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Underground Mining Market to Reach a Valuation Of ~Us$ 25 Bn By 2027

Underground Mining Market to Reach a Valuation Of ~Us$ 25 Bn By 2027

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Underground Mining Market to Reach a Valuation Of ~Us$ 25 Bn By 2027

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  1. Underground Mining MarketGlobal Industry Analysis, Size, Share, Growth, Trends and Forecast, 2027 ©2019 Transparency Market Research, All Rights Reserved

  2. About Us Transparency Market Research (TMR) is a market intelligence company, providing North America business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. We have an experienced team of Analysts, Researchers, and Consultants, who use proprietary data sources and various tools and techniques to gather and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge. Each TMR Syndicated Research report covers a different sector—such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods, and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With a wider scope and stratified research methodology, our syndicated reports strive to serve clients and satisfy their overall research requirement.

  3. 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 meazthod, 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.

  4. 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 percentage has remained almost unchanged in the last 20 years. Thus, rise in the demand for power is expected to boost the demand for coal in the power industry. This is likely to drive the underground mining market. Coal production in the U.S. increased to 273 million short tons through underground mines in 2017, up from 252 million short tons in 2016. Implementation of IoT in underground mining provides several opportunities to companies to increase their productivity. IoT enables data integration from an increasing number of sources. This enables mining companies to plan their mining operations with accuracy. Companies require skilled professionals with technical skills, high degree of problem-solving, and considerable understanding of such tools and machines to work with technologically-advanced tools and machines. According to a survey by the Associated General Contractors (AGC) of America, Inc., in January 2017, 73% of businesses faced difficulty in finding skilled workers, and 55% businesses identified worker shortage. Thus, dearth of skilled labor is hampering the implementation of smart mining methods. This is adversely affecting the underground mining market. View Report Download Brochure ©2019 Transparency Market Research, All Rights Reserved

  5. Latin America Offers Lucrative Opportunities to Global Underground Mining Market Latin America dominates the global underground mining market. The mining industry in the region has been thriving since the last few years. In 2017, 305 companies invested US$ 2.38Bn for exploration in the region. Chile, Peru, and Mexico received 25%, 22%, and 21% of these investments, respectively, in the year. Favorable government policies and automation of processes in excavation operations are anticipated to drive the underground mining market in Latin America during the forecast period. Currently, Brazil has more than 180 active mines. The most productive underground mines in the country extract up to 1,000,000 tons of minerals every year. Currently, Brazil has two major underground mines: Morro Velho and Serra Grande Gold Mine. Chile is a prominent producer of copper in Latin America. It produces 32% of copper in the world. According to Cochilco, Chile's state copper agency, the country produced its largest volume of copper ever (i.e. 5.83 million tons) in 2018, up by more than 6% of that produced in 2017. ©2019 Transparency Market Research, All Rights Reserved

  6. To know more about us, please visit our website: www.transparencymarketresearch.com For sales queries or new topics email us on: sales@transparencymarketresearch.com For other queries contact:Nachiket Ghumare (Senior Business Development Manager) 90 State Street, Albany NY – 12207, United States Tel: +1-518-618-1030 Email: nachiket@transparencymarketresearch.com T H A N K Y O U

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