Dublin, Feb. 19, 2025 (GLOBE NEWSWIRE) — The “Mining Market Opportunities and Strategies to 2033” report has been added to ResearchAndMarkets.com’s offering.
This report describes and explains the mining market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global mining market reached a value of nearly $2.1 trillion in 2023, having grown at a compound annual growth rate (CAGR) of 3.39% since 2018. The market is expected to grow from $2.1 trillion in 2023 to $2.8 trillion in 2028 at a rate of 6.04%. The market is then expected to grow at a CAGR of 5.42% from 2028 and reach $3.7 trillion in 2033.
The global mining market is fairly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up 14.5% of the total market in 2023. BHP Group Limited (BHP Billiton) was the largest competitor with a 2.5% share of the market, followed by Glencore plc with 2.4%, Rio Tinto Group with 2%, Vale S.A. (Companhia Vale do Rio Doce) with 1.7%, Anglo American plc with 1.3%, China Shenhua Energy Company Limited with 1.3%, Jiangxi Copper Corporation Limited with 1%, China Coal Energy Company Limited with 0.9%, Yankuang Group Company Limited with 0.7% and Hindustan Zinc Limited with 0.5%.
Market-trend-based strategies for the mining market include focus on launch of new cobalt production initiatives for sustainable technologies, focus on investment in sustainable ironmaking technologies to reduce carbon emissions, drone technology for precise stockpile evaluation in mining and technological advancements in wireless ground movement measurement.
Player-adopted strategies in the mining market include focus on expanding business capabilities through strategic acquisitions, increasing investments to reinforce position in the market and strategic collaborations and partnerships to pioneer battery-electric trucks and energy transfer systems in sustainable mining operations.
Growth in the historic period resulted from the rise in coal production and consumption and increasing demand for minerals and metals. Factors that negatively affected growth in the historic period include geopolitical tensions, negative environmental impacts of mining and mining accidents. Going forward, the rising construction activities globally, increasing urbanization, increasing industrialization, favorable government support and rising investments in mining exploration projects will drive the market. Factors that could hinder the growth of the mining market in the future include alternative sources for power generation and reductions in free trade.
The mining market is segmented by type into mining support activities, general minerals, stones, copper, nickel, lead and zinc, metal ore and coal, lignite and anthracite. The coal, lignite and anthracite market was the largest segment of the mining market segmented by type, accounting for 41.73% or $882.17 billion of the total in 2023. Going forward, the general minerals segment is expected to be the fastest growing segment in the mining market segmented by type, at a CAGR of 9.94% during 2023-2028.
The mining market is segmented by process into underground mining and surface mining. The surface mining market was the largest segment of the mining market segmented by process, accounting for 60.42% or $1.27 trillion of the total in 2023. Going forward, the underground mining segment is expected to be the fastest growing segment in the mining market segmented by process, at a CAGR of 6.60% during 2023-2028.
The mining market is segmented by service provider into independent contractors and companies. The companies market was the largest segment of the mining market segmented by service provider, accounting for 53.91% or $1.13 trillion of the total in 2023. Going forward, the independent contractors segment is expected to be the fastest growing segment in the mining market segmented by service provider, at a CAGR of 6.63% during 2023-2028.
Asia-Pacific was the largest region in the mining market, accounting for 62.59% or $1.32 trillion of the total in 2023. It was followed by North America, Eastern Europe and then the other regions. Going forward, the fastest-growing regions in the mining market will be the Middle East and South America, where growth will be at CAGRs of 14.74% and 10.14% respectively. These will be followed by Africa and North America, where the markets are expected to grow at CAGRs of 6.86% and 5.75% respectively.
To take advantage of the opportunities, the analyst recommends the mining companies to focus on sustainable cobalt production initiatives, focus on sustainable ironmaking technologies, focus on adopting drone technology in mining, focus on developing innovative products with advanced technologies, focus on the copper, nickel, lead, and zinc segment, focus on the underground mining segment, expand in emerging markets, focus on developing competitive pricing strategies, continue to use B2B promotions and focus on independent contractors in mining.
Growth Opportunities
- The top opportunities in the mining market segmented by type will arise in the metal ore segment, which will gain $226.63 billion of global annual sales by 2028.
- The top opportunities in the mining market by process will arise in the surface mining segment, which will gain $404.93 billion of global annual sales by 2028.
- The top opportunities in the mining market by service provider will arise in the independent contractors segment, which will gain $369.07 billion of global annual sales by 2028.
- The mining market size will gain the most in China at $152.66 billion.
