Surface Mining Global Market Report 2022

Major players in the market are Perenti Global Limited, American Mine Services, Macmahon Holdings, BCM International Group, Laxyo Group, Mining Plus Pty Ltd, Technica Mining, Banks Group, Day Group, Goldcorp, Rio Tinto Group, BHP Billiton, Komatsu Ltd, Caterpillar Inc., Sandvik AB, Atlas Copco AB, Hitachi Construction Machinery Co. Ltd, and Coal India Limited.

The global surface mining market is expected to grow from $24.45 billion in 2021 to $26.43 billion in 2022 at a compound annual growth rate (CAGR) of 8.1%. The surface mining market is expected to grow to $32.08 billion in 2026 at a CAGR of 5%.

The surface mining market consists of sales of surface mining services by entities (organizations, sole traders, and partnerships) that are used to retrieve sand, stones, gravel, coal, iron, and other metals.Surface mining refers to the method of extracting minerals near the surface of the earth.

It is the removal of the terrain surface to access minerals underneath. The most common surface mining methods are open-pit mining, drift mining, slope mining, contour mining, and auger mining.

The main types of surface mining are strip mining, open pit mining, and terrace mining.Strip-surface mining refers to a mineral-extraction process in which a layer or seam of undesired material is being removed from the surface of an area to allow efficient access to the desired material existing underneath the layer being stripped.

The different minerals include metallic ore, non-metallic ore, coal mining, and others, and involve several end users such as metals, electric power industries, manufacturing, and others.

North America was the largest region in the surface mining market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in the surface mining report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The surface mining market research report is one of a series of new reports that provides surface mining market statistics, including surface mining industry global market size, regional shares, competitors with a surface mining market share, detailed surface mining market segments, market trends and opportunities, and any further data you may need to thrive in the surface mining industry. This surface mining market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The rise in construction projects is significantly contributing to the growth of the surface mining market going forward.Construction is the process of building, altering, repairing, remodeling, improving, or demolishing any structure.

Surface mining is helpful for construction sites for erecting structures and infrastructure components required for modern living, such as sand, gravel, gypsum, and limestone. For instance, according to Invest India, an India-based investment promotion and facilitation agency, the construction industry in India is expected to reach $1.4 trillion by 2025. In addition, the real estate industry in India is expected to reach $1 trillion by 2030 and will contribute 13% to India’s GDP. Therefore, the rise in construction projects drives the surface mining market going forward.

Strategic partnerships have emerged as a key trend gaining popularity in the surface mining market.Major companies operating in the surface mining market are looking for partnerships to strengthen their position in the market.

For instance, in June 2021, Parenti Global, an Australia-based surface mining company, partnered with Sandfire Resources, an Australia-based mining and exploration company.Through this partnership, Parenti Global would expand its surface mining portfolio in Africa.

Furthermore, in May 2019, Goldcorp, a Canada-based gold surface mining company, partnered with IBM Canada, a Canada-based IT services and consulting company. Through this partnership, both companies developed the IBM Exploration platform to accurately find gold and improve mineral exploration.

In November 2021, Alta Equipment Group, a US-based leading provider of industrial forklifts, heavy construction equipment, and warehouse solutions in the Midwest, acquired Midwest Mine Services for an undisclosed amount.With this acquisition, Alta Group expands its portfolio in the construction business and also increases the demand for high-end engineering and design services.

Midwest Mine Services is a US-based surface mining equipment company.

The countries covered in the surface mining market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.