PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1381658
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1381658
Automated mining equipment refers to machinery and systems that are designed to perform mining operations with minimal human intervention. These technologies utilize various sensors, control systems, and advanced software to automate tasks that were traditionally performed by human operators. Automated mining equipment is typically used in large-scale mining operations, such as open-pit mining or underground mining, where repetitive and dangerous tasks can be efficiently and safely carried out by machines. The Automated Mining Equipment market is expanding because of factors such as rapidly rising mining activities and adequate government investment to enhance mining activities.
Rising development of various mining industries is driving the market growth. According to Global Energy Monitor, in year 2018 there were around 40 new Coal Mines were in operation around the world which increased to 48 new mines in year 2022. Along with these, according to Statista, in year 2021 the production of Coal Stood at 160.1 Exajoules which was up from 151.07 exajoules in year 2020. These rising production and rising development of new coal mines would result in rising adoption of automated mining equipment to automate tasks that were traditionally performed by human operators. In addition, mining businesses all around the world are making use of technology advancements to make better use of their equipment and personnel resources to increase safety. For instance, Israel Aerospace Industries (IAI) and logistics company Bis announced their joint venture in September 2020 for "Auto-mate," a new joint venture to deliver autonomous technologies for mining operations. IAI asserts that the JV will probably grant mining sector participants access to the advantages of automation in their operations, which boosts efficiency and safety. Such initiatives would create a lucrative growth to the market. Moreover, growing demand for increasing productivity and improving workers safety and growing concerns about reduction of operational costs is creating a lucrative opportunity to the market growth. However, the high cost of automated mining equipment and regulatory and safety issues stifles as well as security and vulnerability issues market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Automated Mining Equipment Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share owing to the dominance of key market players, rising government initiatives for oil and mining explorations activities, and rising technological advancements in equipment. Whereas, Asia Pacific region is projected to have fastest growth owing to factors such as rising number of mining projects, rising geographic expansion by key market players and active participation of government in the mining industry.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable