Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Surface Mining Market Overview
Surface mining refers to a category of mining in which mineral deposits are obtained by removing overlying soil and rock. Major type of surface mining methods includes strip mining, open-pit mining and mountaintop removal. Surface mining offers various advantages over underground mining such as low operational cost and less complication.
Market Size and Forecast
Global surface mining market is anticipated to flourish at a significant CAGR over the forecast period. Factors such as increasing consumption of coal and rising demand for metals and minerals are anticipated to fuel the growth of the surface mining market during the forecast period. Moreover, rising consumption of electricity across the globe is widening the demand for coal which further is anticipated to supplement the growth of the surface mining market.
North America captured the largest percentage of market share in overall surface mining market and is expected to continue its dominance over the forecast period. Presence of high number of coal, metallic and non-metallic reserves in the region is anticipated to drive the growth of the surface mining market in the North America region. According to U.S. Energy Information Administration, U.S. demonstrated coal reserves were estimated to be 476 billion short tons. Similarly, abundance of non-metallic mineral ores in Canada is believed to strengthen the growth of surface mining market in North America. According to Mining Association of Canada, in 2014, total mining establishments in Canada was held to be 1,192, out of which, 1,120 reserves were non-metallic mining establishments. U.S. and Canada are believed to be the major contributor to the growth of the surface mining market in the North America region.
Europe surface mining market is expected to grow at a substantial rate over the forecast period. Presence of large number of companies in the region is envisioned to strengthen the growth of the surface mining market. Asia Pacific is poised to showcase significant growth over the forecast period. Apart from this, rising number of reporting mines in major countries such as India and others bodes well for the growth of the surface mining market. According to Indian Ministry of Statistics & Programme Implementation, total number of reportable mines increased from 1,781 units in 2009-10 to 2,488 units 2013-14. Countries such as China, India and Australia are the major contributor to the growth of surface mining market.CLICK TO DOWNLOAD FREE SAMPLE
Based on mining method, global surface mining market is segmented into open-pit, strip mining, mountain removal mining and other, out of which, mountain removal mining segment is anticipated to grow at highest CAGR in overall surface mining market during the forecast period.
Market Segmentation
Our in-depth analysis has segmented global surface mining market into the following segments:
By Mineral
By Mining Method
By Region
Global surface mining market is further classified on the basis of region as follows:
Growth Drivers & Challenges
Increasing consumption of minerals and metals across the globe is anticipated to intensify the growth of the global surface mining market. In addition, growing demand for electricity is anticipated to positively drive the growth of the surface mining market. According to World Bank, global metal consumption witnessed a positive growth of about 1.8% in 2016. Additionally, growing consumption of metals across the globe is facilitating the expansion of global surface mining market.
Apart from this, abundance of mineral and metal ores in the world is expected to positively impact the growth of the surface mining market. Increasing consumption of electricity has increased the demand for coals in the world. This factor is anticipated to supplement the growth of the global surface mining market. Further, advancement in surface mining technologies bodes well for the growth of the surface mining market. In addition, the market is witnessing the launch of new and innovative surface mining solutions and technologies which further increases the operational efficiency. This factor is likely to spearhead current and future market growth prospects.
In contrast, stringent environmental legislations are expected to hamper the growth of surface mining market.
Key Players
Scope and Context
Overview of the Parent Market
Analyst View
Segmentation
The global surface mining market is segmented as follows:
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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