Chicago, Feb. 27, 2024 (GLOBE NEWSWIRE) -- The global mining automation market size is expected to grow from USD 3.6 billion in 2024 to USD 5.1 billion by 2029, at a CAGR of 7.2% from 2024 to 2029. Mining automation offers a controlled, safe environment for surface and underground activities that safeguard workers and maintenance personnel. This technology reduces the total cost of ownership and maintenance expenses while also boosting productivity and safety. In mining operations, automation is accomplished through the use of dedicated software, such as autonomous haulage systems and collision detection and avoidance systems, as well as automated hardware, such as autonomous haulage/mining trucks, autonomous drilling rigs, underground LHD loaders, and others.
Major Mining Automation Companies Include:
- Caterpillar (US),
- Komatsu Ltd. (Japan), and
- Sandvik AB are notable players.
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Caterpillar
Caterpillar is one of the leading manufacturers of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. The company operates through four business segments, namely, Construction Industries, Resource Industries, Energy & Transportation, and Financial Products. The company provides an extensive underground and surface mining product portfolio through its Resource Industries segment. Caterpillar provides mining equipment for mining automation, including excavators, loaders, dozers, and trucks. The company develops and manufactures equipment for both surface and underground mining operations. It also offers hydraulic systems, drivetrains, electronics, and software for different machines and engines. The company has a footprint across regions such as North America, Latin America, Europe, Africa, the Middle East (EAME), the Commonwealth of Independent States (CIS), and Asia Pacific.
Komatsu Ltd.
Komatsu Ltd. is a provider of industrial equipment and services. The company is one of the leading global manufacturers of construction and mining equipment. Komatsu Ltd. offers a wide range of products, solutions, and services, especially for utilization in construction and mining workplaces. The company operates through three business segments, namely, Construction, Mining, and Utility Equipment; Retail Finance; and Industrial Machinery and Others. The company is engaged in other businesses such as logistics, electronics, and other solution-based operations such as planned maintenance services, oil and wear analysis, and excavator track management. The company manages a total of 239 bases, which includes 89 sales bases, 81 parts, training and remanufacturing bases, and 69 production bases. Regarding geography, the company offers its products in two markets: the strategic market and the traditional market. Traditional markets include markets in Japan, North America, and Europe. Strategic markets include markets in China, Latin America, Asia, Oceania, the Middle East, Africa, and the Commonwealth of Independent States (CIS)
Sandvik AB
Sandvik AB provides solutions for enhancing productivity, profitability, and sustainability for the mining, manufacturing, and infrastructure industries. The company has three business segments: Mining and Rock Solutions, Rock Processing Solutions, and Manufacturing and Machining Solutions. The company’s products are primarily used in the aerospace, automotive, infrastructure, mining, and energy industries. The company’s offerings for the mining industry include bucket wheel excavators, mobile crushing stations, exploration drill rigs, surface and underground drill rigs, underground loaders and haulers, and mine automation systems. The company has a sales footprint in about 150 countries across various regions, including Europe, North America, Asia, the Middle East & Africa, South America, and Australia.
