PUBLISHER: Daedal Research | PRODUCT CODE: 1618248
PUBLISHER: Daedal Research | PRODUCT CODE: 1618248
Global Green Mining Market: Analysis By Mining Type, By Technology, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2029
The global green mining market in 2023 stood at US$12.11 billion and is likely to reach US$21.32 billion by 2029. Green mining refers to the practices and technologies applied in the mining industry aimed at reducing its environmental impact while improving operational efficiency. This concept integrates sustainable practices throughout the mining process, from exploration to mineral extraction, to processing, and ultimately, waste management.
The growth of the global green mining market is driven by increasing environmental regulations and the growing demand for sustainable mining practices. Governments and organizations worldwide are emphasizing the reduction of greenhouse gas emissions, water usage, and land degradation caused by traditional mining activities. Advances in technologies, such as renewable energy integration, water recycling, and precision mining, are enabling mining companies to adopt eco-friendly processes while improving operational efficiency. Additionally, the rising awareness among investors and consumers about environmentally responsible practices has prompted mining firms to implement greener methods to enhance their corporate social responsibility (CSR) credentials. The market is further supported by the surging demand for sustainably sourced minerals in industries like renewable energy, electric vehicles, and electronics, aligning with global decarbonization goals. The global green mining market is projected to grow at a CAGR of 9.88% during the forecast period of 2024-2029.
Market Segmentation Analysis:
By Mining Type: The report has segmented the global green mining market into two segments namely, surface and underground. In 2023, the surface segment dominated the market share due to its cost-effectiveness, operational simplicity, and ability to extract large volumes of minerals with minimal resource input. Surface mining techniques, such as open-pit and strip mining, are easier to implement with green technologies like renewable energy, water management systems, and dust suppression methods. Additionally, advancements in equipment automation and precision mining technologies have made surface mining more efficient and environmentally friendly, further driving its dominance in the market. On the other hand, underground segment is expected to grow the fastest during forecasted period due to increasing investments in advanced technologies that enhance safety, efficiency, and sustainability in subsurface operations. Innovations such as automated mining equipment, real-time monitoring systems, and low-emission ventilation solutions are making underground mining more viable and environmentally friendly. Additionally, the growing demand for high-value minerals located in deeper deposits and the need to minimize surface disruption are encouraging the adoption of underground mining.
By Technology: The global green mining market can be divided into five segments according to application: power reduction, fuel and maintenance reduction, toxicity reduction, emission reductions and water reduction. Power reduction segment holds the largest market share in 2023 due to the growing emphasis on energy efficiency and cost savings in mining operations. Mining companies are increasingly adopting renewable energy sources, energy-efficient equipment, and smart grid technologies to reduce electricity consumption and operational expenses. The rising costs of conventional energy and the push to meet stringent carbon reduction targets have further incentivized investments in power reduction strategies. On the other hand, emission reduction segment is expected to grow the fastest during forecasted period due to increasing regulatory pressure to curb greenhouse gas emissions and the global shift toward decarbonization. Mining companies are adopting cleaner technologies, such as electric and hybrid mining equipment, carbon capture and storage (CCS), and renewable energy integration, to reduce their carbon footprint.
By Region: According to this report, the global green mining market can be divided into four major regions: Asia Pacific (China, Japan, India, South Korea and Rest of Asia Pacific), North America (The US, Canada and Mexico), Europe (Germany, UK, France, Italy and Rest of Europe) and Rest of the world. In 2023, Asia Pacific dominated the global green mining market and is expected to grow at the fastest CAGR from 2024 to 2029 due to rapid industrialization, urbanization, and the region's abundant mineral resources. Countries like China and India are heavily investing in sustainable mining practices to meet increasing domestic demand while addressing environmental concerns. Government initiatives promoting green technologies, stricter environmental regulations, and the adoption of renewable energy and advanced mining equipment are driving growth in the region. Additionally, the rising demand for sustainably sourced minerals in industries such as electronics and renewable energy further boosts the market's expansion in Asia Pacific.
