Underground Mining Market By Product (Supported, Unsupported, Caving) , By Operator (Contract Mining, Operator Mining) By Application (Coal Mining, Metal Mining, Mineral Mining, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033

Description

Underground Mining Market

The underground mining market was valued at $23.1 Billion in 2023, and is projected to reach $28.5 Billion by 2033, growing at a CAGR of 2.1% from 2024 to 2033

Underground mining involves the extraction of minerals, ores, and other geological materials from the underground surface of the earth. In this form of mining, holes are created on the earth's surface by blasting. On average, underground mining involves digging up to 1,000ft deeper into the Earth's surface. However, for some minerals such as uranium the earth is dug up to an extreme range of 6,500ft.

Surge in the expansion of industrialization and urbanization has boosted the demand for metals & minerals, hence driving the growth of the underground mining market. In addition, scarcity of resources on the upper surface of the earth is increasing the requirement for underground mining to dig deeper and extract resources. The market development is significantly propelled by advancements in technology, including automation and improved ventilation systems. Moreover, real-time monitoring technique is boosting the adoption of innovative mining technologies as the technique ensures improved worker safety and amplified productivity. The trend of AI has assimilated into the operations of underground mining. Mining companies have begun to use the attributes of AI such as data analytics and automation to optimize their operations, reduce downtime, and lower the maintenance costs. AI further facilitates the prediction of geotechnical conditions, assisting the mining companies in decision making regarding risk mitigation.

However, underground mining is a cost-intensive procedure as it requires significant expenditure for different activities such as ventilation, drilling, ground support, and safety measures. This hampers the development of the underground mining market. Furthermore, the market growth is subject to several regulatory measures pertaining to worker safety, environment protection, and resource management. Compliance with these regulations is an intricate and time-consuming process, which delays the development. According to Statista, a global data and business intelligence platform, the net profit margin of the global mining industry has declined from 25% in 2010 to 14% in 2022. Contrarily, explorations in deep-sea mining and advancements in underwater robotics for extraction are poised to open new avenues for the market expansion.

Segment Review

The underground mining market is segmented into product, operator, application, and region. On the basis of product, the market is divided into supported, unsupported, and caving. Depending on operator, it is bifurcated into contract mining and operator mining. As per application, it is classified into coal mining, metal mining, mineral mining, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

Key Findings

On the basis of product, the supported segment acquired a high stake in the market in 2023.

Depending on operator, the contract mining segment held a high market share in 2023.

As per application, the coal mining segment accounted for a high market share in 2023.

Region wise, Asia-Pacific is anticipated to be the highest revenue generator by 2033.

Competition Analysis

The major players of the global underground mining market include BHP, Anglo American PLC., Rio Tinto, Vale SA, Implats Platinum Limited, MMC Norilsk Nickel PJSC, Amur Minerals Corporation, Alcoa Corporation, The Redpath Group, and GBF Underground Mining Company Limited. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.

Additional benefits you will get with this purchase are:

Quarterly Update and* (only available with a corporate license, on listed price)
5 additional Company Profile of client Choice pre- or Post-purchase, as a free update.
Free Upcoming Version on the Purchase of Five and Enterprise User License.
16 analyst hours of support* (post-purchase, if you find additional data requirements upon review of the report, you may receive support amounting to 16 analyst hours to solve questions, and post-sale queries)
15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent to 3 working days of free work, applicable once)
Free data Pack on the Five and Enterprise User License. (Excel version of the report)
Free Updated report if the report is 6-12 months old or older.
24-hour priority response*
Free Industry updates and white papers.

Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)

Capital Investment breakdown
Average Consumer Expenditure
Additional company profiles with specific to client's interest

Key Market Segments

By Product

Supported
Unsupported
Caving

By Operator

Contract Mining
Operator Mining

By Application

Coal Mining
Metal Mining
Mineral Mining
Others

By Region

North America
- U.S.
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- UK
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Argentina
- Rest of
Middle East Africa
- South Africa
- UAE
- Soudi Arabia
- Rest of Middle East Africa

Key Market Players:

BHP
Anglo American PLC.
Rio Tinto
Vale SA
Implats Platinum Limited
MMC Norilsk Nickel PJSC
Amur Minerals Corporation
Alcoa Corporation
The Redpath Group
GBF Underground Mining Company Limited

