The Mining Automation Market is estimated to witness significant growth between 2017 and 2023. Mining Automation Market report contains the top corporate profiles and strategies with industry analysis and trends. The Mining Automation Market is growing and the experts have predicted the future stats of Mining Automation.
The complete report of Mining Automation Market by Technique, Type (Equipment, Software, Communications System), Equipment (Autonomous Hauling/Mining Trucks, Autonomous Drilling Rigs, Underground LHD Loaders, Tunneling Equipment) and Region - Global Forecast to 2023 is now available on www.rnrmarketresearch.com/mining-a…rket-report.html
The mining automation market valued at USD 2.22 billion in 2017 is expected to reach USD 3.29 billion by 2023, at a CAGR of 6.77% between 2017 and 2023. Key factors driving the growth of the mining automation include the increasing need for worker safety, the growing requirement for improving productivity, and the reduction in operating costs.
However, the depletion of natural resources is a major restraining factor for the growth of the market.
Based on technique, the underground mining segment of the mining automation market is estimated to grow at the highest CAGR between 2017 and 2023.
Underground miners have a high occupational risk. They have to face hazardous and life-threatening events such as collapse, flood, and release a tremendous amount of toxic gases while working in underground sites.
Stringent regulations have forced mining companies to invest in advanced automated mining equipment for the safety of underground miner during mining operations. The increasing demand for automated mining equipment for underground operations is driving the underground mining automation market.
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Break of primary participants in Mining Automation Market was as mentioned below:
By Company Type: Tier 1 – 35%, Tier 2 – 30%, Tier 3 – 35%
By Designation: Clevel – 25%, Director level – 30%, Others–45%
By Region:Asia Pacific– 45%, North America – 25%, Europe – 20%, Middle East & Africa – 6%, South America – 4%
Major players of Mining Automation Market Report are:
Key players operating in the mining automation market include Autonomous Solutions Inc. (US), Atlas Copco (Sweden), Caterpillar (US), Hitachi (Japan), Hexagon (Sweden), Komatsu (Japan), RPM Global (Australia), Sandvik (Sweden), Trimble (US), Fluid mesh Networks (US), Mine Site Technologies (Australia), and Symboticware (Canada).
FAQ’s regarding the Mining Automation Market Report are:
What is Market Penetration of Mining Automation?
Comprehensive information on the product portfolios of the top players in the Mining Automation market
What is Product Development/Innovation of Mining Automation?
Detailed insights on the upcoming technologies, R&D activities, and product launches in the Mining Automation market
What is Competitive Assessment of Mining Automation?
In-depth assessment of the market strategies, geographic and business segments, and product portfolios of the leading players in the Mining Automation market
What is Market Development of Mining Automation?
Comprehensive information about emerging markets. This report analyzes the market for various Mining Automation products across geographies
What is Market Diversification of Mining Automation?
Exhaustive information about new products, untapped geographies, recent developments, and investments in the Mining Automation market
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The market is segmented on the basis of type, application, and region. This report covers the Mining Automation market, in terms of volume and value, and forecasts its market size till 2022.
The report also provides company profiles and competitive strategies adopted by the key players in the Mining Automation market. The report offers detailed information on major factors such as drivers, restraints, opportunities, industry-specific challenges, and winning imperatives influencing the growth of the market.
The Mining Automation market in APAC is expected to grow at the highest CAGR during the forecast period owing to the increasing investment in the semiconductor industry and higher consumption rate of consumer electronics in the region. The telecom and automotive verticals are also playing a significant role in the growth of the Mining Automation market in the region.
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