The global Smart Mining Market size is projected to reach $24,078.8 Million in 2027, from $10,056.9 Million in 2020, growing at a CAGR of 13.3% from 2021 to 2027.
Smart mining is a process that uses information, autonomy, and technology to obtain enhanced safety, reduce operational costs, and gain better productivity for a mine site. Mining corporations emphasize on enhancing productivity by providing state-of-the-art software & solutions. It also comprises remote-controlled robotic equipment for mineral & metal extraction, which is stated as telerobotic mining, and decreases the danger for miners.
Major Players in the market includes Cisco Systems Inc., Wenco International Mining Systems Ltd, SAP SE, Rockwell Automation Inc., Komatsu Mining Corporation (Joy Global), Symboticware Inc., ABB Ltd, Trimble Inc., IBM Corporation, Atlas Copco, Outotec OYJ, Hexagon AB, Intellisense.IO and ABB Ltd.
Hitachi Construction Machinery Co., and its consolidated subsidiary, Wenco International Mining Systems Ltd. (“Wenco”) Sept 2020 have jointly developed “ConSite Mine,” which helps resolve problems at mine sites by remotely monitoring mining machines on 24/7 basis through the use of IoT and AI based analysis of equipment operations data. Hitachi Construction Machinery has developed this technology to help customers and Hitachi Construction Machinery dealers predict costly maintenance issues before they occur, such as the occurrence of cracks in and excavator boom or arm by utilizing machine learning and applied analysis technologies. Detailed information from these predictive alerts are provided on the web-based ConSite® Mine dashboard and other items.
Environmental Protection Law and others by several governments to control emission & air pollution for environment protection are projected to offer remunerative opportunities for the Smart Mining Market growth during the forecast period.
The Aspect of Smart mining In future- The applications of artificial intelligence in the mining industry are uncountable. With the Green Revolution already in progress, the need for raw materials such as silicon for Solar PV panels and Lithium for batteries is significantly increased. Artificial intelligence shifts raw materials mining from a people-oriented operation to a process-oriented one, which is critical to ensure appropriate health and safety conditions for the mineworkers, a high level of accuracy, error elimination, and a faster decision-making process. With the mining sector requiring more and more effective and efficient operations such as autonomous mining, the industry requires investments in various artificial intelligence technologies. Some mining companies would like to invest while some others are not yet ready. But either way, the need for smart mining is already here.
Secure Ops for Mining:
The Cisco Secure Ops Solution is a next-generation cybersecurity, secure-access, and compliance solution for critical infrastructure. The solution provides a highly secure industrial automation and control systems environment to protect workers and remote mining locations in the Mining industry. Delivered as a managed service, the Cisco Secure Ops Solution combines on-premises technology and processes to implement and maintain layered security controls.
By type, the market is segmented into underground mining and surface or open pit mining. By application it classified on Metallic Mine, Coal, Non-metallic Mine and Other. Geographically, the global smart mining market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Russia, Germany, the UK, Sweden, and rest of Europe), Asia-Pacific (China, Australia, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific is expected to hold the largest share of the market throughout the study period, and LAMEA is expected to grow at the fastest rate. The Smart Mining market in the U.S. is estimated at US$2.5 Billion in the year 2020. Further the considering other geographic markets are Japan and Canada, each forecast to grow at 17.9% and 16.9% respectively over the 2020-2026 periods. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.5 Billion by the year 2027 trailing a CAGR of 18.8% over the analysis period 2020 to 2027.
The Global Underground Mining Diamond Drilling Market accounted for $418.56 Million in 2020 and is expected to reach $692.10 Million by 2027 growing at a CAGR of 6.9% during the forecast period.
Major Players in the Market includes Atlas Copco, Boart Longyear, FORDIA, Geomachine Oy, Sandvik, Sinocoredrill Group, VersaDrill Canada, Wuxi Geological Drilling Equipment and Zinex Mining.
