- A market worth 10.96 billion USD in 2022
- 27.76 billion USD by 2032
Polaris Market Research has published a brand new report on green mining market share, size, trends, industry analysis report, by type (surface mining and underground mining); By technology; By region; Sector forecast, 2023-2032.
According to the research report, the global green mining market was valued at 10.96 billion USD in 2022 and is expected to reach 27.76 billion USD by 2032, to grow at a compound annual growth rate of 9.8% over the forecast period.
The study provides an overview of the fundamentals and organisational structure of the market and forecasts an increase in market share. It provides a comprehensive analysis of the Green Mining market size, current revenues, regular deliverables, share and profit projections. The study report includes an extensive database of future market forecasts based on a review of previous data.
In recent years, the green mining market has been gaining popularity and developing rapidly due to the increasing penetration and demand for technologies with lower environmental impact and rapid mining capabilities, as well as the growing transition to a low-carbon economy and many government agencies, enacting restrictions and legislation to reduce the carbon footprint while extracting minerals and metals is fuelling the adoption of green mining around the world.
For example, in September 2022, the Biden administration announced the Inflation Reduction Act, which will provide a significant boost to the mining industry in the region. In this legislation, the United States has allocated 369 billion dollars in climate and energy provisions to transition the American economy towards green and sustainable energy. The investment was made with the aim of reducing the country’s greenhouse gas emissions by 40% below 2005 levels by 2030.
For example, according to the International Energy Agency, the number of electric vehicles on the road is expected to reach more than 300 million by 2030, a significant increase on the 16.5 million cars in 2021. In addition, it is estimated that over 60% of new car sales worldwide are electric vehicles.
As a reminder, green mining involves environmentally friendly practices to reduce the harmful environmental impacts of mining activities. Consequently, mining companies are turning to technologies that lead to the reduction of greenhouse gas emissions, the reduction of toxicity and the reduction of water, among others.
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