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New York, Sept. 23, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'Autonomous Mining Equipment And Vehicles Global Market Report 2022' -
6 billion in 2021 to $2.94 billion in 2022 at a compound annual growth rate (CAGR) of 13.1%. The autonomous mining equipment and vehicles market is expected to grow to $4.09 billion in 2026 at a compound annual growth rate (CAGR) of 8.6%.
The autonomous mining equipment and vehicles market consist of sales of autonomous mining equipment and vehicles by entities (organizations, sole traders, partnership) that can sense the environment and navigate on the mine haul road surface without any human intervention. Autonomous equipment and vehicles function with minimal human intervention and primarily help in the safe mining and transportation of ores and other materials.
The main technologies of autonomous mining equipment and vehicles are surface mining techniques and underground mining techniques.The equipment used is a smart ventilations system, autonomous hauling truck, pumping stations, autonomous drilling rig, underground LHD loader, tunneling equipment, and other equipment.
The applications involved are metal mining, mineral mining, coal mining and others.
The regions covered in autonomous mining equipment and vehicles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Rising concerns regarding miners' safety are driving the growth of autonomous mining equipment and vehicles market as more autonomous mining equipment is employed to minimize human intervention and thereby reduce accidents.Mining is a dangerous profession with hazards such as fires, flooding, mine collapse, and health risks such as respiratory diseases, hearing loss, musculoskeletal disorders, and heat stress.
Introducing autonomous equipment such as robotic loaders, laser sensors, and driverless trucks can help improve worker safety.For instance, mining company Rio Tinto is using 73 driverless trucks in four of its iron mines in Australia to improve worker safety.
Therefore, the rising concerns regarding miners' safety are expected to propel the growth of the autonomous mining equipment and vehicles market.
Autonomous mining equipment manufacturers are increasingly investing in technologies for electrification of mining equipment to reduce costs and emissions.Mining companies are required to invest heavily in equipment and maintenance to remove exhaust gases and heat generated by underground mining equipment.
According to EY, a typical underground mine is ventilated by 500 to 1,000 cubic meters per second of fresh air and the mechanical refrigeration needed to remove diesel equipment heat has an upfront cost of $30 million to $38 million and annual electricity costs of $0.75 million to $2.2 million. These high investment and maintenance costs can be avoided by using autonomous mining equipment that uses electricity as the source of energy.
In June 2020, Caterpillar Inc, a US-based construction machinery and equipment company acquired Marble Robot Inc. for an undisclosed amount. The acquisition is part of Caterpillar's automation and autonomy strategy and demonstrates its commitment to the next generation of Jobsite solutions. Marble Robot, Inc. is a US-based robot and autonomy technology solutions company.
The countries covered in the autonomous mining equipment and vehicles market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA.
Read the full report:
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