The Surface Mining Global Market Report 2023 by The Business Research Company, provides surface mining market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Surface Mining Global Market Report 2023, the market size will grow from $26.94 billion in 2022 to $28.65 billion in 2023 at a compound annual growth rate (CAGR) of 6.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of tthe global surface mining industry is expected to grow to $34.56 billion in 2027 at a CAGR of 4.8%.
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.
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The surface mining market 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
Strategic partnerships have emerged as a key trend gaining popularity in the surface mining market. Major companies operating in the surface mining market are looking for partnerships to strengthen their position in the market. For instance, in June 2021, Parenti Global, an Australia-based surface mining company, partnered with Sandfire Resources, an Australia-based mining and exploration company. Through this partnership, Parenti Global would expand its surface mining portfolio in Africa. Furthermore, in December 2020, Caterpillar, a US-based equipment and machinery company, partnered with Guardhat, a US-based technology company, to provide surface mining operations with safety solutions through Cat dealers. Through this partnership, both companies developing new system called Cat Connected Worker. This system uses wearable technology to provide increased protection for mine workers. The system will also provide event-based monitoring and mapping to enhance the mining environment.
The surface mining market report table of contents includes:
1. Executive Summary
2. Surface Mining Market Characteristics\
3. Surface Mining Market Trends And Strategies
4. Surface Mining – Macro Economic Scenario
5. Surface Mining Market Size And Growth
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26. Africa Surface Mining Market
27. Surface Mining Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Surface Mining Market
29. Surface Mining Market Future Outlook and Potential Analysis
30. Appendix
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