1 Global Autonomous Mining Equipment and Vehicles Market Sales (Units) by Manufacturer
In 2018, the sales of autonomous mining equipment and vehicles among the leading manufacturers were as follows: Caterpillar Inc. sold 70 units, Komatsu LTD sold 58 units, Hitachi Construction Machinery Co., Ltd sold 19 units, Sandvik AB sold 15 units, Epiroc AB sold 11 units, Hexagon AB sold 8 units, and other manufacturers combined sold 19 units, making a total of 200 units sold in the industry that year.
By 2023, the projected sales for the same manufacturers are expected to increase significantly: Caterpillar Inc. is forecasted to sell 162 units, Komatsu LTD 151 units, Hitachi Construction Machinery Co., Ltd 56 units, Sandvik AB 34 units, Epiroc AB 31 units, Hexagon AB 15 units, and other manufacturers are expected to sell 36 units. The total sales for the industry in 2023 are projected to reach 485 units.
Table Global Autonomous Mining Equipment and Vehicles Sales (Units) by Manufacturer (2018-2023)
|
|
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
|
Caterpillar Inc. |
70 |
105 |
84 |
72 |
136 |
162 |
|
Komatsu LTD |
58 |
85 |
128 |
182 |
120 |
151 |
|
Hitachi Construction Machinery Co., Ltd |
19 |
23 |
14 |
22 |
42 |
56 |
|
Sandvik AB |
15 |
17 |
14 |
18 |
28 |
34 |
|
Epiroc AB |
11 |
14 |
12 |
16 |
23 |
31 |
|
Hexagon AB |
8 |
10 |
7 |
11 |
13 |
15 |
|
Others |
19 |
26 |
20 |
26 |
28 |
36 |
|
Total |
200 |
280 |
279 |
347 |
390 |
485 |
2 Global Autonomous Mining Equipment and Vehicles Market Sales Share by Manufacturer
In 2018, the market share for autonomous mining equipment and vehicles was distributed as follows: Caterpillar Inc. held the largest share with 35.00%, followed by Komatsu LTD at 29.00%. Hitachi Construction Machinery Co., Ltd had a 9.50% share, Sandvik AB 7.50%, Epiroc AB 5.50%, Hexagon AB 4.00%, and other manufacturers collectively accounted for 9.50% of the market.
By 2023, the projected market share distribution is expected to be: Caterpillar Inc. with 33.40%, Komatsu LTD at 31.13%, Hitachi Construction Machinery Co., Ltd at 11.55%, Sandvik AB at 7.01%, Epiroc AB at 6.39%, Hexagon AB at 3.09%, and other manufacturers at 7.42%.
Table Global Autonomous Mining Equipment and Vehicles Sales Market Share by Manufacturer (2018-2023)
|
|
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
|
Caterpillar Inc. |
35.00% |
37.50% |
30.11% |
20.75% |
34.87% |
33.40% |
|
Komatsu LTD |
29.00% |
30.36% |
45.88% |
52.45% |
30.77% |
31.13% |
|
Hitachi Construction Machinery Co., Ltd |
9.50% |
8.21% |
5.02% |
6.34% |
10.77% |
11.55% |
|
Sandvik AB |
7.50% |
6.07% |
5.02% |
5.19% |
7.18% |
7.01% |
|
Epiroc AB |
5.50% |
5.00% |
4.30% |
4.61% |
5.90% |
6.39% |
|
Hexagon AB |
4.00% |
3.57% |
2.51% |
3.17% |
3.33% |
3.09% |
|
Others |
9.50% |
9.29% |
7.17% |
7.49% |
7.18% |
7.42% |
|
Total |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
3 Global Autonomous Mining Equipment and Vehicles Market Revenue by Manufacturer
In 2018, the revenue generated by the autonomous mining equipment and vehicles industry was distributed among the manufacturers as follows: Caterpillar Inc. led with a revenue of 349.92 million USD, Komatsu LTD generated 323.18 million USD, Hitachi Construction Machinery Co., Ltd contributed 81.92 million USD, Sandvik AB had 42.28 million USD, Epiroc AB earned 31.08 million USD, Hexagon AB contributed 23.68 million USD, and other manufacturers collectively brought in 79.80 million USD, totaling 931.85 million USD for the industry that year.
