How Is The Metal Mining Support Activities Market Segmented?
The metal mining support activities market covered in this report is segmented –
1) By Type: Metal Mining Drilling Services, Metal Mining Exploration Services, Metal Mining Draining Services, Other Metal Mining Support Activities
2) By Process: Underground, Opencast
3) By Service Provider Type: Independent Contractors, Companies
Subsegments:
1) By Metal Mining Drilling Services: Surface Drilling Services, Underground Drilling Services, Exploration Drilling Services
2) By Metal Mining Exploration Services: Geophysical Survey Services, Geological Survey Services, Sampling Services
3) By Metal Mining Draining Services: Dewatering Services, Pumping Services, Water Treatment Services
4) By Other Metal Mining Support Activities: Material Handling Services, Blasting Services, Environmental And Waste Management Services
What Is Driving The Metal Mining Support Activities Market? Increasing Demand For Metals Fueling Growth In The Metal Mining Support Activities Market
The increasing demand for metals is expected to propel the growth of the metal mining support activities market going forward. Metals refer to a solid material characterized by its high electrical conductivity, malleability, and luster, typically with a crystalline atomic structure. Metal mining activities support increased demand for metals by supplying essential raw materials for various industries, including construction, electronics, and manufacturing, driving economic growth and technological advancement. For instance, in 2022, according to the World Steel Association, a Belgium-based non-profit association, the demand for steel will increase by 0.4% to 1840.2 Mt. The demand for steel will increase by 2.2% in 2023 to 1,881.4 metric tons. Therefore, the increasing demand for metals will drive the metal mining support activities market.
What Is Driving The Metal Mining Support Activities Market? Government Initiatives Driving Growth In The Metal Mining Support Activities Market
The increasing government initiatives are expected to propel the growth of the metal mining support activities market going forward. Government initiatives are actions, policies, or programs undertaken by a government to address specific issues, promote economic growth, or achieve societal goals. Metal mining support activities contribute to government initiatives by generating revenue through taxes, creating jobs, and fostering economic development in mining regions, thus aiding in economic growth and achieving socio-economic goals. For instance, in January 2022, according to the International Energy Agency, a France-based intergovernmental organization, the government launched the National Mining Policy 2050, in which representatives from private companies, academia, non-governmental organizations, and civil organizations participated. The policy seeks to develop a safe, diverse, and inclusive industry and to build a mining sector that improves workers' quality of life, integrates harmoniously in the territories where it operates, and adds value to the country. Therefore, the increasing government initiatives will drive the metal mining support activities market.
Who Are The Major Players In The Global Metal Mining Support Activities Market?
Major companies operating in the metal mining support activities market include Metallurgical Corporation of China Limited, Hochtief AG, NRW Holdings Limited, Weir Group plc, Major Drilling Group International Inc., Aveng Limited, Boart Longyear Ltd., Foraco International SA, PT United Tractors Tbk, Perenti Global Ltd., Ausenco Limited, AusGroup Limited, Ausmex Mining Group Limited, AusTin Mining Limited, Auswide Mining Group Limited, Barminco Holdings Pty Limited, BGC Contracting Pty Ltd., Bis Industries Holdings Limited, Byrnecut Australia Pty Ltd., Cementation USA Inc., CIMIC Group Limited, Clough Limited, Coffey International Limited, Downer EDI Limited, DRA Global Limited, Dyno Nobel Inc., Energold Drilling Corp., FLSmidth & Co. A/S, Golder Associates Corporation, Hatch Ltd., Imdex Limited, KBR Inc., Lycopodium Limited, Macmahon Holdings Limited, Monadelphous Group Limited, Orica Limited.
What Are The Key Trends Of The Global Metal Mining Support Activities Market? Enhancing Mining Support With 3D Modeling Technologies
Mining support companies are increasingly opting for 3D modeling technologies which reduce costs of discovery, improves prospecting, and facilitates focused exploration. A geological 3D modeling tool provides computerized illustrations of earth crust based on geological and geophysical observations made on earth surface and earth crust. It also provides detailed mapping and visualization of structural data of prospective mining zones and supports companies in resource estimation of mines, thus aiding the stakeholders to better interpret the data. This technology enhances discovery efficiency and improves exploration success rate. For instance, BRGM, a leading geological exploration based in France, carried out 3D geological modeling at Gardanne coal basin.
What Are The Key Trends Of The Global Metal Mining Support Activities Market? Environmental Sustainability Initiatives In Metal Mining Support Activities Market To Gain A Competitive Edge
Major companies operating in the metal mining support activities market are developing strategic partnerships to enhance operational efficiency and address increasing demands for critical minerals essential for the energy transition. Strategic partnerships in metal mining support activities enhance operational efficiency by pooling resources, sharing expertise, and improving technological capabilities, which is crucial for addressing the rising demand for critical minerals and navigating complex regulatory environments. For instance, in May 2023, Gradiant Corporation, a US-based company, providing solutions for advanced water and wastewater treatment, partnered with Schlumberger NV, a US-based technology company and Rio Tinto Group, a UK-based mining corporation to advance sustainability in mining through innovative technologies. This collaboration reflects a growing trend in the industry to leverage advanced solutions for environmental protection and operational efficiency.
Regional Outlook For The Global Metal Mining Support Activities Market
Asia-Pacific was the largest region in the metal mining support activities market in 2024. South America was the second largest region in the metal mining support activities market. The regions covered in the metal mining support activities market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the metal mining support activities market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
What Defines the Metal Mining Support Activities Market?
The metal mining support activities (except site preparation and related construction activities) market consists of revenue earned by entities by offering supporting activities for mining and quarrying of metallic minerals and for extraction of metal ores. Exploration for these minerals is included in this market and it includes traditional prospecting methods, such as taking core samples and making geological observations at prospective sites (but not geophysical surveying and mapping services). The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
How is Market Value Defined and Measured?
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
What is the Market Assessment and Strategic Outlook for the Metal Mining Support Activities Industry?
The metal mining support activities market research report is one of a series of new reports from The Business Research Company that provides metal mining support activities market statistics, including metal mining support activities industry global market size, regional shares, competitors with a metal mining support activities market share, detailed metal mining support activities market segments, market trends and opportunities, and any further data you may need to thrive in the metal mining support activities industry. This metal mining support activities 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.
