Mining Machinery And Equipment Global Market Report 2023 – By Product Type (Underground Mining Machinery, Surface Mining Machinery, Drills and Breakers, Crushing, Pulverizing, and Screening Equipment, Mineral Processing Machinery, Other Product Types), By Function Type (Transportation, Processing, Excavation), By Application (Coal, Mineral, Metal) – Market Size, Trends, And Global Forecast 2023-2032

Mining is the process of extraction of minerals, metals and other valuable materials from the earth. The main types of mining are mining support activities, general minerals, stones, copper, nickel, lead, zInc., metal ore, coal, lignite, and anthracite. General minerals include mine construction sand and gravel, industrial sand, kaolin and ball clay, clay and ceramic and refractory minerals, potash, soda and borate mineral, phosphate rock, or other chemical and fertilizer minerals mining. The various processes used for mining are underground mining and surface mining. The different service providers include independent contractors and companies. The global mining market is segmented - 1) By Type: Mining Support Activities, General Minerals, Stones, Copper, Nickel, Lead, And Zinc, Metal Ore, Coal, Lignite, And Anthracite 2) By Process: Underground Mining, Surface Mining 3) By Service Provider: Independent Contractors, Companies Subsegments 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 The global mining market size grew from $2022.6 billion in 2022 to $2145.15 billion in 2023 at a compound annual growth rate (CAGR) of 6.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The mining market is expected to grow to $2775.5 billion in 2027 at a CAGR of 6.7%. Government policies to support the mining industry is expected to drive the 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 2021, the Ministry of mines of the Government of India, enacted the Mines and Minerals Amendment Act 2021, and published The Mineral Conservation and Development Rules to facilitate the growth of Mining industry in India and to regulate the industry. These government policies will continue to support the growth of the mining market. Major companies in the mining market include BHP Group, Vale S.A., Rio Tinto, Glencore International, Anglo American plc, China Shenhua Energy Company Limited, China Coal Energy Company Limited, The Metallurgical Corp of China, Coal India Ltd and Corporacion Nacional del Cobre de Chile. Power generation companies are increasingly using alternate sources of energy such as natural gas, nuclear power, and renewable to produce clean and sustainable electricity. The decreasing cost of installation of renewable sources of energy is also driving the use of these sources for power generation. This is expected to act as a restraint on the demand for coal in power generation. According to the US Energy Information Administration (EIA), coal's share of the total world energy consumption is expected to decline from 22% in 2040. Renewable is expected to be the fastest growing energy source, with their consumption increasing at an average rate of 2.3% per year till 2040. The continuous shift to alternative sources for power generation will restrain the 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 RioTinto have started using renewable energy sources in their mines. According to a report published by EY, RioTinto 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. The solar plant will be one of Australia's largest photovoltaic installations at a mining site once completed. According to a report by Fitch Solutions, renewable energy used by mining companies from various sources include 57% solar thermal, 37% of solar PV, and 4% of wind energy. Asia-Pacific was the largest region in the mining market in 2022. North America was the second largest region in the mining market. The regions covered in the mining market analysis are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the mining market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Vietnam, Bangladesh, Ukraine, and Iran. 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. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The mining market research report is one of a series of new reports from The Business Research Company that provides mining market statistics, including mining industry, global mining market size, regional shares, competitors with a mining market share, detailed mining market segments, market trends, and opportunities, and any further data you may need to thrive in the mining industry. This mining market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

