What Transformation Has the Green Mining Market Undergone?
The green mining market has seen considerable growth due to a variety of factors.
• The size of the green mining market has seen robust growth in the recent past. It is projected to expand from a market value of $10.57 billion in 2024 to $11.46 billion in 2025, representing a compound annual growth rate (CAGR) of 8.4%.
This growth during the historic period is seen as a result of the increasing demand for sustainable resources, cost reduction initiatives through efficiency, expectations of the community and stakeholders, initiatives for water and energy efficiency, as well as rehabilitation and restoration projects.
What Are the Future Growth Projections for the Green Mining Market?
The green mining market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the green mining market size is projected to experience robust growth, surging to $14.81 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 6.6%.
The anticipated growth during the forecasted period is largely due to factors such as circular economy strategies in mining, innovations in mining machinery, environment-friendly material processing, conservation of biodiversity, and initiatives toward responsibly sourced minerals. The forecast period will also witness major trends including the adoption of zero-emission vehicles and technologies, use of blockchain for ensuring transparency and traceability, carbon capture and storage (CCS), collaborations aimed at promoting sustainable mining practices, and advancement in sensor technologies.
Which Key Drivers Are Propelling Th Green Mining Market's Growth?
The green mining market is experiencing accelerated growth due to the rising demand for surface mining methods. Mining firms often opt for surface mining over underground mining for several considerations. In terms of cost, safety, and mining methods, surface mining, which includes strip mining, open-pit mining, dredging, high-wall mining, and mountaintop removal, is favored. As reported by Intech Open in 2022, open pit mining offered superior productivity, reduced production costs, and a safer, more hygienic environment, making it the preferred choice over underground mining. As such, this increasing preference for surface mining methods is propelling the green mining market's swift expansion.
What Are The Major Segments Within The Green Mining Market?
The green mining market covered in this report is segmented –
1) By Type: Surface, Underground
2) By Technology: Power Reduction, Emission Reduction, Water Reduction, Other Technologies
3) By Application: Mining, Exploration Geology
Subsegments:
1) By Surface: Open-Pit Mining, Strip Mining, Mountaintop Removal Mining
2) By Underground: Room and Pillar Mining, Longwall Mining, Block Caving
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Which Trends Are Expected To Transform The Green Mining
Key participants in the green mining sector are concentrating on the creation of innovative strategies like green energy accelerator platforms. These platforms are specialized endeavours or digital platforms constructed to speed up the growth, acceptance, and expansion of green or renewable energy solutions. For example, in November 2023, Fortescue Metals, a green energy firm from Australia, initiated the 'Fortescue Capital'. Developed as a fiduciary for third-party capital, this green energy investment accelerator platform aims to provide a flexible financing approach. It utilizes models specifically made for each project, contingent on official approval from the Fortescue board.
Who Are the Key Players in the Green Mining Market?
Major companies operating in the green mining market include:
• Glencore plc
• Jiangxi Copper Corporation
• BHP Group Limited
• Caterpillar Inc.
• Rio Tinto Group
• Vale S.A.
• Anglo American plc
• Tata Steel Ltd.
• Komatsu Ltd.
• Freeport-McMoRan Inc.
• Atlas Copco
• Teck Resources Limited
• Doosan Corporation
• Sany Heavy Industry Co. Ltd.
• Newmont Corporation
• Sandvik AB
• MA'ADEN
• Hitachi Construction Machinery Co. Ltd.
• First Quantum Minerals Ltd.
• Shandong Gold Mining Co. Ltd.
• Albemarle Corporation
• Eramet SA
• Saudi Arabian Mining Corporation
• Lundin Mining Corporation
• Liebherr Group
• Dundee Precious Metals Inc.
• Battery Mineral Resources
• Century Lithium
• Metso Corporation
• Outotec Oyj
• FLSmidth & Co. A/S
• Arena Minerals Inc.
What Is The Most Dominant Region In The Green Mining Market?
Asia-Pacific was the largest region in the green mining market share in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the green mining market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
