Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Underground Mining Market size was over USD 25.46 billion in 2024 and is anticipated to cross USD 40.83 billion by 2037, growing at more than 3.7% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of underground mining is estimated at USD 26.99 billion.
The demand for underground mining is attributed to the growing requirement for various minerals such as iron, gold, copper, coal, lead, aluminum, silver, and so on has increased significantly as a result of stable economic development in both developed and developing areas.
Moreover, the rapid shift to renewables such as solar panels, electric vehicle batteries, and wind turbines is driving the demand for underground mining across the globe. This shift has intensified the mining procedure for some minerals like cobalt, lithium, and other rare earth elements.
