HOME Research Insight New Product Launches and Developments, Acquisitions, and Collaborations to Enhance Their Product Offerings Business in the Mining Automation Market



New Product Launches and Developments, Acquisitions, and Collaborations to Enhance Their Product Offerings Business in the Mining Automation Market


Mining of minerals on the earth’s surface is a combination of different workflows. The efficient synergy between these mining workflows results in a safe, productive, and profitable mining operations. Mine development, mining process, and mine maintenance are the primary workflows that are adopted by the mining companies in their mine sites. The mining automation market is expected to be worth USD 3.29 Billion by 2023, growing at a CAGR of 6.77% between 2017 and 2023.

The key market players such as Atlas Copco (Sweden), Caterpillar (US), Hexagon (Sweden), Komatsu (Japan), and Sandvik (Sweden) are focusing on strategies, namely product launches and developments, acquisitions, and collaborations to enhance their product offerings and expand their business.

Caterpillar has a comprehensive product line up of sophisticated mining equipment and automation technologies for the mining industry. The extensive product line of Caterpillar mining equipment globally is sold under the brands, namely, CAT, Hindustan, Hypac, Perkins, and SEM. The company’s mining product range includes large mining trucks, hydraulic mining shovels, rotary drills, larger motor graders, underground wheel loaders, real-time machine tracking, advanced guidance technology, detection, condition monitoring, and mining equipment automation. The high-quality products of the company are extremely reliable and designed for continuous operations in harsh working environments with a minimum downtime. Caterpillar’s mining equipment are enabled with advanced technologies and have robust design resulting in increased strength and less fuel consumption. Caterpillar is one of the key suppliers in the mining automation market. An extensive dealer network has helped Caterpillar to gain the leadership position in the market. In the recent past, the company mainly focused on product launches as their key growth strategy. For instance, in February 2017, Caterpillar launched the Cat Connect Product Link technology. The new technology offers multiple communication channels such as cellular, satellite, and Bluetooth. This will enable companies to connect their assets and extract critical data, ranging from machine hours, locations, health parameters, and production numbers to manage their mining operations efficiently.

Komatsu Ltd. has a wide assortment of mining equipment and automation solutions. The company is one of the pioneering companies to use automation in the mining industry. The company’s product offerings for the mining industry include excavators, dozers, wheel loaders, off-highway trucks, intelligent machine control systems, autonomous navigation systems, autonomous haulage system (AHS), and KOMTRAX-remote monitoring system. Komatsu designs its mining equipment to operate round the clock in various mining conditions, making them highly reliable. Komatsu has an extensive global distribution network through which it sells its mining equipment. In April 2017, Komatsu Ltd. acquired Joy Global Inc., a leading mining equipment company, to further expand its product portfolio.

Sandvik’s offerings for the mining automation and mining industry include bucket wheel excavators, fixed and mobile crushing stations, ship loaders, reclaimers, surface and underground drilling rigs, underground loaders and haulers, underground hauling trucks, among many others. The company provides sophisticated mining automation solutions, including equipment automation and teleoperations systems and information systems comprising key features such as monitoring, 3D mine visualizer, location tracking, task management, and scheduler. Sandvik’s mining equipment is highly reliable and is capable of working in extreme and harsh environments with a minimum downtime. The company’s products ensure a high level of automation, assisting mining operators in carrying out mining activities efficiently. The company actively invests in the product innovation and has 60 R&D centers globally and also has 8,000 active patents on its name. In March 2017, Sandvik launched a several new innovative mining and rock excavation equipment solutions at the CONEXPO-CONAGG 2017 event held in Las Vegas, US. Products showcased at the event include Pantera DP1100i surface drill rig, UI310+ wheeled impact crusher, QE441 Free Flow mobile scalper, and CS550 automated cone crusher.

The other companies in the mining automation market are Autonomous Solutions Inc. (US), Hitachi (Japan), Hexagon (Sweden), RPMGlobal (Australia), Trimble (US), Fluidmesh Metworks (US), Mine Site Technologies (Australia), and Symboticware (Canada).

Related Reports:

Mining Automation Market by Technique, Type (Equipment, Software, Communications System), Equipment (Autonomous Hauling/Mining Trucks, Autonomous Drilling Rigs, Underground LHD Loaders, Tunneling Equipment) and Region - Global Forecast to 2023

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