Overview and Scope
Green mining is using technologies to decline carbon emissions in operations and mitigate adverse environmental impacts in mining.
Sizing and Forecast
The green mining market size has grown strongly in recent years. It will grow from $9.82 billion in 2023 to $10.66 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to demand for sustainable resource, cost savings through efficiency, community and stakeholder expectations, water and energy efficiency, rehabilitation and restoration initiatives.
The green mining market size is expected to see strong growth in the next few years. It will grow to $14.09 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to circular economy in mining, innovation in mining equipment, eco-friendly materials processing, biodiversity conservation, responsible mineral sourcing initiatives. Major trends in the forecast period include zero-emission vehicles and technologies, blockchain for transparency and traceability, carbon capture and storage (CCS), collaboration for sustainable mining practices, advanced sensor technologies.
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Segmentation & Regional Insights
The green mining market covered in this report is segmented –
1) By Type: Surface, Underground
2) By Technology: Power Reduction, Emission Reduction, Water Reduction, Other Technologies
3) By Application: Mining, Exploration Geology
Asia-Pacific was the largest region in the green mining market share in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the green mining market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Increasing demand for surface mining techniques is driving the growth of the green mining market. For several reasons, surface mining is often preferred over underground mining by mining companies. The surface mining technique is less expensive and also a safe method of mining. Surface mining comprises five sub-types: strip mining, open-pit mining, dredging, high-wall mining, and mountaintop removal. For instance, in 2022, according to Intech Open, Open pit mining had higher productivity, lower productions costs and safer and more hygienic environment which made it more preferable over underground mining. Therefore, the increasing demand for surface mining techniques drives the green mining market rapidly.
Key Industry Players
Major companies operating in the green mining market report are Glencore plc, Jiangxi Copper Corporation, BHP Group Limited, Caterpillar Inc., Rio Tinto Group, Vale S.A., Anglo American plc, Tata Steel Ltd., Komatsu Ltd., Freeport-McMoRan Inc., Valeo SA, Atlas Copco, Teck Resources Limited, Doosan Corporation, Sany Heavy Industry Co. Ltd., Newmont Corporation, Sandvik AB, MA’ADEN, Hitachi Construction Machinery Co. Ltd., First Quantum Minerals Ltd., Shandong Gold Mining Co. Ltd., Albemarle Corporation, Eramet SA, Saudi Arabian Mining Corporation, Lundin Mining Corporation, Liebherr Group, Dundee Precious Metals Inc., Battery Mineral Resources, Joy Global Inc., Century Lithium, Metso Corporation, Outotec Oyj, FLSmidth & Co. A/S, Arena Minerals Inc.
The green mining market report table of contents includes:
1. Executive Summary
2. Green Mining Market Characteristics
3. Green Mining Market Trends And Strategies
4. Green Mining Market – Macro Economic Scenario
5. Global Green Mining Market Size and Growth
…
32. Global Green Mining Market Competitive Benchmarking
33. Global Green Mining Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Green Mining Market
35.Green Mining Market Future Outlook and Potential Analysis
36. Appendix
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