The Latin America, Middle East and Africa Mining Automation Market would witness market growth of 9.1% CAGR during the forecast period (2022-2028).
The market for mining automation is predicted to be driven by the creation of durable technology-based vehicles, like autonomous trucks and teleoperated mining equipment. In addition, significant advances in hardware automation technology are expected to continue streamlining the large-scale mining sector. It is anticipated that growing consumer demand for metals such as copper, zinc, lead, and nickel will contribute to the development of the mining automation industry. To satisfy the rising demand for base metals, the metal mining sector needs more and more automated methods.
"Connected mining" refers to using technology to improve mine site productivity, safety, and operational expenses. Hence, connected mining, a combination of automation, IT, and instrumentation technologies, seems to be the outcome of developments in the mining industry's existing technology. This integrated operations technology expedites and simplifies the processes of planning, mine surveying, extraction, exploration, and analysis through software that provides real-time information, thereby providing an accurate depiction of the mine environment and the availability of resources.
The Gulf nations are economically advanced, whereas the African states have yet to catch up to the Gulf states regarding economic development. The Middle East and Africa (MEA) is the world's largest center for mineral mining (diamond, gold, and phosphate) and oil & gas operations; mineral mining is a burgeoning business that offers tremendous prospects for astute mining, resources, and infrastructure corporations. The Gulf states are eager to diversify their economies, lessen their reliance on oil and gas, and provide jobs for their young, rapidly expanding population. The future of Middle Eastern and African mining is bright. However, much of the Middle East has not yet been explored with modern techniques and equipment.
The Brazil market dominated the LAMEA Mining Automation Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $123.3 Million by 2028. The Argentina market is experiencing a CAGR of 9.7% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 8.8% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Mining Automation Market is Projected to reach USD 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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