Thomas Schulz and an FLSmidth delegation attended and participated in the FT Mining Summit, where unequivocally investment, shareholder demands, technology and sustainability dominated the agenda. The frequent overlapping of these topics on the Summit agenda and in sessions only highlighted their growing importance and interconnectivity in mining’s current and coming narrative. Asked about his overall impression of the Financial Times Summit, Thomas noted how the industry’s relationship with investors and ESG is changing rapidly and at the highest level.
Oct 2020 Ausdrill having recently added a Boart Longyear LF160 drill rig and FL262 FREEDOM™ LOADER combination to its diamond drilling fleet in Australia, IM caught up with Eric Gobbert, Senior Operations Manager, Exploration, to find out more about the company’s ‘hands-off-steel’ initiatives. The newest coring rig – capable of pulling a 4.5 m sample – comes with a tilting top drive head to simplify rod handling, a foot clamp and braking device, and visible wireline. This is the second LF160 in Ausdrill’s portfolio, and a third rig is on the way. Meanwhile, the company is actively exploring a similar system capable of offering 6 m samples. One rig is currently active at a Queensland coal operation, with the second at a nickel operation in the Goldfields of Western Australia. The third is expected to go to the Pilbara iron ore sector. It is the combination of the LF160 with the FL262 FREEDOM LOADER that is bringing safety benefits to Ausdrill and its customers.
Boart Longyear March 2020 drilling team had begun their underground coring activities, when they unexpectedly drilled into a cavity of water. Time is of the essence in these situations and a lot of communication is required to keep people safe and to handle the problem before it becomes even more difficult to manage. In order to shut off the water coming into the mine, the team successfully installed a cement collar casing using a pressure-grouting method, a blow-out preventer (BOP) and rock pack. The BOP is used to seal, control, and monitor water which will prevent future blow outs and any possible uncontrolled release of high-pressure water. This solution allowed the crew to manage the water, keeping the mine clear and dry so the exploration drilling project could be completed.
Sandvik has decided to establish a new business area, Sandvik Rock processing solutions as of 1January 2021. The new business area will consist of the current crushing and screening division, which today is Part of the Sandvik Mining and Rock Technology business area. The reason for this structural change is to further accelerate profitable growth within rock processing based on crushing and screening addressing separate parts of the value chain and facing different competition to the other sandvik Mining and Rock Technology divisions
Global Underground Mining Diamond Drilling Market, by Type Rotary Drilling and Wire line Drilling. By Application it has Soft Rock and Hard Rock. By region it splits into North America, Europe, ASPAC and Middle East & Africa. North America is the largest revenue-generating region in the underground mining diamond drilling market in 2020 and is anticipated to continue its dominance in the market by 2026. In North America, US dominated the underground mining diamond drilling market. Some players in North America supply core drill bits along with complete drill rigs solutions. These include Peak Drilling Ltd., SCS Diamond Drilling, and American Diamond Tool. The market in Canada is anticipated to expand at a rapid pace in the upcoming future.
The global Metal Powder Market size was valued at USD 5.9 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.1% from 2020 to 2026.
Metal Powder is which used to manufacture galvanized steel and to create brass. It is also used in certain types of paints and for precision die casting as well as for plating other types of metals.
Market Competitors in the metal powder market consist of Sandvik, Alcoa, Laiwu Iron & Steel, Carpenter Technology, BASF, Advanced Metallurgical Group, ATI, Höganäs AB, GKN Hoeganaes and more.
Sandvik has signed an agreement on Nov 2020 to acquire US based CGTech, which makes software for numerical control (NC/CNC) simulation, verification and optimization. CGTech also supplies Vericut, a machining simulation and optimization software which is CAM, machine tool manufacturer and cutting tool neutral and works stand alone or in conjunction with all major CAM suppliers, the company said. The company will be reported in Sandvik Coromant, a division within Sandvik Machining Solutions. Further In Sept 2020 Sandvik new powder plant in Sweden Has recently received the ISO 13485 medical certification for osprey titanium powders, now approved for use in the additive manufacturing of medical applications. 3D printing of implants enables rapid manufacturing directly from an individual’s anatomical data-enhancing the healing process and improving the prognosis for the patient.
