Report ID: SQMIG15J2076
Surface Mining Market Size, Share, Growth Analysis, By Type(Strip Mining, Terrace Mining, Open-Pit Mining, and Others), By Application(Coal Mining, Metal Mining, Mineral Mining, and Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15J2076 |
Region:
Global |
Published Date: April, 2024
Pages:
183
|
Tables:
65 |
Figures:
72
Surface Mining Market Insights
Global Surface Mining Market size was valued at USD 27 billion in 2022 and is poised to grow from USD 28.89 billion in 2023 to USD 49.64 billion by 2031, growing at a CAGR of 7.1% in the forecast period (2024-2031).
Surface mining refers to a process in which overlying soil and rock are removed to uncover minerals and metals. This type of mining includes strip mining and open-pit mining, which are largely used worldwide. Growing demand for minerals and metals from different industry verticals is projected to bolster the demand for surface mining across the forecast period and beyond. Adoption of surface mining can also be attributed to its low costs. Rapidly expanding semiconductor and consumer electronics industries are also boosting the demand for novel minerals and metals going forward. Growing availability of advanced mining equipment and machinery is also estimated to benefit market development over the coming years. However, environmental impact of mining and logistical challenges is estimated to slow down surface mining demand outlook in the future.
Surface Mining Market Report Snapshots
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