Mining Automation Market 2023 - Accenture, CISCO Systems, Coldeco, Honeywell and Volvo Group

Albany, NY, 24th June : Recent research and the current scenario as well as future market potential of "Mining Automation: Technologies and Global Markets".

The global mining industry currently sits at a transition point. After enduring multiple years of low commodity prices, the industry has had to turn substantially toward cost reductions and increases in efficiency to stay afloat and remain profitable. As a result, the industry is strongly interested in technologies, systems and other solutions that increase the efficiency and efficacy of mining operations while reducing costs. An upturn in commodity prices in 2017 and 2018 released some of this pressure. Mining managers are now able to play catch-up and replace aging equipment, satisfying pent-up demand for this equipment caused by limited capital availability in recent years. Mining companies
continue to seek new means to reduce costs and bolster profitability in the face of uncertain commodity price futures.

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The upturn in commodity markets that began in 2017 and continued into early 2018 is finally unlocking mining equipment replacements across the industry. This uptick in capital availability corresponds to the availability of a suite of new technologies that enable increased productivity, significant labor cost reductions, enhanced safety and improved performance. Mining automation technologies and equipment directly support these benefits to the industry. Estimates abound regarding the level of labor cost savings that could be achieved in the industry. Mining automation can also remove significant safety concerns. Operators can now run mining equipment from the safety of an on-site or even a
remote office building and control room rather than in hazardous underground mines. These operators can often operate two or more pieces of equipment simultaneously, further reducing labor costs. Fully automated systems ultimately promise to drive even further gains in efficiency and eliminate worker safety concerns for equipment operators.

The summary table and figure provide an overview of market values in the global automated mining technology industry for 2017 and 2018, and then projected through 2023. The market is already experiencing significant growth, and it is poised for exceptionally strong growth within the study period. Mining automation technologies are rapidly pressing into the overall mining equipment market, an industry that carries annual revenues well above $REDACTED billion per year. Automated mining equipment still represents only a small fraction of this overall market, but it is uniquely poised for rapid growth as automated technologies and systems penetrate into and ultimately overtake the overall mining equipment market.

Based on the information and data collected in support of this study, the overall global mining automation equipment achieved an annual turnover of $REDACTED billion in 2017. By the end of 2018, market values will reach $REDACTED billion, as mining companies execute the replacement of aging equipment that they have been nursing along for several years, much of it past its typical useful lifespan. By the end of 2023, global markets will reach $REDACTED billion, achieving an exceptionally rapid compound annual growth rate (CAGR) of REDACTED. At the technology level, markets for overburden removal equipment plus ore extraction equipment will advance from $REDACTED billion in 2018 to $REDACTED billion in 2023 for a CAGR of REDACTED. Markets for ore transport, crushing and sorting, along with automated mining controls, will collectively advance from $REDACTED billion to $REDACTED billion for a CAGR of REDACTED. The full report also contains additional breakdowns by region and select countries (North America: the U.S., Canada; Europe: Germany, the U.K., France, Italy, Rest of Europe; Asia-Pacific: China, India, Australia, Indonesia and Rest of Australia; and South America: Brazil, Argentina, Rest of South America), five technology categories (i.e., overburden removal equipment, ore extraction equipment, ore transport equipment, crushing and sorting equipment, and automated mining controls), and four applications categories (i.e., remote control mining technologies, driver-assist systems, teleoperated mining technologies, fully automated mining technologies).

Report Scope:

The scope of this report includes the market for mining automation technologies focused on specific technology categories and systems -
- Overburden removal and tunneling.
- Ore extraction, ore transport, crushing and sorting.
- Automated mining controls.

The study also considers -
- Remote control mining technologies.
- Driver-assist systems.
- Teleoperated mining technologies.
- Fully automated mining technologies.

Market breakdowns are provided at these category levels within the report. Tables provide additional information regarding the types of equipment included in each category, as applicable. The study considers surface and underground mining, but it does not consider in situ leach mining or fluid extraction, such as petroleum or natural gas extraction.

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Report Includes:

- 53 data tables and 53 additional tables
- An overview of the global market for mining automation and technologies
- Analyses of global market trends, with data from 2017 and 2018, and projections of compound annual growth rates (CAGRs) through 2023
- In-depth analysis of major mining automation equipment technologies
- Analyses of the market by automated equipment, sensors, and applications
- Focus on rapid growth segments within the overall mining equipment industry
- Coverage of the industry structure, including major end users and trends in price and price-performance
- Company profiles of major equipment manufacturers in the market including Accenture, CISCO Systems, Coldeco, Honeywell and Volvo Group

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