SINTX Technologies, which makes silicon nitride ceramic for medical and non-medical applications, has received a US patent covering a variety of biomedical implants. The company’s silicon nitride can now be applied to the implants in order to improve their antibacterial characteristics. In the biomedical space, SINTX can now add its material to biomaterials such as polyether ether ketone (PEEK) and titanium. The company says that it has already developed a composite of silicon nitride and PEEK and expects to launch the product in early 2021. SINTX also provides silicon nitride in other forms such as sintered powders and soluble fractions,. The company next plans to leverage the antipathogenic properties of silicon nitride, and increase its IP portfolio in that area.
VELO3D has introduced Sapphire XC, Nov 2020 a large-format 3D printer that could increase production throughput by 5X and reduce cost-per-part by up to 75% when compared to the existing Sapphire system. Sapphire XC has a build volume of 600 mm x 550 mm compared to 315 mm x 400 mm in the existing Sapphire system, and eight lasers x 1,000W each, compared to 2 lasers x 1,000W. The company also announced plans to roll out Sapphire Gen 2, a software and hardware upgrade to the current system. According to VELO3D, the upgrade could lead to an improvement of anywhere between 10-50% in productivity and part cost metrics when compared to the current Sapphire system. The Sapphire Gen 2 upgrade will be available to retrofit on all installed systems starting in Q2 2021.
Horizon Technology, St. Mary’s, Pennsylvania, USA, highlighted the use of Powder Metallurgy Soft Magnetic Composites (SMCs) in the production of electric motors. Comparing both electrical steel laminations and SMC methods, Horizon stated that while both have their benefits, they also have some problems, including core losses, shape-making limitations, and overheating.
In March 2020, iron powder shipments witnessed a y-o-y decline of 19.4% in North America. As per the local government regulations, numerous companies observed temporary closure of the non-essential businesses in the first half of 2020. However, the market is expected to take a U-shape or W-shape recovery curve in the next 12 to 18 months with the gradual increase in automotive production.
Market segmentation classified on the basis of their type, application and region. By Type it has (Ferrous, Non-Ferrous, and Others). By application it consist (Automotive, Aerospace & Defense, Healthcare and Others). By region it has spread in North America, Europe, ASPAC and ROW. North America is projected to expand at a growth rate of 6.9% from 2020 to 2026. The increasing popularity of electric and hybrid vehicles has primarily decreased the demand for various sintered parts in transmissions and engines in the region.
The global Mobile Hydraulic Equipment Market size is expected to reach $52,257.6 million in 2027, from $41,545.9 million in 2020, growing at a CAGR of 3.9% from 2020 to 2027.
Major players in the market include, DAIKIN INDUSTRIES, Eaton, Kawasaki Heavy Industries, Moog, Wipro Infrastructure Engineering, WEBER-HYDRAULIK Parker Hannifin and Robert Bosch.
In many major markets, evolving emissions and air quality regulations continue to affect construction OEMs who need to deploy machines that comply with more stringent regulations, yet are still equipped to perform the most demanding tasks. For example, in certain urban environments, noise and emissions regulations have led to OEMs launching all-electric, small skid loaders, wheel loaders, and other equipment capable of working in tight construction conditions.
Nov 2020-Hitachi Construction Machinery plans to add the EX2000-7 ultra-large hydraulic excavator to its line of mining machinery. The redesigned unit, slated for introduction next year, is based on the current EX1900-6. The model reportedly will feature an entirely new hydraulic circuit that reduces fuel consumption by up to 19% with no loss in productivity.
The Association for the Work Truck Industry announced it will not be possible to produce Work Truck Week in its traditional in-person format next year. North America’s largest work truck event, originally scheduled March 9–12, 2021, in Indianapolis, includes The Work Truck Show and Green Truck Summit. While there are no plans to hold Work Truck Week virtually, NTEA is exploring new opportunities to share education and connect industry businesses. Work Truck Week will return to Indianapolis March 8–11, 2022.
Oct 2020 head of the Institute of Mechatronic Engineering at Technical University Dresden, offered an ambitious and optimistic view of the industry’s future, along with the challenges. In his keynote presentation, “Digital Mobile Machines — From Cloud to Earth,” he predicts what lies ahead for mobile hydraulics and off-road technology.
