What is the present valuation and projected CAGR of the mining support activities market?
The mining support activities market size has grown strongly in recent years. It will grow from $310.56 billion in 2024 to $335.73 billion in 2025 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to global economic conditions, technological advancements, geopolitical factors.
The mining support activities market size is expected to see strong growth in the next few years. It will grow to $448.76 billion in 2029 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to automation and digitalization, global infrastructure development. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships.
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What key drivers have fueled the mining support activities market’s development over the years?
Government policies to support the mining industry is expected to drive the support activities for mining market. Governments are providing subsidies and encouraging foreign direct investments (FDI) in the mining industry. The amount of government support includes the support through governments’ public finance institutions such as bilateral development banks and export credit agencies investing in mining projects, fiscal support through budget allocations and tax exemptions, and investments through majority state-owned mining and utility companies. The Ministry of mines of the Government of India, enacted the Mines and Minerals Amendment, and published The Mineral Conservation and Development Rules to facilitate the growth of Mining industry in India and to regulate the industry. These government policies will continue to support the mining processes and thus are projected to increase the growth of support activities for mining market.
What is the segmentation for the mining support activities market?
The mining support activities market covered in this report is segmented –
1) By Type: Coal Mining Support Activities, Metal Mining Support Activities, Nonmetallic Minerals Mining Support Activities
2) By Service Provider Type: Independent Contractors, Companies
3) By Application: Mining Companies, Construction Companies, Other Applications
Subsegments:
1) By Coal Mining Support Activities: Underground Coal Mining Support, Open-Pit Coal Mining Support, Coal Exploration Services, Coal Mine Development Services, Coal Mine Operation and Maintenance Services
2) By Metal Mining Support Activities: Gold and Silver Mining Support, Copper Mining Support, Iron Ore Mining Support, Lead and Zinc Mining Support, Other Metal Mining Support Activities
3) By Nonmetallic Minerals Mining Support Activities: Stone Mining Support, Sand and Gravel Mining Support, Clay and Ceramic Material Mining Support, Lime Mining Support, Other Nonmetallic Mineral Mining Support Activities
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Who are the most influential companies in the mining support activities market?
Major companies operating in the mining support activities market include Metallurgical Corporation of China Limited, PT United Tractors Tbk, Perenti Global Ltd, NRW Holdings Limited, Weir Group plc, Major Drilling Group International Inc., Aveng Limited, Boart Longyear Ltd., Foraco International SA, Ausdrill Limited, CIMIC Group Limited, Downer Group, DRA Global Ltd., Dyno Nobel, Emeco Holdings Limited, FLSmidth & Co. A/S, Geotech Ltd., Golder Associates Inc., Hatch Ltd., Hexagon AB, Imdex Limited, Komatsu Ltd., Lycopodium Limited, Macmahon Holdings Limited, Mineral Resources Limited, Monadelphous Group Limited, Orica Limited, Outotec Oyj, Sandvik AB, Sedgman Limited, SRK Consulting (UK) Ltd., Thiess Pty Ltd, Worley Limited.
Which transformative trends will shape the mining support activities market landscape?
GIS technology is increasingly being used by mining companies to monitor critical factors such as sustainability, geological composition, and compliance. GIS systems capture, record, evaluate and present spatial or geographic data. GIS integrates exploration datasets such as geophysical images, geochemistry, geologic maps, radiometric surveys, boreholes, and mineral deposits leading to efficient discovery of new mineral deposits. This technology also provides 3D visualization tools as it integrates data from various data sources. They are also used in allied industries such as production, mine closure, and reclamation. For instance, according to GISGIG, the global GIS market is expected to reach $12.7 billion by 2024.
How do regional factors impact the mining support activities market, and which region is the largest contributor?
Asia-Pacific was the largest region in the mining support activities market in 2023. Western Europe was the second largest region in the mining support activities market. The regions covered in the mining support activities market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Does The Mining Support Activities Market Report 2025 Offer?
The mining support activities market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Mining support activities are direct services or service-related activities offered while performing different mining operations. They are used to enhance operational efficiency, ensure safety, and facilitate resource management. By offering expertise and resources, these activities help maximize mineral recovery while minimizing risks and environmental effects.
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