Dublin, Dec. 27, 2024 (GLOBE NEWSWIRE) — The “Green Mining Market: Analysis By Mining Type, By Technology, By Region Size and Trends – Forecast up to 2029” report has been added to ResearchAndMarkets.com’s offering.
The global green mining market in 2023 stood at US$12.11 billion and is likely to reach US$21.32 billion by 2029. The global green mining market is projected to grow at a CAGR of 9.88% during the forecast period of 2024-2029.
The growth of the global green mining market is driven by increasing environmental regulations and the growing demand for sustainable mining practices. Governments and organizations worldwide are emphasizing the reduction of greenhouse gas emissions, water usage, and land degradation caused by traditional mining activities. Advances in technologies, such as renewable energy integration, water recycling, and precision mining, are enabling mining companies to adopt eco-friendly processes while improving operational efficiency.
Additionally, the rising awareness among investors and consumers about environmentally responsible practices has prompted mining firms to implement greener methods to enhance their corporate social responsibility (CSR) credentials. The market is further supported by the surging demand for sustainably sourced minerals in industries like renewable energy, electric vehicles, and electronics, aligning with global decarbonization goals.
Market Segmentation Analysis:
By Mining Type: In 2023, the surface segment dominated the market share due to its cost-effectiveness, operational simplicity, and ability to extract large volumes of minerals with minimal resource input. Surface mining techniques, such as open-pit and strip mining, are easier to implement with green technologies like renewable energy, water management systems, and dust suppression methods. Additionally, advancements in equipment automation and precision mining technologies have made surface mining more efficient and environmentally friendly, further driving its dominance in the market. On the other hand, underground segment is expected to grow the fastest during forecasted period due to increasing investments in advanced technologies that enhance safety, efficiency, and sustainability in subsurface operations. Innovations such as automated mining equipment, real-time monitoring systems, and low-emission ventilation solutions are making underground mining more viable and environmentally friendly. Additionally, the growing demand for high-value minerals located in deeper deposits and the need to minimize surface disruption are encouraging the adoption of underground mining.
By Technology: Power reduction segment holds the largest market share in 2023 due to the growing emphasis on energy efficiency and cost savings in mining operations. Mining companies are increasingly adopting renewable energy sources, energy-efficient equipment, and smart grid technologies to reduce electricity consumption and operational expenses. The rising costs of conventional energy and the push to meet stringent carbon reduction targets have further incentivized investments in power reduction strategies. On the other hand, emission reduction segment is expected to grow the fastest during forecasted period due to increasing regulatory pressure to curb greenhouse gas emissions and the global shift toward decarbonization. Mining companies are adopting cleaner technologies, such as electric and hybrid mining equipment, carbon capture and storage (CCS), and renewable energy integration, to reduce their carbon footprint.
By Region: In 2023, Asia Pacific dominated the global green mining market and is expected to grow at the fastest CAGR from 2024 to 2029 due to rapid industrialization, urbanization, and the region’s abundant mineral resources. Countries like China and India are heavily investing in sustainable mining practices to meet increasing domestic demand while addressing environmental concerns. Government initiatives promoting green technologies, stricter environmental regulations, and the adoption of renewable energy and advanced mining equipment are driving growth in the region. Additionally, the rising demand for sustainably sourced minerals in industries such as electronics and renewable energy further boosts the market’s expansion in Asia Pacific.
Global Green mining Market Dynamics:
Growth Drivers: Rising green finance is a significant growth driver of the global green mining market, as it provides the necessary capital for companies to transition toward more sustainable practices. Green bonds, loans, and investment funds dedicated to environmental initiatives enable mining firms to adopt advanced eco-friendly technologies, such as renewable energy integration, waste recycling systems, and emission control solutions. Financial institutions and investors are increasingly prioritizing projects with strong environmental, social, and governance (ESG) criteria, aligning with global sustainability goals. This access to green finance not only reduces the financial burden of implementing costly green technologies but also enhances the competitiveness and reputation of mining companies, accelerating the market’s growth. Further, the market is expected to grow owing to increased demand for critical minerals, increasing environmental regulations, growing focus on sustainability and ESG goals, rising public and corporate awareness, economic benefits of sustainable practices etc. in recent years.
