Press release
Green Mining Market Size, Top Trends, Outlook Report To 2024 To 2033
Green Mining Market
Market Size And Growth Forecast:
The green mining market size has grown strongly in recent years. It will grow from $9.82 billion in 2023 to $10.66 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to demand for sustainable resource, cost savings through efficiency, community and stakeholder expectations, water and energy efficiency, rehabilitation and restoration initiatives.
The green mining market size is expected to see strong growth in the next few years. It will grow to $14.09 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to circular economy in mining, innovation in mining equipment, eco-friendly materials processing, biodiversity conservation, responsible mineral sourcing initiatives. Major trends in the forecast period include zero-emission vehicles and technologies, blockchain for transparency and traceability, carbon capture and storage (CCS), collaboration for sustainable mining practices, advanced sensor technologies.
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Market Segmentation:
The green mining market covered in this report is segmented -
1) By Type: Surface, Underground
2) By Technology: Power Reduction, Emission Reduction, Water Reduction, Other Technologies
3) By Application: Mining, Exploration Geology
Major Driver - Surface Mining Resurgence Fueling The Rise Of Green Practices In Mining
Increasing demand for surface mining techniques is driving the growth of the green mining market. For several reasons, surface mining is often preferred over underground mining by mining companies. The surface mining technique is less expensive and also a safe method of mining. Surface mining comprises five sub-types: strip mining, open-pit mining, dredging, high-wall mining, and mountaintop removal. For instance, in 2022, according to Intech Open, Open pit mining had higher productivity, lower productions costs and safer and more hygienic environment which made it more preferable over underground mining. Therefore, the increasing demand for surface mining techniques drives the green mining market rapidly.
Competitive Landscape:
Major companies operating in the green mining market report are Glencore plc, Jiangxi Copper Corporation, BHP Group Limited, Caterpillar Inc., Rio Tinto Group, Vale S.A., Anglo American plc, Tata Steel Ltd., Komatsu Ltd., Freeport-McMoRan Inc., Valeo SA, Atlas Copco, Teck Resources Limited, Doosan Corporation, Sany Heavy Industry Co. Ltd., Newmont Corporation, Sandvik AB, MA'ADEN, Hitachi Construction Machinery Co. Ltd., First Quantum Minerals Ltd., Shandong Gold Mining Co. Ltd., Albemarle Corporation, Eramet SA, Saudi Arabian Mining Corporation, Lundin Mining Corporation, Liebherr Group, Dundee Precious Metals Inc., Battery Mineral Resources, Joy Global Inc., Century Lithium, Metso Corporation, Outotec Oyj, FLSmidth & Co. A/S, Arena Minerals Inc.
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Top Trend - Industry Giants Forge Partnerships For Green Mining Advancements
Major companies operating in the green mining market are forming partnerships to develop new products and strengthen their positions in the market. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in October 2023, UpLink, a Switzerland-based digital platform partnered with Prospect Innovation, a Singapore-based metals and mining industry company to discover sustainable mining solutions. The partnership aims to accelerate the green transition in the mining and metal sectors that are tough to decarbonize. The collaboration identifies and supports early-stage green mining startups globally, creating an innovation ecosystem to facilitate their growth and success.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Green Mining Market Characteristics
3. Green Mining Market Trends And Strategies
4. Green Mining Market - Macro Economic Scenario
5. Green Mining Market Size And Growth
…..
27. Green Mining Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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