Product Code: A10694

CHAPTER 1: INTRODUCTION

1.1. Report Description
1.2. Key Market Segments
1.3. Key Benefits
1.4. Research Methodology
- 1.4.1. Primary Research
- 1.4.2. Secondary Research
- 1.4.3. Analyst Tools and Models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. CXO Perspective

CHAPTER 3: MARKET LANDSCAPE

3.1. Market Definition and Scope
3.2. Key Findings
- 3.2.1. Top Investment Pockets
- 3.2.2. Top Winning Strategies
3.3. Porter's Five Forces Analysis
- 3.3.1. Bargaining Power of Suppliers
- 3.3.2. Threat of New Entrants
- 3.3.3. Threat of Substitutes
- 3.3.4. Competitive Rivalry
- 3.3.5. Bargaining Power among Buyers
3.4. Market Dynamics
- 3.4.1. Drivers
- 3.4.2. Restraints
- 3.4.3. Opportunities

CHAPTER 4: UNDERGROUND MINING MARKET, BY PRODUCT

4.1. Market Overview
- 4.1.1 Market Size and Forecast, By Product
4.2. Supported
- 4.2.1. Key Market Trends, Growth Factors and Opportunities
- 4.2.2. Market Size and Forecast, By Region
- 4.2.3. Market Share Analysis, By Country
4.3. Unsupported
- 4.3.1. Key Market Trends, Growth Factors and Opportunities
- 4.3.2. Market Size and Forecast, By Region
- 4.3.3. Market Share Analysis, By Country
4.4. Caving
- 4.4.1. Key Market Trends, Growth Factors and Opportunities
- 4.4.2. Market Size and Forecast, By Region
- 4.4.3. Market Share Analysis, By Country

CHAPTER 5: UNDERGROUND MINING MARKET, BY OPERATOR

5.1. Market Overview
- 5.1.1 Market Size and Forecast, By Operator
5.2. Contract Mining
- 5.2.1. Key Market Trends, Growth Factors and Opportunities
- 5.2.2. Market Size and Forecast, By Region
- 5.2.3. Market Share Analysis, By Country
5.3. Operator Mining
- 5.3.1. Key Market Trends, Growth Factors and Opportunities
- 5.3.2. Market Size and Forecast, By Region
- 5.3.3. Market Share Analysis, By Country

CHAPTER 6: UNDERGROUND MINING MARKET, BY APPLICATION

6.1. Market Overview
- 6.1.1 Market Size and Forecast, By Application
6.2. Coal Mining
- 6.2.1. Key Market Trends, Growth Factors and Opportunities
- 6.2.2. Market Size and Forecast, By Region
- 6.2.3. Market Share Analysis, By Country
6.3. Metal Mining
- 6.3.1. Key Market Trends, Growth Factors and Opportunities
- 6.3.2. Market Size and Forecast, By Region
- 6.3.3. Market Share Analysis, By Country
6.4. Mineral Mining
- 6.4.1. Key Market Trends, Growth Factors and Opportunities
- 6.4.2. Market Size and Forecast, By Region
- 6.4.3. Market Share Analysis, By Country
6.5. Others
- 6.5.1. Key Market Trends, Growth Factors and Opportunities
- 6.5.2. Market Size and Forecast, By Region
- 6.5.3. Market Share Analysis, By Country