Bucher Hydraulics has introduced on Sept 2020 the newly designed excavator pipe-rupture valve CFS-EF, or “CFS-Flat.” Reportedly an innovative extension of the company’s family of CFS pipe-rupture valves, the new version is based on proven technology and, with a flat design, allows for ready installation on lift cylinders without a sandwich plate. The series CFS (Compact Flow Control and Safety Valve) excavator pipe-rupture valves to prevent uncontrolled lowering of an actuator in the event of a pipe or hose rupture. The valves can used wherever required by standards ISO 8643, EN 474 and DIN 24093 for excavators with a lifting device (for example, a load hook on the bucket.
Power management company Eaton announced it has entered into an agreement to sell its Hydraulics business to Danfoss A/S, a Danish industrial company, for $3.3 billion in cash. This represents a 13.2 multiple of 2019 EBITDA. Eaton’s Hydraulics business, which accounted for 86 percent of Eaton’s Hydraulics segment revenue in 2019, is a global leader in hydraulics components, systems, and services for industrial and mobile equipment. The business had sales of $2.2 billion in 2019 and employs approximately 11,000 people. Eaton is retaining the Filtration and Golf Grip businesses currently reported in the company’s Hydraulics segment.
The global hydraulic equipment market is segmented into application, end user, product, and region. By application, the market is classified into mobile and industrial. BY end user, it is segregated into mining & construction, agriculture & forestry, packaging, material handling, and other (paper, plastic, rubber and printing). On the basis of product, it is fragmented into pumps, motors, valves, and cylinders. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia Pacific dominated the global mobile hydraulic equipment market and is projected to expand at a rapid pace during the forecast period. This can be attributed to increasing government focus on modern irrigation machinery owing to growing industrialization and globalization coupled with growing construction activities, which is expected to propel the mobile hydraulic equipment market in the region.
Global Contract Catering Market is expected to grow at a CAGR of 5.2% from 2019 to 2026.
Major Competitors in the Contract catering market includes Compass Group, Sodexo, Aramark, Baxterstorey, Elior Group, Ch & Co Catering, MITIE Catering Services and Pasta Category.
Catering providers have been on a silent mission to reshape the industry and inspire workplaces across the country for many years. With ‘health and wellbeing’ no longer viewed as a buzz-term, instead an integral part of everyday life, it’s time to check in and see how this endeavour is going and how it aligns with wider facilities management undertakings. Vacherin,London's premier contract caterer, believes the catering offering in an organisation could be the missing part of the UK’s ongoing productivity puzzle.
Contract catering has evolved to serve an exceptionally broad slice of UK Plc. – generating £4.7b of turnover last year. The lion’s share comes from business and industry (B&I), namely staff dining, which contributes about half of contract catering’s total turnover – far more than any other single area of operation. It is no secret that contract catering has grappled with its reputation, and somewhat unjustly. Alas, it appears to have found its feet in recent years, concreting its place and carving its niche by accompanying the ongoing strive for optimum workplace wellbeing. Long gone are the days of offering stale sandwiches, pre-packed Caesar salads with sachet sauces and squares of Bakewell tarts - and those offerings have been off the menu for a while.
Elior France announced Oct 2020 its intention to launch a job protection plan in its Business & Industry contract catering activity. Well before the crisis, Elior had embarked on a thorough business transformation, launching culinary and digital innovations to propose catering offerings more closely aligned with the new expectations of Business & Industry clients and guests. We took additional action during the national lockdown in France to adapt to new market realities, such as systematically renegotiating clients’ contracts, using vacation days, setting up training sessions, drawing on internal mobility, and using government-sponsored furlough and partial activity work programs.
Elior Business & Industry and Arpège need to make more extensive structural changes to ensure their long-term viability. That is the aim of the plan presented to the Company’s employee representatives today. This reorganization would entail the elimination of 1,888 positions, spread out over nearly 1,260 B&I sites operated by Elior Entreprises and Arpège across France.
