Business

Autonomous Haulage Truck Market Progresses for Huge Profits During by 2026

Haulage trucks are utilized to transport waste and ore produced in mines. Autonomous haulage trucks utilize global positioning system (GPS) to connect with a centralized computer and other haulage trucks in the fleet. These trucks travel along a fixed route and can work continuously.

The global autonomous haulage truck market is primarily driven by increased emphasis of mining companies on reduction of expenditure over labor and enhancement of overall efficiency by boosting the performance of haulage trucks. Moreover, autonomous haulage trucks provide ease of maneuverability over short distances, such as a mining field, and hence, mining companies prefer trucks instead of rail vehicles. Autonomous haulage trucks are capable of reducing labor costs by up to 80%, which in turn is fueling the demand for autonomous haulage trucks.

However, higher cost of autonomous hauling trucks is primarily restraining the global autonomous haulage truck market.

The global autonomous haulage truck market can be segmented based on truck capacity, application, mine type, and region. In terms of truck capacity, the global autonomous haulage truck market can be segregated into three segments. Mining companies prefer high capacity haul trucks in order to compete with productivity of draglines and excavators. Thus, medium capacity and high capacity haul trucks account for a major share of the market, in terms of revenue.

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Based on application, the global autonomous haulage truck market can be classified into three segments. Surge in demand for metals and minerals is prompting mining companies to increase production, which in turn is fueling the demand for autonomous haulage trucks for metal and mineral mines. Metal and mineral mining companies are focused on enhancing overall productivity of their mines and hence, they are adopting advanced technologies in order to reduce costs. This, in turn, is fueling the demand for autonomous haulage trucks.

Based on mine type, the global autonomous haulage truck market can be bifurcated into surface mines and underground mines. Autonomous haulage trucks are extensively employed in surface mines, thus the surface mine segment accounts for a notable share of the market, in terms of revenue.

In terms of region, the global autonomous haulage truck market can be segmented into five regions. North America has a prominent mining industry. Lack of availability of labor, increased per capita income, rise in adoption of technology, increased preference for enhancing mine productivity, and availability of advanced technology and solutions providers have fueled the adoption of automated vehicles in the mining industry. Consequently, North America accounts for a major share of the global market, in terms of revenue. Several countries from Asia Pacific, such as Australia, are home to leading global mining corporations, such as Rio Tinto. These are highly focused on adopting advanced mining solutions in order to enhance productivity, which in turn is fueling the demand for autonomous haulage trucks.

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Key players operating in the global autonomous haulage truck market are Komatsu Ltd., Caterpillar, AB Volvo, Autonomous Solutions Inc., Scania, and Hitachi, Ltd.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.