Global Green mining Market Dynamics:
Growth Drivers: Rising green finance is a significant growth driver of the global green mining market, as it provides the necessary capital for companies to transition toward more sustainable practices. Green bonds, loans, and investment funds dedicated to environmental initiatives enable mining firms to adopt advanced eco-friendly technologies, such as renewable energy integration, waste recycling systems, and emission control solutions. Financial institutions and investors are increasingly prioritizing projects with strong environmental, social, and governance (ESG) criteria, aligning with global sustainability goals. This access to green finance not only reduces the financial burden of implementing costly green technologies but also enhances the competitiveness and reputation of mining companies, accelerating the market's growth. Further, the market is expected to grow owing to increased demand for critical minerals, increasing environmental regulations, growing focus on sustainability and ESG goals, rising public and corporate awareness, economic benefits of sustainable practices etc. in recent years.
Challenges: High initial investment cost is a significant challenge in the global green mining market, as implementing sustainable technologies and practices often requires substantial upfront capital. Transitioning to green mining involves expenses for advanced equipment, renewable energy systems, waste management technologies, and compliance with stringent environmental regulations. These costs can be a deterrent, especially for small and medium-sized mining companies with limited financial resources. Additionally, the lengthy payback period for these investments can further discourage adoption. Additionally, factors like difficulty in reporting sustainability impact etc. are other challenges to the market.
Market Trends: The expansion of circular economy practices is a key trend driving the global green mining market, as it emphasizes resource efficiency, waste minimization, and sustainable production cycles. Circular economy approaches encourage recycling and reusing mining waste, reducing dependency on virgin raw materials and lowering environmental impact. Mining companies are adopting technologies to recover valuable materials from tailings and scrap, promoting a closed-loop system. This not only reduces costs but also aligns with consumer and regulatory demands for sustainable practices. As industries increasingly prioritize circularity, the demand for eco-friendly mining practices will continue to grow, fostering long-term market expansion. More trends in the market are believed to grow the green mining market during the forecasted period, which may include the increased use of automation and AI, adoption of renewable energy in mining operations, focus on carbon neutrality, digital twin technology in mining, advancements in bio-mining etc.
Impact Analysis of COVID-19 and Way Forward:
The COVID-19 pandemic initially disrupted the global green mining market, causing delays in projects, halting supply chains, and impacting investments due to economic uncertainty. Mining operations faced challenges in maintaining workforce safety, resulting in production slowdowns. However, the post-COVID period has seen a rebound, with a heightened focus on sustainability and eco-friendly practices, as the pandemic underscored the importance of building resilient, environmentally responsible industries.
Competitive Landscape and Recent Developments: vv
The global green mining market is characterized by a mix of large multinational corporations, medium-sized enterprises, and a growing number of technology-focused startups. These players are involved in the development and adoption of sustainable mining practices, offering solutions in areas like renewable energy integration, water management, emissions reduction, waste recycling, and eco-friendly mining technologies. The competitive landscape is marked by intense rivalry among players.
Further, key players in the green mining market are:
BHP Group Limited
Rio Tinto
Vale S.A.
Anglo American
Glencore
Tata Steel (Tata Steel Mining Limited)
Freeport-McMoRan Inc.
Newmont Corporation
Dundee Precious Metalsv Sumitomo Metal Mining Co., Ltd.
ArcelorMittal etc.
Companies focus on R&D to create innovative technologies, invest in modern production technology, and employ novel marketing techniques emphasizing customer awareness and education. Strategic partnerships, mergers, and acquisitions are common as firms seek to expand their product offerings and market presence. An example of this is on February 29, 2024, Anglo American partnered with EDF Renewables to develop a renewable energy ecosystem in South Africa, targeting at least 500 megawatts of solar and wind capacity by 2030 and in 2022, Anglo American plc unveiled a prototype of the world's largest hydrogen-powered mine haul truck designed to operate in everyday mining conditions at its Mogalakwena PGMs mine in South Africa.
