Mining Automation Market is anticipated to surpass US$3.728 billion by 2029 at a CAGR of 7.06%

The mining automation market is anticipated to grow at a CAGR of 7.06% from US$2.311 billion in 2022 to US$3.728 billion by 2029.

NOIDA, UTTAR PARDESH, INDIA, May 17, 2024 /EINPresswire.com/ — According to a new study published by Knowledge Sourcing Intelligence, the mining automation market is projected to grow at a CAGR of 7.06% between 2022 and 2029 to reach US$3.728 billion by 2029.

The key growth drivers to propel the mining automation market during the forecasted period are:

• The growing demand and adoption of automation in the production process in different industries or manufacturing units across the globe are increasing the need for suitable mining automation to boost production. This automation mining helps in making several mining processes used in manufacturing units like drilling and blasting more reliable and safer with high precision that increases the rate of production. For instance, according to the International Federation of Robotics, the number of industrial robots operating in manufacturing units across the globe is over 3 million units.

• The recent growth in technological advancement coupled with the development of precise and efficient automation tools that can be easily integrated into industrial production units for mining procedures are the factors contributing to the growth of the mining automation market. These technological advancements help boost the production process by providing high-quality, precise, and faster mining automation that is easily integrated into the industries working with mining equipment.

Access sample report or view details: https://www.knowledge-sourcing.com/report/mining-automation-market

The mining automation market, by technique, is divided into two types- underground mining and surface mining. The different mining technique needs different types of automation according to the conditions and environment in which the mining is done for instance, in underground mining there is a lot of darkness and high-temperature conditions and according to which mining automation is done. Therefore, the different mining automation techniques based on a variety of environmental conditions are contributing to the mining automation market growth over the forecast period.

The mining automation market, by workflow, is divided into three types- mining process, mine development, and mine maintenance. In mine maintenance, the workers perform regular checkups to ensure a safe and reliable working environment. This wide range of mining automation available for different mining workflows is projected to fuel the mining automation market.

The Asia Pacific region is expected to witness significant growth in the mining automation market during the forecasted period as this region has a growing number of countries in the region that have significantly grown in economies and overall GDP. This has led to growth in manufacturing units and industrialization in the region that use the mining process during production and to boost and accurately use the mining process they adopt mining adoption in the production process.

In countries like China and India where production has seen significant growth over the years and with that the manufacturing units growth in the region has also been impacted. For instance, the Asia Pacific region is the world’s largest market for industrial robots with 74% of newly deployed robots in 2021 installed in the region. This fuels the demand for mining automation which is anticipated to propel growth in the market.

The research includes several key players from the mining automation market, such as Caterpillar, RPM Global, Komatsu, Sandvik AB, Atlas Copco, Hexagon, Autonomous Solutions Inc., Hitachi (Johnson Controls), and Trimble.

The market analytics report segments the mining automation market using the following criteria:

• By Technique

o Underground mining

o Surface mining

• By Work Flow

o Mining process

o Mine development

o Mine maintenance

• By Geography

o North America

• USA

• Canada

• Mexico

o South America

• Brazil

• Argentina

• Others

o Europe

• United Kingdom

• Germany

• France

• Spain

• Others

o Middle East and Africa

• Saudi Arabia

• UAE

• Israel

• Others

o Asia Pacific

• China

• Japan

• India

• South Korea

• Taiwan

• Thailand

• Indonesia

• Others

Companies Mentioned:

• Caterpillar

• RPM Global

• Komatsu

• Sandvik AB

• Atlas Copco

• Hexagon

• Autonomous Solutions Inc.

• Hitachi (Johnson Controls)

• Trimble

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• Postal Automation Market: https://www.knowledge-sourcing.com/report/global-postal-automation-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
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