A carbon footprint management system is a technological solution for measuring the impact of human activity on the environment expressed as a carbon dioxide equivalent. This tool allows organizations to identify opportunities for reducing material, water, waste, and energy use, thus reducing the carbon footprint of the company. The main types of components in carbon footprint management are solutions and services. The services provided by carbon footprint management include consulting, integration and deployment, support and maintenance, and system integration. The different modes of deployment include on-premise, cloud and are implemented in various verticals such as manufacturing, it and telecom, residential and commercial buildings, transportation and logistics, energy and utilities, others. The global carbon footprint management market is segmented – 1) By Component: Solution, Services 2) By Deployment: On-Premises, Cloud 3) By Vertical: Manufacturing, IT And Telecom, Residential And Commercial Buildings, Transportation And Logistics, Energy And Utilities, Other Verticals The global carbon footprint management market size will grow from $9.34 billion in 2022 to $9.96 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the carbon footprint management is expected to grow to $12.4 billion in 2027 at a CAGR of 5.6%. The introduction of various carbon emission policies by governments in carbon footprint management is expected to propel the growth of the carbon footprint management market. Governments across the world have taken various initiatives to reduce carbon footprint and pollution. For instance, in May 2021, the German government set new targets to reduce its carbon footprint. Under the new targets, Germany will aim for a 65%, 88%, and nearly 0% net carbon emission by 2030, 2040, and 2045 respectively. As a result, organizations have been instructed by governments to follow the norms and regulations. The adherence requirements for reducing carbon footprint would result in a growth in the demand for carbon footprint management systems as it assists organizations in identifying avenues for reducing their carbon footprint. Major players in the carbon footprint management market are Accuvio, Carbon EMS, Enviance, EnergyCAP LLC, ENGIE Impact, Envirosoft Corporation, Intelex Technologies Inc., IsoMetrix Software, Locus Technologies, NativeEnergy Inc., SAP SE, Johnson Controls, Accenture PLC, IBM Corporation, Schneider Electric S.E., Natural Capital Partners, VelocityEHS, and Carbon Trust. The rising focus on enterprise sustainability among organizations is a key trend gaining popularity in the carbon emission management market. Major companies operating in the carbon emission management sector are focused on launching new products to meet the rising market demand for regulating their carbon emission. For instance, in June 2021, a France-based information technology services and consulting company, Capgemini, launched “Sustainable IT”, an offering designed to assist IT companies in reducing their carbon footprint. The new offering is meant to support clients on their sustainability journey through its technical expertise, customized approach, and strong partner ecosystem using Capgemini’s global sustainability offering framework. In October 2020, Radicle Group Inc., a carbon reduction solutions company based in Canada acquired Climate Smart Businesses Inc., for an undisclosed amount. Through this acquisition, Radicle Group aims to better address the needs of clients seeking to calculate emissions and then manage a carbon strategy to strengthen their business. Climate Smart Businesses is a Canada-based company that provides carbon footprint management services. North America was the largest region in the carbon footprint management market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the carbon footprint management report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the carbon footprint management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The carbon footprint management market includes revenues earned by entities by providing software tools that are used to track organizations' carbon footprint to the roadmap to a more efficient business by reducing the consumption of fossil energy. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The carbon footprint management market research report is one of a series of new reports from The Business Research Company that provides carbon footprint management market statistics, including carbon footprint management industry global market size, regional shares, competitors with a carbon footprint management market share, detailed carbon footprint management market segments, market trends and opportunities, and any further data you may need to thrive in the carbon footprint management industry. This carbon footprint management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Renewable energy refers to energy produced from natural energy sources, such as the sun and wind that are constantly replenished. Renewable energy is used for space and water heating and cooling, electricity generation, and transportation. Renewable energy causes less global warming, improved public health, inexhaustible energy, stable energy prices, reliability, and resilience. The main type of renewable energy is solar energy, wind energy, bioenergy, hydro energy, and geothermal energy. The solar energy type of renewable energy is an energy form that uses solar energy for powering a home, building, water heating, and solar lights, that comes in various capacities such as 0-1,000kwh, 1,100-5,000kwh, more than 5,000kwh, used