Growth of Surface Mining Market in Future due to Rising Demand for Metals and Minerals
The global surface mining market is segmented into application such as coal mining, metal ore and non-metallic ore. Among these segments, coal surface mining segment is expected to grow at highest CAGR in global surface mining market during the forecast period. Rising demand coupled with less supply of electricity in several nations such as Brazil, India and others are fuelling the demand for coal. This factor is anticipated to exponentially increase the market size of surface mining for coal market during the forecast period. Moreover, presence of abundant coal reserves across the globe signals promising growth for coal surface mining market.
Global surface mining market is expected to flourish at a significant CAGR over the forecast period. Factors such as increasing demand for minerals and metals such as gold, copper and others is expected to fuel the growth of the surface mining market. Additionally, advancement in mining solutions and technologies and development of new surface mining equipment is believed to propel the growth of the surface mining market.
North America captured the highest percentage of market share in overall surface mining market in 2016. Further, North America is expected to continue its dominance over the forecast period. This can be attributed to the high number of coal and mineral reserves in the region. Asia Pacific is anticipated to witness lucrative growth during the forecast period. Countries such as China, India and Australia are believed to be the major contributor to surface mining market during the forecast period. Europe market is projected to showcase substantial growth during the forecast period.
Increasing Demand for Minerals and Metals
Growing demand for coal from the energy sector is anticipated to grow the market of global surface mining. Similarly, increasing sale and demand for metals such as gold, silver and others are expected to propel the demand for surface mining.
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Abundant Mine Establishments Bodes Well for Growth
Presence of mines in abundance across the world is expected to positively impact the growth of the surface mining market. Further, advances in mining technologies and development of innovative equipment are anticipated to escalate the growth of the surface mining market.
Although, stringent government regulations is the major stumbling block which is expected to hamper the growth of the global surface mining market.
The report titled “Surface Mining Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the global surface mining market in terms of market segmentation by mineral, by mining method and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global surface mining market which includes company profiling of BHP Billiton, Rio Tinto, Glencore , China Shenhua Energy, Vale S.A., Coal India Limited, Freeport-McMoran, Barrick Gold Corporation, Goldcorp Inc. and Anglo American. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Global surface mining market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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