Mitie supports Yorkshire Ambulance Service with new contract. Mitie is delivering maintenance and engineering services for 100 sites across the entire Yorkshire region The new partnership, which began on 1 April 2020, sees Mitie provide technical services to 100 YAS sites covering the entire region for five years, with the option to extend for a further two years. The YAS estate consists of a range of sites across Yorkshire and the Humber, all of which are crucial to its operations. This includes 61 Ambulance Stations, which require regular maintenance and a rapid response to the failure of critical equipment, such as garage shutters and doors which enable the ambulances to exit quickly.
BaxterStorey Sept 2020 has joined forces with more than 20 leading companies and individuals from the food service sector to launch Food Service Circle’ (FSC) – a platform aiming to offer support to those affected by the economic fallout of the COVID-19 pandemic. With reduced building occupancy a major concern for businesses, approximately 20% of the hospitality workforce is expected to be made redundant or face significantly reduced hours. As a result, the industry has come together to create a support network to allow them to stay connected and continue to develop their skills and knowledge as they seek new employment. FSC, which has launched on Sept 2020, will act as a one-stop shop for all former team members, offering free training, counsel, advice and job opportunities.
Global Contract Catering Market by Contract Type, by application, By Region. Based on type it has Food Service Contractors and Caterers. By application it has Business & Industry, Hospital, Senior Care, Defense & Offshore, and Sports & Leisure. By region it splits into North America, Europe, South America, Asia-Pacific, Middle East, and Africa. North America is expected to be a lucrative region in the global contract catering market. For instance, according to Coherent Market Insights’ analysis, North America is expected to exhibit a CAGR of 6.0% in the contract catering market during the forecast period (2019-2027).
Remittance Market Size to Grow $930.44 Billion, Globally, by 2026: At 4.1% CAGR.
Major players in the market includes InstaReM PTE Limited, Vianext Fast Remit, ICICI Money2India, Remitly, bridge21, Xoom, Remit2India, Venstar Exchange, Western Union, MoneyGram, RIA Money Transfer, RemitMoney and OrbitRemit Money Transfer.
Oct 2020-Remittance boom is turning into a bust for emerging markets in Asia. Migrant workers from Asia’s developing countries have managed to send home record amounts of money in recent months, defying pandemic expectations and propping up home economies at a critical time. Remittance doomsayers see something else in the bigger-than-usual transfers: a coming crash, triggered by a bleak job market, particularly in the Middle East. As they see opportunity drying up along with demand for oil, workers are sending money home in advance of their own return.
In India-The government decision to tax remittances under the RBI’s Liberalized Remittance Scheme (LRS) has put investors who dabble in foreign stocks in a spot, but brokers said they should not be discouraged. As per the new rules, from October 1, tax collected at source (TCS) will be applicable on all remittances above Rs 7 lakh at the rate of 5 per cent. In case you do not provide your Aadhaar or PAN Card, a 10 per cent TCS will be applicable. The main purpose of introducing this tax was for the government to widen the tax net. As per the government's findings, many individuals utilizing the LRS were not paying taxes at all. The tax will impact Indian investors investing in overseas stocks, bonds and property as it increases the upfront costs of overseas investing and expenses.
Non-Resident Indians (NRIs) around the world sent a total of $83 billion to India in 2019, as per a World Bank report. NRIs often pay a heavy price to send their hard-earned money. In 2019, the average cost of sending $200 to India was 2.9% of the amount sent according to the World Bank data on remittances. On average, NRIs spent close to $2.4 billion in just fees and charges to send money home in 2019. According to the data above from the Reserve Bank of India, family maintenance and savings constitute a majority of the remittances sent to India along with money sent for investment purposes.
Segmentation of market depends on by Type it has Inward Remittance and Outward Remittance. By application, the market is classified into consumption, savings and investments. By end user, it is categorized into business and personal. Region wise, it is analyzed across South Asia/Southeast Asia, MENA and Rest of the World. North America dominated the market and held the largest market share in 2019. Several people migrate to North America in search of better job opportunities and education as well as for business purposes, thereby fueling the regional market growth. Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period. Growing base of customers that are comfortable with using mobile devices in Asia Pacific is expected to create growth opportunities for the regional market.