Global Surface Mining Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
Surface Mining Market Report offers in-depth insights, revenue details, and other vital information regarding the global surface mining market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2031.
The Surface Mining Market report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint.
The global surface mining market report has been segmented on the basis of type, application, and region.
This Surface Mining Market report is based on the synthesis, analysis, and interpretation of information gathered regarding the target market from various sources.
Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market.
In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in the future.
Surface Mining Market Overview:
“The Surface Mining Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Surface mining refers to the mining technique where the overlying layer of soil and rock is removed, and excavate the underlying minerals. As compared to underground mining, this method provides better recovery, safety, flexibility, environmental condition,s and grade control ability.
This assures maximum utilization of mines and helps in reducing the processing costs involved in crushing.
Increasing demand for metallic and non-metallic minerals, an abundance of reserves, less capital requirement, and increasing energy consumption are some of the factors that are driving the surface mining market growth.
In addition, advancements in mining technologies, growing concerns among countries regarding energy security, and increasing energy demand act as a major opportunity for the surface mining market.
Moreover, supporting government regulations such as the Surface Mining Control and Reclamation Act, 1977, and the establishment of safety zone near the mine surface, etc. play an important role in the growth of the target market.
Recent developments, the vast horizontal and ground-level reserves, and surging demand for iron-ore, diamond, chromium, and coal, will gain momentum in the upcoming period. However, difficulties related to land acquisition act as a restraint in the surface mining market.
Asia Pacific market is projected to dominate the global surface mining market owing to high investment in some economies including China, Indonesia, Australia, and Malaysia.
Governments have been investing high in mineral and metal extraction which is likely expected to propel the demand for surface mining. Moreover, increasing mining activities and growing demand for technically advanced solutions mainly in emerging nations are estimated to fuel the industry in the upcoming period.
Also, stringent government regulations in these markets are forcing mine operators to deploy advanced machinery and equipment to reduce emissions and match safety regulations.
Furthermore, the North American market is estimated to witness rapid growth during the forecast period due to technological advancements and the early adoption of surface mining solutions and services in the region.
Whereas, Latin America and Africa are also expected to observe considerable growth through the forecast period with the growing mining sector.
According to the Mining Association of Canada, in 2014, the total mining establishments in Canada were held to be 1,201, out of which, 1,136 reserves were non-metallic mining establishments. U.S. and Canada are believed to be the major contributor to the growth of the surface mining market in the North American region.
Global Surface Mining Market Segmentation:
Segmentation by Type:
- Strip Mining
- Terrace Mining
- Open-Pit Mining
- Others (Mountaintop removal, Dredging, High wall Mining)
Segmentation by Application
- Coal Mining
- Metal Mining
- Mineral Mining
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Komatsu Ltd
- Caterpillar Inc.
- Sandvik AB
- Atlas Copco AB
- Hitachi Construction Machinery Co., Ltd
- BHP Billiton
- Vale S.A
- Rio Tinto
- Anglo American Plc.
- Freeport-McMoRan Inc.
- Barrick Gold Corporation
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