Global Green Mining Market, By Type (Surface, Underground), Technology (Power Reduction, Fuel and Maintenance Reduction, Toxicity Reduction, Emission Reduction, Water Reduction) – Industry Trends and Forecast to 2029
Market Analysis and Size
There has been growing need for stringent environmental regulations due to various growing public concerns about the mining industry. Furthermore, the growing pressure on mining industries to reduce their environmental impact and pay more frequently for arising local issues is expected to expand during the forecast period. As a result, this creates massive demand for the green mining, thus favoring the market expansion.
Global Green Mining Market was valued at USD 10.32 billion in 2021 and is expected to reach USD 20.11 billion by 2029, registering a CAGR of 8.70% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Market Definition
Green mining entails environmentally friendly practices undertaken primarily to reduce the negative environmental impacts of mining activities. These practices limit the use of hazardous chemicals and gases by employing selective mining techniques to reduce carbon footprints. Green mining employs a variety of technologies such as power reduction, fuel reduction and maintenance, toxicity reduction, and water management, to name a few. Furthermore, it employs advanced machinery that runs on clean fuel to ensure zero emissions.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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By Type (Surface, Underground), Technology (Power Reduction, Fuel and Maintenance Reduction, Toxicity Reduction, Emission Reduction, Water Reduction)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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Glencore (Switzerland), Rio Tinto (UK), BHP (Australia), Vale (Brazil), Tata Steel (India), Anglo American (UK), Caterpillar Inc. (US), Komatsu Ltd. (Japan), Sandvik AB (Sweden), Epiroc AB (Sweden), Doosan Corporation (South Korea), Ma’aden (Saudi Arabia), Liebherr (Switzerland), Jiangxi Copper Corporation (China), SANY Group (China), Dundee precious (Canada), and Freeport-McMoRan (U.S.)
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Market Opportunities
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Green Mining Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Regulations and Assessments Associated with Environment
Several government agencies across the globe are putting strict regulations in place to reduce carbon footprints during mineral and metal extraction processes. As a result, numerous environmental protection agencies have mandated ecological assessment procedures pertaining to the safe development and rehabilitation of mines, thereby enhancing the need for green mining techniques.
- Surging Consciousness Regarding the Benefits of Green Mining
The green mining technologies outperform conventional mining technologies in terms of greenhouse gas emissions, chemical efficacy, and energy efficiency. It also contributes to lower overall mining costs and performance by optimizing resource utilization. As a result, the increasing awareness about these advantages of green mining technologies is anticipated to further propel the growth rate of green mining market.
Furthermore, the rise in the price of gold, silver, and other precious metals has resulted in an increase in mineral exploration activities around the world, which is expected to drive the growth of the global green mining market. Furthermore, the growing use of clean and renewable energy sources, such as wind and solar, to electrify mining procedures is propelling the green mining market. Additionally, the growth in mounting demand for more productivity with less of expenditure is also projected to bolster the growth of the market.
Opportunities
- Developments. Shifts and Emergence of Technologies
Furthermore, rising shift from fuel-based mining components towards electrical alternatives coupled with the surging research and development to develop green mining technologies extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the emergence of hybrid diesel-electric loaders for controlling carbon emissions and maintaining ecological sustainability will further expand the future growth of the green mining market.
Restraints/Challenges
- Illegal Mining Activities
There have been reported various uncontrolled and illegal mining activities across the globe, especially in Africa. The increasing number of illegal mining activities around the world may stifle market growth over the forecast period.
- High Investments
The implementation of new machineries and technologies basically requires heavy investments, which hinders the market growth. As a result, the high capital investment requirement is estimated to pose as a challenge for the green mining market growth rate.
This green mining market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the green mining market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Green mining Market
The recent outbreak of coronavirus had a negative impact on the green mining market. Mining operations have been temporarily halted around the world as a result of the lockdowns. However, the increase in global demand for metals following the lockdowns is expected to result in a rapid recovery of the green mining market in the near future. Moreover, various disruptions in manufacturing as well as the supply-chain operations due to the various precautionary lockdowns imposed by governments to curb the spread of disease led to huge financial setback for the market. These determinants have largely weighed on the market's revenue trajectory.
However, the suspended and cancelled operations as well as the activities will continue as regulatory bodies have relaxed the enforced lockdowns.
Recent Development
- In November 2021,Evolution Mining, an Australian gold mining company, purchased Ernest Henry Mining from Glencore for A$1 billion, including A$800 million at the transaction's closing and a further A$200 million payable 12 months later. With this acquisition, Evolution gains full ownership and operational control of the copper-gold mine, as well as a copper concentrate offtake agreement and a separate ore tolling agreement with Glencore. Glencore plc is a multinational commodity trading and mining company based in the United Kingdom and Switzerland.
Global Green Mining Market Scope
The green mining market is segmented on the basis of type and technology. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Surface
- Underground
Technology
- Power Reduction
- Comminution Efficiency
- Hydrometallurgical Processes
- Fuel and Maintenance Reduction
- Equipment route optimization
- Fuel additives
- Natural gas conversion
- Training Simulators
- Toxicity Reduction
- Bioleaching
- Bioremediation
- Emission Reduction
- Dust management
- Carbon Sequestration
- Interior Bleaching
- Water Reduction
- AMD/ARD Remediation
- Wastewater processing
- Tailings Remediation
- Desalination
Green Mining Market Regional Analysis/Insights
The green mining market is analyzed and market size insights and trends are provided by country, type and technology as referenced above.
The countries covered in the green mining market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the green mining market because of the rapid industrial growth, increase in demand for minerals and rise in environmental concerns and high demand for industrial minerals within the region.
Europe on the other hand, is estimated to show lucrative growth during the forecast period of 2022 of 2029 due to the strict government regulations coupled with the rising awareness among the people regarding environmental concerns within the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Green Mining Market Share Analysis
The green mining market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to green mining market.
Some of the major players operating in the green mining market are
- Glencore (Switzerland)
- Rio Tinto (UK), BHP (Australia)
- Vale (Brazil)
- Tata Steel (India)
- Anglo American (UK)
- Caterpillar Inc. (U.S.)
- Komatsu Ltd. (Japan)
- Sandvik AB (Sweden)
- Epiroc AB (Sweden)
- Doosan Corporation (South Korea)
- Ma’aden (Saudi Arabia)
- Liebherr (Switzerland)
- Jiangxi Copper Corporation (China)
- SANY Group (China)
- Dundee precious (Canada)
- Freeport-McMoRan (U.S.)
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