by residential, commercial, industrial and utility. The global renewable energy market is segmented – 1) By Type: Solar Energy, Wind Energy, Bio Energy, Hydro Energy, Geothermal Energy 2) By Capacity: 0-1,000KWH, 1,100-5,000KWH, More than 5,000KWH 3) By End User: Residential, Commercial, Industrial, Utility The global renewable energy market size will grow from $952.85 billion in 2022 to $1035.69 billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global renewable energy is expected to grow to $1404.48 billion in 2027 at a CAGR of 7.9%. An increase in power consumption is expected to propel the growth of renewable energy. Global energy demand is rising due to increased industrial activity and technological advancements in developing and developed countries. Additionally, there is a rapid increase in energy consumption because of the growing world population, which implies growing energy requirements. Due to such an increase in the use of power, there is a need to produce renewable energy because of its improved energy security and reduced risk of fuel spills that emits no greenhouse gases from fossil fuels and decreases certain types of air pollution. For instance, According to Enerdata, the world energy, and climate statistics, the 2022 report states that global electricity consumption increased by +5.5% in 2021, after contracting by 0.7% in 2020 owing to the COVID-19 crisis. Furthermore, according to International Energy Agency, an intergovernmental organization, worldwide electricity demand will increase by about 5% in 2021 and 4% in 2022. Therefore, an increase in power consumption will drive the renewable energy market. Major players in the renewable energy market are ABB Ltd., Acciona Energia SA, EDF SA, Enel Group, General Electric Energy, Geronimo Energy, Innergex, Tata Power Company Limited, Xcel Energy Inc., Invenergy, Siemens Gamesa, First Solar Inc., Vestas Wind Systems AS, Duke Energy Corporation, National Grid Renewables, Iberdrola SA, Jinko Solar Holding Co Ltd., Canadian Solar Inc., and Orsted A/S. Technological advancement is a key trend gaining popularity in the renewable energy market. Renewable technologies are recognized as green energy sources. The effective utilization of these resources minimizes environmental consequences, produces minimal secondary waste, and is sustainable in light of present and projected economic and societal needs. Recently, the market has witnessed the use of bio-mass energy and dual-module solar systems that can significantly reduce greenhouse gas emissions. Major companies in the renewable energy market are advancing in their new technologies and research and development to sustain their market position. For instance, In March 2022, Gautam Solar, an India-based Solar panels manufacturer, launched a G-2X dual-generation monocrystalline technology solar modules. This Gautam Solar module provides power from both the front and back of the module, making it ideal for use in rooftop and ground-mounted solar power plants, creating an additional 10%- 30% extra power generation. The solar module's combined front and back efficiency go up to 25.72%. This G-2X mono series will save BOS and installation costs while increasing electricity generation by up to 30% in the same available space. In February 2022, Chevron Corporation, a US-based energy industry company, acquired Renewable Energy Group, Inc., for $3.15 billion. This acquisition enhances REG's rising renewable fuel production and superior feedstock capabilities combined with Chevron's significant production, distribution, and commercial marketing. Renewable Energy Group, Inc., is a US-based biodiesel production company. Asia-Pacific was the largest region in the renewable energy market in 2022. North America is expected to be the fastest-growing region in the renewable energy market share during the forecast period. The regions covered in the renewable energy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the renewable energy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The renewable energy market includes revenues earned by entities by nuclear energy, biomass and bioenergy, and applied energy. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The renewable energy market research report is one of a series of new reports from The Business Research Company that provides renewable energy market statistics, including the renewable energy industry global market size, regional shares, competitors with a renewable energy market share, detailed renewable energy market segments, market trends and opportunities, and any further data you may need to thrive in the renewable energy industry. This renewable energy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The carbon capture, utilization, and storage refer to technologies that are engaged in providing clean and efficient energy solutions. Carbon capture, utilization, and storage (CCUS) is a set of methods and technologies for removing CO2 from flue gas and the atmosphere, recycling it for use, and establishing safe and long-term storage choices. The main technologies involved in carbon