Metal Mining Support Activities Global Market Report 2024

The metal mining support activities market size has grown strongly in recent years. It will grow from $172.65 billion in 2023 to $184.72 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth observed during the historical period can be attributed to factors such as fluctuations in commodity prices, technological advancements, trends in the global economy, and geopolitical considerations.

The metal mining support activities market size is expected to see strong growth in the next few years. It will grow to $249.06 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The anticipated growth in the forecast period can be linked to factors such as the demand for metals and a heightened focus on environmental sustainability. Key trends expected in the forecast period include the emphasis on electrification and lightweighting, the utilization of advanced materials, the integration of additive manufacturing, the proliferation of digitalization and connectivity, and increased collaboration and partnerships within the industry.

The metal mining support activities market is poised for growth, driven by the rising demand for metals. Metals, characterized by their high electrical conductivity, malleability, and luster, serve as essential raw materials for diverse industries such as construction, electronics, and manufacturing. This demand for metals propels economic growth and technological advancement. For example, in 2022, the World Steel Association noted that steel demand is projected to increase by 0.4% to reach 1,840.2 million metric tons, and further by 2.2% in 2023 to 1,881.4 million metric tons. Hence, the escalating need for metals is set to stimulate the metal mining support activities market.

The primary categories within the domain of metal mining support activities include metal mining drilling services, metal mining exploration services, metal mining drainage services, and various other support activities associated with metal mining. Metal drilling services involve contract-based drilling operations conducted to serve the needs of diverse metal mining clients involved in a variety of commodities. These drilling processes can encompass both underground and opencast operations and are conducted by independent contractors as well as companies.

The metal mining support activities market research report is one of a series of new reports that provides metal mining support activities market statistics, including metal mining support activities industry global market size, regional shares, competitors with a metal mining support activities market share, detailed metal mining support activities market segments, market trends and opportunities, and any further data you may need to thrive in the metal mining support activities industry. This metal mining support activities market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Government initiatives are expected to be a driving force behind the growth of the metal mining support activities market. Governments undertake various actions, policies, and programs to address specific issues, boost economic growth, and achieve societal objectives. Metal mining support activities contribute to these initiatives by generating tax revenue, employment opportunities, and economic development in mining regions. This, in turn, aids in economic growth and the fulfillment of socio-economic goals. For instance, in January 2022, the International Energy Agency reported that the government launched the National Mining Policy 2050, involving stakeholders from private companies, academia, non-governmental organizations, and civil organizations. This policy aims to foster a safe, diverse, and inclusive mining industry that enhances the quality of life for workers, harmonizes with local territories, and adds value to the country. Therefore, increasing government initiatives are expected to propel the metal mining support activities market.

Innovations in the use of 3D modeling technologies are becoming increasingly prevalent in mining support companies. These technologies reduce discovery costs, enhance prospecting efforts, and facilitate targeted exploration. Geological 3D modeling tools provide computer-generated representations of the Earth's crust based on geological and geophysical observations, offering detailed maps and visualizations of structural data in potential mining areas. This assists companies in resource estimation and data interpretation, ultimately improving the efficiency of discovery and exploration success rates. For instance, BRGM, a prominent geological exploration organization in France, conducted 3D geological modeling in the Gardanne coal basin.

Major companies in the metal mining support activities market are prioritizing environmental sustainability to ensure long-term profitability and responsible resource extraction. Environmental sustainability entails balancing economic, social, and environmental factors to meet current needs without compromising the ability of future generations to meet their own. For example, the US Environmental Protection Agency reported that from 2020 to 2021, the quantity of Toxics Release Inventory (TRI) chemical waste managed by the metal mining sector in the United States increased by 67 million pounds. This underscores the industry's commitment to environmental responsibility and sustainability.

Major companies operating in the metal mining support activities market include Metallurgical Corporation of China Limited, Hochtief AG, NRW Holdings Limited, Weir Group PLC, Major Drilling Group International Inc., Aveng Limited, Boart Longyear Ltd., Foraco International SA, PT United Tractors Tbk, Perenti Global Ltd., Ausenco Limited, AusGroup Limited, Ausmex Mining Group Limited, AusTin Mining Limited, Auswide Mining Group Limited, Barminco Holdings Pty Limited, BGC Contracting Pty Ltd., Bis Industries Holdings Limited, Byrnecut Australia Pty Ltd., Cementation USA Inc., CIMIC Group Limited, Clough Limited, Coffey International Limited, Downer EDI Limited, DRA Global Limited, Dyno Nobel Inc., Energold Drilling Corp., FLSmidth & Co. A/S, Golder Associates Corporation, Hatch Ltd., Imdex Limited, KBR Inc., Lycopodium Limited, Macmahon Holdings Limited, Monadelphous Group Limited, Orica Limited.

Asia-Pacific was the largest region in the metal mining support activities market in 2023. South America was the second largest region in the metal mining support activities market. The regions covered in the metal mining support activities market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the metal mining support activities market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa

The metal mining support activities (except site preparation and related construction activities) market consists of revenue earned by entities by offering supporting activities for mining and quarrying of metallic minerals and for extraction of metal ores. Exploration for these minerals is included in this market and it includes traditional prospecting methods, such as taking core samples and making geological observations at prospective sites (but not geophysical surveying and mapping services). The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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