Press release
Global Surface Mining Market is projected to reach significant market size by 2027 – Research Nester
“Surface Mining Market: Global Demand Analysis & Opportunity Outlook 2027”Product Overview
Mining is a process of extraction of the useful mineral from the earth crust. Surface mining is a segment of the mining in which mineral deposits are obtained by removing the upper layer of soil and rock for excavation of underlying minerals. It is a method of mining which provides safety, recovery and flexibility in comparison to other mining methods. The surface mining enables better excavation of minerals from the surface of the earth. It is opposite to the underground mining in which overlying rock is left in place. Surface Mining uses large machineries for excavation processes. Surface mining process is the cheaper process of mining which uses advanced machinery equipped with technological advancement. The machines uses advanced cutting technology which does not uses any blasting and drilling activities.
Market Size and Forecast
The Global Surface Mining Market is anticipated to expand at a significant CAGR during 2018-2027. It is projected to reach significant market size by 2027. The expansion in the mining industry across the globe couple with the technical advancement is anticipated top increase the market size of the global surface mining market during the forecast period.
The global surface mining market can be segmented on the basis of mining method and mineral. On the basis of mining method, it is sub-segmented into mountain removal mining, open pit mining, strip mining and others. Strip mining sub-segment is anticipated to witness substantial growth during the forecast period. It is applied to both the surface of the ground and relatively horizontal with minimum depth under the surface.
On the basis of mineral, it is sub-segmented into coal mining, metallic ore and non-metallic ore. Metallic ore mining sub-segment is anticipated to be the fastest growing sub-segment. It involves the mining of the major metals such as gold, silver, copper and zinc. These metals have wide application for the various industrial, commercial and household purposes.
By region, global surface mining market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is anticipated to hold the largest market share for the global surface mining market. The high presence of metallic and non-metallic reserves in the region is anticipated to increase the demand for the various surface mining methods during the forecast period. Asia-Pacific region is anticipated to showcase substantial growth during the forecast period. The expansion of the mining industry in the region is increasing the application of different types of mining methods.
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Market Segmentation
Our in-depth analysis segmented the global surface mining market in the following segments:
By Mining Method: Mountain Removal Mining, Open Pit Mining, Strip Mining, Others
By Mineral: Coal Mining, Metallic Ore, Non-metallic Ore
By Region: Global surface mining market is further classified on the basis of region as follows:, North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis, Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis, Europe (U.K., Germany, France, Italy, Spain, Hungary, Turkey Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis, Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis., Middle East and Africa (GCC, Israel, North Africa, South Africa, Rest of Middle East) Market size, Y-O-Y growth & Opportunity Analysis.
Growth Drivers and Challenges
The various factors such as low injury rates, better grade control and increased flexibility and durability is anticipated to be a major growth driver for the global surface mining market during the forecast period. The other growth driver such as increasing demand for the metallic and non-metallic minerals, low investment and increasing consumption of energy are leading to expansion of global surface mining market. The increasing marine activity in the different region of world is also a growth driver for the global surface mining market. The increasing demand for the coal for power generation is anticipated to increase the coal mining activities which in turn boost the global surface mining market. Rising population across the globe is anticipated increase the demand for the electricity. The increasing demand for the electricity is anticipated to increase the mining activities which in turn increase the growth of global surface mining market during the forecast period.
However, strict government regulations regarding the land acquisition may act as a restrain for the global surface mining market. Additionally, excess mining activities may contaminate the soil which may restrict the market growth of global surface mining market.
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Key Players
Coal India Limited, Anglo American, BHP Billiton, Rio Tinto, Glencore , China Shenhua Energy, Vale S.A., Freeport-McMoran, Barrick Gold Corporation, Goldcorp Inc., Barrick Gold Corporation
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Contact for more Info:
Name: - Ajay Daniel
Email: ajay.daniel@researchnester.com
U.S. +1 646 586 9123
U.K. +44 203 608 5919
Global surface mining market is anticipated to flourish at a significant CAGR over the forecast period. Factors such as increasing consumption of coal and rising demand for metals and minerals are anticipated to fuel the growth of the surface mining market during the forecast period.
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