots & remote-controlled machinery for the safe and effective exploitation of resources. Untapped drilling & exploration potential in nations such as China and India are likely to present significant growth prospects during the projection period. Sandvik AB, for example, purchased Deswik, an Australian business that provides mining-integrated software & consulting solutions, in 2022.
It consists of operations planning, mining managing information, computer-aided 3D mine designs, & geological mapping. The programme attempts to bridge a value chain gap between the mining sector & Rock Solutions' offering. Owing to the great growth potential of the United States and Canada, North America is predicted to be an exciting region. Mines in Alberta, Canada, have employed Komatsu Ltd. autonomous haul trucks to excavate and transport oil sands for processing into crude oil. Furthermore, with increased government initiatives in Africa, opportunities for exploration of mineral resources, & infrastructure are expanding in the MEA region.
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Mining Automation Market Drivers
Increasing Focus on Safety
Mining Automation Market Restraints
High Initial Investment
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The players are focused on providing autonomous solutions that improve both cost and efficiency in mining operations. The suppliers are expanding their product offerings by including tele-remote functioning, AHS, and ADS solutions. Multiple suppliers are either retrofitting self-driving technology into their current inventory of equipment or developing a new line of autonomous products to establish a foothold in the industry. Caterpillar Inc. & Komatsu Ltd. now have autonomous truck lineups, whilst Rio Tinto Group has converted 19 Cat 793F mining tractors for autonomous operations.
Caterpillar Inc. has also deployed Cat Command for Hauling software for the operation of the driverless fleet. For example, in April 2022, Microsoft purchased Minit, one of the leading providers in procedure mining technology that assists businesses in transforming the way they analyze, manage, and optimize their processes. The programme seeks to increase process mining through automation, assisting clients in digitally transforming and driving functional excellence by establishing a complete image of their company's procedures, allowing every function to be smoothly and automatically analyzed and refined.
Top Player’s Company Profiles
Recent Developments
In March 2024, Sandvik received a major order from Codelco, the world's largest copper producer, to supply a AutoMineload and haul automation system, for use in the new Andesita project at the El Teniente mine in Chile. The order is valued at approximately $39.9 million (SEK300 million).
In February 2024, RCT’s agnostic machine control had been deployed on site to transform loader operations at Barminco’s Nova Mine in Western Australia.
In January 2024, mindzie, inc., a leading provider of Generative AI-Driven process mining and business process optimization software, announced the launch of a revolutionary new feature: integration with Python, the world’s most popular programming language.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global mining automation market analysis, the rapid growth of technology, including Artificial Intelligence (AI) and robots, has resulted in a greater use of mining automation solutions to increase production efficiency. The increasing trend of incorporating cutting-edge technologies is driving the growth of automated mining solutions. The rise of the World Wide Web of Things (IoT) in this industry provides mine management access to real-time data and analytics via visualization tools. Several operators have teamed up with technology firms to build underground wireless networks.
Report Metric | Details |
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Market size value in 2031 | |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Executive Summary
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For the Global Mining Automation Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Mining Automation Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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