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3. Mining Automation Companies - Caterpillar (US), Komatsu (Japan) and Hexagon AB (Sweden) are the Key Players

The global mining automation market size is expected to grow from USD 3.1 billion in 2022 to USD 4.2 billion by 2027, at a CAGR of 6.3%. Growing necessity for improving worker safety, rising demand for fleet management, workforce management, and remote operating and monitoring systems, and growing digital transformation of mining industry worldwide are the key factors driving the mining automation market.

The key players operating in the mining automation market include the major players which operates in different stages in the entire value chain of mining automation; these players are Caterpillar (US), Komatsu (Japan), Hexagon AB (Sweden), Epiroc AB (Sweden), and Sandvik AB (Sweden). For staying competitive in the market and to increase their footprint in the global market, these players have adopted various types of strategies including increasing investments in R&D (research & development) and new product launches, increasing number of acquisitions, mergers, partnerships, and strategic alliances, and planned geographic expansions etc.

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Caterpillar focuses on innovative approaches for driving sales. It is dedicated to ensuring an easy-to-buy easy-to-own customer experience through eCommerce, customer value agreements, rebuilds, and repair options. The company leverages on dealer and telematics data to generate insights by using advanced analytics and machine learning, which facilitate the delivery of value-added services to customers for minimizing unplanned downtime, improving safety, and maximizing productivity. The company is investing heavily in modernizing its parts distribution network, implementing autonomous solutions that are integrated to densify its existing footprint, thereby forming efficient ecosystems within the company’s global distribution centers.

Komatsu employed a mix of acquisition and partnership strategies to strengthen its footprint in the industry and develop an all-round portfolio. For instance, in June 2022, Komatsu acquired Mine Site Technologies (MST Global), which is an Australia-based organization providing operational optimization platforms for underground mining. Similarly, in October 2021, Komatsu entered into a collaboration with Proterra, a leading innovator in commercial vehicle electrification technology, to electrify next-generation underground mining machines using Proterra’s battery technology. The company enjoys a diversified global footprint across regions such as North America, Europe, Middle East & Africa, Asia, Oceania, Latin America, and Commonwealth of Independent States (CIS), which enhances the ability of the company to tap into diversified customer bases and ensure a steady flow of revenue.

For growing in the mining automation market, Sandvik AB employs a strategy of acquisitions expanding and enriching their product portfolio. For instance, in May 2022, Sandvik AB signed an agreement to acquire the mining division of Schenck Process Group (SP Mining). SP Mining is a global provider of high-capacity screening solutions, which are highly complementary to Sandvik AB’s offerings. In April 2022, Sandvik AB completed the acquisition of Deswik, which is an Australia-based provider of mine planning software. Sandvik AB has sales operations in more than 150 countries, with subsidiaries in more than 70 countries. The company’s business is well spread across multiple regions, including Europe, North America, South America, Australia, Asia, and the Middle East & Africa. This enables the company to tap into diversified customer bases, thereby enhancing their ability to ensure a steady revenue flow from the global mining automation industry.

Epiroc AB, for maintaining its position in the market, acquires companies of strategic importance. For instance, in June 2022, Epiroc AB announced that it would acquire RNP Maxico, which develops, manufactures, and sells rock drills and related components to customers in construction and mining industry in Latin America. In the same month, the company completed the acquisition of JTMEC, which is an Australian mining electrification infrastructure provider, specializing in supporting the mining industry’s transition to battery electrification. Epiroc has a worldwide presence, including major regions such as the Americas, Europe, Asia Pacific, and the Middle East & Africa. The company has an extensive global network of distributors and partner companies for the sales and services of its mining equipment. The company supports sales operations in more than 150 countries worldwide.

Hexagon AB, for maintaining its position in the mining automation industry, engages in product launches and partnerships. For instance, in June 2022, Hexagon AB introduced the Life-of-Mine smart platform, which connects sensors, software, cloudware, and infield applications. In April 2022, Hexagon AB introduced the HxGN MinePlan GeoSlate, which is a geological drillhole logging software application that helps in simplifying the field data collection processes. Regarding strategic alliance and partnerships, in September 2021, Hexagon AB entered into a partnership with Liebherr Group through a global framework agreement to advance the next generation of mining automation. The company focuses on leveraging data through heightened customer engagement, thereby creating customer-centric solutions. For instance, in 2021, the company launched HxGN Connect, which is a SaaS collaborative workplace created purposely to bridge communication gaps by breaking down data siloes and promoting citywide collaboration of data communities. This strategy enables the company to expand its product line and improves safety. Hexagon AB also acquires other businesses, which allows the company to strengthen its solutions portfolio and accelerate growth. Over the past 21 years, Hexagon AB has been involved in more than 170 acquisitions, all of which are aimed to augment their R&D roadmap and enhance their solution portfolio. In the near future, Hexagon AB expects acquired companies to add almost 3–5% to their annual growth.

Related Reports:

Mining Automation Market by Offering (Equipment (Autonomous Hauling/Mining Truck, Autonomous Drilling Rig), Software (Remote Operating and Monitoring System), Communication Systems), Technique, Workflow, Region - Global Forecast to 2027

See Also :

 Industrial Automation Oil & Gas Companies

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