Collision Avoidance System Market in Mining Sector Predicted to Reach at a Highest CAGR of 10.2% from 2023-2030, Growth Opportunities, Challenges, Size, Share, Demand, Outlook and Competitive Landscape
The Collision Avoidance System Market in Mining Sector report provides a detailed analysis of the global market size, regional and country-level market size, segment growth, market share, competitive landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunity analysis, strategic market growth analysis, product launches, and technological innovations.
New York, June 12, 2023 (GLOBE NEWSWIRE) — Delvens has published a latest market research report on “Collision Avoidance System Market in Mining Sector Size, Share & Trends Analysis Report, By Mining (Device, Technology), By Mine Category (Metals, Coal, Others), and by Region (North America, Europe, Asia-Pacific, Middle East, and Africa and South America)”. The global Collision Avoidance System Market in Mining Sector report is prepared in collaboration with the leading industry experts and dedicated research analyst team to provide an enterprise with in-depth market insights and help them to take crucial business decisions. This report covers current market trends, opportunities, challenges, and detailed competitive analysis of the industry players in the market. The global Collision Avoidance System Market in Mining Sector size of 5,266.91 million USD in 2022 is projected to reach a CAGR of 10.2% from 2023-2030.
The Collision Avoidance System Market in Mining Sector report provides a detailed analysis of the global market size, regional and country-level market size, segment growth, market share, competitive landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunity analysis, strategic market growth analysis, product launches, and technological innovations.
Major Players Covered in this Report are: Hexagon Mining, Caterpillar, Becker Mining Systems, AMTIL, LSM, Torsa
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Hexagon is a leading company to provide equipment for the mining industry. Hexagon work for multiple industries and operation they owned a subsidiary company that worked for the mining industry. They more focus on organic growth using fixed exchange rates and acquisitions. They widely spread their business geographically, with a broad customer base within numerous market segments.
Torsa not only providing own product they are also provided an on-demand product in collaboration with clients. The customized products allow the customer to make their composition and collaborative work culture for the customer and the company. Develop products through analysis of need, by various concepts, development of hardware (electronics and enclosures), software, and firmware until reaching a final prototype.
Collision Avoidance System Market in Mining Sector is segmented into various segments such as mining, mine category, and region:
On the basis of Mining, the market is segmented into
-
- Device
- Tags
- Antennas
- Camera
- Technology
- Global Positioning System (GPS)
- Radio Frequency Identification (RFID)
- Ultrasonic
- Device
On the basis of the Mine Category, the market is segmented into
-
- Metals
- Coals
- Others
On the basis of Geography, the market is segmented into
-
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
- South America
- Brazil
- Chile
- Argentina
- Rest of South America
- North America
Americas to Dominate the Market
South African mines were quick to take up this solution and apply it to their particular challenges. It quickly became clear that customers were looking for more functionality – and not just in terms of protection for pedestrians, but also ways of preventing collisions between vehicles.
47 percent of mines surveyed expected to either invest in the technology for the first time or invest more in the next two years. 40% of respondents had stated they were expecting to invest in the technology in the following two years. Overall, collision avoidance ranked top of 13 different technologies examined with another safety solution, fatigue detection, being identified by 45% of mines as expecting
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Over the next three decades, demand for critical minerals is expected to skyrocket. According to the International Energy Agency, annual demand for critical minerals from clean energy technologies will exceed $400 billion by 2050, which is equivalent to the current coal market’s annual revenues. The industry’s inability to meet demand could have serious consequences for the cost—and, ultimately, the pace—of global adoption and implementation of energy transition technologies. The raw materials are the most expensive component of an EV battery. The supply and price of input battery metals will have the greatest impact on whether EVs can compete with and eventually replace traditional internal-combustion vehicles. There is no doubt that the next generation of advanced technologies, such as collision avoidance systems, has the potential to significantly move us closer to zero harm. Analytics, when combined with the right data, can help businesses go beyond a simple analysis of past events to identify potential future scenarios that increase the likelihood of an incident occurring. These predictive models can aid in the prevention of safety incidents.
According to the study, vehicle interactions account for 35% of mining fatalities in Australia, with pedestrians and vehicles accounting for 53%.
Over 40% of serious injuries (fatalities and permanent disabilities) in the mining industry in the United States are caused by accidents classified as’ struck-by or caught-in machinery and powered haulage equipment.
As evidence, more than half of the mines are either planning to deploy or have already deployed CAS. Most have seen a significant decrease in collision-related deaths and injuries. While CAS systems may be viewed as the “silver bullet” for preventing fatal collisions, any collision avoidance technology must be viewed as part of a coordinated risk management solution across the modern mine-site.
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CAS must be at the forefront of our minds because it plays a critical role in today’s increased safety concerns, the need for greater sustainability, and the fact that we must decarbonize as a society both domestically and globally. 90% of leaders polled expect sales revenue to increase in the coming year, with growth ranging from 20% to 50% for one quarter. Growth is primarily driven by strong market demand as a result of urbanisation, with productivity-led growth also reported and enabled by increased technological investment. It is worth noting that commodity prices are not the primary driver of growth, implying that there are numerous new collaborative opportunities fuelling the expansion of mining industry. Companies are collaborating to address some of the most important challenges and opportunities in mining, such as decarbonisation and automation, while miners are still adjusting to the rapid pace of technological advancement.
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