Deep Sea Mining Equipment & Technologies Market

The deep sea mining equipment & technologies market size was valued at $811.9 million in 2020, and is expected to reach $72,814.2 million by 2030, registering a CAGR of 61.4% from 2021 to 2030. Deep sea mining is the process of mining of minerals and metals from sea floor at a depth of more than 500 meters. The mining process needs equipment such as crawler, riser systems and others, to carry out this operation. The revenue generated by sales of the equipment minerals such as nickel, cobalt, manganese, zinc and others, are deposited under the sea floors. Extraction of these metals is known as deep sea mining. 

The market was hampered owing to restrictions on mining activities. The supply chain for the exploration equipment was disrupted, however COVID-19 could also make deep sea mining more appealing to some pacific islands as tourism revenue has decreased.

The major driving factor of the deep sea mining equipment & technologies market is discovery of metals & mineral deposit under the seabed. With the growth of electronic components need of metals such as copper, nickel, aluminum, manganese, zinc, lithium and cobalt has increased and due to depleting terrestrial deposits of these metals, new sources are being searched. In addition, increase in deep sea exploration activities to collect data and information to address both current and emerging science and management needs is driving the deep sea mining equipment & technologies market share. However, the process is considerably new and a lot of R&D is yet to take place. In addition, the current equipment can harm the marine life, which will be a big loss of the environment. Thus lack of proper equipment restraints the growth of the deep sea mining equipment & technologies. Furthermore, during the COVID-19 outbreak, construction, manufacturing, and oil & gas industries were majorly affected. Mining activities were also stopped or restricted to a huge extent. Manufacturing and transportation activities along with their supply chains were hampered on a global level. This directly hampered the deep sea mining equipment & technologies market growth. However, the market gained stability in third and fourth quarter of 2020. Moreover, gradually all industries are resuming their regular manufacturing and services. This is further expected to lead to re-initiation of deep sea mining equipment & technologies companies at their full-scale capacities, which is expected to help the market to recover by mid of 2021.

On the contrary, introduction of Internet of Underwater Things (IoUT) can extensively find application in deep sea mining equipment & technologies to control or monitor a large number of interconnected smart equipment such as physical devices and sensors from remote locations and will be a major growth opportunity for the deep sea mining equipment & technologies during the forecast period.

The deep sea mining equipment & technologies industry is segmented on the basis of type, service, equipment type and region. On the basis of type, the market is divided into polymetallic nodules, polymetallic sulphides and cobalt-rich crusts. Depending on service, it is classified into exploration and extraction. On the basis of equipment type, the market is divided into seabed mining crawler, riser system and others. By region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Russia and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

By type, in 2020, the polymetallic nodules segment dominated the deep sea mining equipment & technologies market, in terms of revenue, and cobalt-rich crusts segment is expected to witness growth at the highest CAGR during the forecast period. On the basis of service, the exploration segment led the market in 2020, in terms of revenue, and extraction segment is anticipated to register highest CAGR during the forecast period. On the basis of equipment type, the seabed mining crawler segment led the market in 2020, in terms of revenue, and riser system segment is anticipated to register highest CAGR during the forecast period. By region, Asia-Pacific led the market in 2020, in terms of revenue, and North America is anticipated to register the highest CAGR during the forecast period.

Competition analysis

The major players profiled in the deep sea mining equipment & technologies market include 2H Offshore (Acteon Group Ltd.), Bauer AG, Cellula Robotics Ltd., Deep Reach Technology, Inc., Kongsberg Maritime, Odyssey Marine Exploration, Inc., Robert Bosch GmbH, Saab Seaeye Ltd (Saab AB), SEAS Offshore Pty Ltd. and Soil Machine Dynamics Ltd. Major companies in the market have adopted strategies such as product launch, product development, collaboration and acquisition, to offer better products and services to customers in the deep sea mining equipment & technologies market. 

Key Benefits For Stakeholders

• The report provides an extensive analysis of the current and emerging deep sea mining equipment & technologies market trends and dynamics. 
• In-depth deep sea mining equipment & technologies market analysis is conducted by estimations for the key segments between 2021 and 2030. 
• Extensive analysis of the market is conducted by following key product positioning and monitoring of top competitors within the market framework.
• A comprehensive analysis of four major regions is provided to determine the prevailing deep sea mining equipment & technologies market opportunities.
• The market forecast analysis from 2021 to 2030 is included in the report.
• The key market players operating in the market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the market industry.

Key Market Segments

By Type

• Polymetallic Nodules
• Polymetallic Sulphides
• Cobalt-Rich Crusts

By Service 

• Exploration
• Extraction

By Equipment Type

• Seabed Mining Crawler
• Riser System
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• LAMEA
  • Latin America
  • Middle East
  • Africa

 Deep Sea Mining Equipment & Technologies Market Report Highlights