Copper Mining Market - Market Future Growth Opportunities | 2020
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Escalating demand of copper from industrial economies such as China and India is the major factor driving investment in the copper mining market. Currently, China is the largest consumer of industrial metals and represents a major share of the global copper consumption. Many nations in Asia Pacific are transforming into major industrial economies which would bolster the demand for copper in these nations. Countries such as Indonesia and Vietnam are also prospective nations for the growth of this market. Massive infrastructure developments planned in Asia, South America and Africa are also anticipated to drive investments in the copper mining industry. Copper is also utilized in the development of telecommunication and power infrastructure. However, increasing operating costs in the copper mining industry is one of the major restraints hindering further investment in this sector.
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The market for copper mining can be segmented into two major categories depending upon the mining technique employed in extraction. On the basis of mining methods used the market can be into categorized as underground mining and, open pit mining. Open pit copper mining is the predominant method used for extraction due to flexible operation techniques, optimized production levels, and relatively low investment costs. The market can also be segmented in on the basis of end-user industries. The major end-user segments in this market are equipment manufacturers, building and construction industry, infrastructure, and transportation industry. The equipment manufacturers are the major consumers in this market.
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