CHAPTER 7: UNDERGROUND MINING MARKET, BY REGION

7.1. Market Overview
- 7.1.1 Market Size and Forecast, By Region
7.2. North America
- 7.2.1. Key Market Trends and Opportunities
- 7.2.2. Market Size and Forecast, By Product
- 7.2.3. Market Size and Forecast, By Operator
- 7.2.4. Market Size and Forecast, By Application
- 7.2.5. Market Size and Forecast, By Country
- 7.2.6. U.S. Underground Mining Market
  - 7.2.6.1. Market Size and Forecast, By Product
  - 7.2.6.2. Market Size and Forecast, By Operator
  - 7.2.6.3. Market Size and Forecast, By Application
- 7.2.7. Canada Underground Mining Market
  - 7.2.7.1. Market Size and Forecast, By Product
  - 7.2.7.2. Market Size and Forecast, By Operator
  - 7.2.7.3. Market Size and Forecast, By Application
- 7.2.8. Mexico Underground Mining Market
  - 7.2.8.1. Market Size and Forecast, By Product
  - 7.2.8.2. Market Size and Forecast, By Operator
  - 7.2.8.3. Market Size and Forecast, By Application
7.3. Europe
- 7.3.1. Key Market Trends and Opportunities
- 7.3.2. Market Size and Forecast, By Product
- 7.3.3. Market Size and Forecast, By Operator
- 7.3.4. Market Size and Forecast, By Application
- 7.3.5. Market Size and Forecast, By Country
- 7.3.6. France Underground Mining Market
  - 7.3.6.1. Market Size and Forecast, By Product
  - 7.3.6.2. Market Size and Forecast, By Operator
  - 7.3.6.3. Market Size and Forecast, By Application
- 7.3.7. Germany Underground Mining Market
  - 7.3.7.1. Market Size and Forecast, By Product
  - 7.3.7.2. Market Size and Forecast, By Operator
  - 7.3.7.3. Market Size and Forecast, By Application
- 7.3.8. Italy Underground Mining Market
  - 7.3.8.1. Market Size and Forecast, By Product
  - 7.3.8.2. Market Size and Forecast, By Operator
  - 7.3.8.3. Market Size and Forecast, By Application
- 7.3.9. UK Underground Mining Market
  - 7.3.9.1. Market Size and Forecast, By Product
  - 7.3.9.2. Market Size and Forecast, By Operator
  - 7.3.9.3. Market Size and Forecast, By Application
- 7.3.10. Rest of Europe Underground Mining Market
  - 7.3.10.1. Market Size and Forecast, By Product
  - 7.3.10.2. Market Size and Forecast, By Operator
  - 7.3.10.3. Market Size and Forecast, By Application
7.4. Asia-Pacific
- 7.4.1. Key Market Trends and Opportunities
- 7.4.2. Market Size and Forecast, By Product
- 7.4.3. Market Size and Forecast, By Operator
- 7.4.4. Market Size and Forecast, By Application
- 7.4.5. Market Size and Forecast, By Country
- 7.4.6. China Underground Mining Market
  - 7.4.6.1. Market Size and Forecast, By Product
  - 7.4.6.2. Market Size and Forecast, By Operator
  - 7.4.6.3. Market Size and Forecast, By Application
- 7.4.7. Japan Underground Mining Market
  - 7.4.7.1. Market Size and Forecast, By Product
  - 7.4.7.2. Market Size and Forecast, By Operator
  - 7.4.7.3. Market Size and Forecast, By Application
- 7.4.8. India Underground Mining Market
  - 7.4.8.1. Market Size and Forecast, By Product
  - 7.4.8.2. Market Size and Forecast, By Operator
  - 7.4.8.3. Market Size and Forecast, By Application
- 7.4.9. South Korea Underground Mining Market
  - 7.4.9.1. Market Size and Forecast, By Product
  - 7.4.9.2. Market Size and Forecast, By Operator
  - 7.4.9.3. Market Size and Forecast, By Application
- 7.4.10. Rest of Asia-Pacific Underground Mining Market
  - 7.4.10.1. Market Size and Forecast, By Product
  - 7.4.10.2. Market Size and Forecast, By Operator
  - 7.4.10.3. Market Size and Forecast, By Application
7.5. Latin America
- 7.5.1. Key Market Trends and Opportunities
- 7.5.2. Market Size and Forecast, By Product
- 7.5.3. Market Size and Forecast, By Operator
- 7.5.4. Market Size and Forecast, By Application
- 7.5.5. Market Size and Forecast, By Country
- 7.5.6. Brazil Underground Mining Market
  - 7.5.6.1. Market Size and Forecast, By Product
  - 7.5.6.2. Market Size and Forecast, By Operator
  - 7.5.6.3. Market Size and Forecast, By Application
- 7.5.7. Argentina Underground Mining Market
  - 7.5.7.1. Market Size and Forecast, By Product
  - 7.5.7.2. Market Size and Forecast, By Operator
  - 7.5.7.3. Market Size and Forecast, By Application
- 7.5.8. Rest of Underground Mining Market
  - 7.5.8.1. Market Size and Forecast, By Product
  - 7.5.8.2. Market Size and Forecast, By Operator
  - 7.5.8.3. Market Size and Forecast, By Application
7.6. Middle East And Africa
- 7.6.1. Key Market Trends and Opportunities
- 7.6.2. Market Size and Forecast, By Product
- 7.6.3. Market Size and Forecast, By Operator
- 7.6.4. Market Size and Forecast, By Application
- 7.6.5. Market Size and Forecast, By Country
- 7.6.6. South Africa Underground Mining Market
  - 7.6.6.1. Market Size and Forecast, By Product
  - 7.6.6.2. Market Size and Forecast, By Operator
  - 7.6.6.3. Market Size and Forecast, By Application
- 7.6.7. UAE Underground Mining Market
  - 7.6.7.1. Market Size and Forecast, By Product
  - 7.6.7.2. Market Size and Forecast, By Operator
  - 7.6.7.3. Market Size and Forecast, By Application
- 7.6.8. Saudi Arabia Underground Mining Market
  - 7.6.8.1. Market Size and Forecast, By Product
  - 7.6.8.2. Market Size and Forecast, By Operator
  - 7.6.8.3. Market Size and Forecast, By Application
- 7.6.9. Rest of Middle East And Africa Underground Mining Market
  - 7.6.9.1. Market Size and Forecast, By Product
  - 7.6.9.2. Market Size and Forecast, By Operator
  - 7.6.9.3. Market Size and Forecast, By Application

