LONDON, March 30, 2020 /PRNewswire/ -- Autonomous Hauling Systems (AHS) Trucks In The Iron Ore Mining Industry
The use of autonomous hauling systems (AHS) trucks in the iron ore mining industry is significantly enhancing production efficiency and reducing turnaround time. Autonomous hauling systems control and track mining vehicle movements, and coordinate and autonomously drive off-highway haul trucks operating in a mine. IoT technology in mining, 3D printing technology in mining, and autonomous haulage systems are reshaping the mining industry, and are the major trends witnessed in the global mining market.
Global Mining Market Overview
The mining market consists of sales of minerals, metals and other valuable materials such as sand and gravel, coal and stone extracted from the earth crust by entities (organizations, sole traders and partnerships) that undertake the process of extraction. The mining market is expected to reach a value of nearly $1805.86 billion by 2022, significantly growing at a compound annual growth rate (CAGR) of 2.0% during the forecast period. The growth in the mining market is due to increased demand for power generation, low oil prices, and technology development.
However, the market for mining is expected to face certain restraints from factors such as changing regulations, stringent government regulations and fatal accidents.
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Mining Market Segments
The mining market is segmented into coal, lignite, and anthracite mining, metal ore mining, support activities for mining, copper, nickel, lead, and zinc mining, stone mining and quarrying, and general mineral mining. Among these segments, the coal, lignite, and anthracite mining market accounts for the largest share in the global mining market.
Growth In The Iron Ore Mining Market
The iron ore mining market is expected to reach a value of nearly $97.27 billion by 2022, a decline at a CAGR of 4.9% during the forecast period. The market for iron ore mining is expected to face certain restraints from factors such as interest rate increases, and workforce issues and safety conditions.
However, growth in the iron ore mining market is expected from increase in construction projects in rapidly developing countries such as China and India, owing to rise in population and infrastructure development.
The iron mining market consists of sales of iron ores and concentrates by entities (organizations, sole traders and partnerships) that mine iron ore. The industry includes establishments that develop mine sites, mine and beneficiate iron ore, and produce sinter iron ore, except iron ore produced in iron and steel mills. It also includes producing other iron ore agglomerates.
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Use Of Multipurpose Mining Equipment For Salt Mining
Salt mining companies are utilizing multipurpose mining equipment to extract rock salt from an underground deposit. This equipment enables mining companies to control carbon emissions underground and increase productivity with reduced cost, which is a major trend in the salt mining market.
Salt Mining Market Overview
The salt mining market consists of sales of salt by entities (organizations, sole traders and partnerships) that mine salt through the process of extraction of halite, commonly known as rock salt, from evaporate formations. The salt mining market is segmented into rock salt, salt in brine, solar salt, and vacuum pan salt. The global salt mining market expected to reach a value of nearly $30.74 billion by 2022, growing at a CAGR of 0.1% during the forecast period. The growth in the salt mining market is due to increasing demand for mining in North America.
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Major Players In The Mining, Iron Ore Mining, And Salt Mining Industry
Major players in the global mining market include BHP Billiton Ltd, Glencore plc, Vale SA, Rio Tinto Group, and CRH Pl.
Major players in the global iron ore mining market include Arcelor Mittal, Nippon Steel & Sumitomo Metal Corporation (NSSMC), POSCO, TATA STEEL, and VALE.
Major players in the global salt mining market include China National Salt Industry Corporation (CNSIC), Akzonobel N V, Infos, K+S, and Rio Tinto Plc.
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