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The Global Green Mining Market is estimated to cross USD 15 billion by the end of the year 2027, at a compound annual growth rate (CAGR) of ~8% during the forecast period 2021-2027. Green mining use less-polluted mining processes and technology adoption to cut down the adverse effects on the environment. The major objective of green mining is to curb the footprint on the environment which is caused by acid-related damage from mining activities.
Governments and miners are actively deploying novel technologies to promote responsible mining practices and curb mining waste at every stage of the mining life cycle at the global level.
The market growth is majorly tended towards increasing concern over the environment, ill-effects of the mining industry, and increasing government participation to curb the pollution measures boost the development of green mining market.
Segmentation Overview of the Global Green Mining Market
Carbon Capture and Storage (CCS) technology can highly diminish the ecological impact of mining activities. The technology captures carbon dioxide which is emitted during the mining process at its source and transports it to a storage location.
The global green mining market is categorized on the basis of type, methods, and technology. These categorized are segmented into:
On the basis of Type
On the basis of Methods
On the basis of Technology
COVID-19 Impact Study
The green mining market faced a downtime in 2020, due to a decline in demand from various industries such as the mining industry, owing to strict lockdown measures imposed on various industries by respective governments in different countries due to the COVID-19 pandemic.
COVID-19 has impacted the sales of machinery and equipment in 2020 Q1 and is anticipated to be impacted by the mid-2021, due to limited operations in various countries and continued lockdown at different scales.
Regional Overview of the Green Mining Market
The green mining industry is categorized into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. As per the research study report, the European green mining market is anticipated to dominate the global marketplace during the forecast period. The regional dominance is attributed to the positive promotion and consumption of sustainable practices especially in some of the key countries such as Turkey, Poland, Russia, and Germany.
Anglo American, BHP Billiton, Dundee Precious Metals, Doosan Infracore, Freeport-McMoRan, Glencore, Jiangxi Copper Corporation, Liebherr, Rio Tinto, Sany Heavy Industry Co., Ltd., Saudi Arabian Mining Corporation, Shandong Gold Mining Co. Ltd., Tata Steel, and Vale S.A are some key players included in the research study of the global green mining market.
The green mining market analyzed to be highly competitive and noticed the domination of some prominent players across the globe. The industry poses a challenge for new market entrants and the established companies are working to bring innovative products in the global market to retain their dominance and grab forthcoming opportunities during the future period.