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The mining market has witnessed strong growth, surging from $2138.73 billion in 2023 to $2276.8 billion in 2024, exhibiting a compound annual growth rate (CAGR) of 6.5%. The remarkable expansion in the historic period can be attributed to technological advancements, increased investments in mining, favorable government policies, the utilization of renewable energy in mining, and the rapid fluctuations in commodity prices. Looking ahead, the market is poised for strong growth, projecting to reach $2825.81 billion in 2028, with a CAGR of 5.5%. The anticipated growth in the forecast period is driven by a rise in infrastructure development, increasing merger and acquisition activities, the implementation of autonomous equipment, and increasing construction activities. Major trends in the forecast period include a focus on the use of lidar (light detection and ranging), drone technology, product innovations, the launch of digital twin, the use of 3D mine visualizers, battery-driven mining machinery and equipment, technological advancements, automated mining machinery, and an increase in the use of telematics.

Governments worldwide are actively supporting the mining industry through subsidies and encouragement of foreign direct investments (FDI). In 2021, the Government of India’s Ministry of Mines enacted the Mines and Minerals Amendment Act 2021, along with publishing The Mineral Conservation and Development Rules, illustrating a commitment to fostering the growth of the mining sector. Government support encompasses investments from public finance institutions, tax exemptions, and budget allocations. These policies are expected to persist, providing sustained momentum for the mining market. The market size for mining is poised to witness growth in 2023, continuing its upward trajectory in 2024 and 2028.

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What Are The Key Trends That Influence Mining Market Share Analysis?
The adoption of renewable energy is helping mining companies reduce power costs and control emissions. Solar or wind projects near mine sites reduce connection costs to the power grid. For example, BHP and Rio Tinto have started using renewable energy sources. According to an EY report, Rio Tinto aims to generate 10% of its 20-25 MW power demand from renewable sources, reducing diesel use by approximately 4 million liters and CO2 emissions by 12,000 tons. In 2020, Rio Tinto approved a large-scale solar photovoltaic and battery storage system for its Koodaideri mine in Western Australia, which will become one of the largest photovoltaic installations at a mining site. A Fitch Solutions report notes that renewable energy in mining includes 57% solar thermal, 37% solar PV, and 4% wind energy.

Which Market Players Are Driving Growth In The Mining Market?
Major companies operating in the market are BHP Group Limited, Rio Tinto Group, Glencore plc, Vale S.A., China Shenhua Energy Company Limited, Anglo American Plc, China Coal Energy Company Limited, Jiangxi Copper Corporation Limited, Yankuang Energy Group Company Limited, Zijin Mining Group Company Limited, National Mineral Development Corporation, Vedanta, Hindustan Zinc, Hindalco Industries, Bharat Aluminium Company, Rajasthan State Mines And Minerals, Gujarat Mineral Development Corporation, Fortescue Metals, Newcrest Mining, South32, Evolution Mining, China Northern Rare Earth Group High-Tech Co Ltd, Shaanxi Coal And Chemical Industry Group Co Ltd, China Molybdenum Co Ltd, Shandong Gold Mining Co Ltd, Nyrstar Stolberg Gmbh, Voerde Aluminium Gmbh, Thyssen Schachtbau Holding Gmbh, Imerys Metalcasting Germany Gmbh, ENGINEERING DOBERSEK Gmbh, Barbara Rohstoffbetriebe Gmbh, Fastner & Co, Eramet, Manoir Industries, Terreal Marketing, Eurasia Mining, Petropavlovsk, Kaz Minerals, Hochschild Mining, Weglokok, Silesian-American Corporation, Kompania Weglowa, KGHM Polska Miedz, Jastrzebska Spólka Weglowa, Alrosa, Nordgold, Polymetal International, Zarechnaya, ARMZ Uranium Holding, Stoilensky GOK, Vorkutaugol, Yakutugol, Ural Mining And Metallurgical Company, Freeport Mcmoran, Newmont Mining, Peabody Energy, Southern Copper.Nutrien (NTR), Teck Resources, Barrick Gold (ABX), First Quantum Minerals (FM), Agnico Eagle Mines (AEM), Kinross Gold Corp, Lundin Mining (LUN), Yamana Gold, B2Gold, Hudbay Minerals, CSN Mineração, Veladero Mine, Gualcamayo Mine, Drummond Ltd, Carbomax De Colombia SAS, Shefa Gems, OREN MODEL GAN LTD, ARAVA Mines Ltd, Quarry Mining LLC, Centamin, AIMR Mining, African Rainbow Minerals, Metal Manufacturing Nigeria Limited, Sibanye-Stillwater, Silika Mining, Wesizwe Platinum

How Is The Global Mining Market Segmented?
The mining market covered in this report is segmented –
1) By Type: Mining Support Activities, General Minerals, Stones, Copper, Nickel, Lead, And Zinc, Metal Ore, Coal, Lignite And Anthracite
2) By Process: Underground Mining, Surface Mining
3) By Service Provider: Independent Contractors, Companies

Sub segmants: Coal Mining Support Activities, Metal Mining Support Activities, Non-Metallic Minerals Mining Support Activities, Potash, Salt, Magnesite, Sulfur, Kaolin, Asbestos, Feldspar, Boron, Gypsum, Talc, Graphite, Baryte, Bentonite, Diatomite, Lithium, Selenium, Perlite, Vermiculite, Arsenic, Diamond, Other General Minerals, Dimension Stones, Crushed Stones, Nickel, Lead And Zinc: Copper, Nickel, Lead And Zinc, Gold Ore, Iron Ore, Silver Ore, Uranium Ore, Vanadium Ore, All Other Metal Ores, Lignite And Anthracite: Coal, Lignite, Anthracite

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The Mining Global Market Report 2024 provides an overview of the miningmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The mining market forecast analyzes mining market size, mining market share, leading competitor and their market positions.

The Table Of Content For The Mining Market Include
1. Mining Market Executive Summary
2. Mining Market Segments
3. Mining Market Size And Template Market Growth Rate
4.  Key Mining Market Trends
5. Major Mining Market Drivers
……
25. Key Mergers And Acquisitions In The Mining Market
26. Top Mining Companies
27. Mining Market Opportunities And Strategies
28. Mining Market, Conclusions And Recommendations
29. Appendix

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