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.
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.
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%.
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.
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.
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.
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.
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.
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%.
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.
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.
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.
Table of Contents
1 Executive Summary
6 Market Characteristics
8 Mining Market, Supply Chain Analysis
9 Customer Information
10 Major Market Trends
11 Mining Market - Macro Economic Scenario
12 Global Market Size and Growth
13 Global Mining Market Segmentation
14 Mining Market, Regional and Country Analysis
15 Asia-Pacific Market
16 Western Europe Market
17 Eastern Europe Market
18 North America Market
19 South America Market
20 Brazil Market
21 Middle East Market
22 Africa Market
23 Global Competitive Landscape and Company Profiles
24 Other Major and Innovative Companies
26 Company Profiles
29 Key Mergers and Acquisitions
30 Opportunities and Strategies
31 Mining Market, Conclusions and Recommendations
32 Appendix
Executive Summary
Mining Global Market Opportunities and Strategies to 2033 provides the strategists; marketers and senior management with the critical information they need to assess the global mining market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 50 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for mining? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The mining market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider mining market; and compares it with other markets.
The report covers the following chapters:
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by process and by service provider.
- Product Analysis the product analysis section of the report describes the leading products in the mining market, along with key features and differentiators for those products.
- Supply Chain- the supply chain section of the report defines and explains the key players in the mining industry supply chain.
- Customer Information the chapter covers recent customer trends/preferences in the global mining market.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- the report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the mining market.
- Global Market Size and Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional and Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by type, by process and by service provider in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities and Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions and Recommendations- This section includes recommendations for mining providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) by Type: Mining Support Activities; General Minerals; Stones; Copper; Nickel; Lead and Zinc; Metal Ore and Coal; Lignite and Anthracite2) by Process: Underground Mining; Surface Mining
3) by Service Provider: Independent Contractors; Companies
Key Companies Mentioned: BHP Group Limited (BHP Billiton); Glencore plc; Rio Tinto Group; Vale S.a. (Companhia Vale do Rio Doce); Anglo American plc
Countries: China; Australia; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam, Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Brazil; Mexico; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Chile; Argentina; Colombia; Peru; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; mining indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- BHP Group Limited (BHP Billiton)
- Glencore plc
- Rio Tinto Group
- Vale S.A. (Companhia Vale do Rio Doce)
- Anglo American plc
- China Shenhua Energy Company Limited
- Jiangxi Copper Corporation Limited
- China Coal Energy Company Limited
- Yankuang Group Company Limited
- Hindustan Zinc Limited
- Deepak Fertilisers and Petrochemicals Corporation
- Khanij Bidesh India Ltd (KABIL)
- Rohit Ferro-Tech (RFT)
- Tata Steel Mining
- Adani Enterprises Ltd
- Alluvial Mineral Resources (AMRPL)
- Vedanta Resources Limited
- Sinopec Great Wall Energy and Chemical Company
- Zijin Mining
- China Minmetals Rare Earth Co
- JSW Steel Limited
- MACH Metals
- Rex Minerals Ltd
- National Mineral Development Corporation
- Vedanta
- Hindustan Zinc
- Hindustan Copper
- Hindalco Industries
- Bharat Aluminium Company
- Rajasthan State Mines and Minerals
- Gujarat Mineral Development Corporation
- BHP Group
- Rio Tinto
- Fortescue Metals
- Newcrest Mining
- South32
- Evolution Mining
- China Coal Energy Co Ltd
- Zijin Mining Group Co Ltd
- China Northern Rare Earth Group High-Tech Co Ltd
- Jiangxi Copper Co Ltd
- Shaanxi Coal and Chemical Industry Group Co Ltd
- China Molybdenum Co Ltd
- Shandong Gold Mining Co Ltd
- BHP
- Anglo American
- Solvay
- ACB+
- Glencore International AG
- ArcelorMittal S.A.
- ThyssenKrupp AG
- Anglo American plc
- Boliden AB
- Antofagasta plc
- John Lawrie Metals Ltd
- STI Group
- SWR Group
- Timken
- Schaeffler
- NLMK Group
- Salzgitter AG
- Danieli Group
- Tenaris S.A.
- Nyrstar Stolberg GmbH
- Thyssen & Co
- Voerde Aluminium GmbH
- Thyssen Schachtbau Holding GmbH
- Imerys Metalcasting Germany GmbH
- ENGINEERING DOBERSEK GmbH
- Barbara Rohstoffbetriebe GmbH
- Fastner & Co
- Eramet
- Manoir Industries
- Terreal Marketing Eurasia Mining
- Petropavlovsk
- Kaz Minerals
- Hochschild Mining
- Liberty Ostrava a.s.
- RusAL
- Trinec Iron Works Inc
- Kovona System, Inc.
- Huta Stalowa Wola S.A.
- KGHM Polska Miedź S.A.
- TMK Group
- Severstal
- Metalloinvest Management Company LLC
- Canada Nickel Company Inc.
- Orla Mining Ltd
- Montage Gold Corp
- Ivanhoe Mines
- Fortune Minerals Limited
- CertainTeed Canada, Inc.
- The Bailey Group of Companies
- AstroForge
- Integrity Fab & Machine, Inc.
- BICO Steel
- Rock Solutions LLC
- Tech Soft 3D, Inc
- Ecolab Inc
- Moleaer Inc.
- The Chemours Company
- Lomiko Metals Inc
- Sibanye -Stillwater
- Mineração Vale Verde
- Atlantic Nickel
- Eramet
- Shefa Gems
- OREN MODEL GAN LTD
- MA'ADEN
- ARAVA Mines Ltd
- Tahoun Group
- Chemie-Tech
- Çalık Holding
- Saudi Arabian Mining Company
- Qatar Mining Company (QMC)
- Netafim
- Betachem (Pty) Ltd
- Centamin
- Orosur Mining Inc
- Sasol South Africa (Pty) Ltd
- AIMR Mining
- Silika Mining
- Sibanye-Stillwater (South Africa)
- Wesizwe Platinum
- Mopani Copper Mines Plc
- African Rainbow Minerals
- Metal Manufacturing Nigeria Limited
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 415 |
| Published | November 2024 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value ( USD | $ 2.1 Trillion |
| Forecasted Market Value ( USD | $ 3.7 Trillion |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 127 |
