The Green Mining Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Green Mining Global Market Report 2024, 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.
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.
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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
Major companies operating in the green mining market are forming partnerships to develop new products and strengthen their positions in the market. Strategic partnerships refer to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success. For instance, in October 2023, UpLink, a Switzerland-based digital platform partnered with Prospect Innovation, a Singapore-based metals and mining industry company to discover sustainable mining solutions. The partnership aims to accelerate the green transition in the mining and metal sectors that are tough to decarbonize. The collaboration identifies and supports early-stage green mining startups globally, creating an innovation ecosystem to facilitate their growth and success.
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
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26. South America Green Mining Market
27. Brazil Green Mining Market
28. Middle East Green Mining Market
29. Africa Green Mining Market
30. Green Mining Market Competitive Landscape And Company Profiles
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