Report ID: IMA - 12 | Pages: 250+ | Dec-2024 | Formats*: PDF/Excel

Automated Equipment for Smart Mining Market Revenue, Size, Share & Opportunity Analysis Report By Application (Mining, Military, Oil & Gas, and Others), By Type (Excavators, Load Haul Dump, Drillers & Breakers, and Robotic Truck), By Region, And Segment Forecasts, 2023 – 2030


Automated Equipment for Smart Mining Market Size & Trend


The Global Automated Equipment for Smart Mining Market size was valued at USD 4,448.67 million in 2024. The market is projected to grow from USD 4,869.07 million in 2025 to USD 9,161.29 million by 2032, exhibiting a CAGR of 9.45% during the forecast period.


Market Definition & Introduction


The term "smart mining" describes the incorporation of cutting-edge technologies into mining operations, including automation, the Internet of Things (IoT), and artificial intelligence (AI). The goal of this change is to reduce the negative effects on the environment while increasing production, safety, and efficiency. In smart mining, automated equipment is essential since it substitutes autonomous machines for manual labour. These devices can function independently and carry out activities with accuracy and consistency since they are outfitted with sensors, cameras, and GPS systems. For instance, the AutoMine Surface Drilling System is an automated drilling system for surface mining operations that Sandvik unveiled in November 2023. A cutting-edge tele-remote technology called Providing for Underground Drills enables supervisors to remotely control and monitor many automated Sandvik underground drills at once, increasing mining operations' productivity, security, and efficiency.


Key Types of Automated Equipment in Smart Mining


Autonomous Haulage Trucks: These driverless trucks move materials between mining sites, maximizing routes and minimizing fuel consumption

Autonomous Drilling Rigs: These machines can drill holes for blasting or exploration on their own, increasing accuracy and lowering the possibility of human error

Remote-Controlled Excavators and Loaders: These machines can be operated from a safe distance, lowering the risk of accidents and operator fatigue

Autonomous Inspection Drones: These drones can inspect difficult-to-reach areas, monitor the condition of equipment, and identify potential hazards

AI-Powered Predictive Maintenance Systems: These systems use data analytics to anticipate equipment failures, enabling proactive maintenance and cutting downtime.


Market Drivers


A Rise in the Market for Metals and Minerals is Driving the Demand for Automated Equipment for Smart Mining Market.


The demand for minerals and metals is being driven by a number of factors, including the world's expanding urbanization, population growth, and shift to a more low-carbon economy. As the world's population grows, there is an increasing need for commodities like steel and concrete, which are necessary to build infrastructure. Because cities require a lot of metals and minerals for construction and infrastructure, urbanization also increases the demand for these resources. For example, according to the International Energy Agency, the demand for vehicle lithium-ion (Li-ion) batteries rose from about 330 GWh in 2021 to 550 GWh in 2022, a 65% rise. The main cause of this increase was the rise in sales of electric passenger cars, which had a 55% increase in new registrations in 2022 over 2021.


Market Trend


Growing Usage of Automation Expected to Boost the Demand in the Forecast Period.


Automation is being used more and more in the mining sector to improve safety, efficiency, and productivity, among other aspects. Automation can help reduce the amount of personnel exposed to hazardous conditions, including underground mines or poorly ventilated areas. Productivity can also be raised by automating repetitive or time-consuming processes. For example, without a human driver, autonomous haul trucks might transport ore from mines to processing plants. In March 2023, for example, Komatsu unveiled the Smartdozer, a bulldozer that can be equipped with a variety of sensors and automation technology.


COVID Impact on Automated Equipment for Smart Mining Market


Labour shortages brought on by the COVID-19 pandemic and trade restrictions have hurt business operations in the market for automated equipment for smart mining. However, the reopening of national borders helps to address logistical and transportation issues because stringent regulations are followed while transporting raw materials. To keep the money coming in, mining businesses concentrate on crucial software products that generate income, such as data operation and management software and safety and security systems. Mining companies can now invest in improved system integration and implementation services as well as support and maintenance services because of the pandemic's waning intensity.


Competitive Landscape


Prominent rivals in the market for automated equipment for smart mining are adding new products to their lineups. Additionally, they are expanding their global presence through strategies like partnerships, mergers, acquisitions, and collaborations.



