With more mining stakeholders developing interest in large-scale application of flying drones in mining operations, the build-up of
With more mining stakeholders developing interest in large-scale application of flying drones in mining operations, the build-up of underground mining market is likely to accelerate. Mounting demand for contractual mining services is likely to favour market expansion. Introduction of a range of equipment inspection solutions will also support market growth in the near future. A recent study of Fairfield Market Research indicates that the reliability and safety of underground mining operations will improve with the advent of technology in mining infrastructure, equipment, and services. Coal, mineral, and metal will continue to be the key areas uplifting the prospects of underground mining, says Fairfield Market Research. Coal mining is projected to hold the maximum revenue generation opportunity, and stoping will remain the sought-after underground mining method.
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Steady Increment in Global Metal Yield to Favour Market Growth
Remarkable resurgence of mining industry post-COVID-19 impact has been the strongest factor pushing underground mining, and 2020 had in fact been proven to be a favourable year for mining industry when it comes to evaluating the annual industry revenue. Post-2020, investments in mining activities continue to climb up. This is further supplemented by the consistently surging demand for metals, especially precious metals like gold, platinum, silver, and titanium. Research points to this fact as a key potential booster to underground mining. There has also been an increase in demand for efficient underground mining of the most sought-after metals, including copper, zinc, nickel, as well as iron ore. Sustained increment in the worldwide metal production is likely to work to the advantage of underground mining market.
LATAM Remains Key Contributor to Underground Mining, Africa and Australia Follow
Underground mining currently accounts for just about 12% of the total run-of-mine (ROM) production and the Latin American (LATAM) region has been the top provider of the largest run of mine in terms of volume, closely trailed by Oceania. While LATAM will continue to be among the key driving regions for underground mining market, Africa will also be an important market. As far as the contribution of Asian subcontinent is concerned, Australia will remain the most critical revenue generator. Investigation activities in Australia, China, Brazil, India, and Africa are expected to largely favour the anticipated expansion of underground mining. The report would also provide an exclusive insightful analysis of the dense underground mining locations in and around Australia like Western and South Australia, NSW, Queensland, Northern Territory, and Tasmania.
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Leading Underground Mining Market Players
The report would provide an insightful view of the competition landscape of global underground mining market. Some of the key companies that would be profiled under the competition analysis, include Sandvik AB, Rio Tinto, Vale S.A., Caterpillar, Atlas Copco, Sany Group, Anglo American Plc, Thyssen Mining, Amur Minerals Corporation, BHP, OZ Minerals, Implats Platinum Limited, Norilsk Nickel Group, Glencore plc, Coal India Ltd, China Shenhua Energy Company Limited, Barminco, GBF Underground Mining Company, The Redpath Group, CIMIC Group Limited, and Alcoa Corporation.
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