The surface mining global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Surface Mining Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The surface mining market size has grown steadily in recent years. It will grow from $28.39 billion in 2023 to $29.59 billion in 2024 at a compound annual growth rate (CAGR) of 4.2%. The growth in the historic period can be attributed to growing demand for minerals and natural resources, global economic growth, growing industrialization, availability of large-scale surface mining deposits, increasing urbanization and infrastructure development.
The surface mining market size is expected to see steady growth in the next few years. It will grow to $35.2 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%. The growth in the forecast period can be attributed to implementation of automation and autonomous mining systems, rising demand for rare earth elements, growing focus on sustainable and environmentally friendly mining practices, adoption of advanced geological and surveying technologies, rising trend of automation. Major trends in the forecast period include technological advancements in mining equipment, integration of internet of things (iot) in mining operations, increased use of data analytics for predictive maintenance, expansion of surface mining into new geographical regions, collaboration between mining companies and technology providers for digital transformation.
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Scope Of Surface Mining Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Surface Mining Market Overview
Market Drivers –
The rise in construction projects is significantly contributing to the growth of the surface mining market going forward. Construction is the process of building, altering, repairing, remodeling, improving, or demolishing any structure. Surface mining is helpful for construction sites for erecting structures and infrastructure components required for modern living, such as sand, gravel, gypsum, and limestone. For instance, according to Invest India, an India-based investment promotion and facilitation agency, the construction industry in India is expected to reach $1.4 trillion by 2025. In addition, the real estate industry in India is expected to reach $1 trillion by 2030 and will contribute 13% to India’s GDP. Therefore, the rise in construction projects drives the surface mining market going forward.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The surface mining market covered in this report is segmented –
1) By Type: Strip Mining, Open Pit Mining, Terrace Mining, Other Types
2) By Mineral: Metallic Ore, Non-Metallic Ore, Coal Mining
3) By End User: Metal, Electric Power Industry, Manufacturing, Other End Users
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Regional Insights –
North America was the largest region in the surface mining market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the surface mining market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the surface mining market report are Perenti Limited, American Mine Services LLC, Macmahon Holdings Limited, Bayswater Constructions Pvt. Ltd., Laxyo Energy Limited, Mining Plus Pty Ltd., Technica Group Inc., Banks Group Ltd., Day Group Ltd., Goldcorp Global Mining Pvt. Ltd., Rio Tinto Company Limited, The Broken Hill Proprietary Company Limited, Komatsu Ltd., Caterpillar Inc., Sandvikens Jernverks AB, Atlas Copco AB, Hitachi Construction Machinery Co. Ltd., Coal India Limited, Joy Global Inc., Metso Corporation, Terex Corporation, Liebherr-International AG, HD Hyundai Infracore Co. Ltd., Volvo Construction Equipment AB, CNH Industrial NV, Joseph Cyril Bamford Excavators Ltd., Sany Heavy Industry Co. Ltd., Xuzhou Construction Machinery Group Co. Ltd., Zoomlion Heavy Industry Science and Technology Co. Ltd., Wirtgen GmbH, Bell Equipment Limited, BEML Limited, FLSmidth & Co. A/S, GHH Fahrzeuge GmbH, Haver & Boecker Niagara GmbH
Table of Contents
1. Executive Summary
2. Surface Mining Market Report Structure
3. Surface Mining Market Trends And Strategies
4. Surface Mining Market – Macro Economic Scenario
5. Surface Mining Market Size And Growth
…..
27. Surface Mining Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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