Overview and Scope
Metal mining support activities are direct services or service-related activities offered while performing different operations for metal mining.
Sizing and Forecast
The metal mining support activities market size has grown strongly in recent years. It will grow from <b>$172.65 billion in 2023 to $184.72 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. </b> The growth in the historic period can be attributed to commodity prices, technological advancements, global economic trends, geopolitical factors.
The metal mining support activities market size is expected to see strong growth in the next few years. It will grow to <b>$249.06 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. </b> The growth in the forecast period can be attributed to metal demand, environmental sustainability. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships, .
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Segmentation & Regional Insights
The metal mining support activities market covered in this report is segmented –
1) By Type: Metal Mining Drilling Services, Metal Mining Exploration Services, Metal Mining Draining Services, Other Metal Mining Support Activities
2) By Process: Underground, Opencast
3) By Service Provider Type: Independent Contractors, Companies
<b>Asia-Pacific</b> was the largest region in the metal mining support activities market in 2023. South America was the second largest region in the metal mining support activities market. The regions covered in the metal mining support activities market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increasing demand for metals is expected to propel the growth of the metal mining support activities market going forward. Metals refer to a solid material characterized by its high electrical conductivity, malleability, and luster, typically with a crystalline atomic structure. Metal mining activities support increased demand for metals by supplying essential raw materials for various industries, including construction, electronics, and manufacturing, driving economic growth and technological advancement. For instance, in 2022, according to the World Steel Association, a Belgium-based non-profit association, the demand for steel will increase by 0.4% to 1840.2 Mt. The demand for steel will increase by 2.2% in 2023 to 1,881.4 metric tons. Therefore, the increasing demand for metals will drive the metal mining support activities market.
Key Industry Players
Major companies operating in the metal mining support activities market include <b> Metallurgical Corporation of China Limited, Hochtief AG, NRW Holdings Limited, Weir Group plc, Major Drilling Group International Inc., Aveng Limited, Boart Longyear Ltd., Foraco International SA, PT United Tractors Tbk, Perenti Global Ltd., Ausenco Limited, AusGroup Limited, Ausmex Mining Group Limited, AusTin Mining Limited, Auswide Mining Group Limited, Barminco Holdings Pty Limited, BGC Contracting Pty Ltd., Bis Industries Holdings Limited, Byrnecut Australia Pty Ltd., Cementation USA Inc., CIMIC Group Limited, Clough Limited, Coffey International Limited, Downer EDI Limited, DRA Global Limited, Dyno Nobel Inc., Energold Drilling Corp., FLSmidth & Co. A/S, Golder Associates Corporation, Hatch Ltd., Imdex Limited, KBR Inc., Lycopodium Limited, Macmahon Holdings Limited, Monadelphous Group Limited, Orica Limited.</b>
The metal mining support activities market report table of contents includes:
1. Executive Summary
2.Metal Mining Support Activities Market Characteristics
3.Metal Mining Support Activities Market Trends And Strategies
4.Metal Mining Support Activities Market analysis
5. Metal Mining Support Activities Market Size And Growth
6.Metal Mining Support Activities Segmentation
7.Metal Mining Support Activities Regional And Country Analysis
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27. Metal Mining Support Activities Competitive Landscape And Company Profiles
28. Metal Mining Support Activities Key Mergers And Acquisitions
29.Metal Mining Support Activities Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Metallurgical Corporation of China Limited
- Hochtief AG
- NRW Holdings Limited
- Weir Group plc
- Major Drilling Group International Inc.
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