Press release
Metal Mining Support Activities Market Size, Trends And Forecast Report 2024-2033
Metal Mining Support Activities Market
Metal Mining Support Activities Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $249.06 billion In 2028 At A CAGR Of 7.8% :
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 in the historic period can be attributed to commodity prices, technological advancements, global economic trends, geopolitical factors.
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 growth in the forecast period can be attributed to metal demand, environmental sustainability. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships, .
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Metal Mining Support Activities Market Major Segments
The metal mining support activities market covered in this report is segmented -
1) By Type: Metal Mining Drilling Services, Metal Mining Exploration Services, Metal Mining Draining Services, Other Metal Mining Support Activities
2) By Process: Underground, Opencast
3) By Service Provider Type: Independent Contractors, Companies
Key Driver - Increasing Demand For Metals Fueling Growth In The Metal Mining Support Activities Market
The increasing demand for metals is expected to propel the growth of the metal mining support activities market going forward. Metals refer to a solid material characterized by its high electrical conductivity, malleability, and luster, typically with a crystalline atomic structure. Metal mining activities support increased demand for metals by supplying essential raw materials for various industries, including construction, electronics, and manufacturing, driving economic growth and technological advancement. For instance, in 2022, according to the World Steel Association, a Belgium-based non-profit association, the demand for steel will increase by 0.4% to 1840.2 Mt. The demand for steel will increase by 2.2% in 2023 to 1,881.4 metric tons. Therefore, the increasing demand for metals will drive the metal mining support activities market.
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Prominent Trend - Enhancing Mining Support With 3D Modeling Technologies
Mining support companies are increasingly opting for 3D modeling technologies which reduce costs of discovery, improves prospecting, and facilitates focused exploration. A geological 3D modeling tool provides computerized illustrations of earth crust based on geological and geophysical observations made on earth surface and earth crust. It also provides detailed mapping and visualization of structural data of prospective mining zones and supports companies in resource estimation of mines, thus aiding the stakeholders to better interpret the data. This technology enhances discovery efficiency and improves exploration success rate. For instance, BRGM, a leading geological exploration based in France, carried out 3D geological modeling at Gardanne coal basin.
Metal Mining Support Activities Market Players
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.
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Largest And Fastest Growing Region In The Market
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 Table Of Content For The Market Report Include:
1. Executive Summary
2. Metal Mining Support Activities Market Report Structure
3. Metal Mining Support Activities Market Trends And Strategies
4. Metal Mining Support Activities Market - Macro Economic Scenario
5. Metal Mining Support Activities Market Size And Growth
…..
27. Metal Mining Support Activities Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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