North America Mining Automation Market Size, Share & Industry Trends Analysis Report By Offering (Software, Equipment and Services), By Technique (Underground Mining and Surface Mining), By Application, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America Mining Automation Market would witness market growth of 6.7% CAGR during the forecast period (2022-2028).
Mining operations necessitated a great deal of manual labor, which placed employees in a hazardous environment at risk. Higher productivity necessitates a substantial amount of human resources, which necessitates the provision of safety equipment and the payment of high wages, hence increasing the entire cost of production. Numerous businesses are automating their mining processes to avoid such significant costs and risks to workers.
Since sensing, control, and computing technologies are growing rapidly, automation has been highlighted as the most likely way to achieve the next quantum leap in productivity and safety. Not only does it reduce the total production cost of mining, but it also improves mining productivity. Furthermore, many cutting-edge technologies, such as satellite communication, the Internet of Things (IoT), automated trucks and load haul dumps, etc., are utilized in mining automation. Thus, mining automation is necessary to provide a safe working environment for employees and to boost productivity.
In the United States, the mining business comprises the beneficiation, extraction, and processing of naturally occurring solid minerals. Minerals include industrial minerals like limestone, potash, and other fragmented rocks, as well as coal and metals such as copper, iron, or zinc. In the United States, metals and other minerals are key raw resources for the construction and chemical industries, in addition to the production of daily electronics and consumer goods. For instance, a modern computer uses over 65 distinct minerals. Furthermore, coal accounts for almost fifty percent of the nation's electricity production. The discovery of shale formations and the world's dependence on oil and gas resources has resulted in unprecedented mining activity, particularly in the oil and gas sector.
The US market dominated the North America Mining Automation Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,445.9 Million by 2028. The Canada market is poised to grow at a CAGR of 8.8% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 8.5% during (2022 - 2028).
Based on Offering, the market is segmented into Software, Equipment and Services. Based on Technique, the market is segmented into Underground Mining and Surface Mining. Based on Application, the market is segmented into Mineral Mining, Coal Mining and Metal Mining. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Mining Automation Market is Predict to reach $7 Billion by 2028, at a CAGR of 6.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Caterpillar, Inc., Hexagon AB, Hitachi Construction Machinery Co., Ltd., Komatsu Ltd., Sandvik AB, Liebherr-International AG, Rockwell Automation, Inc., Siemens AG, Trimble, Inc. and Autonomous Solutions, Inc.
Scope of the Study
Market Segments Covered in the Report:
- Underground Mining
- Surface Mining
- Mineral Mining
- Coal Mining
- Metal Mining
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Caterpillar, Inc.
- Hexagon AB
- Hitachi Construction Machinery Co., Ltd.
- Komatsu Ltd.
- Sandvik AB
- Liebherr-International AG
- Rockwell Automation, Inc.
- Siemens AG
- Trimble, Inc.
- Autonomous Solutions, Inc.
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