The Europe Mining Automation Market would witness market growth of 6.2% CAGR during the forecast period (2022-2028).
Automation is required for an efficient and risk-free mining operation. Therefore, automation is anticipated to consume a significant portion of the budget for underground mining. The component is subdivided into hardware, software, and a communication system. Due to potential dangers such as inadequate ventilation, exposure to hazardous gases, and negative health effects, working in underground mines is extremely challenging. In the meantime, by implementing automated mining, all such significant threats can be eliminated, contributing to the growth of the market for mining automation.
In addition, it decreases the total cost of labor and boosts the plant's productivity, driving the market for mining automation. Owing to potential dangers such as limited ventilation, exposure to dangerous chemicals, and adverse health impacts, working underground in mining can be rather difficult. Therefore, the growth of the market for mining automation is attributable to the fact that all significant hazards can be eliminated via automated mining. Furthermore, it reduces overall labor costs and increases a factory's or manufacturing plant's output, which drives the mining automation industry.
The prosperity of the European economy depends heavily on the mining sector. Over the past ten years, the use of metals, industrial minerals, and aggregates has increased significantly throughout Europe. Currently, Europe produces many industrial minerals or aggregates virtually entirely. However, it is a sizable net importer for most metals and metal ores. Because of the abundance of natural resources in Europe, mining and the supply of minerals continue to be vital to the continent's economy and society, as they have for millennia. As building materials (crushed rock, sand, and gravel) for infrastructure, buildings, and roads, as well as for industrial uses (such as metals, lime, kaolin, silica sand, and talc) in the manufacturing of steel, computers, cars, medicines, human & animal foodstuffs, and fertilizers, to name a few major applications, minerals are used in everyday life.
The Germany market dominated the Europe Mining Automation Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $433.3 Million by 2028. The UK market is anticipated to grow at a CAGR of 5.3% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 7% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Mining Automation Market will Hit $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.
By Offering
By Technique
By Application
By Country
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