As Automated Mining Technologies Advance, Global Markets Increase

December 05, 2018

WELLESLEY, Mass., Dec. 5, 2018 – An abundance of new technologies that have led to increased productivity, significant labor cost reductions, enhanced safety and improved performance have resulted in an increase in mining equipment purchases, replacing outdated and overused mining equipment.

According to the report Mining Automation: Technologies and Global Markets, mining automation technologies and equipment are predicted to transform the industry in terms of both profitability and structure over the next decade.

Remote control along with both teleoperated and fully automated mining technologies lead the way toward a safer, more economical approach to mining. This report reviews the early phase of this transition, as markets are entering into their exponential growth phases and new automation technologies fully adapt into the overall mining market.

By the end of 2023, automated mining technologies global markets are expected to reach $19.7 billion, achieving a high compound annual growth rate (CAGR) of 25.6%.

Research Highlights

• Markets for overburden removal equipment as well as ore extraction equipment will advance from $3.5 billion in 2018 at a CAGR of 22.7%, reaching $9.7 billion in 2023.
• Markets for ore transport, crushing, sorting and automated mining controls will collectively advance from $2.8 billion, at a CAGR of 28.8%, to $10.0 billion by 2023
• As a facet of the overall mining equipment market, which as of the publication date of this report has a market value more than $100 billion, automated mining technologies are still early in their development process across and into the overarching mining equipment market.

“Modern technology has provided significant benefits to safety and productivity since the time of pickaxes, dynamite and beasts of burden, thanks to longwall miners, conveyors, draglines and other mining equipment,” said Robert Eckard, the report’s author. “A rapidly increasing number of new innovations and technologies are coming into play in the global mining industry. Some technologies, such as self-driving ore or coal trucks, represent modified versions of consumer-level technologies that are already being developed and utilized in autonomous and semi-autonomous vehicles. Automated and robotic drills are taking the place of manned equipment and, for the past 80 years, a growing proportion of the mining equipment that was operated by human drivers is now being operated remotely or as fully automated equipment.”

Editors/reporters requesting analyst interviews should contact Eric Surber at press@bccresearch.com.

Mining Automation: Technologies and Global Markets( IAS119A )
Publish Date: Nov 2018    

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