Metal Mining Support Activities Global Market Report 2021: COVID 19 Impact and Recovery to 2030
- January 2021 •
- 300 pages •
- Report ID: 6009818 •
- Format: PDF
The global metal mining support activities market is expected to grow from $109.43 billion in 2020 to $127.69 billion in 2021 at a compound annual growth rate (CAGR) of 16.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $152.13 billion in 2025 at a CAGR of 4%.
The metal mining support activities (except site preparation and related construction activities) market consists of sales of support activities for metal mining (except site preparation and related construction activities) by entities (organizations, sole traders and partnerships) that perform support 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 metal mining support activities market is segmented into metal mining drilling services; metal mining exploration services; metal mining draining services and other metal mining support activities.
Asia Pacific was the largest region in the global metal mining support activities market, accounting for 61% of the market in 2020. South America was the second largest region accounting for 16% of the global metal mining support activities market. Middle East was the smallest region in the global metal mining support activities market.
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.