Mining Automation market COVID-19 Impact, Trends & Business Statistics By 2030

Posted by Mrudula Anil Karmarkar on February 8th, 2023

The global mining automation market size is expected to reach USD 8.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.3% from 2022 to 2030. The increasing demand for accuracy and productivity required during mining activities is the high impact rendering driver for the market. The growing adoption of the automated mining is attributed to the advantages associated with automated systems. For instance, in January 2022, Hexagon AB, one of the eminent players in digital reality solutions combining sensors, independent technology, and software programs, acquired Minnovare, one of the prominent players in drilling technology that enhances the cost, speed, and accuracy of drilling underground. The initiative aims to strengthen and accelerate Hexagon AB’s underground roadmap and strengthen the drill and blast portfolio.

The industry witnesses the adoption of drones as a step towards the evolution of unmanned and aerial data collection technology at mining sites. The automated drone system is poised to become an essential strategic part of the future of mining. For instance, in June 2020, Caterpillar Inc., a manufacturer in the construction, mining, and transportation sector, acquired Marble robots Inc, which operates as a robotic company that includes machinery for package delivery, prescriptions, and groceries. The initiative aims to expand Robotization and autonomy strategy and demonstrates its commitment to the coming generation of Jobsite results. Structure on its leadership in independent mining, the company plans to work and bring scalable results to meet the changing requirements of construction, chase, artificial, and waste diligence.

Additionally, the implementation of Geographic Information System (GIS) in mineral exploration activities has supplemented the market growth. GIS enables mining professionals to perform in-depth analysis and get insights on mineral mining, evaluate mining conditions, and display geochemical or hydrological data. The transition from conventional mining techniques to automation has negatively impacted the market. The incorporation of drones, autonomous machinery, and sensors has substantially affected the local employment at the mine sites. Moreover, skilled workers that specialize in handling remotely automated and controlled systems are expected to be in demand. For instance, in September 2021, ABB launched eMine, a fast and powerful truck charging that helps and diverts toward a zero-carbon mine, making an all-electric mine possible with electrification and a digital system. They also unveiled the piloting of the groundbreaking capability and gave FastCharge, one of the most crucial charging systems designed to affiliate with all makes of electric mining.

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Furthermore, the upcoming concept in mining operations is the use of central or virtual control room that monitors several mines in distant sites from a single location. The virtual control room is expected to facilitate benchmarking and comparison of identical processes at different plants. For instance, in January 2022, Accenture, a services-based company that provides a wide range of services in interactive, strategy, and consulting technology and operations, collaborated with Celonis. This data processing company sells software as a service (SaaS) to enhance business processes, and it has formed a partnership to work in process mining. They both have to create an alliance to help the organization gain some insights through which they update and optimize their business process. Accenture has set Celonis’ data-driven operation and capabilities into its tools and platforms to give new situations and insights to inform decision-making.

Mining Automation Market Report Highlights

• The equipment automation solution segment is expected to witness a CAGR of over 7.5% over the forecast period. Retrofitting the mining equipment with automated technology is expected to substantially contribute to segment growth
• The autonomous trucks are expected to dominate the market over the forecast period. Increased deployment of autonomous trucks at the mining sites to increase productivity and safety of the workers is expected to keep the segment buoyant
• The metal mining application segment is expected to witness a CAGR of over 6.9% over the forecast period. Increased gold exploration activities globally are expected to account for segment growth

The rapid advancement in technology such as Artificial Intelligence (AI) and robotics have resulted in increased usage of mining automation solutions as a means of boosting production efficiency. The increasing trend of deploying innovative technologies is driving the growth of automated mining solutions. The emergence of the Internet of Things (IoT) in this sector offers mine management with real-time data and analytics with the help of visualization tools. Several operators are teaming up with technology companies for deploying wireless networks underground.

The increased focus of players is to offer autonomous solutions that provide benefits such as productivity and cost-efficiency in the mining operations. The providers are offering products with the tele-remote operation, AHS, and ADS solutions thereby enhancing their product offering. Several providers are either retrofitting autonomous technology in their existing line of equipment or are introducing a new line of automated machines to gain a foothold on the market. Currently, Caterpillar Inc. and Komatsu Ltd. have their lineup of autonomous trucks whereas Rio Tinto Group has retrofitted 19 Cat 793F mining trucks aimed at autonomous operations.

Moreover, Caterpillar Inc. has installed Cat Command for Hauling software intended for the operation of autonomous fleets. For instance, in April 2022, Microsoft is the technology company that develops and supports software products and devices and provides services. It has acquired Minit as one of the prominent players in process mining technology and helps businesses convert the way they analyze, cover, and optimize their processes. The initiative aims to boost the process mining in power automation, the company to help clients digitally transform and drive functional excellence by creating a complete image of their business processes, allowing every function to be fluently and automatically analyzed and refined. Some of the prominent players in the mining automation market include:

• Atlas Copco AB
• Autonomous Solutions Inc.
• Caterpillar Inc.
• Hexagon AB
• Hitachi Construction Machinery Co., Ltd
• Komatsu Ltd.
• Rio Tinto
• Rockwell Automation, Inc.
• Sandvik AB
• Siemens