Autonomous Mining Truck Market 'Set for Expansion'
The autonomous mining trucks Market is expected to grow by $10bn by 2030, a new report suggests. The market was valued at US $3.24bn in 2023, and this is predicted to increase to $13bn.
The report, from Stellar Market Research, is based on a combination of primary and secondary data from field experts.
Haul trucks are crucial assets in the mining industry and one of the most abundant and essential mining vehicles globally.
The autonomous mining trucks market offers self-driving vehicles able to improve efficiency and safety in mining operations. They navigate and avoid obstacles using radar and LIDAR sensors.
The market is driven by the increasing need for automation and smart mining technologies, even if obstacles such as sensor problems and environmental restrictions hinder market expansion.
Autonomous mining trucks market dynamics?
The market is expanding thanks to technological innovations such as AI and advanced sensors that improve truck efficiency and safety.
Big businesses such as Komatsu and Caterpillar are making significant investments in autonomous technologies.
The US Department of Energy, meanwhile, is encouraging growth in the autonomous haul truck market, by incentivising companies to make mines completely autonomous, to cut down on labour costs and increase productivity.
The autonomous mining trucks market is dominated by the Asia Pacific area, where nations such as China and India are embracing the technology at scale.
Most autonomous trucks are driven by diesel engines, but an increasing number of autonomous trucks are electric because such trucks are a significant source of CO2 emissions.
Electrifying haul trucks – whether autonomous or not – will be essential to helping mining companies meet their sustainability goals. The current global fleet of haul trucks emits a staggering 174 megatonnes of CO2 annually.
Much of the effort in electrifying haul trucks has come from mining companies and independent retrofitters, who modify existing diesel-powered trucks with battery or fuel cell technology.
This retrofitting process has been vital in reducing emissions and transitioning towards greener mining operations.
Glencore adopting automation technology
Typical of the growth in autonomous trucks is Glencore, the Swiss multinational commodity trading and mining company.
The company’s George Fisher Mine (GFM) in Queensland, Australia, is one of the largest zinc, lead and silver mines in the world.
Every year it produces approximately 3 million tonnes of ore and undertakes up to 12 kilometres underground development.
In recent years GFM has turned to automation technology to boost safety and efficiency levels, and now runs a fleet of new underground loaders that are part of a transformative automation project.
Sandvik’s LH517 high-capacity loader offers the integrated Sandvik Intelligent Control system for easy operation and fast maintenance. GFM has taken on a total of six new LH517i's to replace its legacy fleet.
Previously it relied on a tele-remote, co-pilot hybrid system with operators based mainly underground, controlling the machines.
Sandvik’s AutoMine product group offers autonomous and remotely operated mobile equipment, allowing operators to control and monitor multiple underground and surface machine operations from the comfort and safety of a remote-control room.
James Postle is Lead Automator Advisor at GFM, and says he is “passionate about automation and passionate about improving standards and practices”.
He adds: “Automation on the loaders allows for multiple machines to be operated by one person, and it has increased productivity. I'm excited to see what the technology has to offer the mining industry moving into the future. It's the right way forward.”
Key players in the autonomous mining trucks market include AB VOLVO, Daimler Truck, Tesla, Scania, Caterpillar, Volkswagen and Sandvik.