capture, utilization, and storage are pre-combustion, post-combustion, and oxy-fuel combustion. Pre-combustion capture is the process of extracting CO2 from fossil fuels before they are burned. The different services include capture, transportation, utilization, storage and is implemented in various verticals such as oil and gas, power generation, iron and steel, chemicals and petrochemicals, cement, others. The global carbon capture utilization and storage market is segmented - 1) By Technology: Pre-Combustion, Post Combustion, Oxy-Fuel Combustion 2) By Service: Capture, Transportation, Utilization, Storage 3) By End-Use Industry: Oil & Gas, Power Generation, Iron & Steel, Chemical & Petrochemical, Cement, Others The global carbon capture, utilization, and storage market size grew from $2.25 billion in 2022 to $2.54 billion in 2023 at a compound annual growth rate (CAGR) of 13.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The market size of the carbon capture, utilization, and storage is expected to grow to $4.31 billion in 2027 at a CAGR of 14.1%. The increase in focus on reducing carbon dioxide (CO2) emissions across the globe is contributing to the growth of the carbon capture, utilization, and storage (CCUS) market. Carbon dioxide emissions rise as a result of burning fossil fuels such as oil or gas to power cars or create electricity, causing respiratory ailments and global warming by trapping heat. CCUS absorbs CO2 using a variety of technologies and uses or stores it instead of releasing it into the atmosphere. Countries and companies are trying to reduce carbon dioxide emissions to reduce global warming. For instance, according to the United Nations, 110 countries have committed to becoming carbon neutral by 2050. Furthermore, as per the International Energy Agency, in May 2020, three oil firms, Equinor, Shell, and Total, have pledged to invest $700 million in the Northern Light offshore CO2 storage project to decrease carbon dioxide emissions. Therefore, the increase in focus on reducing carbon dioxide emissions is driving the market for carbon capture, utilization, and storage market. Major players in the carbon capture, utilization, and storage market are Exxon Mobil, Royal Dutch Shell, Aker Solutions, Linde, NRG Energy, Fluor, General Electric, Honeywell, Mitsubishi Heavy Industries, Dakota Gasification Company, Hitachi, JGC Holdings, Carbon Engineering, ADNOC Group, Equinor, China National Petroleum Corporation, Chevron, Total, Air Liquide, LanzaTech, and Occidental Petroleum. The increasing investments by governments and organizations are an emerging trend in the carbon capture, utilization, and storage market. Major companies and governments are focusing on investing in carbon capture, utilization, and storage projects to reduce carbon emissions. For example, in July 2020, the US Department of Energy awarded FLExible Carbon Capture and Storage (FLECCS) project an $11.5 million grant to address key carbon capture and storage needs in the nation's power networks. The FLECCS project aims to facilitate the next generation of flexible, low-cost, and low-carbon power grids, as well as establish carbon capture and storage (CCS) retrofits for existing power generators that consume fossil carbon-containing fuels such as natural gas or biogas and generate electricity. In November 2020, Baker Hughes, a US-based company that provides carbon capture and storage services acquired Compact Carbon Capture (3C) for an undisclosed amount. The acquisition reinforces Baker Hughes' strategic commitment to leading the energy transition by providing decarbonization solutions for carbon-intensive industries such as oil and gas, as well as broader industrial operations. Compact Carbon Capture (3C) is a Norway-based technology company specialized in the development of carbon capture solutions. North America was the largest region in the carbon capture, utilization, and storage market in 2022. The regions covered in the carbon capture, utilization, and storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the carbon capture, utilization, and storage market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The carbon capture, utilization, and storage market includes revenues earned by entities by providing point source carbon capture, carbon transport and storage, carbon dioxide removal and conversion, hydrogen with carbon management, integrated carbon management. