Dublin, May 17, 2024 (GLOBE NEWSWIRE) -- The "Metal Mining Support Activities Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
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 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%.
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 growth observed during the historical period can be attributed to factors such as fluctuations in commodity prices, technological advancements, trends in the global economy, and geopolitical considerations. The anticipated growth in the forecast period can be linked to factors such as the demand for metals and a heightened focus on environmental sustainability. Key trends expected in the forecast period include the emphasis on electrification and lightweighting, the utilization of advanced materials, the integration of additive manufacturing, the proliferation of digitalization and connectivity, and increased collaboration and partnerships within the industry.
The metal mining support activities market is poised for growth, driven by the rising demand for metals. Metals, characterized by their high electrical conductivity, malleability, and luster, serve as essential raw materials for diverse industries such as construction, electronics, and manufacturing. This demand for metals propels economic growth and technological advancement. Hence, the escalating need for metals is set to stimulate the metal mining support activities market.
The primary categories within the domain of metal mining support activities include metal mining drilling services, metal mining exploration services, metal mining drainage services, and various other support activities associated with metal mining. Metal drilling services involve contract-based drilling operations conducted to serve the needs of diverse metal mining clients involved in a variety of commodities. These drilling processes can encompass both underground and opencast operations and are conducted by independent contractors as well as companies.
Government initiatives are expected to be a driving force behind the growth of the metal mining support activities market. Governments undertake various actions, policies, and programs to address specific issues, boost economic growth, and achieve societal objectives. Metal mining support activities contribute to these initiatives by generating tax revenue, employment opportunities, and economic development in mining regions. This, in turn, aids in economic growth and the fulfillment of socio-economic goals. Increasing government initiatives are expected to propel the metal mining support activities market.
Innovations in the use of 3D modeling technologies are becoming increasingly prevalent in mining support companies. These technologies reduce discovery costs, enhance prospecting efforts, and facilitate targeted exploration. Geological 3D modeling tools provide computer-generated representations of the Earth's crust based on geological and geophysical observations, offering detailed maps and visualizations of structural data in potential mining areas. This assists companies in resource estimation and data interpretation, ultimately improving the efficiency of discovery and exploration success rates. For instance, BRGM, a prominent geological exploration organization in France, conducted 3D geological modeling in the Gardanne coal basin.
Major companies in the metal mining support activities market are prioritizing environmental sustainability to ensure long-term profitability and responsible resource extraction. Environmental sustainability entails balancing economic, social, and environmental factors to meet current needs without compromising the ability of future generations to meet their own.
Key Topics Covered:
1. Executive Summary
2. Metal Mining Support Activities Market Characteristics
3. Metal Mining Support Activities Product/Service Analysis -Product/Service Examples
3.1. Metal Mining Support Activities Supply Chain Analysis
3.1.1. Metal Mining Support Activities Resources
3.1.2. Metal Mining Support Activities Manufacturers
3.1.3. Metal Mining Support Activities Distributors and Retailers
3.1.4. Metal Mining Support Activities End Users
3.2. Metal Mining Support Activities Customer Information
4. Metal Mining Support Activities Market Trends And Strategies
5. Metal Mining Support Activities Market - Macro Economic Scenario
5.1. Impact Of High Inflation On The Market
5.2. Ukraine-Russia War Impact On The Market
5.3. COVID-19 Impact On The Market
6. Global Metal Mining Support Activities Market Size and Growth
6.1. Global Metal Mining Support Activities Market Drivers and Restraints
6.1.1. Drivers Of The Market
6.1.2. Restraints Of The Market
6.2. Global Metal Mining Support Activities Historic Market Size and Growth, 2018 2023, Value ($ Billion)
6.3. Global Metal Mining Support Activities Forecast Market Size and Growth, 2023 2028, 2033F, Value ($ Billion)
7. Metal Mining Support Activities Market Segmentation
7.1. Global Metal Mining Support Activities Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Metal Mining Drilling Services
- Metal Mining Exploration Services
- Metal Mining Draining Services
- Other Metal Mining Support Activities
7.2. Global Metal Mining Support Activities Market, Segmentation By Process, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Underground
- Opencast
7.3. Global Metal Mining Support Activities Market, Segmentation By Service Provider Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Independent Contractors
- Companies
8. Metal Mining Support Activities Market Regional And Country Analysis
8.1. Global Metal Mining Support Activities Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.2. Global Metal Mining Support Activities Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
A selection of companies mentioned in this report includes, but is not limited to:
- 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
For more information about this report visit https://www.researchandmarkets.com/r/kshsuq
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