Press release
Strong Growth Ahead: Mining Support Activities Market Size To Grow At Arecord 7.5% Cagr By 2029
Mining Support Activities Market
How Big Is the Mining Support Activities Market Size Expected to Be by 2034?
The mining support activities market size has grown strongly in recent years. It will rise from $310.56 billion in 2024 to $335.73 billion in 2025 at a CAGR of 8.1%. This growth can be attributed to global economic conditions, technological advancements, and geopolitical factors.
The mining support activities market size is expected to see strong growth in the upcoming years. It will grow to $448.76 billion by 2029, at a compound annual growth rate (CAGR) of 7.5%. This growth is driven by automation and digitalization and the global development of infrastructure. Major trends include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, and collaboration and partnerships.
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What Are the Emerging Segments Within the Mining Support Activities Market?
The mining support activities market covered in this report is segmented -
1) By Type: Coal Mining Support Activities, Metal Mining Support Activities, Nonmetallic Minerals Mining Support Activities
2) By Service Provider Type: Independent Contractors, Companies
3) By Application: Mining Companies, Construction Companies, Other Applications
Subsegments:
1) By Coal Mining Support Activities: Underground Coal Mining Support, Open-Pit Coal Mining Support, Coal Exploration Services, Coal Mine Development Services, Coal Mine Operation and Maintenance Services
2) By Metal Mining Support Activities: Gold and Silver Mining Support, Copper Mining Support, Iron Ore Mining Support, Lead and Zinc Mining Support, Other Metal Mining Support Activities
3) By Nonmetallic Minerals Mining Support Activities: Stone Mining Support, Sand and Gravel Mining Support, Clay and Ceramic Material Mining Support, Lime Mining Support, Other Nonmetallic Mineral Mining Support Activities
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What Long-Term Drivers Are Shaping Mining Support Activities Market Trends?
Supportive government policies are expected to stimulate the support activities for mining market. Governments are incentivizing the mining sector through public finance institutions, fiscal support, and investments via state-owned enterprises. For instance, India's Ministry of Mines implemented the Mines and Minerals Amendment and released new development rules to regulate and promote the sector. These efforts are likely to drive continued growth in support activities for mining.
Who Are the Top Competitors in Key Mining Support Activities Market Segments?
Major companies operating in the mining support activities market include Metallurgical Corporation of China Limited, PT United Tractors Tbk, Perenti Global Ltd, NRW Holdings Limited, Weir Group plc, Major Drilling Group International Inc., Aveng Limited, Boart Longyear Ltd., Foraco International SA, Ausdrill Limited, CIMIC Group Limited, Downer Group, DRA Global Ltd., Dyno Nobel, Emeco Holdings Limited, FLSmidth & Co. A/S, Geotech Ltd., Golder Associates Inc., Hatch Ltd., Hexagon AB, Imdex Limited, Komatsu Ltd., Lycopodium Limited, Macmahon Holdings Limited, Mineral Resources Limited, Monadelphous Group Limited, Orica Limited, Outotec Oyj, Sandvik AB, Sedgman Limited, SRK Consulting (UK) Ltd., Thiess Pty Ltd, Worley Limited.
What Are the Major Trends Shaping the Mining Support Activities Market?
Mining firms are turning to GIS technology to monitor critical aspects like sustainability and compliance. GIS captures and analyzes spatial data and supports exploration by integrating diverse geological datasets. It also provides 3D visualization for various phases including production and reclamation. As per GISGIG, the global GIS market is projected to reach $12.7 billion by 2024.
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Which Regions Are Becoming Hubs for Mining Support Activities Market Innovation?
Asia-Pacific was the largest region in the mining support activities market in 2023. Western Europe was the second largest region in the mining support activities market. The regions covered in the mining support activities market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Mining Support Activities Market?
2. What is the CAGR expected in the Mining Support Activities Market?
3. What Are the Key Innovations Transforming the Mining Support Activities Industry?
4. Which Region Is Leading the Mining Support Activities Market?
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