Wilmington, Delaware, United States, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. -The global sensor based sorting machines for the mining market stood at US$ 120.4 million in 2022 and is projected to reach US$ 288.1 million in 2031. The global sensor based sorting machines for mining market is anticipated to expand at a CAGR of 10.5% between 2023 and 2031.
Sustainability, digitalization, and automated mining practices are the latest sensor based sorting machines for mining market trends, which emphasize on waste reduction, energy efficiency, and a lower environmental footprint.
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Key players seek to expand globally by launching efficient solutions and are investing significantly in the R&D of new products to expand their product portfolio. However, maintenance & downtime, changing regulations, complexities related to integration, and higher initial costs are likely to negatively impact the market's growth.
Mining minerals involves various processes such as crushing, grinding, and separating ore from contaminated, large amounts of impurities. These methods require advanced sorting technology for mining, such as sensor based sorting, which has the potential to address the challenges that the industry faces.
Installation of automated sorting solutions in mining equipment increases the growth potential and economies of scale and helps in the reduction of operational costs by facilitating many process advantages. Issues such as declining ore grades, water shortage, and increasing environmental regulations can be easily addressed with the help of these machines, leading to the growth of sensor based sorting machines for the mining industry.
Competitive Landscape of Sensor Based Sorting Machines for Mining Market
- Allgaier Process Technology
- CSG manufacturing centeris
- HPY SORTING
- IMS Engineering
- Leevams Incorporated
- Redwave
- Sesotec
- Stark Resources GmbH
- Steinert Global
- TOMRA
Key Takeaways of the Market Report
- Global sensor based sorting machines for the mining market to generate absolute dollar opportunity worth US$ 288.1 million until 2031.
- Global sensor based sorting machines for the mining market from 2023 to 2031 is 10.5%
- The global sensor based sorting machines for mining market is valued at US$ 139.4 million in 2023.
- The global sensor based sorting machines for the mining market stood at US$ 120.4 million in 2022.
Sensor Based Sorting Machines for Mining Market: Growth Drivers
- The global market is driven by higher demand from the mining sector across various developing countries. Sensor based sorting machines for mining market revenue and foreign exchange is mainly derived from the mining industry. Thus, governments take initiatives to support the growth of the sorting and separation machinery for the mining sector.
- Selective mining and processing are approaches that can be used to efficiently mine and process low grade ores. Selective processing control can be implemented using algorithms based on sensor input, which provides the benefit of reducing potential human error.
- Sensor-based ore sorting technology in mining provides real-time data that may be used to optimize production and reduce unnecessary processing of waste, which supports the sensor based sorting machines for mining market demand.
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Sensor Based Sorting Machines for Mining Market: Regional Landscape
- According to the latest sensor based sorting machines for mining market forecast, North America is the dominant region and expected to account for higher share. Favorable government initiatives, substantial investment, technical advancement, and growth in the mining sector are driving the market statistics in the region.
- The sector in Asia Pacific is expected to grow at a steady pace during the forecast period. Rise in adoption of automated mining sorting equipment, strong growth of the mining sector, and favorable government regulations are boosting the sensor based sorting machines for mining market value in the region.
Sensor Based Sorting Machines for Mining Market: Key Developments
- Marula Mining, an African mining and development company, announced plans to enhance production at the Blesberg lithium and tantalum mine. The company has entered into an agreement with Q Global Commodities to acquire two sensor-based, XRF ore sorting plants. These plants will initially focus on increasing the production of high-grade spodumene ore from existing stockpiles.
Sensor Based Sorting Machines for Mining Market: Segmentation
- By Type
- Chute Type
- Belt Type
- By Sorting Type
- Bulk Sorting
- Particle Sorting
- By Technology
- Laser Sorters
- X-Ray Transmission
- Color Based
- Near-infrared
- XRF (X ray fluorescence)
- LIBS Technology
- Combination of Different Technologies
- By Processing Capacity
- Up to 150 Ton/hr
- 150 to 250 Ton/hr
- 250 to 350 Ton/hr
- Above 350 ton/hr
- By Application
- Metallic
- Non-metallic
- By Distribution Channel
- Direct Sales
- Indirect Sales
- Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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