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Mining automation market Growth
Mining Automation Market Research Report for Complete Analysis of Current Scenario
mining automation market growth is driven by enhanced miner safety, increased productivity, & new technologies. Key factors include transitioning from manual to automated tasks & strategic expansions.” - Allied Market ResearchWILMINGTON, DE, UNITED STATES, September 17, 2024 /EINPresswire / -- Allied Market Research, titled, Global Mining Automation Market by Technique and Type: Global Opportunities Analysis and
industry Forecast, 2017-2023, the mining automation market was valued at $2,193 million in 2016, and is projected to reach $3,810 million by 2023, growing at a CAGR of 7.9% from 2017 to 2023.
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Mining automation involves the use of process and software automation, and the incorporation of robotic technology in mining vehicles and automation. In 2016, the underground mining segment dominated the market, in terms of revenue, due to an increase in investment in automation and infrastructure.
Asia-Pacific was the highest revenue contributor to the golf cart market in 2016, accounting for around 31.41% share, owing to a surge in demand for mobility for automation and an increase in transition from manual work to automated work.
The report features a competitive scenario of the mining automation market and provides a comprehensive analysis of key growth strategies adopted by major players. Key players operating in the global mining automation market include Autonomous Solution Inc., Atlas Copco, Caterpillar, Hexagon, Hitachi, Komatsu Ltd., Mine Site Technologies, RPMGlobal Holdings Ltd., Sandvik AB, and Trimble. These players have adopted competitive strategies such as innovation, new product development, and market expansion to boost the growth of the market.
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Increase in the Need for Worker Safety
Working in underground mines is considered to be extremely hazardous due to the potential dangers such as lack of proper ventilation, exposure to toxic gases, and adverse health effects. This concern derived from the need for advanced mining equipment for underground mining techniques to safeguard mine workers, which majorly drives the market.
Reduction in Operating Cost
Automated mining involves the removal of manual labor from the mining process. Further, the reduction in time needed to travel through the mine during the shift reduces the overall cost involved in the mining process which drives the market growth.
Absence of high-skilled and Qualified Labor
The adoption of mining automation involves the requirement of highly skilled and qualified laborers at the mine site. The lack of required personnel to operate the technology is the major backdrop. The absence of such a required workforce acts as a major restraint for market growth.
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Key Findings of the Mining Automation Market:
- The underground mining segment accounted for the highest share in 2016.
- The equipment segment generated the highest revenue in 2016.
- Asia-Pacific is expected to dominate the market, in terms of market share, during the forecast period.
About Us:
Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on analyzing high-tech and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use various tools and techniques when gathering and analyzing data, including patented data sources.
David Correa
Allied Market Research
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.