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The carbon capture, utilization, and storage market research report is one of a series of new reports from The Business Research Company that provides carbon capture, utilization, and storage market statistics, including carbon capture, utilization, and storage industry global market size, regional shares, competitors with a carbon capture, utilization, and storage market share, detailed carbon capture, utilization, and storage market segments, market trends and opportunities, and any further data you may need to thrive in the carbon capture, utilization, and storage industry. This carbon capture, utilization, and storage market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Solar energy refers to the generation of renewable energy from sunlight and conversion into electricity, either directly using photovoltaics, indirectly using concentrated solar power, or a combination of both. Photovoltaics (PV) are used to collect solar energy and convert it to usable energy in the form of electricity. The main types in the solar energy market are solar cell panels, solar cell paste, and solar silicon wafers. Solar cells are panels used to convert sunlight into electricity. Solar cell panels can be used to generate electricity to be used in residential or commercial sectors. The technology used in solar energy is photovoltaic systems and concentrated solar power systems and the types of panels are mono-crystalline thin film, and poly-crystalline. Solar energy is applied in residential and commercial and end-user are electricity generation, lighting, heating, and charging. The global solar energy market is segmented – 1) By Type: Solar Cell Panel, Solar Cell Paste, Solar Silicon Wafer 2) By Technology: Photovoltaic Systems, Concentrated Solar Power Systems 3) By Panel: Mono-Crystalline, Thin Film, Poly-Crystalline 4) By Application: Residential, Commercial 5) By End Use: Electricity Generation, Lighting, Heating, Charging The global solar energy market size will grow from $101.87 billion in 2022 to $126.82 billion in 2023 at a compound annual growth rate (CAGR) of 24.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global solar energy is expected to grow to $354.99 billion in 2027 at a CAGR of 29.3%. The increasing government initiatives to support renewable energy sources are expected to propel the growth of the solar energy market. Government initiatives include subsidies and relaxed laws for the implementation and use of solar energy. These initiatives have led to the installation of various solar projects all across the world for the production of renewable energy that is affordable to consumers. As government initiatives increase globally, there will be a significant rise in the adoption of solar energy across the world. For instance, according to the Union budget 2022-2023, India will allocate INR 4,500 crores ($0.58 billion) for the development of high-efficiency modules for solar photovoltaic cells under the PLI (Production-Linked Incentive) scheme. In addition, in 2020, Romania's Ministry of Environment allocated over USD 63.7 million for the Casa Verde Fotovoltaice (green PV home) scheme to support residential solar installations under its net metering regime. Therefore, increasing government initiatives to support renewable energy sources are expected to drive the growth of the solar energy market. Major players in the solar energy market are Kaneka Corp, Acciona Energia SA, Abengoa Solar SA, Bright Source Energy Inc., Tata Power Solar, Wuxi Suntech Power Co Ltd., Sunpower Corporation, Canadian Solar Inc., Esolar Inc., Gintech Energy Corp, Trina Solar Ltd., Solar Systems LLC, United Renewable Energy Co Ltd., LONGi Green Energy Technology Co Ltd., JinkoSolar Holdings Co Ltd., Borrego Solar Systems Inc., Areva, Indosolar, Euro multivision, Bharat Heavy Electricals, Central Electronics Limited, First Solar and Yingli Solar. The development of bifacial solar cells for increased output is a key trend gaining popularity in the solar energy market. Major companies and research and development centers operating in the solar energy sector are focused on developing bifacial solar cells to meet market demand for maximum output. Bifacial solar cells absorb light from both the front and back sides of their surfaces, catching albedo light that will otherwise be wasted. Therefore, companies and research and development centers are focused on developing bifacial solar cells to maximize the output of solar energy. For instance, in August 2021, researchers from Australian National University, a public research university located in Canberra developed a new bifacial solar cell with a 96.3% bifacial factor. It is a dual-sided silicon solar cell with a front-conversion efficiency of 24.3% and a back-conversion efficiency of 23.4%, resulting in a bifacial factor of 96.3%. According to the researchers, the performance indicates an effective power output of around 29%. The bifacial solar cell will outperform the single-sided silicon solar cells and offer efficiency for solar PV projects. In March 2022, Sonnedix Power Holdings Limited, a UK-based global company specializing in the power production of solar energy acquired Sun Power Energy for an undisclosed amount. This acquisition helps Sonnedix to increase its workforce, gain a 1GW development pipeline throughout Poland, and expand its product reach to Europe. Sun Power Energy is a Poland-based company that develops solar photovoltaic modules. Asia-Pacific was the largest region in the solar energy market in 2022. The regions covered in the solar energy market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the solar energy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The solar energy market includes revenues earned by entities by providing