(EMAILWIRE.COM, February 29, 2024 ) The report “Green Mining Market by Type (Surface Mining, Underground Mining), Technology (Power Reduction, Fuel And Maintenance Reduction, Emission Reduction, Water Reduction) And Region (North America, Europe, APAC, MEA, South America) – Global Forecast to 2027″, size is expected to grow from USD 11.0 billion in 2022 to USD 17.6 billion by 2027 at a compound annual growth rate (CAGR) of 9.9% during the forecast period. The main factor driving the green mining market during the forecast period includes the government regulations, awareness towards fighting climate change and global warming. Also, increase in interests related to energy efficient options and related technology across the globe is providing momentum to the growth of the market.
Browse in-depth TOC on “Green Mining Market
169 – Market Data Tables
31 – Figures
198 – Pages
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Awareness in environment protection, fighting global warming and government regulations are a key to market growth
The traditional mining methods affect the environment by causing several damages. These include soil erosion, water pollution, air pollution hence causing global warming, and disruption of ecology. But the growing awareness to minimize global warming , climate change and government regulations for sustainable practices is paving the way for green mining. Thus, a significant shift in the market to green mining is being witnessed across the globe. The green mining involves implementation of necessary steps and technology which helps in reducing emissions, adopting cleaner fuels, focusing on renewable energy sources, implementing proper water and waste management techniques etc.
Emission reduction is expected to have highest CAGR in the forecast period
The green mining market is divided as per technology used into five major segments which are Emission reduction, power reduction, fuel and maintenance reduction, water reduction and others.
The control of greenhouse gases and increase in technological developments for carbon capture is a major factor for the expected highest growth of Emission reduction in the forecast period.
Surface Mining is expected to have highest CAGR in the forecast period
The green mining market is segmented as underground and surface mining by type. Surface mining is more prevalent, requires less manpower and is cost effective. companies are focusing on increasing sustainable practices for surface mining. Hence surface mining is expected to register high market growth in the forecast period.
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The Europe to be the biggest market during the projection period.
Due to the strict government regulations and rising interest in energy efficient methods, Europe has become the largest growing and profitable market for Green Mining market. The development of modern technology and implementation of sustainable practices especially in Germany, Russia, France, UK is a key driver for growth in this market.
Green Mining Market Key Players
The major key players in the green mining market are BHP Billiton (Australia), Anglo American Plc (UK), Rio Tinto (UK), VALE S.A. (Brazil), Glencore (Switzerland), Tata Steel (India), Dundee Precious metals (Canada), Jiangxi copper corporation limited (China), Libherr (Switzerland).
Anglo American is engaged in mining activities in the world. The companys portfolio includes mining, processing operations, and undeveloped resources. The company operates through seven business segments: De Beers, Copper, Platinum Group Metals, Iron Ore, Coal, Nickel & Manganese, and Corporate & Others. De Beers operates across the diamond value chain. In the Copper segment, the company owns two of the worlds largest copper mines. In the Platinum Group Metals segment, the company has stakes in two of the worlds largest platinum deposits in South Africa and Zimbabwe. In the Iron Ore segment, the company has operations in South Africa and Brazil. The Coal segment of the company has assets in Australia, South Africa, and Colombia.
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Rio Tinto is a leading mining company that develops some of the best quality mines and mining operations. The company has a strong presence in more than 35 countries across six continents. It operates through four business segments: Iron Ore, Aluminum, Copper & Diamonds, and Energy & Minerals. The company supplies its natural resources to various end-use industries, such as hospitals, the agriculture sector, cars, aircraft, and smartphones. The company is very active in terms of the sustainable development of its mines. It actively works towards its social commitments for emission reduction. It also promotes a healthy and safe working environment for its workforce. The company continuously strives to manage different aspects like achieving decarbonization and improving renewable power through electrification. It focuses on achieving net zero emissions by investing in better materials as well as by investing in R&D to decarbonize quicker and accelerate the development of new technologies.
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