Mining Automation Market Highlights
Several enterprises are adopting automation to enhance productivity. Automated equipment requires high capital expenditure and can cost millions of dollars for design, fabrication, and installation, depending on the degree of automation. Many enterprises are expected to adopt industrial robots due to the trend of automation and innovative technological advancements. The global mining automation market size is growing at a significant rate and this trend is expected to continue during the forecast period. The key players operating in the global mining automation market size are heavily investing in acquiring the latest and advanced process control technologies from key players. Mining automation provides various services and solutions to increase product quality and quantity and reliability while reducing design and production costs by adopting new integrated services and solutions. Mining automation uses various components to have control of various operations of an industry without meaningful intervention from humans to provide automatic control performance. Emerson Electric Co. is a leading manufacturer of process control systems, valves, and analytical instruments. Emerson’s biggest advantage is its wide range of automation solutions and skilled workforce. Other companies are also providing a wide range of solutions related to automation, thereby contributing to generating high market value for the mining automation market.
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Key Players
The Key Players in the mining automation market are identified across all the major regions based on their country of origin, presence, recent key developments, product diversification, and industry expertise. Some of them are MST Global, ABB Limited, Komatsu Limited, Hexagon AB, Hitachi Limited, Trimble Inc, Rockwell Automation, Emerson Electric Co, Mitsubishi Electric Corporation, Schneider Electric SE, Wabtec Corporation, Honeywell International Inc, Siemens AG, Atlas Copco AB, Caterpillar Inc, Sandvik AB, Yokogawa Electric Corporation, among others. These players contribute significantly to market growth. Apart from the top key players, the other players contribute nearly 35–40% in the mining automation market.
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Segment Overview
By Offering
- Communication system
- Hardware
- Software
By Operations
- Development
- Maintenance
- Mining process
By Region
- Europe
- Asia pacific
- North America
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Regional Analysis
For the study of the mining automation market, several primaries and secondary research were conducted which helped us analyze the market for major regions such as North Americ, Europe, Asia-Pacific, and the rest of the world. Companies such as Kuka AG, Rockwell Automation, General Electric, and Mitsubishi Electric, having a huge customer base in each region and providing a wide portfolio for mining automation solutions helped us to understand that North America dominated the mining automation market, especially the US. The growth of the autonomous trucks and autonomous haulage and drilling segments and stringent government regulations regarding worker safety help boost the growth of mining automation in the country. In Canada, the increased adoption of industrial robotics, the adoption of automation in mining and water treatment, metals and mineral processing, and the presence of foreign developers of automation solutions operating from Canada help towards the growth of the mining automation market in Canada.
On the other hand, the Asia-Pacific region is expected to showcase the highest CAGR during the forecast period. Emerging economies such as China, India, and South Korea contribute highly towards the growth of the mining automation market. China is among the largest industrial robot market with a ratio of 68 industrial robots per 10,000 employees. The government of China is also favorable for the manufacturing of industrial robots with an increase in unit sales which indirectly increases the market for mining automation.