A forecast of the global green mining market size has projected it to reach USD 15.90 billion in 2027 and register a CAGR of 7.2% over the forecast period. Accessibility to affordable mining techniques, increase in the pollution level, and urge to maintain ecological balance are driving the market for green mining.
Mining is one of the largest money-making industries and has been a crucial topic that is discussed worldwide. One of the main reasons for this is rising pollution caused by mining and discharge of toxic gases, particles, and dust. Thus, green mining is gaining traction considering the harmful effects of mining on the environment. Preventive measures to reduce the harmful mining effects on earth’s ecosystem are been taken.
Market growth is attributed to rising demand for metal products among customers. Green mining has been initiated and funded by the industry in order to increase in depletion of fossil fuels. Green mining is the best choice in coal industry because it is environmentally friendly. Another factor expected to increase the market growth in the near future is vast utilization of electric vehicles (EVs) along with renewable sources of energy.
The global market is predicted to continue being highly competitive, consisting of various small start-ups, large conglomerates, and medium enterprises. Growing demand for advanced technologies and high diversification in green mining methods are expected to offer high growth potential for key market players.
However, problems associated with financing green mining activities is expected to limit the growth of the green mining market.
Some key highlights in the report:
- The surface mining technique segment revenue is projected to expand at a significantly high CAGR during the forecast period. Surface mining is a process in which rocks and soil is excavated from mineral deposits. It is a cost-efficient method as compared to the underground mining technique.
- The power reduction segment revenue is predicted to expand at a rapid CAGR during the forecast period. To increase the energy efficiency of comminution circuits, modern mining companies are developing new methods and technologies.
- Europe is expected to account for a significant market revenue during the forecast period owing to rapid increase in investments for surface mining techniques. Sustainable management projects developed by organizations in Germany, Russia, France, and UK are flourishing the market growth in Europe.
- Asia Pacific is expected to register a rapid CAGR during the forecast period due to the imposition of regulations by statutory authorities in countries like China, India, and Japan. Growing industrialization and increased desire for comfortable and luxurious goods among consumers in these countries are surging the green mining market in this region.
- North America is also likely to register a higher CAGR during the forecast period. Increasing number of environmental protection awareness projects has enabled consumers to shift to products obtained for green mining techniques. US is predicted to account for substantial market share over the forecast period.
- Key players operating in the market are BHP Billiton, TATA Steel, Anglo American, Glencore, Dundee Precious, Rio Tinto, Freeport-McMoRan, Shandong Gold Mining Co. Ltd, Jiangxi Copper Corporation, and Doosan Infracore.
For the purpose of this report, Emergen Research has segmented the global green mining market based on mining technique, technology, and region as follows:
Mining Technique Outlook (Revenue: USD Billion; Volume: Million Metric Tons; 2017–2027)
- Surface Mining Technique
- Underground Mining Technique
Technology Outlook (Revenue: USD Billion; Volume: Million Metric Tons; 2017–2027)
- Water Reduction
- Power Reduction
- Emission Reduction
- Fuel & Maintenance Reduction
Regional Outlook (Revenue: USD Billion; Volume: Million Metric Tons; 2017–2027)
- South Korea
- Rest of APAC
- Rest of LATAM
Middle East & Africa
- Saudi Arabia
- Rest of MEA
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