services such as stand-alone power systems (SAPS), grid-feed solar systems, and grid-connected solar systems with battery storage. The solar energy market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The solar energy market research report is one of a series of new reports from The Business Research Company that provides solar energy market statistics, including solar energy industry global market size, regional shares, competitors with a solar energy market share, detailed solar energy market segments, market trends and opportunities, and any further data you may need to thrive in the solar energy industry. This solar energy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Mining support activities are direct services or service-related activities offered while performing different mining operations. The main types of mining support activities are coal mining support activities, metal mining support activities and nonmetallic minerals mining support activities. The coal mining support activities include activities such as exploration for coal and traditional prospecting methods, such as taking core samples and making geological observations at prospective sites on a contract or fee basis. The services are provided by independent contractors and companies to mining companies, construction companies, and others. The global mining support activities market is segmented - 1) By Type: Coal Mining Support Activities, Metal Mining Support Activities, Nonmetallic Minerals Mining Support Activities 2) By Service Provider Type: Independent Contractors, Companies 3) By Application: Mining Companies, Construction Companies, Other Applications Subsegments Covered: Coal Mining Drilling Services, Coal Mining Exploration Services, Coal Mining Draining Services, Other Coal Mining Support Activities, Metal Mining Drilling Services, Metal Mining Exploration Services, Metal Mining Draining Services, Other Metal Mining Support Activities, Nonmetallic Minerals Mining Drilling Services, Nonmetallic Minerals Mining Exploration Services, Nonmetallic Minerals Mining Draining Services, Other Nonmetallic Minerals Mining Support Activities The global mining support activities market size grew from $261.69 billion in 2022 to $281.76 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The mining support activities market is expected to grow to $391.33 billion in 2027 at a CAGR of 8.6%. 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 2021, the Ministry of mines of the Government of India, enacted the Mines and Minerals Amendment Act 2021, and published The Mineral Conservation and Development Rules to facilitate the growth of Mining industry in India and to regulate the industry. These government policies will continue to support the mining processes and thus are projected to increase the growth of support activities for mining market. Major companies in the mining support activities market include 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. The outbreak of COVID-19 disease (COVID-19) has acted as a significant restraint on the support activities for mining market in 2020 as governments globally imposed lockdowns and restricted the movement of people and goods to contain the virus. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of 'lock down' and the outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the support activities for mining market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. GIS technology is increasingly being used by mining companies to monitor critical factors such as sustainability, geological composition, and compliance. GIS systems capture, record, evaluate and present spatial or geographic data. GIS integrates exploration datasets such as geophysical images, geochemistry, geologic maps, radiometric surveys, boreholes, and mineral deposits leading to efficient discovery of new mineral deposits. This technology also provides 3D visualization tools as it integrates data from various data sources. They are also used in allied industries such as production, mine closure, and reclamation. For instance, according to GISGIG, the global GIS market is expected to reach $12.7 billion by 2024. Asia-Pacific was the largest region in the mining support activities market in 2022. Western Europe was the second largest region in the mining support activities market. The regions covered in the mining support activities market analysis are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the mining support activities market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Vietnam, Bangladesh, Ukraine, and Iran. The mining support activities market consists of revenue earned by entities by offering supporting 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. