Global Iron Ore Market Size, Forecasts, And Opportunities – Includes Iron Ore Market Analysis
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The global iron ore market is expected to grow from $166.94 billion in 2021 to $188.69 billion in 2022 at a compound annual growth rate (CAGR) of 13.0%. The global iron ore mining market size is expected to grow to $261.71 billion in 2026 at a compound annual growth rate (CAGR) of 8.5%.
The growth in the iron ore mining market is due to increasing construction projects in rapidly developing countries such as China and India, owing to the rising population and infrastructure development.
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The iron mining market consists of sales of iron ores and concentrates by entities (organizations, sole traders, and partnerships) that mine iron ore. The industry includes establishments that develop mine sites, mine and beneficiate iron ore and produce sinter iron ore, except for iron ore produced in iron and steel mills. It also includes producing other iron ore agglomerates.
Global Iron Ore Market Segments Include:
By Type: Construction, Manufacturing, and Others
By Mining Type: Underground Mining, Surface Mining
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific is the largest region in the global iron ore market in 2021.
The use of autonomous hauling systems (AHS) trucks in the iron ore mining industry is significantly enhancing production efficiency and reducing turnaround time. AHS controls and tracks mining vehicle movements, coordinates, and autonomously drives off-highway haul trucks operating in a mine, as the major trends witnessed in the global iron ore mining market.
TBRC’s Iron Ore Market Report Covers:
Major Market Players: Arcelor Mittal, Nippon Steel & Sumitomo Metal Corporation (NSSMC), POSCO, Tata Steel, and VALE.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Iron Ore Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides iron ore market overviews, analyzes and forecasts market size, share, iron ore market players, iron ore market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s iron ore market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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