Table of Contents
1. Executive Summary
2. Introduction
- 2.1 Green Mining: An Overview
- 2.1.1 Definition of Green Mining
- 2.1.2 Benefits of Green Mining
- 2.2 Green Mining Segmentation: An Overview
- 2.2.1 Green Mining Segmentation
3. Global Market Analysis
- 3.1 Global Green Mining Market: An Analysis
- 3.1.1 Global Green Mining Market: An Overview
- 3.1.2 Global Green Mining Market by Value
- 3.1.3 Global Green Mining Market by Mining Type (Surface and Underground)
- 3.1.4 Global Green Mining Market by Technology (Power Reduction, Fuel and Maintenance Reduction, Toxicity Reduction, Emission Reductions and Water Reduction)
- 3.1.5 Global Green Mining Market by Region (Asia Pacific, North America, Europe and Rest of the World)
- 3.2 Global Green Mining Market: Mining Type Analysis
- 3.2.1 Global Green Mining Market by Mining Type: An Overview
- 3.2.2 Global Surface Green Mining Market by Value
- 3.2.3 Global Underground Green Mining Market by Value
- 3.3 Global Green Mining Market: Technology Analysis
- 3.3.1 Global Green Mining Market by Technology: An Overview
- 3.3.2 Global Power Reduction Green Mining Market by Value
- 3.3.3 Global Fuel and Maintenance Reduction Green Mining Market by Value
- 3.3.4 Global Toxicity Reduction Green Mining Market by Value
- 3.3.5 Global Emission Reduction Green Mining Market by Value
- 3.3.6 Global Water Reduction Green Mining Market by Value
4. Regional Market Analysis
- 4.1 Asia Pacific Green Mining Market: An Analysis
- 4.1.1 Asia Pacific Green Mining Market: An Overview
- 4.1.2 Asia Pacific Green Mining Market by Value
- 4.1.3 Asia Pacific Green Mining Market by Mining Type (Surface and Underground)
- 4.1.4 Asia Pacific Green Mining Market Type by Value
- 4.1.5 Asia Pacific Green Mining Market by Technology (Power Reduction, Fuel and Maintenance Reduction, Toxicity Reduction, Emission Reductions and Water Reduction)
- 4.1.6 Asia Pacific Green Mining Market Technology by Value
- 4.1.7 Asia Pacific Green Mining Market by Region (China, India, Japan, South Korea and Rest of Europe)
- 4.1.8 China Green Mining Market by Value
- 4.1.9 India Green Mining Market by Value
- 4.1.10 Japan Green Mining Market by Value
- 4.1.11 South Korea Green Mining Market by Value
- 4.1.12 Rest of Asia Pacific Green Mining Market by Value
- 4.2 North America Green Mining Market: An Analysis
- 4.2.1 North America Green Mining Market: An Overview
- 4.2.2 North America Green Mining Market by Value
- 4.2.3 North America Green Mining Market by Mining Type (Surface and Underground)
- 4.2.4 North America Green Mining Market Type by Value
- 4.2.5 North America Green Mining Market by Technology (Power Reduction, Fuel and Maintenance Reduction, Toxicity Reduction, Emission Reductions and Water Reduction)
- 4.2.6 North America Green Mining Market Technology by Value
- 4.2.7 North America Green Mining Market by Region (The US, Canada and Mexico)
- 4.2.8 The US Green Mining Market by Value
- 4.2.9 Canada Green Mining Market by Value