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The mining support activities market research report is one of a series of new reports from The Business Research Company that provides mining support activities market statistics, including mining support activities industry, global mining support activities market size, regional shares, competitors with a mining support activities market share, detailed mining support activities market segments, mining support activities market trends and opportunities, and any further data you may need to thrive in the mining support activities industry. This mining support activities market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Mining machinery and equipment is defined as electrical or diesel-powered heavy-duty machinery or equipment involved in the excavation, transportation, and processing of commodities such as coal, minerals, and metals. The main types of mining machinery are underground mining machinery, surface mining machinery, drills and breakers, crushing, pulverizing, and screening equipment, mineral processing machinery, feed conveyors, stackers, and reclaimers. Pulverizing reduces minerals into small particles. Crushing reduces the size of materials into small substances for further processing. Screening separates one material from the other during the mechanical screening process. These mining machines are used for transportation, processing, and excavation in coal, minerals, and metals mining. The global mining machinery and equipment market is segmented – 1) By Product Type: Underground Mining Machinery, Surface Mining Machinery, Drills and Breakers, Crushing, Pulverizing, and Screening Equipment, Mineral Processing Machinery, Other Product Types 2) By Function Type: Transportation, Processing, Excavation 3) By Application: Coal, Mineral, Metal The global mining machinery and equipment market size is expected to grow from $70.35 billion in 2022 to $78.08 billion in 2023 at a compound annual growth rate (CAGR) of 11%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of mining machinery and equipment is expected to reach $113.35 billion in 2027 at a CAGR of 9.8%. The increasing demand for mining is fueling the growth of the mining machinery and equipment market. Underground advanced mining equipment such as trucks, loaders, and diggers are used to dig up the material, and is usually transported to the ground through skips or lifts for further production. In the economic growth of developed nations such as Australia, the USA, and Canada, mining has performed a key role. Mining is notably crucial to the US economy because the USA is among the largest buyers of mineral resources and one of the largest producers in the world. For instance, according to the USA Geological report, in 2021, US mines produced nearly $90.4 billion worth of nonfuel minerals, which is 12% more compared to 2020. Therefore, the increasing demand for mining drives the growth of the mining machinery and equipment market. Major players in the mining machinery and equipment market are Caterpillar Inc., Komatsu Ltd., Metso Corporation, Sandvik AB, Doosan Corporation, Liebherr, Hitachi Construction Machinery Co., Ltd., Atlas Copco AB, Epiroc AB, Sany Heavy Equipment International Holdings Company Limited, Hyundai Heavy Industries, Joy Global Inc., Astec Industries Incorporated, Bell Equipment Limited, Boart Longyear Ltd., Bradken Limited, FLSmidth & Co., Furukawa Co. Ltd., Kopex SA, and Deere & Company. The impact of COVID-19 is expected to impede the growth of the mining machinery and equipment market over the forecast period. The mining industry has struggled with economic problems, but the COVID-19 outbreak is unparalleled, even for the major firms on the market. The sudden breakdown of day-to-day activity and total lockdown throughout countries for months, combined with a persistent threat to human life, has impacted the mining sector. For instance, in 2021, Shell, the leading supplier of lubricants to the mining industry, reported that about 80% of mining companies encountered operational difficulties, such as lack of qualified staff and inadequate steps to retain workers secure when implementing advanced technologies. Therefore, the impact of COVID-19 hampers the growth of the mining machinery and equipment market. The growing technological advancements are a major trend shaping popularity in the mining machinery and equipment market. Major firms operating in the mining machinery sector are focusing on developing advanced technology solutions for mining machinery. For instance, in September 2020, Sandvik, a Sweden-based engineering group in mining and rock excavation, metal-cutting, and materials technology developed a concept vehicle, which is built on high-end technology and fitted with entirely new sensing technologies and artificial intelligence to improve mining procedures. The AutoMine Model that is used, views its surroundings and atmosphere in 3D and responds in real-time. These technologies give specific consumer benefits by enabling vehicles to adapt and schedule their own ways and to find the most efficient paths even in ever-changing environments. In October 2022, Austin, a US-based company that specializes in mining equipment design and manufacturing, acquired Mainetec Pty Ltd for the amount of US $19.6 million. This acquisition expands Austin’s range of offerings for Hulk buckets and other products and provides product progressing plans across the USA, Canada and Chile markets. Mainetec Pty Ltd is an Australia -based manufacturer of mining equipment. Asia-Pacific was the largest region in the mining machinery market in 2022. The regions covered in the mining machinery and equipment market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the mining machinery and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The mining machinery and equipment market consists of sales of coal breakers machine, mining cars, core drills, coal cutters, rock drills, and manufacturing mineral beneficiating machinery and equipment used in surface or underground mines. