According to the latest report by IMARC Group, titled “Green Mining Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global green mining market expanded at a CAGR of around 7% during 2015-2020. Green mining includes practices that assist in minimizing footprints on the environment caused by mining activities. These practices comprise the reduction of hazardous gases and chemicals released into the atmosphere and the utilization of selective mining approaches. As green mining helps lower operating costs and relies on technologies that aid in fuel, power, maintenance, and water management, it is gaining traction across the globe.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Green Mining Market Trends:
Rising environmental concerns among the masses about the adverse impact of conventional mining procedures represents one of the key factors impelling the green mining market growth. Apart from this, stringent regulations implemented by government bodies of various countries to reduce carbon footprints during mineral and metal extraction processes are providing a thrust to the market growth. Moreover, the increasing need for electrical alternatives over the fuel-based mining components is acting as another growth-inducing factor. The market is further propelled by the advent of hybrid diesel-electric loaders for maintaining ecological sustainability and controlling carbon emissions. Other factors, including the growing adoption of clean and renewable energy sources, such as solar and wind, for electrifying mining procedures, are contributing to the growth of the market. Looking forward, the market is expected to exhibit continuous growth during the forecast period (2021-2026).
- Based on the mining type, the market has been bifurcated into surface and underground mining.
- On the basis of the technology, the market has been segmented into power reduction (comminution efficiency and hydrometallurgical processes); fuel and maintenance reduction (equipment route optimization, fuel additives, natural gas conversion and training simulators); toxicity reduction (bioleaching and bioremediation); emission reduction (dust management, carbon sequestration and interior bleaching); water reduction (AMD/ARD remediation, wastewater processing, tailings remediation, and desalination); and others.
- Region-wise, the market has been classified into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa (Turkey, Saudi Arabia, and others).
- The competitive landscape of the market has been examined, with some of the key players being Anglo American plc, BHP Group Limited, Dundee Precious Metals Inc., Freeport-McMoRan Inc., Glencore plc, Saudi Arabian Mining Company, Rio Tinto Group, SANY Heavy Industry Co., Ltd., Shandong Gold Mining Co., Ltd., Tata Steel Limited and Vale S.A.
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