- 4.2.10 Mexico Green Mining Market by Value
- 4.3 Europe Green Mining Market: An Analysis
- 4.3.1 Europe Green Mining Market: An Overview
- 4.3.2 Europe Green Mining Market by Value
- 4.3.3 Europe Green Mining Market by Mining Type (Surface and Underground)
- 4.3.4 Europe Green Mining Market Mining Type by Value
- 4.3.5 Europe Green Mining Market by Technology (Power Reduction, Fuel and Maintenance Reduction, Toxicity Reduction, Emission Reductions and Water Reduction)
- 4.3.6 Europe Green Mining Market Technology by Value
- 4.3.7 Europe Green Mining Market by Region (Germany, UK, France, Italy and Rest of Europe)
- 4.3.8 Germany Green Mining Market by Value
- 4.3.9 UK Green Mining Market by Value
- 4.3.10 France Green Mining Market by Value
- 4.3.11 Italy Green Mining Market by Value
- 4.3.12 Rest of Europe Green Mining Market by Value
- 4.4 Rest of the World Green Mining Market: An Analysis
- 4.4.1 Rest of the World Green Mining Market: An Overview
- 4.4.2 Rest of the World Green Mining Market by Value
5. Impact of COVID-19
- 5.1 Impact of COVID-19 on Global Green Mining Market
- 5.2 Post COVID-19 Impact on Global Green Mining Market
6. Market Dynamics
- 6.1 Growth Drivers
- 6.1.1 Increased Demand for Critical Minerals
- 6.1.2 Rising Green Finance
- 6.1.3 Increasing Environmental Regulations
- 6.1.4 Growing Focus on Sustainability and ESG Goals
- 6.1.5 Rising Public and Corporate Awareness
- 6.1.6 Economic Benefits of Sustainable Practices
- 6.2 Challenges
- 6.2.1 High Initial Investment Costs
- 6.2.2 Measuring and Reporting Sustainability Impact
- 6.3 Market Trends
- 6.3.1 Increased Use of Automation and AI
- 6.3.2 Adoption of Renewable Energy in Mining Operations
- 6.3.3 Expansion of Circular Economy Practices
- 6.3.4 Focus on Carbon Neutrality
- 6.3.5 Digital Twin Technology in Mining
- 6.3.6 Advancements in Bio-Mining
7. Competitive Landscape
- 7.1 Global Green Mining Market Players: Competitive Landscape
- 7.2 Global Green Mining Market Players: Recent Developments
8. Company Profiles
- 8.1 BHP Group Limited
- 8.1.1 Business Overview
- 8.1.2 Operating Segments
- 8.1.3 Business Strategy
- 8.2 Rio Tinto
- 8.2.1 Business Overview
- 8.2.2 Operating Segments
- 8.2.3 Business Strategy
- 8.3 Vale S.A.
- 8.3.1 Business Overview
- 8.3.2 Operating Segments
- 8.3.3 Business Strategy
- 8.4 Anglo American
- 8.4.1 Business Overview
- 8.4.2 Operating Segments
- 8.4.3 Business Strategy
- 8.5 Glencore
- 8.5.1 Business Overview
- 8.5.2 Operating Segments
- 8.5.3 Business Strategy
- 8.6 Tata Steel (Tata Steel Mining Limited)
- 8.6.1 Business Overview
- 8.6.2 Operating Segments
- 8.6.3 Business Strategy
- 8.7 Freeport-McMoRan Inc.
- 8.7.1 Business Overview
- 8.7.2 Operating Segments
- 8.7.3 Business Strategy
- 8.8 Newmont Corporation
- 8.8.1 Business Overview
- 8.8.2 Operating Segments
- 8.8.3 Business Strategy
- 8.9 Dundee Precious Metals
- 8.9.1 Business Overview
- 8.9.2 Operating Segments
- 8.9.3 Business Strategy
- 8.10 Sumitomo Metal Mining Co., Ltd.
