Global Mining Market Trends And Strategies Of Major Players In The Mining Market 2021-2030
18 Jun, 2021
The mining market consists of sales of minerals, metals and other valuable materials such as sand and gravel, coal and stone extracted from the earth crust by entities (organizations, sole traders and partnerships) that undertake the process of extraction.
Global Mining Market Size And Drivers:
The global mining market is expected to grow from $1641.67 billion in 2020 to $1845.55 billion in 2021 at a compound annual growth rate (CAGR) of 12.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $2427.85 billion in 2025 at a CAGR of 7%. Government policies to support the mining industry are expected to drive the mining market.
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Trends In The Global Mining Market
The use of renewable energy is helping mining companies reduce power costs and control emissions in the mines. As the solar or wind projects are built close to the mine sites, the cost of connecting to the power grid is also reduced. Site-appropriate renewable energy sources are reliable, consistent and also economical. BHP and Rio Tinto have started using renewable energy sources in their mines. According to a report published by EY, Rio Tinto aims to generate 10% of 20MW – 25MW power demand from renewable energy in one of their mines and expects to reduce its diesel use by approximately 4 million liters and its CO2 emissions by 12,000 tons. Also, in 2020, Rio Tinto approved the development of a large-scale solar photovoltaic and battery storage system for its western Australian Koodaideri mine.
Global Mining Market Segments:
The global mining market is further segmented based on type and geography.
By Type: Mining Support Activities, General Minerals, Stones, Copper, Nickel, Lead, And Zinc, Metal Ore, Coal, Lignite, And Anthracite
Sub segments Covered: Coal Mining Support Activities, Metal Mining Support Activities, Nonmetallic Minerals Mining Support Activities, Other General Minerals, Potash, Salt, Magnesite, Sulfur, Kaolin, Asbestos, Feldspar, Boron, Gypsum, Talc, Graphite, Baryte, Bentonite, Diatomite, Lithium, Selenium, Perlite, Vermiculite, Arsenic, Diamond, Dimension Stones, Crushed Stones, Copper, Zinc, Lead, Nickel, Gold Ore, Iron Ore, All Other Metal Ores, Silver Ore, Uranium Ore, Vanadium Ore, Coal, Lignite, Anthracite
By Geography: The global mining 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 mining market, accounting for 71% of the market in 2020.
Read More On The Report For The Global Mining Market At:https://www.thebusinessresearchcompany.com/report/mining-global-market-report-2020-30-covid-19-impact-and-recovery
Mining Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides mining market overviews, analyzes and forecasts market size and growth for the global mining market, mining market share, mining market players, mining market segments and geographies, mining market’s leading competitors’ revenues, profiles and market shares. The mining market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.