Overview and Scope
Mining support activities are direct services or service-related activities offered while performing different mining operations.
Sizing and Forecast
The mining support activities market size has grown strongly in recent years. It will grow from <b>$283.99 billion in 2023 to $304.81 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. </b> The growth in the historic period can be attributed to global economic conditions, technological advancements, geopolitical factors.
The mining support activities market size is expected to see strong growth in the next few years. It will grow to <b>$407.48 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. </b> The growth in the forecast period can be attributed to automation and digitalization, global infrastructure development. 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 mining support activities market covered in this report is segmented –
1) By Type: Coal Mining Support Activities, Metal Mining Support Activities, Nonmetallic Minerals Mining Support Activities
2) By Service Provider Type: Independent Contractors, Companies
3) By Application: Mining Companies, Construction Companies, Other Applications
Subsegments Covered: Coal Mining Drilling Services, Coal Mining Exploration Services, Coal Mining Draining Services, Other Coal Mining Support Activities, Metal Mining Drilling Services, Metal Mining Exploration Services, Metal Mining Draining Services, Other Metal Mining Support Activities, Nonmetallic Minerals Mining Drilling Services, Nonmetallic Minerals Mining Exploration Services, Nonmetallic Minerals Mining Draining Services, Other Nonmetallic Minerals Mining Support Activities
<b>Asia-Pacific</b> was the largest region in the mining support activities market in 2023. <b>Western Europe</b> was the second largest region in the mining support activities market. The regions covered in the 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
Government policies to support the mining industry is expected to drive the support activities for mining market. Governments are providing subsidies and encouraging foreign direct investments (FDI) in the mining industry. The amount of government support includes the support through governments’ public finance institutions such as bilateral development banks and export credit agencies investing in mining projects, fiscal support through budget allocations and tax exemptions, and investments through majority state-owned mining and utility companies. For instance, in 2021, the Ministry of mines of the Government of India, enacted the Mines and Minerals Amendment Act 2021, and published The Mineral Conservation and Development Rules to facilitate the growth of Mining industry in India and to regulate the industry.These government policies will continue to support the mining processes and thus are projected to increase the growth of support activities for mining market.
Key Industry Players
Major companies operating in the mining support activities market include <b> Metallurgical Corporation of China Limited, PT United Tractors Tbk, Perenti Global Ltd, NRW Holdings Limited, Weir Group plc, Major Drilling Group International Inc., Aveng Limited, Boart Longyear Ltd., Foraco International SA, Ausdrill Limited, CIMIC Group Limited, Downer Group, DRA Global Ltd., Dyno Nobel, Emeco Holdings Limited, FLSmidth & Co. A/S, Geotech Ltd., Golder Associates Inc., Hatch Ltd., Hexagon AB, Imdex Limited, Komatsu Ltd., Lycopodium Limited, Macmahon Holdings Limited, Mineral Resources Limited, Monadelphous Group Limited, Orica Limited, Outotec Oyj, Sandvik AB, Sedgman Limited, SRK Consulting (UK) Ltd., Thiess Pty Ltd, Worley Limited.</b>
The mining support activities market report table of contents includes:
1. Executive Summary
2.Mining Support Activities Market Characteristics
3.Mining Support Activities Market Trends And Strategies
4. Mining Support Activities Market analysis
5.Mining Support Activities Market Size And Growth
6. Mining Support Activities Segmentation
7. Mining Support Activities Regional And Country Analysis
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27.Mining Support Activities Competitive Landscape And Company Profiles
28.Mining Support Activities Key Mergers And Acquisitions
29.Mining Support Activities Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Metallurgical Corporation of China Limited
- PT United Tractors Tbk
- Perenti Global Ltd
- NRW Holdings Limited
- Weir Group plc
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