The global mining support activities market size is expected to grow from $236.12 billion in 2021 to $267.58 billion in 2022 at a compound annual growth rate (CAGR) of 13.3%. The global mining support market size is expected to grow to $438.17 billion in 2026 at a CAGR of 13.1%.
What is the Global Mining Support Activities Market?
The mining support activities market consists of sales of mining support services and related goods by entities (organizations, sole traders and partnerships) that perform support activities on a contract or fee basis for coal, metal and nonmetallic mineral (except fuels) mining. Support activities include exploration of minerals, drilling, draining of mines and other support activities.
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What drives the Global Mining Support Activities Market?
Government policies to support the mining industry is expected to drive the support activities for mining market. Governments are providing subsidies and encouraging foreign direct investments (FDI) in the mining industry. The amount of government support includes the support through governments' public finance institutions such as bilateral development banks and export credit agencies investing in mining projects, fiscal support through budget allocations and tax exemptions, and investments through majority state-owned mining and utility companies. For instance, in 2019, the government of India approved the increase of iron ore leasing areas in Orissa from 10 square kilometers to 58 square kilometers and encouraged the private auction of these ores by private companies such as TATA steel. These government policies will continue to support the mining processes and thus are projected to increase the growth of support activities for mining market.
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Global Mining Support Activities Market Segments
The global mining support activities market is segmented:
By Type: Coal Mining Support Activities, Metal Mining Support Activities, Nonmetallic Minerals Mining Support Activities
By Service Provider Type: Independent Contractors, Companies
By Application: Mining Companies, Construction Companies, Others
By Geography: The regions covered in the mining support activities market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Mining Support Activities Global Market Report 2022provides market size and growth forecasts for the global mining support activities market, global mining support activities market share, mining support activities market segments and geographies, mining support activities market competitive landscape including leading competitors’ revenues, profiles and market shares. The mining support activities market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Mining Support Activities Industry Playersinclude The Metallurgical Corp of China, Hochtief AG, PT United Tractors Tbk, Perenti Global Ltd, NRW Holdings Limited, The Weir Group plc, Major Drilling Group International Inc, Aveng Limited, Boart Longyear Ltd., and Foraco International SA. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
