The Global Autonomous Mining Equipment Market Report by The Business Research Company covers autonomous mining equipment market drivers and restraints, autonomous mining equipment market size, major players, and the impact of COVID-19 on the autonomous mining equipment market.

 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.

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 autonomous mining equipment market is then expected to grow at a CAGR of 5.2% from 2025 and reach $4,080.2 million in 2030.

Many mining companies are facing heavy equipment operator shortages across the world. Manufacturers are more focused towards technology such as robotics and automation primarily to combat labor shortages along with finishing tasks faster, reducing wastage, and providing high yields with improved quality. Experts believed that one of the best solutions to combat the labor shortage is to automate mining equipment for repetitive tasks, especially in remote areas and in locations with significant labor shortages. Therefore, a shortage of labor or skilled workforce is driving the autonomous mining equipment market. For instance, in 2021, Australia based gold mining company, St Barbara Ltd slashed full-year production guidance for its Leonora operations in Western Australia by 18% due to a severe labor and skills shortage, which could cost the company $US46.7 million ($60 million).

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Some autonomous mining equipment market trends include 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. Moreover, companies in the autonomous mining equipment market are investing in AI and ML solutions to increase efficiency in mining. With use of AI/ML methods for applications like mineral prospecting, it is expected that these methods would optimize prospection and exploration activities, reduce costs, and improve accuracy.

Global autonomous mining equipment market segments include:

1) By Type: Autonomous Hauling/Mining Trucks, Autonomous Drilling Rigs, Underground LHD Loaders, Tunneling Equipment, Others

2) By Application: Metal, Coal, Others

3) By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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The Autonomous Mining Equipment Opportunities And Strategies: Forecast To 2030 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, share, autonomous mining equipment market players, autonomous mining equipment market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.

The autonomous mining equipment identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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Read Autonomous Mining Equipment Opportunities And Strategies: Forecast To 2030 from The Business Research Company for information on the following:

Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries

Market Players Covered: Sandvik, Caterpillar, Komatsu, Hitachi Construction Machinery Co., Ltd.,Scania AB

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.

Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.

Strategies For Participants In The Autonomous Mining Equipment Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.

Opportunities For Companies In The Autonomous Mining Equipment Sector: The report reveals where the global industry will put on most $ sales up to 2023.

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