- 8.10.1 Business Overview
- 8.10.2 Operating Segments
- 8.10.3 Business Strategy
- 8.11 ArcelorMittal
- 8.11.1 Business Overview
- 8.11.2 Operating Segments
- 8.11.3 Business Strategy
List of Tables
- Table 1: Global Green Mining Market Players: Recent Developments
List of Figures
- Figure 1: Benefits of Green Mining
- Figure 2: Green Mining Segmentation
- Figure 3: Global Green Mining Market by Value; 2019-2023 (US$ Billion)
- Figure 4: Global Green Mining Market by Value; 2024-2029 (US$ Billion)
- Figure 5: Global Green Mining Market by Mining Type; 2023 (Percentage, %)
- Figure 6: Global Green Mining Market by Technology; 2023 (Percentage, %)
- Figure 7: Global Green Mining Market by Region; 2023 (Percentage, %)
- Figure 8: Global Surface Green Mining Market by Value, 2019-2023 (US$ Billion)
- Figure 9: Global Surface Green Mining Market by Value, 2024-2029 (US$ Billion)
- Figure 10: Global Underground Green Mining Market by Value, 2019-2023 (US$ Billion)
- Figure 11: Global Underground Green Mining Market by Value, 2024-2029 (US$ Billion)
- Figure 12: Global Power Reduction Green Mining Market by Value, 2019-2023 (US$ Billion)
- Figure 13: Global Power Reduction Green Mining Market by Value, 2024-2029 (US$ Billion)
- Figure 14: Global Fuel and Maintenance Reduction Green Mining Market by Value, 2019-2023 (US$ Billion)
- Figure 15: Global Fuel and Maintenance Reduction Green Mining Market by Value, 2024-2029 (US$ Billion)
- Figure 16: Global Toxicity Reduction Green Mining Market by Value, 2019-2023 (US$ Billion)
- Figure 17: Global Toxicity Reduction Green Mining Market by Value, 2024-2029 (US$ Billion)
- Figure 18: Global Emission Reduction Green Mining Market by Value, 2019-2023 (US$ Billion)
- Figure 19: Global Emission Reduction Green Mining Market by Value, 2024-2029 (US$ Billion)
- Figure 20: Global Water Reduction Green Mining Market by Value, 2019-2023 (US$ Billion)
- Figure 21: Global Water Reduction Green Mining Market by Value, 2024-2029 (US$ Billion)
- Figure 22: Asia Pacific Green Mining Market by Value; 2019-2023 (US$ Billion)
- Figure 23: Asia Pacific Green Mining Market by Value; 2024-2029 (US$ Billion)
- Figure 24: Asia Pacific Green Mining Market by Mining Type; 2023 (Percentage, %)
- Figure 25: Asia Pacific Green Mining Market Type by Value, 2023-2029 (US$ Million)
- Figure 26: Asia Pacific Green Mining Market by Technology; 2023 (Percentage, %)
- Figure 27: Asia Pacific Green Mining Market Technology by Value, 2023-2029 (US$ Million)
- Figure 28: Asia Pacific Green Mining Market by Region; 2023 (Percentage, %)
- Figure 29: China Green Mining Market by Value; 2019-2023 (US$ Billion)
- Figure 30: China Green Mining Market by Value; 2024-2029 (US$ Billion)
- Figure 31: India Green Mining Market by Value; 2019-2023 (US$ Million)
- Figure 32: India Green Mining Market by Value; 2024-2029 (US$ Billion)
- Figure 33: Japan Green Mining Market by Value; 2019-2023 (US$ Million)
- Figure 34: Japan Green Mining Market by Value; 2024-2029 (US$ Million)
- Figure 35: South Korea Green Mining Market by Value; 2019-2023 (US$ Million)
- Figure 36: South Korea Green Mining Market by Value; 2024-2029 (US$ Million)
- Figure 37: Rest of Asia Pacific Green Mining Market by Value; 2019-2023 (US$ Million)
- Figure 38: Rest of Asia Pacific Green Mining Market by Value; 2024-2029 (US$ Billion)
- Figure 39: North America Green Mining Market by Value; 2019-2023 (US$ Billion)
