PUBLISHER: Value Market Research | PRODUCT CODE: 1547436
PUBLISHER: Value Market Research | PRODUCT CODE: 1547436
The global demand for Marine Mining Market is presumed to reach the market size of nearly USD 3.47 Billion by 2032 from USD 2.27 Billion in 2023 with a CAGR of 4.85% under the study period 2024-2032.
Marine mining is the practice of exploring and extracting mineral resources from the deep sea, about 200 m below the seabed or more. Based on the element, marine mining is broadly categorized into polymetallic sulfides, polymetallic nodules, and cobalt-rich ferromanganese crusts. Seas and oceans are a vast source of valuable base metals like copper, zinc, cobalt, manganese, gold, and silver, which find application in various industries such as construction, shipbuilding, electronics, and automobile. Terrestrial mines are gradually depleting and may fail to meet future requirements. In contrast, marine mines are yet to be explored and have the potential to meet the increasing needs of human beings.
The limited capacity of terrestrial mines, exhaustion of onshore energy reserves, increasing demand for metals used in manufacturing hi-tech devices, and green technologies are key factors driving the marine mining market. Other factors such as rapid population growth, the surge in disposable income, and increasing demand for heavy-duty goods like household tools and automobiles having high metal content will positively impact the marine mining market. Furthermore, the companies are coming up with advanced technologies like SONAR, seabed vacuums, and ROVs. However, marine mining may jeopardize marine ecosystems and pollute the environment with heavy metal-laden smoke, and the cost of marine mining is high. These factors may hamper the marine mining market growth.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of Marine Mining. The growth and trends of Marine Mining industry provide a holistic approach to this study.
This section of the Marine Mining market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Marine Mining market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Marine Mining market include Nautilus Minerals Inc., Neptune Minerals, UK Seabed Resources, Keppel Corporation Limited, Soil Machine Dynamics Ltd, Royal IHC, Ocean Minerals LLC, Diamond Fields Resources Inc., DeepGreen Metals Inc., China Minmetals Corporation. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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