Automated Mining Equipment Market worth USD 61.2 billion by 2027

The Market Statsville Group (MSG) publishes the new report on the "Automated Mining Equipment Market by Component (Hardware, Software, and Service), by Hardware (Excavators, Load Haul Dump, Robotic truck, Drillers and Breakers, and Other Equipment), by Region – Global Share and Forecast to 2027". By 2027, the global automated mining equipment market size is expected to grow USD 61.2 billion from USD 8.1 billion in 2020, growing at a CAGR of 40.1% during the forecast period. Mining automation is widely seen as an innovation that could alter the sector. Mining Global magazine rates autonomous mine infrastructure as the most significant revolution for mining. Further, the Australian company, Rio Tinto, is developing what it considers the future mine. Tie company aims to automate the critical mining components of drilling, haulage trucks, and long-distance railway systems. Automated mining technologies, for instance, require the government and the mining industry to consider the ability of efficiency gains to change the local mining communities. A study by the IISD (International Institute for Sustainable Development) forecasted that efficiency gains from automation might reduce the amount of money that the mines contribute to the revenue in the low and middle-income countries by up to USD 284 million per country.

Global Automated Mining Equipment Market Segmentation

The overall automated mining equipment market has been segmented into components, hardware, and region.

• By Component (Hardware, Software, and Service)
• By Hardware (Excavators, Load Haul Dump, Robotic Truck, Drillers and Breakers, and Other Equipment)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Excavators, by hardware, is estimated to hold the largest market share during the forecast period

Based on hardware, the global automated mining equipment market is segmented into excavators, load haul dump, robotic truck, drillers and breakers, and other equipment. The excavator's segment generated the highest revenue of 41.5% of the global automated mining equipment market in 2020, and it is expected to register a significant CAGR from 2021 to 2027. A wide variety of excavators can be seen in the mining fields, going from a skid’s size to a substantial building-sized earth mover. These excavators are used in the foundation of any mining operation. The excavators play a major role in digging and pulling back the materials with the use of hydraulics. Many firms offer excavators that can be classified into two categories: wheeled excavators and large excavators, with differences in their manufacturing processes.

Wheeled excavators are popularly used for multitasking and are designed to deliver the speed and power required for such tasks. Continuous modernizations in load management have enabled the creation of excavators with maximum digging capacities. The large excavators are solely designed for offering high power, speed, and fuel efficiency for bulk earthmoving and heavy-lifting applications in mining operations.

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North America accounts for the largest market share in the automated mining equipment market 2020

Based on the regions, the global automated mining equipment market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. North America accounted for the highest market share of 32.0% in the global automated mining equipment market in 2020 and was anticipated to maintain its dominance throughout the forecast period. North America is one of the major mining equipment markets, owing to the presence of the United States and Canada, which combinedly hold a significant amount the shares in the mining industry.

The US (United States) is one of the global leaders in the mining industry. According to the data produced by the US Geological Survey, the total value of nonfuel mineral production in the country. The US government has various rules and regulations that guide the mining industry to work without damaging the environment and providing safety to the workers involved. Furthermore, Canada is geographically endowed with natural resources. According to NRCan, the country holds the first position in potash production, the second position in diamond production and uranium, and the third position in aluminum production. Due to this, Canada's mining industry is among the primary users of such equipment. Komatsu's American subsidiary, Komatsu America Corp., announced that front-runner AHS (Autonomous Haulage System) has qualified to operate on private long-term evolution mobile broadband technology. It is the first AHS enabled to run on private long-term evolution in commercial operations, making way for ultra-high system availability and reliability while adhering to Komatsu’s renowned safety standards.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the automated mining equipment market. It also consists of leading companies such as Rockwell Automation Inc., Autonomous Solutions Inc., Trimble Inc., Hexagon B, ABB Ltd., Hitachi Ltd., Caterpillar Inc., Atlas Copco, AB Volvo, and Komatsu Ltd.

Browse complete report: https://www.marketstatsville.com/automated-mining-equipment-market

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