- Figure 40: North America Green Mining Market by Value; 2024-2029 (US$ Billion)
- Figure 41: North America Green Mining Market by Mining Type; 2023 (Percentage, %)
- Figure 42: North America Green Mining Market Type by Value, 2023-2029 (US$ Million)
- Figure 43: North America Green Mining Market by Technology; 2023 (Percentage, %)
- Figure 44: North America Green Mining Market Technology by Value, 2023-2029 (US$ Million)
- Figure 45: North America Green Mining Market by Region; 2023 (Percentage, %)
- Figure 46: The US Green Mining Market by Value, 2019-2023 (US$ Billion)
- Figure 47: The US Green Mining Market by Value, 2024-2029 (US$ Billion)
- Figure 48: Canada Green Mining Market by Value, 2019-2023 (US$ Million)
- Figure 49: Canada Green Mining Market by Value, 2024-2029 (US$ Million)
- Figure 50: Mexico Green Mining Market by Value, 2019-2023 (US$ Million)
- Figure 51: Mexico Green Mining Market by Value, 2024-2029 (US$ Million)
- Figure 52: Europe Green Mining Market by Value; 2019-2023 (US$ Billion)
- Figure 53: Europe Green Mining Market by Value; 2024-2029 (US$ Billion)
- Figure 54: Europe Green Mining Market by Mining Type; 2023 (Percentage, %)
- Figure 55: Europe Green Mining Market Mining Type by Value, 2023-2029 (US$ Billion)
- Figure 56: Europe Green Mining Market by Technology; 2023 (Percentage, %)
- Figure 57: Europe Green Mining Market Technology by Value, 2023-2029 (US$ Million)
- Figure 58: Europe Green Mining Market by Region; 2023 (Percentage, %)
- Figure 59: Germany Green Mining Market by Value; 2019-2023 (US$ Million)
- Figure 60: Germany Green Mining Market by Value; 2024-2029 (US$ Million)
- Figure 61: UK Green Mining Market by Value; 2019-2023 (US$ Million)
- Figure 62: UK Green Mining Market by Value; 2024-2029 (US$ Million)
- Figure 63: France Green Mining Market by Value; 2019-2023 (US$ Million)
- Figure 64: France Green Mining Market by Value; 2024-2029 (US$ Million)
- Figure 65: Italy Green Mining Market by Value; 2019-2023 (US$ Million)
- Figure 66: Italy Green Mining Market by Value; 2024-2029 (US$ Million)
- Figure 67: Rest of Europe Green Mining Market by Value; 2019-2023 (US$ Billion)
- Figure 68: Rest of Europe Green Mining Market by Value; 2024-2029 (US$ Billion)
- Figure 69: Rest of the World Green Mining Market by Value; 2019-2023 (US$ Billion)
- Figure 70: Rest of the World Green Mining Market by Value; 2024-2029 (US$ Billion)
- Figure 71: Global Minerals Production; 2016-2021 (Megatons)
- Figure 72: Share of Banks Offering Loans for Green Products in India; 2022 (Percentage, %)
- Figure 73: Global Artificial Intelligence Market Size; 2021-2030 (US $Billion)
- Figure 74: BHP Group Ltd. Revenues by Segments; 2024 (Percentage, %)
- Figure 75: Rio Tinto Revenues by Segments; 2023 (Percentage, %)
- Figure 76: Vale S.A. Revenues by Segments; 2023 (Percentage, %)
- Figure 77: Anglo American Revenues by Segments; 2023 (Percentage, %)
- Figure 78: Glencore Revenues by Segments; 2023 (Percentage, %)
- Figure 79: Tata Steel Revenues by Segments; 2023 (Percentage, %)
- Figure 80: Freeport-McMoRan Inc. Revenues by Segments; 2023 (Percentage, %)
- Figure 81: Newmont Corporation Sales by Segments; 2023 (Percentage, %)
- Figure 82: Dundee Precious Metals Revenues by Segments; 2023 (Percentage, %)
- Figure 83: Sumitomo Metal Mining Co., Ltd. Revenues by Segments; 2023 (Percentage, %)
- Figure 84: ArcelorMittal Sales by Segments; 2023 (Percentage, %)