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The mining machinery and equipment market research report is one of a series of new reports from The Business Research Company that provides mining machinery and equipment market statistics, including mining machinery and equipment industry global market size, regional shares, competitors with a mining machinery and equipment market share, detailed mining machinery and equipment market segments, market trends and opportunities, and any further data you may need to thrive in the mining machinery and equipment industry. This mining machinery and equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The autonomous mining equipment and vehicles market consists of sales of autonomous mining equipment and vehicles by entities (organizations, sole traders, partnership) that can sense the environment and navigate on the mine haul road surface without any human intervention. Autonomous equipment and vehicles function with minimal human intervention and primarily help in the safe mining and transportation of ores and other materials. The main technologies of autonomous mining equipment and vehicles are surface mining techniques and underground mining techniques. The equipment used is a smart ventilation system, an autonomous hauling truck, pumping stations, an autonomous drilling rig, an underground LHD loader, tunneling equipment, and other equipment. The applications involved are metal mining, mineral mining, coal mining, and others. The global autonomous mining equipment and vehicles market size is expected to grow from $2.6 billion in 2021 to $2.94 billion in 2022 at a compound annual growth rate (CAGR) of 13.1%. The global autonomous mining equipment and vehicles market size is expected to grow to $4.09 billion in 2026 at a compound annual growth rate (CAGR) of 8.6%. Rising concerns regarding miners' safety are driving the growth of the autonomous mining equipment and vehicle market as more autonomous mining equipment is employed to minimize human intervention and thereby reduce accidents. Mining is a dangerous profession with hazards such as fires, flooding, mine collapses, and health risks such as respiratory diseases, hearing loss, musculoskeletal disorders, and heat stress. Introducing autonomous equipment such as robotic loaders, laser sensors, and driverless trucks can help improve worker safety. For instance, mining company Rio Tinto is using 73 driverless trucks in four of its iron mines in Australia to improve worker safety. Therefore, the rising concerns regarding miners' safety are expected to propel the growth of the autonomous mining equipment and vehicles market. Autonomous mining equipment manufacturers are increasingly investing in technologies for electrification of mining equipment to reduce costs and emissions. Mining companies are required to invest heavily in equipment and maintenance to remove exhaust gases and heat generated by underground mining equipment. According to EY, a typical underground mine is ventilated by 500 to 1,000 cubic meters per second of fresh air, and the mechanical refrigeration needed to remove diesel equipment heat has an upfront cost of $30 million to $38 million and annual electricity costs of $0.75 million to $2.2 million. These high investment and maintenance costs can be avoided by using autonomous mining equipment that uses electricity as its source of energy. In June 2020, Caterpillar Inc, a US-based construction machinery and equipment company acquired Marble Robot Inc. for an undisclosed amount. The acquisition is part of Caterpillar’s automation and autonomy strategy and demonstrates its commitment to the next generation of Jobsite solutions. Marble Robot, Inc. is a US-based robot and autonomy technology solutions company. Major players in the autonomous mining equipment and vehicles market are Caterpillar, Hitachi Ltd., Komatsu, Sandvik, and Atlas Copco. The regions covered in the global autonomous mining equipment and vehicles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the autonomous mining equipment and vehicles market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The global autonomous mining equipment and vehicles market is segmented - 1) By Technology: Surface Mining Technique, and Underground Mining Technique 2) By Equipment: Smart Ventilations System, Autonomous Hauling Truck, Pumping Stations, Autonomous Drilling Rig, Underground LHD Loader, Tunneling Equipment, and Others 3) By Application: Metal Mining, Mineral Mining, Coal Mining, Others