Major Market Trends
- Launch of New Cobalt Production Initiatives For Sustainable Technologies
- Focus on Investment in Sustainable Ironmaking Technologies To Reduce Carbon Emissions
- Drone Technology For Precise Stockpile Evaluation in Mining
- Technological Advancements in Wireless Ground Movement Measurement
Key Mergers and Acquisitions
- JSW Steel Acquired M Res NSW HCC Pty Ltd
- MACH Metals Acquired Rex Minerals
- Zijin Mining Group Co Ltd Acquired Montage Gold Corp
- BHP Acquired Anglo American
- International Resources Holding (IRH) Acquired Mopani Copper Mines Plc
- MMG Limited Acquired Khoemacau Copper Mine
- Newmont Corporation Acquired Newcrest Mining Ltd
- Loke Marine Acquired Seabed Resources (UKSR)
- Caledonia Mining Corporation Plc Acquired Motapa Mining Company
- Cosan SA Acquired Vale SA
- FLSmidth Acquired Mining Business From Thyssenkrupp
- Adani Enterprises Ltd Acquired Alluvial Mineral Resources (AMRPL)
- Tata Steel Mining Acquired Rohit Ferro-Tech (RFT)
- Evolution Mining Acquired Ernest Henry Mining
- Sibanye-Stillwater Acquired Atlantic Nickel From Appian Capital Advisory LLP
- Sibanye-Stillwater Acquired Mineracao Vale Verde From Appian Capital Advisory LLP
- Glencore Acquired Weser-Metall
- Mithril Resources Limited Acquired Sun Minerals Pty Ltd
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 415 |
| Forecast Period | 2023 – 2033 |
| Estimated Market Value (USD) in 2023 | $2.1 Trillion |
| Forecasted Market Value (USD) by 2033 | $3.7 Trillion |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
Key Topics Covered:
1 Executive Summary
1.1 Mining – Market Attractiveness and Macro Economic Landscape
2 Table of Contents
3 List of Tables
4 List of Figures
5 Report Structure
6 Market Characteristics
6.1 General Market Definition
6.2 Summary
6.3 Mining Market Definition and Segmentations
6.4 Market Segmentation by Type
6.4.1 Mining Support Activities
6.4.2 General Minerals
6.4.3 Stones
6.4.4 Copper, Nickel, Lead and Zinc
6.4.5 Metal Ore
6.4.6 Coal, Lignite and Anthracite
6.5 Market Segmentation by Process
6.5.1 Underground Mining
6.5.2 Surface Mining
6.6 Market Segmentation by Service Provider
6.6.1 Independent Contractors
6.6.2 Companies
7 Product/Service Analysis – Product/Service Examples
8 Mining Market, Supply Chain Analysis
8.1 Mining
8.2 Transportation
8.3 End-Users
9 Customer Information
9.1 Client Satisfaction With Sorting Technology and Sustainability Impact
9.2 Mining Compensation Survey Reveals Trends in Compensation Practices
9.3 Recruitment Trends in Mining
9.4 Employee Value Proposition (EVP) in Mining
9.5 Investors Risk in Mining
9.6 Increase in Global Commitment To Reduce Emissions
9.7 Survey Highlights Consolidation Within Battery Minerals
10 Major Market Trends
10.1 Launch of New Cobalt Production Initiatives For Sustainable Technologies
10.2 Focus on Investment in Sustainable Ironmaking Technologies To Reduce Carbon Emissions
10.3 Drone Technology For Precise Stockpile Evaluation in Mining
10.4 Technological Advancements in Wireless Ground Movement Measurement
11 Mining Market – Macro Economic Scenario
11.1 COVID-19 Impact on the Mining Market
11.2 Impact of the War in Ukraine on the Mining Market
11.3 Impact of High Inflation on the Mining Market
12 Global Market Size and Growth
12.1 Market Size
12.2 Historic Market Growth, 2018-2023, Value ($ Billion)
12.2.1 Market Drivers 2018-2023
12.2.2 Market Restraints 2018-2023
12.3 Forecast Market Growth, 2023-2028, 2033F Value ($ Billion)
12.3.1 Market Drivers 2023-2028
12.3.2 Market Restraints 2023-2028
13 Global Mining Market Segmentation
13.1 Global Mining Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Billion)
13.2 Global Mining Market, Segmentation by Process, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Billion)
13.3 Global Mining Market, Segmentation by Service Provider, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Billion)
14 Mining Market, Regional and Country Analysis
14.1 Global Mining Market, by Region, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Billion)
14.2 Global Mining Market, by Country, Historic and Forecast, 2018-2023, 2028F, 2033F, Value ($ Billion)
For more information about this report visit https://www.researchandmarkets.com/r/efyk81
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