ALBANY, New York, Feb. 12, 2020 /PRNewswire/ -- The market study, carried out by Transparency Market Research, projects an impressive growth curve for global marine mining market over the period from 2018 to 2026. According to TMR, the CAGR (Compound Annual Growth Rate) would be a stellar 34.43% and would be owed to a number of growth factors.
TMR claims, "Deep sea mineral exploration projects will be central to the growth of marine mining market owing to a dearth of energy and mineral resources onshore. Besides, population growth is generating significant demand for construction and electronics industry, which will propel global marine mining market forward over the forecast period."
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Key Findings of the Global Marine Mining Market Study
- By application, automobile segment will present tremendous opportunities to players, especially because of growing consumer interest in electric vehicles; demand for platinum, nickel, and copper to remain high owing to demand from this sector
- Internet of Things (IoT) to help market witness improved operating environment – includes digital trailing monitoring to big data analytics, operational safety to predictive maintenance
- Remotely Operated Vehicles (ROV) to contribute significantly to the growth of global marine mining market over the forecast period of 2018 to 2026
Explore 189 pages of top-notch research, incisive insights, and detailed country-level projections. Gain business intelligence on Marine Mining market by Technology: - Remotely Operated Vehicles (ROVs), SONAR, Marine Seismic Methods; Application - Automotive, Precious Metals, Construction, Electronics, Forecast 2018 – 2026 at https://www.transparencymarketresearch.com/marine-mining-market.html
Marine Mining Market: Key Driving Factors
Marine mining is capturing a lucrative space for itself in the mineral extraction space owing to a number of factors. Some of these are growing demand for electronics, buildings, infrastructure, and automobiles. One of the major reasons that is driving demand for these is an increase in the disposable income of people, across the globe. Some of the major factors that will drive global marine mining market, as per Transparency Market Research, over the forecast period are outlined below:
- Population is growing rapidly and as per studies an additional 2 billion people will inhabit earth by 2050 and these people will demand for housing, recreational spaces, infrastructure, means and modes of transportation, and electronics
- As per a market study, construction volumes are set to witness a massive increase by 2030, leading the market to a worth of USD 15.5 trillion over the period
- Increase in demand for automobiles and electronics, owing to growth in incomes, to lead to growth in marine mining in the future
Key Impediments for Marine Mining Market Players
Despite projections of a stellar CAGR over the assessment period, the market would witness certain growth restraints. Some of the major ones that are hampering market growth include the ones outlined below:
- Concerns from environmentalists on a rise: negative impact on aquatic life – flora and fauna – is leading to push from environmentalists against the activity
- The governments across the globe are coming up with strict regulations to mitigate environmental degradation
- Research and Development in the domain to ensure sustainable mining to contribute positively to counteracting the restraining influence
View Detailed Table of Contents at https://www.transparencymarketresearch.com/report-toc/2410
Marine Mining Market: Region-wise Analysis
- Asia Pacific (APAC) is set to dominate the global marine mining market over the period 2018 to 2026 due to rapid industrialization in the region; countries such as China, Japan, and India to stay at the forefront of regional market growth
- Construction and electronics to fuel the growth curve on an upward trajectory in the region; construction volume of India, China, and the United States to account for 57% of overall market growth of the construction volume by 2030; construction volumes to increase by 85% by 2030
Analyze Marine Mining market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study,
According to Transparency Market Research, the global marine mining market is fragmented and players in the market are focused on bringing in innovation to the core of their growth strategy. Besides, care is being extended towards assuaging concerns from environmentalists by focusing on technological advancement.
Some of the renowned names that constitute the vendor landscape of global marine mining market are 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., and China Minmetals Corporation among others. These players are profiled in the report prepared by Transparency Market Research, along with details relating to strategy and way forwards.
Transparency Market Research has segmented the global Marine Mining market study based on technology, application, and region.
Global Marine Mining Market, by Technology
- Remotely Operated Vehicles (ROVs)
- Marine Seismic Methods
Global Marine Mining Market, by Application
- Precious Metals
- Others (including Industrial Machinery and Consumer Goods)
Global Marine Mining Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Papua New Guinea
- Rest of Asia Pacific
- Rest of World
- Saudi Arabia
- Rest of Countries
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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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