Market Research Report
Australia Mining Logistics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
|Australia Mining Logistics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)|
Published: April 28, 2022
Mordor Intelligence Pvt Ltd
Content info: 120 Pages
Delivery time: 2-3 business days
Australia Mining Logistics Market size is expected to expand at a compound annual growth rate (CAGR) of more than 4% during the forecast period.
The COVID-19 had impact on mining industry in the country, which further effected mining logistics market. In addition, mining exploration expenditure was declined in 2020 because of pandemic crisis. But now the industry is recovering and reaching to pre pandemic levels.
However, mining has long been a cornerstone of the Australian economy and the gold rushes were pivotal in the early development of the country. Australia is presently in the midst of yet another minerals boom, exhibited by both high prices for, and record export volumes of mineral commodities, especially iron ore and coal. This follows previous minerals booms in the early 1960s and mid-1980s. The present boom is underpinned by high demand for primary commodities in the industrializing economies of China and India.
Despite the pandemic crisis many gold mines have continued to increase levels of production with Newmont Corporation, Northern Star Resources and Kirkland Lake Gold being some of the highest gold producers. This uptake in production has increased growth in mining equipment demand and production and contributing to improving employment rates within the resources sector.
According to trade data released by the Australian Bureau of Statistics, mining has powered Australia's economic recovery during the COVID-19 pandemic with record high export revenue for iron ore, gold, and copper in 2020. In addition, Australia's resources exports including minerals, metals, and energy commodities, generated USD 270 billion in export revenue for the economy and accounted for 62 per cent of total export revenue.
In 2020, Iron ore exports increased by 20 per cent (total was USD 116 billion), breaking the USD 100 billion export revenue ceiling for the first time in a boom calendar year for commodity exports. Also, the last month of 2020 recorded USD 12.6 billion in iron ore export revenue, breaking the previous record of USD 11.2 billion in October 2020.
According to Minerals Council of Australia, In August 2021, Australia exported USD 33.9 billion of mineral, metal and energy commodities which accounted for 69% of export revenue and set a record in trade. In addition, Iron ore exports remained Australia's largest export, which is driven by increasing demand from steel-making commodity, resulting in iron ore exports of USD 15.5 billion, with 52% year-on-year growth in August 2021.
Every industry is facing technological advances that are changing operations, developing the skills of workers, and improving efficiency. There's never been a better time for companies around the globe to implement digitization. Western Australia's mining sector is one industry that has transformed because of technology.
Automated vehicles, smart sensors and drones are just a few innovations that are currently redefining the sector and moving companies forward. In fact, according to an industrial organisation, autonomous haulage has helped improved mining productivity in Western Australia by 20 per cent.
With the introduction of more automation, mining companies will need to consider re-structuring their processes, and take on a more hybrid approach to mining. And with more demands for sustainability, the mining of the future will likely have a good balance of automation and human workers in different areas. Furthermore, private organizations are investing in mining exploration, which helps in improving knowledge about the location, type, quantity, and quality of deposits. Mineral exploration expanded by more than 28% to AUD 3.58 billion in 2021 when compared to 2020. Furthermore, gold has attracted the most mineral exploration expenditure, overtaking iron ore.
The Australia Mining Logistics market competition is fragmented in nature with multiple domestic and international players, organized and unorganized small players operating in the market. There are several large and small companies operating in the mining logistics industry providing both storage and transport facilities. Some of the major players include Toll Holdings Limited, UC LOGISTICS Australia, CENTURION, Tranz Logistics, and ATG Australian Transit Group.