Surface Mining Market Size, Revenue Growth Trends, Company Strategy Analysis,
Market Summary The global Surface Mining Market is estimated to reach USD 32.92 Billion by 2026, according to a new report by
Reports and Data. This can be mainly associated with the consumption of metals and minerals across the globe in several end-user industries such as electronic and electrical, and machinery industries. Also, increasing demand for electricity is expected to drive the growth of the market positively. According to the World Bank, global metal consumption observed a positive growth of about 1.80% in 2016. Additionally, the increasing use of metals across the globe is promoting the expansion of global market. Apart from this, an abundance of mineral and metal ores in the world is expected to impact the growth of the market positively. Growing consumption of electricity has raised the demand for coals in the world. This factor is expected to augment the growth of the global surface mining market. Further, improvement in surface mining technologies is also responsible for the growth of the market. Also, the market is observing the launch of new and innovative surface mining solutions, which further enhances operational efficiency. This factor is expected to initiate current and future market growth prospects. Surface mining is a kind of mining in which mineral deposits are collected by removing overlying rock and soil. The initial type of surface mining methods includes open-pit mining, strip mining, and mountaintop removal. Surface mining offers several advantages over underground mining, such as less complexity and low operational cost. Receive a PDF sample of the global Hydrogen Peroxide market report @ https://www.reportsanddata.com/sample-enquiry-form/1445
Market Summary Further key findings from the report suggest
• Non-metallic ore accounts for a market share of 30.6% in 2018. • The rise in demand can be due to the growing use of lime, salts, and phosphate. • Metallic ore is valued at USD 12.87 Billion by 2026 and is estimated to reach USD 16.39 Billion by 2026 at a CAGR of 3.0% during the forecast period. • Strip mining method accounts for the largest share of 36.8% of the market in 2018. • Strip mining is implemented when the mineral deposits and the surface of the ground are adjacent to each other. It is likely due to increasing demand for metals such as zinc, gold, silver, and copper. • Among the End users, the metal segment accounts for the largest share of 39.3% in 2018. • Electric power industry end user is estimated to reach USD 7.41 Billion by 2016 at the highest CAGR of 3.2% during the forecast period. • With the growing industrialization and urbanization across the globe, the demand for power generation has also increased. • The rising need has led to an enhanced demand for coal, which plays an essential role in energy production. The leading market contenders listed in the report: Key participants include Rio Tinto, BHP Billiton, Barrick Gold Corporation, Glencor, China Shenhua Energy, Coal India Limited, Vale S.A., Freeport-McMoran, Goldcorp Inc., Anglo America
Market Summary Method Outlook (Volume, Kilo Tons; and Revenue, USD Billion; 2016-2026) Strip Mining, Open Pit Mining, Mountain Removal Mining, Others
Mineral Outlook (Volume, Kilo Tons; and Revenue, USD Billion; 2016-2026) Metallic Ore, Non-metallic Ore, Coal Mining End User Outlook (Volume, Kilo Tons; and Revenue, USD Billion; 2016-2026) Metal, Electric power industry, Manufacturing, Others Market Segmentation by region: North America (U.S., Canada) Latin America (Chile, Brazil, Argentina, Rest of LATAM) Europe (U.K., Italy, Germany, France, Rest of EU) Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC) Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA) To read more about the report, click here @ https://www.reportsanddata.com/report-detail/surface-mining-market
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