Normet Pioneers 5G-Controlled Autonomous Loaders in Mining, Aiming to Slash Workforce by 90%
Finnish mining equipment manufacturer Normet is leading the way in autonomous underground loader testing using 5G technology, aiming to slash workforce numbers by 90% while boosting safety and productivity in the world market. This move is part of a broader trend driven by rising labor costs and technological advancements, with the global autonomous mining equipment market projected to reach USD 9.5 billion by 2034.
Metal mining is currently the largest sector, accounting for 49.2% of the market in 2024. Key applications include autonomous haulage systems in surface mines and automated drilling for resource extraction. However, the path to growth is not without challenges. Integration with existing infrastructure and social and regulatory concerns pose significant hurdles. In 2024, the market was valued at USD 3.7 billion, with hardware holding a dominant 47.8% share. Surface mining also held a commanding position, accounting for 69.3% of the market. The Asia Pacific region led the market in 2024, with a 42.8% share amounting to USD 1.5 billion. The increasing demand for safety and risk reduction is a major driver for this growth.
The global autonomous mining equipment market is expected to grow at a CAGR of 9.9%, reaching USD 9.5 billion by 2034. Companies like Normet are at the forefront of this revolution, testing autonomous loaders controlled via 5G to reduce workforce numbers and improve safety and productivity in the stock market today. Despite challenges in integration and regulation, the market's growth is driven by the increasing demand for safety and risk reduction in the stock market.
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