Mining

Global Mining Support Activities Market Forecast 2024-2033: Estimated Market Size And Growth Rate

December 27, 2023 by The Business Research Company

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The mining support activities market has exhibited robust growth, escalating from $283.99 billion in 2023 to a projected $304.81 billion in 2024, reflecting an impressive Compound Annual Growth Rate (CAGR) of 7.3%. This upward trajectory is rooted in the influence of global economic conditions, technological advancements, and geopolitical factors shaping the historic period.

Future Prospects: Anticipating Strong Expansion

The market is poised for continued growth, with projections signaling an increase to $407.48 billion by 2028, boasting a CAGR of 7.5%. The forecasted surge in the coming years is attributed to key drivers, including automation and digitalization, as well as global infrastructure development.

Igniting Growth: The Role of the Mining Industry

Mining Industry Dynamics:

The growth of the mining industry emerges as a catalyst propelling the mining support activities market forward.
Mining involves the extraction of valuable minerals, necessitating vital support services such as exploration, drilling, and mine site preparation.

Australian Mining Boom:

Notably, the Australian mining industry experienced significant growth, as reported by the Australian Bureau of Statistics in May 2023.
EBITDA surged by 32.7%, reaching $54.3 billion, building upon the previous year’s increase.

Market Players:

Key companies driving the market include Metallurgical Corporation of China Limited, Perenti Global Ltd., Weir Group PLC, Dyno Nobel, and others.

View More On The Mining Support Activities Market Report 2023 – https://www.thebusinessresearchcompany.com/report/mining-support-activities-global-market-report

Technological Integration: GIS Technology Reshaping the Landscape

GIS Technology Overview:

Geographic Information System (GIS) technology plays a pivotal role in mining support activities.
GIS systems capture, record, evaluate, and present spatial or geographic data critical for sustainability, geological composition, and compliance monitoring.

Efficient Exploration:

GIS integrates exploration datasets, enabling efficient discovery of new mineral deposits.
The technology provides 3D visualization tools by integrating data from various sources, enhancing decision-making.

Market Expansion:

The global GIS market is expected to reach $12.7 billion by 2024, indicating the increasing importance of GIS in the mining industry.

Market Dynamics: Segmentation and Regional Dominance

Segmentation Overview:

The market is segmented by type (Coal Mining Support Activities, Metal Mining Support Activities, Nonmetallic Minerals Mining Support Activities), service provider type (Independent Contractors, Companies), and application (Mining Companies, Construction Companies, Other Applications).

Asia-Pacific Dominance:

In 2023, Asia-Pacific emerged as the largest region in the mining support activities market, underlining its significance in the global landscape.
The region’s robust economic activity and mining industry dynamics contribute to its leadership position.

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The Mining Support Activities Global Market Report 2023 provides comprehensive insights on the mining support activities market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the mining support activities market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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