Global Surface Mining Market 2024, Forecast To 2033
26 Feb, 2024
The surface mining market has exhibited steady growth, increasing from $28.39 billion in 2023 to $29.59 billion in 2024, with a CAGR of 4.2%. This growth is attributed to the growing demand for minerals and natural resources, global economic growth, industrialization, availability of large-scale surface mining deposits, and increasing urbanization and infrastructure development. Forecasts suggest steady growth to $35.2 billion in 2028, with a CAGR of 4.4%. The projected growth is attributed to the implementation of automation and autonomous mining systems, rising demand for rare earth elements, a growing focus on sustainable and environmentally friendly mining practices, adoption of advanced geological and surveying technologies, and the rising trend of automation.
Global Surface Mining Market Key Driver
The rise in construction projects significantly contributes to the surface mining market's growth. The construction industry's expansion, projected to reach $1.4 trillion in India by 2025, fuels the surface mining market. The real estate sector is expected to contribute 13% to India's GDP by 2030. These factors drive the surface mining market forward.
Get A Free Sample Of The Global Surface Mining Market ReportGlobal Surface Mining Market Segments
The surface mining market covered in this report is segmented –
1) By Type: Strip Mining, Open Pit Mining, Terrace Mining, Other Types
2) By Mineral: Metallic Ore, Non-Metallic Ore, Coal Mining
3) By End User: Metal, Electric Power Industry, Manufacturing, Other End Users
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North America was the largest region in the surface mining market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the surface mining market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Surface Mining Industry Players
Perenti Limited; American Mine Services LLC; Macmahon Holdings Limited; Bayswater Constructions Pvt. Ltd.; Laxyo Energy Limited; Mining Plus Pty Ltd.; Technica Group Inc.; Banks Group Ltd.; Day Group Ltd.; Goldcorp Global Mining Pvt. Ltd.; Rio Tinto Company Limited; The Broken Hill Proprietary Company Limited; Komatsu Ltd.; Caterpillar Inc.; Sandvikens Jernverks AB; Atlas Copco AB; Hitachi Construction Machinery Co. Ltd.; Coal India Limited; Joy Global Inc.; Metso Corporation; Terex Corporation; Liebherr-International AG; HD Hyundai Infracore Co. Ltd.; Volvo Construction Equipment AB; CNH Industrial NV; Joseph Cyril Bamford Excavators Ltd.; Sany Heavy Industry Co. Ltd.; Xuzhou Construction Machinery Group Co. Ltd.; Zoomlion Heavy Industry Science and Technology Co. Ltd.; Wirtgen GmbH; Bell Equipment Limited; BEML Limited; FLSmidth & Co. A/S; GHH Fahrzeuge GmbH; Haver & Boecker Niagara GmbH
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Surface Mining Market Overview
Surface mining refers to the method of extracting minerals near the surface of the earth. It is the removal of the terrain surface to access minerals underneath. Surface mining has a lower financial cost and is a lot safer than underground mining.
Surface Mining Global Market Report 2023 provides data on the global surface mining market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The surface mining market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.