The development of the mining industry as a whole has entered the process of acceleration of electrification and automation.
Text: Technode
Author|icebinTypesetting|MizikoThis article is expected to take 10 minutes to read
Increasing demand for a variety of materials, coupled with the need to reduce emissions and increase productivity, has driven the widespread adoption of electric and automated mining vehicles. This trend will contribute to the growth of the mining industry in the future. Here's a detailed analysis of the five key takeaways from this trend.
01
The driving force of electric and automated mining equipment The invention of electric and automated machines is a major driver for the development and market growth of the mining equipment industry. With these machines, emissions can be reduced and productivity increased, not only for worker safety in mining environments, but also for meeting the growing global demand for materials. With the growing global population and increasing urbanization, the demand for mineral materials such as metals continues to increase, driving the growth of the overall mining equipment market. The growth of automotive production, machinery and equipment, infrastructure projects, and the development of electrification in various industries are all driving mining demand. For instance, Allied Market Research predicts that the global mining equipment market will grow at a compound annual growth rate (CAGR) of 4.1% by 2032, with a total value of $200,892.3 million. The company also predicts that the underground mining equipment market will also achieve a high growth rate of 4.9% by 2032, with a value of $32,974.5 million.
02
Operating costs and the popularity of electric mining equipment
Operating costs are key to the adoption of electric mining equipment. Electrification is not a new concept, but its popularity has increased in recent years as technology has advanced. IDTechEx predicts that the electric mining vehicle industry will be worth $23 billion by 2044 due to the scale of the industry. Emissions reductions play a role in driving the development of electric vehicles, but they are not the only factor. According to IDTechEx, the mining industry accounts for 2-3% of global carbon dioxide (CO2) emissions, nearly half of which comes from diesel engines. However, total cost of ownership (TCO) savings and safety improvements could be an even bigger driver for the industry to move to electric machines. Diesel-powered machines have higher fuel and maintenance costs, while electric machines have lower maintenance costs and lower energy costs, making it easier to install the necessary charging infrastructure. For underground mining in particular, the elimination of emissions is critical, as it reduces the need for expensive ventilation equipment, while at the same time reducing heat and noise in the working environment.
In its report, United Market Research noted that internal combustion engine-powered machines will continue to dominate, but electric machines are expected to see the largest growth by 2032, at a CAGR of 11.0%. According to IDTechEx, the electrification of underground mining equipment is focused on the safety and cost-effectiveness it brings. Compared to surface mining equipment, underground mining equipment is smaller and requires less battery power.
03
Improved battery and charging technologies drive electrificationImproved battery and charging technologies will drive electrification. Further development of battery and charging technologies is needed to ensure the continued adoption of electric mining equipment. Large machines, such as mining dump trucks, can require up to 2 MWh of power. Nickel-manganese-cobalt (NMC) and lithium iron phosphate (LFP) are commonly used battery types today, but research into other chemistries, such as lithium titanate (LTO) and sodium ion (Na-ion), may be beneficial for further electrification. Fast charging is an important factor in the promotion of electrification. Currently, charging can take several hours, but OEMs and suppliers want to reduce charging time to 10-20 minutes. Some OEMs are working on multi-gun charging and megawatt charging systems, but high-rate charging accelerates battery degradation and increases the frequency of battery replacement. Battery swapping is a quick-to-finish way to charge and maintain productivity.
04
Automated Mining Equipment Solves Labor Problems Automated mining equipment has been developed and tested for more than a decade. Workforce issues are a key driver for implementing automation. Automation can remove operators from harsh environments and attract more people to the industry. The mining industry is well suited to automation because of the remote location of the mine, the repetitive nature of the work, and the lack of external factors. Over the years, advances in sensors, software algorithms, and communication networks such as lidar and cameras have driven the development of mining automation. These technological advancements have enabled automation equipment to better detect objects in a variety of environments, driving the growth in the use of automation equipment. Significant progress has been made in the development of automated mining equipment. For example, Caterpillar and Komatsu are two of the most well-known OEMs working on this technology. Through continuous R&D and testing, they have driven the adoption of automated mining equipment. According to IDTechEx, the use of automated mining equipment has been growing steadily since the late 2010s, with a boom in adoption over the past five years. The number of automated mining vehicles in the global market has grown from 500 to more than 1,000.
05
Market competition and future outlook for practical, electric and automated heavy mining equipment market competition has begun. This trend will continue to accelerate in the future, especially driven by technological advancements and market demand. For example, at last year's CES, Hyundai, Bobcat, Volvo CE and Caterpillar automated electric equipment attracted a lot of attention for their innovative concepts. IDTechEx estimates that a 150-ton dump truck consumes more than $850,000 worth of fuel in a year. At the same time, large electric dump trucks, such as Caterpillar's 240-ton truck, can operate without significant charging costs in certain situations where heavy regenerative braking is used. At this point, electric vehicles (BEVs) offer less maintenance and downtime than diesel vehicles, making them the icing on the cake for the total cost of ownership (TCO). All of these factors suggest that the mining industry as a whole has entered an accelerated path of electrification and automation. In the future, with further advancements in technology and increasing market demand, the popularity of electric and automated mining equipment will continue to drive the development of the mining industry, bringing more economic and environmental benefits.
This article is an original article by TechNode reporters, and may not be reprinted without authorization.
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