CHAPTER 8: COMPETITIVE LANDSCAPE

8.1. Introduction
8.2. Top Winning Strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Top Player Positioning, 2023

CHAPTER 9: COMPANY PROFILES

9.1. BHP
- 9.1.1. Company Overview
- 9.1.2. Key Executives
- 9.1.3. Company Snapshot
- 9.1.4. Operating Business Segments
- 9.1.5. Product Portfolio
- 9.1.6. Business Performance
- 9.1.7. Key Strategic Moves and Developments
9.2. Anglo American PLC.
- 9.2.1. Company Overview
- 9.2.2. Key Executives
- 9.2.3. Company Snapshot
- 9.2.4. Operating Business Segments
- 9.2.5. Product Portfolio
- 9.2.6. Business Performance
- 9.2.7. Key Strategic Moves and Developments
9.3. Rio Tinto
- 9.3.1. Company Overview
- 9.3.2. Key Executives
- 9.3.3. Company Snapshot
- 9.3.4. Operating Business Segments
- 9.3.5. Product Portfolio
- 9.3.6. Business Performance
- 9.3.7. Key Strategic Moves and Developments
9.4. Vale SA
- 9.4.1. Company Overview
- 9.4.2. Key Executives
- 9.4.3. Company Snapshot
- 9.4.4. Operating Business Segments
- 9.4.5. Product Portfolio
- 9.4.6. Business Performance
- 9.4.7. Key Strategic Moves and Developments
9.5. Implats Platinum Limited
- 9.5.1. Company Overview
- 9.5.2. Key Executives
- 9.5.3. Company Snapshot
- 9.5.4. Operating Business Segments
- 9.5.5. Product Portfolio
- 9.5.6. Business Performance
- 9.5.7. Key Strategic Moves and Developments
9.6. MMC Norilsk Nickel PJSC
- 9.6.1. Company Overview
- 9.6.2. Key Executives
- 9.6.3. Company Snapshot
- 9.6.4. Operating Business Segments
- 9.6.5. Product Portfolio
- 9.6.6. Business Performance
- 9.6.7. Key Strategic Moves and Developments
9.7. Amur Minerals Corporation
- 9.7.1. Company Overview
- 9.7.2. Key Executives
- 9.7.3. Company Snapshot
- 9.7.4. Operating Business Segments
- 9.7.5. Product Portfolio
- 9.7.6. Business Performance
- 9.7.7. Key Strategic Moves and Developments
9.8. Alcoa Corporation
- 9.8.1. Company Overview
- 9.8.2. Key Executives
- 9.8.3. Company Snapshot
- 9.8.4. Operating Business Segments
- 9.8.5. Product Portfolio
- 9.8.6. Business Performance
- 9.8.7. Key Strategic Moves and Developments
9.9. The Redpath Group
- 9.9.1. Company Overview
- 9.9.2. Key Executives
- 9.9.3. Company Snapshot
- 9.9.4. Operating Business Segments
- 9.9.5. Product Portfolio
- 9.9.6. Business Performance
- 9.9.7. Key Strategic Moves and Developments
9.10. GBF Underground Mining Company Limited
- 9.10.1. Company Overview
- 9.10.2. Key Executives
- 9.10.3. Company Snapshot
- 9.10.4. Operating Business Segments
- 9.10.5. Product Portfolio
- 9.10.6. Business Performance
- 9.10.7. Key Strategic Moves and Developments