Underground Mining Automation Market

Underground Mining Automation Market Snapshot (2022 to 2032)

According to Future Market Insights, the global Underground Mining Automation market is estimated to be valued at US$ 1,418.6 Million in 2022 and will grow at a CAGR of 5.9% from 2022 to 2032. The rapid advancement of technology, such as Artificial Intelligence (AI) and robotics, has increased the use of automation solutions in underground mining as a means of increasing production efficiency. The growing trend of deploying cutting-edge technologies is propelling the growth of automated underground mining solutions.

Attributes	Details
Market Size 2021A	US$ 1,307.9 Million
Market Size 2022E	US$ 1,418.6 Million
Market Size 2032F	US$ 2,516.7 Million
Value CAGR (2022 to 2032)	5.9%

The future of underground mining automation is dependent on the need to integrate various subsystems in the mines. The demand for integrated solutions for smarter, safer operations as well as increasing productivity will raise the adoption of underground mining automation. Apart from that continuous investments in technological advancements in the African region will be a major factor in the adoption of underground mining automation.

The expansion of the underground mining automation market, during the forecast period 2022 to 2032, is driven by the growing requirements for mine and worker safety. Traditional mining methods have historically endangered the safety of miners, increasing the risk at the mine site. To keep workers safe, suppliers have created smart mining machines and systems.

Historic Market Outlook for Underground Mining Automation

The worldwide underground mining automation market was valued at US$ 1,307.9 Million in 2021 and is expected to reach US$ 2,516.7 Million by 2032.

The global underground mining automation market is expected to grow at a CAGR of 5.9% during the forecast period. This is due to factors such as the growing demand for efficiency and productivity in mining operations and the growing need for mechanization of the mineral extraction process. The increasing use of robots in mining is also expected to boost the growth of this market during the forecast period. Increasing demand for minerals and metals from emerging countries such as China and India is driving the growth of this market.

What are the Various Factors Driving the Underground Mining Automation Market?

Underground mining operations are considered extremely risky because of potential risks such as poor ventilation, poisonous gas exposure, and bad health impacts. This issue has produced a demand for improved mining equipment for underground mining procedures to safeguard miners, boosting the market.

Employee safety and low production rates are two major factors behind the rising adoption of underground mining automation. Furthermore, the rise of digital mines, digital twins, and other technological advancements has influenced the global underground mining automation market, which is further expected to expand during the forecast period due to the increasing trend of industrial automation and the significant development of artificial intelligence(AI).

The growth of communications in underground mining is a key factor driving the adoption of underground mining automation solutions and services.

Which Factors May Hinder the Underground Mining Automation Market Growth?

A major challenge in the underground mining automation market is the lack of acceptance of the technology among professionals in developing countries. Underground mining automation providers are now taking steps such as providing training and raising awareness by offering technology exhibitions. The adoption of automation in mining requires highly skilled and qualified laborers. Shortage of manpower required to operate the technology and lack of manpower required in such background acts as a major restraint to market growth.

Which Region hold the prominent share in Underground Mining Automation Market?

Manufacturers from developed countries such as Germany, the USA, the United Kingdom, France, and Japan are leaders in providing automated solutions for underground mining. Mining activity is prominent in countries such as Australia, Russia, China, Canada, Indonesia, South Africa, Peru, Brazil, and other African countries.

Mining companies are now focused on investing in the automation of underground mining, with a focus on African countries. Government regulations play an important role in the adoption of underground mining automation systems. However, some countries have adopted stringent regulations to protect the environment which are hindering mining activities resulting in negatively impacting the underground mining automation market.

Using automated solutions for underground mining allows miners to move to dangerous and difficult locations. In countries such as Australia, Brazil, and Africa the deployment of underground mining automation solutions by mining operators will have a positive impact on the underground mining automation market.

New mining projects in Southeast Asia, Latin America, and African countries are expected to increase opportunities for the underground mining automation market.

Market Competition

The mining automation market is highly fragmented. A large number of players participate in the vast competition to win the large consumer base. Players engage in activities such as research and development to explore new developments and ideas in mining automation.

The strategic partnership is important to add value to the growth trajectory of the mining automation market. Players get into mergers, joint ventures, partnerships, and acquisitions initiatives to increase their influence in untapped regions. These factors are ultimately contributing to the growth in the mining automation market.

Key Players operating in the global underground mining automation market are ABB, Atlas Copco, General Electric, Glencore, Hexagon, Hitachi, Komatsu, Redpath, Rio Tinto, Rockwell Automation, Sandvik AB, Siemens AG, and others.

Scope of the Report

Attribute	Details
Growth Rate	CAGR of 5.9% from 2022 to 2032
Base Year for Estimation	2021
Historical Data	2017 to 2021
Forecast Period	2022 to 2032
Quantitative Units	Revenue in USD Million, Volume in 000’Units, and CAGR from 2022 to 2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered	Product Type Level of Automation Application End Use Region
Regions Covered	North America Latin America Europe East Asia South Asia & Pacific Middle East and Africa
Key Countries Covered	USA Canada Mexico Brazil Germany Italy France United Kingdom Spain Benelux Russia China Japan South Korea India ASEAN Australia and New Zealand GCC Countries Turkey South Africa North Africa
Key Companies Profiled	ABB Atlas Copco General Electric Glencore Hexagon Hitachi Komatsu Redpath Rio Tinto Rockwell Automation Sandvik AB Siemens AG
Customization & Pricing	Available upon Request

Key Segments Profiled in Underground Mining Automation Market

By Product Type, the Underground Mining Automation Market is segmented as:

• Hardware
• Software
• Services

By Level of Automation, Underground Mining Automation Market is segmented as:

• Lower Level Automation
• Mid-Level Automation
• Full Automation

By Application, Underground Mining Automation Market is segmented as:

• Loading & Hauling
• Surface Drilling
• Fleet Management
• Tele Operations
• Others

By End Use, Underground Mining Automation Market is segmented as:

• Chromium mining
• Coal mining
• Diamond mining
• Gold mining
• Iron ore mining
• Manganese mining
• Platinum and palladium mining
• Uranium mining
• Others

By Region, Underground Mining Automation Market is segmented as:

• North America
• Latin America
• Europe
• South Asia & Pacific
• East Asia
• Middle East & Africa

Frequently Asked Questions

What was the value of the Underground Mining Automation market in 2021?

In 2021, the value of the Underground Mining Automation market reached over US$ 1,307.9 Million.

At what rate is the Underground Mining Automation market projected to expand during the forecast period?

During the forecast period, the Underground Mining Automation market is estimated to expand at a CAGR of 5.9% from 2022 to 2032.

By 2032, what will the value of the Underground Mining Automation market?

The Underground Mining Automation market is projected to reach US$ 2,516.7 Million by the end of 2032.

Which region/country is set to lead the Underground Mining Automation market?

Germany is projected to lead the Europe Underground Mining Automation market in the forecast period.

Which are the top players in the Underground Mining Automation market?

Key Players operating in the global underground mining automation market are ABB, Atlas Copco, General Electric, Glencore, Hexagon, Hitachi, Komatsu, Redpath, Rio Tinto, Rockwell Automation, Sandvik AB, Siemens AG, and others.