Press release
Marine Mining Market 2022 Segment Overview, Company Profiles, Regional Analysis and Forecast 2031
Marine mining is the process of retrieving mineral deposits from the sea and the area of the ocean below 200 m. Several metals and minerals are available for extraction in the deep sea including silver, gold, copper, manganese, cobalt, and zinc. The International Seabed Authority (ISA), which regulates activities in areas beyond national jurisdiction, has issued 29 contracts for the exploration of deep-sea mineral deposits.
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Automobile Manufacturing to Boost Marine Mining Market
The rise in interest in next-gen vehicles like electric cars, and automated cars will open new opportunities for players in the global marine mining market. In countries like Germany, the US, and Japan, the demand for industrial metal like platinum, nickel, and copper remains extremely high, thanks to rising production for automobiles.
Moreover, depletion of terrestrial deposits, and rise in population is expected to drive more investments towards seabed exploration. The established framework for exploring seabed mining operations, and growing activity towards exploring the deep-end of the ocean will create more opportunities in the near future.
Advanced Monitoring and Surveillance Solution Promise to Open New Opportunities
Advanced IoT monitoring solutions are expected to open new opportunities in the market as 24/7 surveillance, data management technique open up new avenues for growth. The growing reliance on data analytics for maintaining and repairing mining equipment also promises substantial cost-savings, and additional safety. The technological advancements also make it easier to engage in underwater exploration activity with unmanned vehicles with improving flight durations.
The increasing efficiency and reliability of these machines will create new opportunities for growth for the global marine mining market. The advanced analytic solutions and introduction of Internet of Things or IoT promises new opportunities for growth in the global marine mining market.
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The global marine mining market has been segmented as follows:
Global Marine Mining Market, by Technology
Remotely Operated Vehicles (ROVs)
SONAR
Marine Seismic Methods
Global Marine Mining Market, by Application
Automotive
Precious Metals
Construction
Electronics
Others (including Industrial Machinery and Consumer Goods)
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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