Underground Mining Market to Reach a Valuation Of ~Us$ 25 Bn By 2027 - PowerPoint PPT Presentation

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Underground Mining Market to Reach a Valuation Of ~Us$ 25 Bn By 2027


Underground Mining Market to Reach a Valuation Of ~Us$ 25 Bn By 2027 – PowerPoint PPT presentation

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Title: Underground Mining Market to Reach a Valuation Of ~Us$ 25 Bn By 2027

Underground Mining MarketGlobal
Industry Analysis, Size, Share, Growth, Trends
and Forecast, 2027
About Us
  • Transparency Market Research (TMR) is a market
    intelligence company, providing North America
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Global Underground Mining Market Key Highlights
  • The global underground mining market was valued
    at US 21.5 Bn in 2018, and is anticipated to
    expand at a CAGR of 2 during the forecast
  • Based on equipment, the drilling equipment
    segment accounted for a major share of the global
    underground mining market in 2018.
  • In terms of meazthod, the unsupported segment
    held a significant share of the global
    underground mining market in 2018.
    Room-and-pillar mining is an old method applied
    to horizontal or nearly horizontal deposits. This
    method has been refined over the years, and is
    used in coal and non-coal mining.
  • In terms of operator, the contract mining segment
    constituted a key share of the global underground
    mining market in 2018. Several contractual
    agreements are used in contract mining. These can
    be broadly classified into traditional contracts,
    risk sharing contracts, and strategic alliance
    contracts, depending upon the mine life or
    duration of the contract.
  • Latin America is estimated to offer high growth
    potential to the underground mining market in the
    next few years. Abundance of mineral resources
    and significant investments from mining companies
    are driving the underground mining market in the

Key Drivers and Restraints of Global Underground
Mining Market
  •  The renewable energy sector is expanding at a
    significant pace across the globe. However, it is
    unable to meet the rising demand for power. This
    has resulted in a chasm between the demand for
    power and its generation, which developing
    countries such as China, India, and Indonesia are
    striving to meet through coal-based generation.
    This is driving the use of coal in power
    generation applications.
  • According to the World Coal Association, coal
    accounted for approximately 38 share of the
    total electricity generated in 2018. This
    percentage has remained almost unchanged in the
    last 20 years. Thus, rise in the demand for power
    is expected to boost the demand for coal in the
    power industry. This is likely to drive the
    underground mining market. Coal production in the
    U.S. increased to 273 million short tons through
    underground mines in 2017, up from 252
    million short tons in 2016.
  • Implementation of IoT in underground mining
    provides several opportunities to companies to
    increase their productivity. IoT enables data
    integration from an increasing number of sources.
    This enables mining companies to plan their
    mining operations with accuracy.
  • Companies require skilled professionals with
    technical skills, high degree of problem-solving,
    and considerable understanding of such tools and
    machines to work with technologically-advanced
    tools and machines. According to a survey by the
    Associated General Contractors (AGC) of America,
    Inc., in January 2017, 73 of businesses faced
    difficulty in finding skilled workers,
    and 55 businesses identified worker shortage.
    Thus, dearth of skilled labor is hampering the
    implementation of smart mining methods. This is
    adversely affecting the underground mining

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Latin America Offers Lucrative Opportunities to
Global Underground Mining Market
  • Latin America dominates the global underground
    mining market. The mining industry in the region
    has been thriving since the last few years.
    In 2017, 305 companies invested US 2.38 Bn for
    exploration in the region. Chile, Peru, and
    Mexico received 25, 22, and 21 of these
    investments, respectively, in the year. Favorable
    government policies and automation of processes
    in excavation operations are anticipated to drive
    the underground mining market in Latin America
    during the forecast period.
  • Currently, Brazil has more than 180 active mines.
    The most productive underground mines in the
    country extract up to 1,000,000 tons of minerals
    every year. Currently, Brazil has two major
    underground mines Morro Velho and Serra Grande
    Gold Mine.
  • Chile is a prominent producer of copper in Latin
    America. It produces 32 of copper in the world.
    According to Cochilco, Chile's state copper
    agency, the country produced its largest volume
    of copper ever (i.e. 5.83 million tons) in 2018,
    up by more than 6 of that produced in 2017.

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