By 2023, the projected revenues for the industry are expected to be: Caterpillar Inc. with 800.64 million USD, Komatsu LTD at 816.93 million USD, Hitachi Construction Machinery Co., Ltd at 257.07 million USD, Sandvik AB at 98.22 million USD, Epiroc AB at 89.61 million USD, Hexagon AB at 46.12 million USD, and other manufacturers at 148.90 million USD, summing up to an anticipated total revenue of 2257.49 million USD for the industry.
Table Global Autonomous Mining Equipment and Vehicles Revenue (M USD) by Manufacturer (2018-2023)
|
|
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
|
Caterpillar Inc. |
349.92 |
507.28 |
394.16 |
352.85 |
685.02 |
800.64 |
|
Komatsu LTD |
323.18 |
463.58 |
674.70 |
988.52 |
662.75 |
816.93 |
|
Hitachi Construction Machinery Co., Ltd |
81.92 |
101.81 |
60.80 |
100.31 |
195.41 |
257.07 |
|
Sandvik AB |
42.28 |
49.37 |
39.70 |
52.44 |
82.72 |
98.22 |
|
Epiroc AB |
31.08 |
38.72 |
32.18 |
44.58 |
65.39 |
89.61 |
|
Hexagon AB |
23.68 |
30.20 |
20.83 |
33.85 |
41.39 |
46.12 |
|
Others |
79.80 |
107.55 |
81.05 |
108.70 |
118.52 |
148.90 |
|
Total |
931.85 |
1298.51 |
1303.42 |
1681.26 |
1851.20 |
2257.49 |
4 Global Autonomous Mining Equipment and Vehicles Market Revenue Share by Manufacturer
In 2018, the revenue share for autonomous mining equipment and vehicles among the manufacturers was led by Caterpillar Inc. with 37.55%, followed by Komatsu LTD at 34.68%. Hitachi Construction Machinery Co., Ltd held 8.79%, Sandvik AB had 4.54%, Epiroc AB contributed 3.34%, Hexagon AB had 2.54%, and other manufacturers collectively accounted for 8.56% of the revenue share.
By 2023, the projected revenue share distribution is expected to be: Caterpillar Inc. with 35.47%, Komatsu LTD at 36.19%, Hitachi Construction Machinery Co., Ltd at 11.39%, Sandvik AB at 4.35%, Epiroc AB at 3.97%, Hexagon AB at 2.04%, and other manufacturers at 6.60% of the total revenue share.
Table Global Autonomous Mining Equipment and Vehicles Revenue Share by Manufacturer (2018-2023)
|
|
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
|
Caterpillar Inc. |
37.55% |
39.07% |
30.24% |
20.99% |
37.00% |
35.47% |
|
Komatsu LTD |
34.68% |
35.70% |
51.76% |
58.80% |
35.80% |
36.19% |
|
Hitachi Construction Machinery Co., Ltd |
8.79% |
7.84% |
4.66% |
5.97% |
10.56% |
11.39% |
|
Sandvik AB |
4.54% |
3.80% |
3.05% |
3.12% |
4.47% |
4.35% |
|
Epiroc AB |
3.34% |
2.98% |
2.47% |
2.65% |
3.53% |
3.97% |
|
Hexagon AB |
2.54% |
2.33% |
1.60% |
2.01% |
2.24% |
2.04% |
|
Others |
8.56% |
8.28% |
6.22% |
6.47% |
6.40% |
6.60% |
|
Total |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
5 Autonomous Mining Equipment and Vehicles Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
At present, the Autonomous Mining Equipment and Vehicles players have formed a competition form between the first tier and the second tier and the third tier.
Note: the 3 tiers of companies are defined based on their revenue in Autonomous Mining Equipment and Vehicles as of 2021. Tier 1=> US$ 500 million, Tier 2= US$ 100 million to US$ 500 million, and Tier 3=< US$ 100 million.
