Global Surface Mining Market Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2022 to 2028

The global surface mining market is anticipated to grow at a significant CAGR of 3.3% during the forecast period (2022-2028). Surface mining is a type of mining that involves removing overlying rock and soil in order to collect mineral resources. Open-pit mining, strip mining, and mountaintop removal are the first types of surface mining methods. Surface mining has various advantages over underground mining, including lower operational costs and less complexity. Moreover, other advantages of surface mining include lower injury rates, improved recovery, flexibility, and grade control.

A major factor driving the surface mining market includes the increasing construction projects around the globe. Furthermore, the increasing investments for infrastructural developments in developing nations, combined with fast industrialization, are producing growth opportunities for surface mining firms. According to Oxford Economics, global infrastructure investment is predicted to reach $3.8 trillion by 2040, up by 67% in real terms from 2015.

North America holds the largest share in the global surface mining market, and this dominance is anticipated to continue during the forecast period. The presence of a large number of coal, metallic, and non-metallic reserves in the region is expected to fuel the expansion of the North American surface mining market. The US and Canada are thought to be the most important contributors to the growth of the North American surface mining market. According to the US Energy Information Administration, the proven coal reserves are estimated to be 476 billion short tones in the country. Similarly, the abundance of non-metallic mineral ores in Canada is expected to boost the expansion of the North American surface mining market. According to the Mining Association of Canada, there were 1,192 mining establishments in Canada in 2014, with 1,120 non-metallic mines.

The market players are additionally, contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, in order to stay competitive in the market. For instance-

• In July 2021, the Bonneville Lock and Dam Trash Rack Replacement project on the Columbia River in Oregon was awarded by American Mine Services. The project entails constructing new trash racks, removing the old trash racks, and installing the new trash racks with the help of divers.
• In June 2021, African Mining Services (AMS), a subsidiary of Perenti Global Ltd., has been granted the contract for open pit mining services at Sandfire Resources’ Motheo Copper Project (Motheo) near Ghanzi, Botswana. The contract is worth estimation of$496 million.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Application
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape-Perenti Global Ltd., American Mine Services, Macmahon Holdings Ltd., BCM International Ltd., and LAXYO, among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Surface Mining Market Report by Segment

By Type

• Strip Mining
• Terrace Mining
• Open-Pit Mining
• Others

By Application

• Coal Mining
• Metal Mining
• Mineral Mining