Key Players


·        Copco

·        Komatsu Ltd.

·        ABB Ltd.

·        Caterpillar Inc.

·        Atlas Joy Global Inc.

·        Hitachi Construction Machinery

·        Cisco Systems Inc.

·        Alcatel-Lucent.

·        Outotec Oyj


Company Strategic Developments


In April 2023: Three distinct kinds of mobile mining solutions for miners globally were among the enhanced versions of Minerbase's ANTBOX that were introduced. Together, these series—A, L, and the most recent addition, T—offer a streamlined and expandable cryptocurrency mining technique. This approach boosts miners' profitability while reducing energy consumption.


In June 2023: Komatsu Ltd. purchased Mine Site Technologies, a manufacturer of technologies for mining operational efficiency. With this acquisition, Komatsu will be able to assist its customers in building digital ecosystems by offering real-time insights and alerts, voice and communication technologies, software solutions, a dependable network infrastructure, wireless and geospatial technologies, and software.


Segment Analysis


Automated Equipment for Smart Mining Market, by Product Type


The excavators segment is expected to dominate the automated equipment for the smart mining market. One can observe a wide variety of excavators in the mining areas, ranging in size from a skid to a massive earth mover the size of a skyscraper. These excavators form the foundation of any mining operation. When using hydraulics to dig and return the materials, excavators are crucial. Several companies sell two types of excavators: large excavators and wheeled excavators. The construction of these two kinds of excavators differs.


However, the load haul dump segment is expected to grow at the fastest CAGR during the forecast period. One of the main reasons for the load haul dump segment's dominance in the mining sector is its ability to automate procedures and offer remote control features. This technical advancement increases production by enabling employees to operate machinery from a distance securely. Consequently, potential risks and hazards are diminished. The incorporation of state-of-the-art sensors and real-time data processing further increases the consequences of the load haul dump segment.



Automated Equipment for Smart Mining Market, by Application


The Mining segment is expected to dominate the automated equipment for the smart mining market. Mining has a significant market share, and in light of the rising demand for metals and minerals, it is necessary to improve mining productivity and safety.


However, the Oil & Gas segment is expected to grow at the fastest CAGR during the forecast period. As technology continues to advance, we can expect to see even more sophisticated and integrated automated solutions in the mining and oil & gas industries, further driving innovation and sustainability.


Regional Analysis


According to InfoNest Market Analytics, the North American automated equipment for the smart mining market held a share of 28.97% in 2024. The US Environmental Protection Agency developed a graphic based on information from the Toxic Release Inventory to help people understand mining operations and associated TRI-reportable chemical discharges. Massive volumes of material are processed annually by the metal mining industry. Automated excavators may operate without human assistance by using sensors and cameras. Because it reduces the likelihood of accidents and allows excavators to operate throughout the clock, this can improve safety and efficiency. In conclusion, the market for automated equipment for smart mining in North America is flourishing because of the region's high mining activity.


The Asia Pacific automated equipment for smart mining market is expected to register the fastest CAGR of 11.20% during the forecast period of 2025-2032. As a result, governments and private enterprises are investing heavily in mining activities, which will pave the way for automation in the Asia Pacific mining sector. The Asia Pacific region is home to a number of leading mining companies, including BHP Billiton, Rio Tinto, and Glencore. These companies are investing heavily in automated equipment to improve the efficiency and safety of their operations.



Segmentation


Type Outlook (Revenue, USD Million, 2019-2032)


·        Excavators

·        Robotic Truck

·        Drillers & Breakers

·        Load Haul Dump


Applications Outlook (Revenue, USD Million, 2019-2032)


·        Mining

·        Oil & Gas

·        Military

·        Others


The Report Covers


Ø  Market Estimates and Forecast from 2019-2032

Ø  Growth Opportunity and Trend Analysis

Ø  Market Snapshot

Ø  Segment and Regional Revenue, Share, Trend Analysis

Ø  Competition Strategy, Acquisition and Merger Analysis, Company SWOT, and Company Market Share Analysis

Ø  COVID 19 Impact

Ø  Market Report in PDF, Interim in Excel, and PPT Version

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