Surface mining is a type of mining process in which the overlying soil and rocks over a mineral deposit are removed and the minerals beneath them are recovered. The surface mining process is considered to be better than other conventional techniques in terms of safety, rate of recovery, and great control. Surface mining process also helps in the reduction of the overall cost of the process by assuring maximum utilization of the mines. As a result, this technique is gaining popularity for the extraction of minerals around the world.
COVID-19 scenario analysis:
The outbreak of the COVID-19 pandemic has severely affected the global surface mining market to a great extent.
- Almost all the mining industries around the globe are majorly suffering from the significant lack of workforce caused due to the stringent regulations imposed by the governments on transport and social distancing. As a result, the rate of production after mines has decreased drastically and this has immensely affected the growth of the surface mining market.
- On the other hand, a major fraction of surface mining is related to the extraction of coal. But amidst the pandemic, the demand for coal and other fuels has declined significantly and this has direct effects on the surface mining industries that were involved in the mining of coal.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
With the rapid modernization across the globe there is a constant increase in the demand for metals and minerals in different industries. This played a major role in the growth of the surface mining market over the period of time. Requirement of metals such as nickel, chromium, gold, iron, and others has increased exponentially over the last few decades. Apart from just mining mineral and metals, surface mining also has great significance in the extraction of coal. Rapid urbanization and ever increasing need for fuel also adds to the growing applications of surface mining around the world. However, compared to the conventional mining techniques, surface mining has more prominent impacts on the environment, which limits the market growth.
The market in the North America region holds a significant share of the global surface mining market due to the rapid advancements in mining technologies in the developed regions such as the U.S. The market in the Asia-Pacific region is also likely to show potential growth with the increase in demand for minerals and metals in the emerging economies of the region.
Key benefits of the report:
- This study presents the analytical depiction of the global surface mining industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global surface mining market share.
- The current market is quantitatively analyzed to highlight the global surface mining market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global surface mining market analysis based on competitive intensity and how the competition will take shape in coming years.
Surface Mining Market Report Highlights
| Aspects | Details |
 By Type |
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 By Application |
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 By Region |
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 Key Market Players | Sandvik AB, Barrick Gold Corporation., Hitachi Construction Machinery Co., Ltd., BHP Billiton, Rio TTint, Komatsu Ltd, Freeport-McMoRan Inc, Caterpillar Inc, Atlas Copco AB, Vale S.A |
 | Anglo American Plc, BAI Group LLC, MacMahon, LAXYO, Mining Plus, Others |
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