The global Green Mining Market is expected to be valued at USD 15.90 Billion in 2027 from USD 9.05 Billion in 2019, registering a CAGR of 7.2% through the forecast period. The strong market growth can be accredited to the increasing availability of cost-efficient methods mining methods, augmenting pollution level, and the growing necessity to maintain the ecological equilibrium. Surface mining is generally adopted over underground mining by the mining corporations, majorly due to cost-efficiency and enhanced safety of the process.
The market growth is majorly supported by factors such as environment-related norms and safety laws implemented by statutory authorities globally, the emergence of the sustainable development concept, and the augmenting awareness about green mining across the globe. Moreover, the rising depletion of fossil fuels has augmented the support and backing for green mining activities from government bodies and organizations.
The global market is expected to remain highly competitive and fragmented due to several small, medium, and large enterprises. The growing requirement for surface mining techniques is projected to boost the industry’s growth over the projected timeframe. The rapidly accelerating technological advancements and increased diversification in green mining techniques are further expected to create lucrative opportunities for the established and emerging players.
Key Highlights from the Report:
- Power reduction is the most preferred green mining technology and is projected to register a steady CAGR of 8.2% during the estimated timeframe. Enhancing the energy efficiency of communication is critical for the mining corporations to gain a robust footing in the global market.
- The surface mining sub-segment is projected to occupy a sizeable share of the industry, proliferating at a CAGR of 6.8% throughout the estimated years due to its cost-efficiency and safety.
- North America accounts for a critical revenue-making market owing to the implementation of the high number of awareness projects for environment protection and the rapid shift in the preference of products made through green mining methods. The regional growth can be ascribed to the market expansion in the United States.
- The Asia Pacific is expected to be an important emerging market for green mining techniques. This growth can be accredited to the regulations imposed by government bodies in APAC countries such as Japan, India, and China. Additionally, the accelerated industrialization and the augmenting consumer demand for luxurious and convenient goods are also adding traction to the regional growth.
- Jiangxi Copper Corporation, BHP Billiton, Anglo American, TATA Steel, Dundee Precious, Freeport-McMoRan, Glencore, Doosan Infracore, Rio Tinto, and Shandong Gold Mining Co. Ltd., among others, are the prominent industry players.
- Tata Steel acquired Bhushan Energy (India) in 2019 with approval from the National Company Law Tribunal. The acquisition is set to expand and maintain the presence of TATA Steel globally.
For the purpose of this report, Emergen Research has segmented the Global Green Mining Market on the basis of mining technique, technology, and region:
Mining Technique Outlook (Volume, Million Metric Tons; Revenue, USD Billion; 2017–2027)
- Surface Mining Technique
- Underground Mining Technique
Technology Outlook (Volume, Million Metric Tons; Revenue, USD Billion; 2017–2027)
- Water Reduction
- Power Reduction
- Emission Reduction
- Fuel & Maintenance Reduction
Regional Outlook (Volume, Million Metric Tons; Revenue, USD Billion; 2017–2027)
- North America
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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