Press release
Green Mining Market Size, Growth Analysis, Top Segments 2024-2033
Green Mining Market
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.
Market Overview -
Green mining is using technologies to decline carbon emissions in operations and mitigate adverse environmental impacts in mining.
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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.
Industry Players Redefine Green Mining With Energy Accelerator Platforms
Major players operating in the green mining market are focused on developing innovative solutions such as green energy accelerator platforms. A green energy accelerator platform refers to a specialized initiative or digital platform designed to accelerate the development, adoption, and scaling of green or renewable energy solutions. For instance, in November 2023, Fortescue Metals, an Australia-based green energy company launched the 'Fortescue Capital'. It is a green energy investment accelerator platform which is developed as a fiduciary for third-party capital. The platform seeks to offer a flexible funding approach, employing models customized for each project and contingent upon formal approval from the Fortescue board.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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