About Surface Mining-
Surface mining is a method of extracting valuable minerals or resources from the Earth's surface. It's employed in contrast to underground mining, where the overlying rock is left in place and the mineral is removed through tunnels or shafts. There are several different types of surface mining, each with its advantages and disadvantages. The most common types of surface mining include strip mining, open-pit mining, etc. The surface mining market is expected to experience moderate growth in the coming years, driven by factors like increasing demand for minerals and construction activities.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The market for surface mining is dynamic, with continuous advancements in technology, design, and features. Competition among existing players is due to the stiff market share occupied by leading players. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to help them improve sustenance and maintain their competitive advantages. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Surface Mining- market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
BHP (Australia), Rio Tinto (United Kingdom), Vale (Brazil), Newmont Corporation (United States), Epiroc (Sweden), Glencore (Switzerland), CHINA SHENHUA (China), Coal India Ltd. (India), Aluminium Corp (China) and Freeport-McMoRan (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Codelco (Chile), GRUPO MÉXICO (United States), Macmahon (Australia), BAI GROUP LLC (United States), Fortescue (Australia) and Anglo American plc (United Kingdom).
Segmentation Overview
AMA Research has segmented the market of Global Surface Mining- market by Type (Mechanical Methods (Open-Pit Mining, Open Cast Mining, Quarrying, Auger Mining) and Aqueous Methods (Dredging, Hydraulic Mining, Solution Mining, Heap Leaching)), Application (Coal Mining, Metal Mining, Mineral Mining and Others) and Region.
On the basis of geography, the market of Surface Mining- has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Mineral Type, the sub-segment i.e. Metallic Ores will boost the Surface Mining- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Advancements in Mining Equipment
Market Growth Drivers:
Growing Demand for Minerals and Rapid Industrialization and Urbanization
Challenges:
Stringent Government Regulations Related to Environment Protection
Restraints:
High Cost of Maintenance and Mining Equipment
Opportunities:
Growth in Construction and Infrastructure Development Projects and Increasing Demand in Developing Economies like China, India, and Brazil
Market Leaders and their expansionary development strategies
In November 2023, Newmont successfully acquired Newcrest Mining, creating the world's largest gold mining business with a significant copper production profile. This acquisition strengthens Newmont’s position as the responsible gold mining leader through the combination of high-quality operations, projects and reserves concentrated in low-risk jurisdictions, including 10 Tier 1 operations* to support decades of safe, profitable and responsible gold and copper production.
In December 2023, Epiroc launched new digital solutions specifically designed for the surface mining industry. The launch includes Blast Support, and Situational Awareness, which has a new feature with the capability to direct warning messages to people located in defined risk zones. These solutions aim to improve safety, efficiency, and productivity in surface mining operations.
Key Target Audience
Government Bodies and Regulatory, Mining Companies, Potential Investors, Research Organization, Share Holders and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.