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The robotics market in the mining industry share is expected to increase by USD 2.04 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 20.08%.
The report extensively covers the robotics market in mining industry segmentations by application (material handling, surveying and mapping, drilling, and others) and geography (APAC, North America, Europe, South America, and Middle East and Africa). This robotics market in the mining industry research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. The robotics market in the mining industry report offers information on several market vendors, including ABB Ltd., Airobotics Ltd., Autonomous Solutions inc., Caterpillar inc., Cisco Systems inc., Clearpath Robotics inc., Hexagon AB, Hitachi Ltd., Komatsu Mining Corp., Mine Site Technologies Pty Ltd., Nabors Industries Ltd., Percepto, Rockwell Automation inc., Sandvik AB, Symboticware inc., Trimble inc., and Zyfra LLC among others.
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The increase in technology investment by mining companies is notably driving the robotics market growth in the mining industry, although factors such as the high cost of deployment may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the robotics in mining industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Robotics Market Driver in Mining Industry
One of the key drivers fueling the mining robotics market growth is the increase in technology investment by mining companies. Mining companies have now realized the safety hazards and risks that human personnel face owing to dangers posed by elements such as fire, falling rock, entrapment, and cave-ins. However, the introduction of robotics in mining could eliminate 11,000 to 13,500 deaths per year caused during mining operations while also enabling mining companies to explore unexplored territories for valuable minerals. Furthermore, they have realized that the adoption of robotics can make mining operations more precise and predictable. Robots can work 24/7 and eliminate the indirect costs associated with shift changes and driver breaks. In view of this, mining companies such as BHP Billiton, Rio Tinto, Anglo American, and Vale is investing in technologies such as robotics to enhance productivity. Such increasing investment will drive the mining robotics market growth during the forecast period.
Key Robotics Market Trend in Mining Industry
One of the key robotics market trends in the mining industry is the rising adoption of collaborative robots. Collaborative robots are meant to work in collaboration with humans. These robots are built using advanced smart sensors such as torque sensors and built-in safety sensors to enhance their coordination and sensitivity to the environment. Apart from advanced coordination, these robots cost less, which has increased their popularity among industry players. Moreover, the small size of these robots allows them to be deployed in tight spaces and moving platforms. Thus, the enhancements in the capabilities of collaborative robots in terms of programming and setup will increase the demand for these robotic solutions significantly during the forecast period.
Key Robotics Market Challenge in Mining Industry
One of the challenges hindering the mining robotics market growth is the high cost of deployment. Primarily, robots for the mining industry are expensive and require a large initial one-time payment. For instance, in the case of robots used in the mining industry, the price of one robotic system can go as high as USD 2.5 million. Apart from equipment costs, there are maintenance costs for servicing and upgrades, running the control room, and other system integration services. Moreover, the high cost associated with the training of specialists and operators for the deployment of robots is also a major challenge for the growth of the market. However, as end-users with budget constraints are not keen on adopting robots in the mining industry, if they are not cost-effective, the sales of vendors can be affected. These factors can have a negative impact on the mining robotics market growth during the forecast period.
This robotics market in the mining industry analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global robotics market in the mining industry as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the robotics market in the mining industry during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the robotics market in the mining industry encompasses successful business strategies deployed by the key vendors. The robotics market in the mining industry is fragmented and the vendors are deploying growth strategies such as R&D investments to compete in the market.
Asirobots.com - The company offers robotics in the mining industry such as automated drilling and blasting and intelligent tele op.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The robotics market in the mining industry forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the robotics market in the mining industry, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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48% of the market's growth will originate from APAC during the forecast period. China, Australia, and India are the key markets for the robotics market in the mining industry in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The government initiatives and the presence of a skilled labour force will facilitate the robotics market in the mining industry growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 had a negative impact on market growth. However, the roll-out of COVID-19 vaccines in a majority of the countries in the region and the gradual lifting of restrictions from the beginning of 2021 has propelled the demand for industrial robotics. Thus, the mining robotics market in the region is expected to grow during the forecast period.
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The robotics market share growth in the mining industry by the material handling segment will be significant during the forecast period. The segment includes revenue from tasks such as loading and hauling that are carried out by autonomous trucks and mobile robot platforms. There has been an increase in the adoption of robots to ensure the safety of miners since transportation tasks in mines are repetitive and dangerous. Thus, the forecast period will continue to see the demand for robots for material handling tasks with the emergence of autonomous trucks for moving rocks and ore and thereby driving the robotics market in the mining industry market growth.
This report provides an accurate prediction of the contribution of all the segments to the growth of the robotics market size in the mining industry and actionable market insights on the post-COVID-19 impact on each segment.
Robotics Market Scope in Mining Industry |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 20.08% |
Market growth 2022-2026 |
$ 2.04 billion |
Market structure |
Fragmented |
YoY growth (%) |
19.0 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 48% |
Key consumer countries |
US, China, Australia, India, and Russia |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
ABB Ltd., Airobotics Ltd., Autonomous Solutions inc., Caterpillar inc., Cisco Systems inc., Clearpath Robotics inc., Hexagon AB, Hitachi Ltd., Komatsu Mining Corp., Mine Site Technologies Pty Ltd., Nabors Industries Ltd., Percepto, Rockwell Automation inc., Sandvik AB, Symboticware inc., Trimble inc., and Zyfra LLC |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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