Global Autonomous Mining Equipment Market Opportunities And Strategies For Major Players In The Autonomous Mining Equipment Market 2021-2030

The autonomous mining equipment market consists of sales of autonomous mining equipment by entities (organizations, sole traders or partnerships) that are engaged in manufacturing autonomous equipment and vehicles which function with minimal human intervention and primarily help in safe mining and transportation of ores and other materials. Autonomous mining equipment works on wireless communication technologies and electronic tracking (CT) systems. Only goods and services traded between entities or sold to end consumers are included.

Global Autonomous Mining Equipment Market Size And Drivers:

The autonomous mining equipment market reached a value of nearly $1,825.1 million in 2020, having increased at a compound annual growth rate (CAGR) of 6.8% since 2015. The market is expected to grow from $1,825.1 million in 2020 to $3,171.8 million in 2025 at a rate of 11.7%. The market is then expected to grow at a CAGR of 5.2% from 2025 and reach $4,080.2 million in 2030. A shortage of labor or skilled workforce is driving the autonomous mining equipment market.

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Trends In The Global Autonomous Mining Equipment Market

Autonomous mining equipment companies are leveraging the power of the IoT to enhance the efficiency of their equipment. IoT based smart sensors allow real-time capture of data from machines and equipment across the operation. This data collected can then be used for planning and control, considering the different units within the operation, and support the decision-making process. The use of IoT enables companies to reduce risks, optimize operations and improve productivity. For instance, South Africa based gold mining company, Gold Fields’ uses sensors and machinery to get live data of the mining body, which it then uses to place explosive charges in drill holes, where they are most effective, improving impact efficiency.

Global Autonomous Mining Equipment Market Segments:
The global autonomous mining equipment market is further segmented based on type, application and geography.
By Type: Autonomous Hauling/Mining Trucks, Autonomous Drilling Rigs, Underground LHD Loaders, Tunneling Equipment, Others
By Application: Metal, Coal, Others
By Geography: The global autonomous mining equipment market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the autonomous mining equipment market, accounting for 37.9% of the total in 2020.

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Autonomous Mining Equipment Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides autonomous mining equipment market overviews, analyzes and forecasts market size and growth for the global autonomous mining equipment market, autonomous mining equipment market share, autonomous mining equipment market players, autonomous mining equipment market segments and geographies, autonomous mining equipment market’s leading competitors’ revenues, profiles and market shares. The autonomous mining equipment market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.