Table Global Autonomous Mining Equipment and Vehicles by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Autonomous Mining Equipment and Vehicles as of 2022)
|
|
2022 |
Company Type |
|
Caterpillar Inc. |
685.02 |
Tier 1 |
|
Komatsu LTD |
662.75 |
Tier 1 |
|
Hitachi Construction Machinery Co., Ltd |
195.41 |
Tier 2 |
|
Sandvik AB |
82.72 |
Tier 3 |
|
Epiroc AB |
65.39 |
Tier 3 |
|
Hexagon AB |
41.39 |
Tier 3 |
6 Top 3 Revenue Market Share of Autonomous Mining Equipment and Vehicles Companies in 2022
In 2022, the top three manufacturers in terms of revenue share in the autonomous mining equipment and vehicles industry were Caterpillar Inc. with 37.00%, Komatsu LTD with 35.80%, and Hitachi Construction Machinery Co., Ltd with 10.56%. These companies collectively accounted for a significant portion of the market’s revenue share.
Figure Top 3 Revenue Market Share of Autonomous Mining Equipment and Vehicles Companies in 2022
7 Analysis of Caterpillar Inc.
Caterpillar Inc (Caterpillar) is a manufacturer of construction, transportation and energy equipment. It designs, manufactures, markets and sells construction and mining equipment, industrial gas turbines, forestry equipment, diesel-electric locomotives, and diesel and natural gas engines. The company’s product portfolio includes asphalt pavers, backhoe loaders, compactors, draglines, integrated systems, reciprocating engines and many other. Caterpillar also offers retail and wholesale financing solutions for Caterpillar products to customers and dealers.
In 2023, Caterpillar Inc.’s sales in the autonomous mining equipment and vehicles industry are projected to be 162 units. The price per unit is expected to be 4942 thousand USD, resulting in a total revenue of 800.64 million USD. The gross margin for the year is forecasted to be 30.46%, with a gross revenue of 243.86 million USD.
Table Caterpillar Inc. Autonomous Mining Equipment and Vehicles Sales, Price, Revenue, Gross Margin (2018-2023)
|
Caterpillar Inc. |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
|
Sales (Units) |
70 |
105 |
84 |
72 |
136 |
162 |
|
Price (K USD/Unit) |
4999 |
4831 |
4692 |
4901 |
5037 |
4942 |
|
Revenue (M USD) |
349.92 |
507.28 |
394.16 |
352.85 |
685.02 |
800.64 |
|
Gross (M USD) |
109.21 |
155.52 |
122.42 |
107.23 |
213.89 |
243.86 |
|
Gross Margin |
31.21% |
30.66% |
31.06% |
30.39% |
31.22% |
30.46% |
Table Product Overview
|
CAT® MINESTAR™ COMMAND The biggest development in technology over the last decade has been in machine automation, and Caterpillar has been a leader on the journey toward automation for many years. Today, Cat® MineStar™ Command solutions make it possible for miners to automate a single mining process, remotely control a single machine, automate multiple types of equipment across a mixed fleet, or implement a completely autonomous fleet of haul trucks that operate around the clock with no human intervention. The significant benefits of automation can be realized with even the simplest of applications. Individual technology offerings can be used alone or combined in multiple ways to take advantage of immediate productivity, efficiency and safety gains and serve as the building blocks leading to autonomous mining operations. |
Table Caterpillar Inc. Related Developments
|
Data | ||
|
Caterpillar Announces Investment in Lithos Energy Inc. to Further Battery Pack Development and Manufacturing January 6, 2023 |
Caterpillar Inc. (NYSE:CAT) announced the company is investing in Lithos Energy, Inc., a U.S.-based battery technology company that produces lithium-ion battery packs. Caterpillar’s investment in Lithos further demonstrates Caterpillar’s commitment to support customers in the energy transition with lower-carbon advanced power technologies for its hybrid and full-electric machines and power generation products. The company recently displayed four electric construction machine prototypes, including battery prototypes, at bauma 2022 in Munich, Germany and successfully demonstrated its first battery electric 793 large mining truck at its Tucson Proving Ground in Arizona. | |
|
Albemarle and Caterpillar Collaborate to Pioneer Sustainable Mining Technologies and Operations Sept. 27, 2023 |
Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, signed agreements with Caterpillar Inc. (NYSE: CAT) to collaborate on solutions to support the full circular battery value chain and sustainable mining operations. The collaboration aims to support Albemarle’s efforts to establish Kings Mountain, N.C. as the first-ever zero-emissions lithium mine site in North America. These efforts include utilization of next-generation, battery-powered mining equipment. Caterpillar and Albemarle signed an agreement making Albemarle’s North American-produced lithium available for use in Caterpillar battery production. The two companies will also explore opportunities to collaborate on research and development of battery cell technology and recycling techniques. | |
