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Mining Automation Market Trends

Report ID: GMI8329
Published Date: Feb 2024
Report Format: PDF

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Mining Automation Market Trends

Growing advancements in battery technology and electric vehicle technology have made it increasingly feasible and cost-effective to develop battery electric vehicles for mining applications. Improved battery performance, energy efficiency, and charging infrastructure contribute to the growth of electric vehicles in the mining sector. Moreover, the emergence of digitalization is driving the market demand. The integration of digital technologies into various aspects of mining operations is transforming the way mining companies plan, execute, and optimize their processes.

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

The market size of mining automation was crossed USD 3.5 billion in 2023 and is anticipated to grow at over 8% CAGR between 2024 and 2032, due to the higher adoption of various software to enhance operational efficiency, safety, and regulatory compliance.

The underground type segment recorded over 50% share of the mining automation market in 2023 and will grow up to 2032, owing to the increasing regulatory scrutiny in the mining sector such as cost pressures, and the need to minimize environmental impacts.

Asia Pacific mining automation market size is anticipated to register over 11.5% CAGR from 2024 and 2032, due to the adoption of cutting-edge technologies and robust regulatory frameworks.

Few of the prominent mining automation firms are ABB, Caterpillar, Komatsu, Epiroc, Global Road Technology International Holdings (HK) Limited, Hitachi Construction Machinery Co., Ltd., and Sandviken.