Challenges: High initial investment cost is a significant challenge in the global green mining market, as implementing sustainable technologies and practices often requires substantial upfront capital. Transitioning to green mining involves expenses for advanced equipment, renewable energy systems, waste management technologies, and compliance with stringent environmental regulations. These costs can be a deterrent, especially for small and medium-sized mining companies with limited financial resources. Additionally, the lengthy payback period for these investments can further discourage adoption. Additionally, factors like difficulty in reporting sustainability impact etc. are other challenges to the market.
Market Trends: The expansion of circular economy practices is a key trend driving the global green mining market, as it emphasizes resource efficiency, waste minimization, and sustainable production cycles. Circular economy approaches encourage recycling and reusing mining waste, reducing dependency on virgin raw materials and lowering environmental impact. Mining companies are adopting technologies to recover valuable materials from tailings and scrap, promoting a closed-loop system. This not only reduces costs but also aligns with consumer and regulatory demands for sustainable practices. As industries increasingly prioritize circularity, the demand for eco-friendly mining practices will continue to grow, fostering long-term market expansion. More trends in the market are believed to grow the green mining market during the forecasted period, which may include the increased use of automation and AI, adoption of renewable energy in mining operations, focus on carbon neutrality, digital twin technology in mining, advancements in bio-mining etc.
Further, key players in the green mining market are:
- BHP Group
- Rio Tinto
- Vale
- Anglo American
- Glencore
- Tata Steel (Tata Steel Mining Limited)
- Freeport-McMoRan
- Newmont
- Dundee Precious Metals
- Sumitomo Metal Mining Co., Ltd.
- ArcelorMittal
Companies focus on R&D to create innovative technologies, invest in modern production technology, and employ novel marketing techniques emphasizing customer awareness and education. Strategic partnerships, mergers, and acquisitions are common as firms seek to expand their product offerings and market presence. An example of this is on February 29, 2024, Anglo American partnered with EDF Renewables to develop a renewable energy ecosystem in South Africa, targeting at least 500 megawatts of solar and wind capacity by 2030 and in 2022, Anglo American plc unveiled a prototype of the world’s largest hydrogen-powered mine haul truck designed to operate in everyday mining conditions at its Mogalakwena PGMs mine in South Africa.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 150 |
| Forecast Period | 2023 – 2029 |
| Estimated Market Value (USD) in 2023 | $12.11 Billion |
| Forecasted Market Value (USD) by 2029 | $21.32 Billion |
| Compound Annual Growth Rate | 9.9% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Introduction
3. Global Market Analysis
3.1 Global Green Mining Market Analysis
3.2 Global Green Mining Market: Mining Type Analysis
3.3 Global Green Mining Market: Technology Analysis
4. Regional Market Analysis
4.1 Asia Pacific Green Mining Market
4.2 North America Green Mining Market
4.3 Europe Green Mining Market
4.4 Rest of the World Green Mining Market: An Analysis
5. Impact of COVID-19
6. Market Dynamics
6.1 Growth Drivers
6.1.1 Increased Demand for Critical Minerals
6.1.2 Rising Green Finance
6.1.3 Increasing Environmental Regulations
6.1.4 Growing Focus on Sustainability and ESG Goals
6.1.5 Rising Public and Corporate Awareness
6.1.6 Economic Benefits of Sustainable Practices
6.2 Challenges
6.2.1 High Initial Investment Costs
6.2.2 Measuring and Reporting Sustainability Impact
6.3 Market Trends
6.3.1 Increased Use of Automation and AI
6.3.2 Adoption of Renewable Energy in Mining Operations
6.3.3 Expansion of Circular Economy Practices
6.3.4 Focus on Carbon Neutrality
6.3.5 Digital Twin Technology in Mining
6.3.6 Advancements in Bio-Mining
7. Competitive Landscape
7.1 Global Green Mining Market Players: Competitive Landscape
7.2 Global Green Mining Market Players: Recent Developments
8. Company Profiles
- BHP Group
- Rio Tinto
- Vale
- Anglo American
- Glencore
- Tata Steel (Tata Steel Mining Limited)
- Freeport-McMoRan
- Newmont Corporation
- Dundee Precious Metals
- Sumitomo Metal Mining Co
- ArcelorMittal
For more information about this report visit https://www.researchandmarkets.com/r/9vvcr5
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