Global Metal Ore Market Trends And Strategies Of Major Players In The Metal Ore Market 2021-2030
17 Feb, 2021
The metal ore market consists of sales of metal ores and concentrates by entities (organizations, sole traders and partnerships) that mine metallic mineral ores. The industry includes establishments developing mine sites, ore dressing, and other beneficiating operations such as crushing, grinding, washing, drying, sintering, concentrating, calcining, and leaching. The metal ore market is segmented into gold ore; iron ore; silver ore; uranium ore; vanadium ore and all other metal ores.
Global Metal Ore Market Size And Drivers:
The global metal ore market is expected to grow from $186.65 billion in 2020 to $212.63 billion in 2021 at a compound annual growth rate (CAGR) of 13.9%. The market is expected to reach $258.12 billion in 2025 at a CAGR of 5%. The presence of large metal ore reserves globally supported the metal ore mining activities. The large metal ores reserve such as iron ores reserves globally supported the growth of metal ore mining market.
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Trends In The Global Metal Ore Market
Mining companies are starting to use cognitive computing to enhance the decision-making capabilities in mining operations. The ability of cognitive computing to give insights on future trends of the industry and make real-time decisions are some of the driving factors for mining companies to implement this technology. The key areas where cognitive computing and predictive technology helps mining companies include giving accurate information on drilling locations, depth to be drilled, predicting the equipment failure in advance and autonomous transportation. Goldcorp is using IBM Watson to analyze drilling reports and geological survey reports. This approach assists geologists with the exploration process and by helping them make more accurate, data-driven decisions.
Global Metal Ore Market Segments:
The global metal ore market is further segmented based on type, organization size and geography.
By Type:Gold Ore, Iron Ore, All Other Metal Ores, Silver Ore, Uranium Ore, Vanadium Ore
By Organization Size:Large Enterprises, Small And Medium Enterprises
By Geography:The global metal ore market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, Asia Pacific is the largest region in the global metal ore market, accounting for 74% of the total market.
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Metal Ore Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides metal ore market overviews, analyzes and forecasts market size and growth for the global metal ore market, metal ore market share, metal ore market players, metal ore market segments and geographies, metal ore market’s leading competitors’ revenues, profiles and market shares. The metal ore market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.