UNDERGROUND MINING MARKET TO
REACH A VALUATION OF ~US$ 25 BN
Global Underground Mining Market: Key Highlights
The global underground mining market was valued at ~US$ 21.5 Bn in 2018,
and is anticipated to expand at a CAGR of ~2% during the forecast period.
Based on equipment, the drilling equipment segment accounted for a major
share of the global underground mining market in 2018.
In terms of method, the unsupported segment held a significant share of the
global underground mining market in 2018. Room-and-pillar mining is an old
method applied to horizontal or nearly horizontal deposits. This method has been
refined over the years, and is used in coal and non-coal mining.
In terms of operator, the contract mining segment constituted a key share of the
global underground mining market in 2018. Several contractual agreements are
used in contract mining. These can be broadly classified into traditional contracts,
risk sharing contracts, and strategic alliance contracts, depending upon the mine
life or duration of the contract.
Latin America is estimated to offer high growth potential to the underground
mining market in the next few years. Abundance of mineral resources and
significant investments from mining companies are driving the underground
mining market in the region.
Request PDF Brochure:
Key Drivers and Restraints of Global Underground Mining Market
The renewable energy sector is expanding at a significant pace across the globe.
However, it is unable to meet the rising demand for power. This has resulted in a
chasm between the demand for power and its generation, which developing
countries such as China, India, and Indonesia are striving to meet through coal-
based generation. This is driving the use of coal in power generation
applications. According to the World Coal Association, coal accounted for
approximately 38% share of the total electricity generated in 2018. This