A recent report published by Infinium Global Research on the marine mining market provides an in-depth analysis of segments and sub-segments in the global as well as regional marine mining market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional marine mining market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global marine mining market. According to the report, the global marine mining market is projected to grow at a CAGR of 34.4% over the forecast period of 2019-2025.
Marine mining is a process that retrieves mineral deposits from the deep sea. The declining terrestrial deposits have increased interest in marine mining. Companies operating in the marine mining market are focusing on strategic collaborations, mergers, and acquisitions that promote a surge in market share. Technological development and its adoption in the mineral mining process encourage innovations.
The growing manufacturing and service industries drive the growth of the marine mining market. The rising industrialization in developing countries contributes to the growth of the marine mining market. Rapidly growing construction and shipbuilding industries stimulate an increase in demand for metals and minerals. The surge in disposable income promotes the growth of the marine mining market. The rising discretionary cash flow and the increasing popularity of strong products stimulate a surge in demand for high mineral contributing to the growth of the marine mining market. The rising demand for durable goods like automobiles and household equipment with high metal or mineral content contributes to the growth of the marine mining market. On the flip side, several environmental issues associated with marine mining such as pollution, destruction of habitat and fauna hampers the growth of the marine mining market. Moreover, the introduction of the Internet of Things solutions in mineral mining create novel opportunities for the growth of the marine mining market.
Based on geography, the global marine mining market is classified into North America, Asia-Pacific, Europe, and the Rest of the World. Asia-Pacific region is expected to hold a premium share in the global marine mining market. The rising construction and electronic sectors in the Asia-Pacific region stimulate the growth of the marine mining market in Asia-Pacific. North America is anticipated to grow in the global marine mining market with a significant CAGR over the forecast period. The rising mining advancements in North America promote the growth of the marine mining market in North America. Europe is showing growth in the global marine mining market.
The report on the global marine mining market covers segments such as technology, and application. On the basis of technology, the sub-markets include sonar, remotely operated vehicles, and marine seismic methods. On the basis of application, the sub-markets include construction, automotive, precious metals, electronics, and other applications.
The report provides profiles of the companies in the market such as Nautilus Minerals Inc., UK Seabed Resources Ltd., Keppel Corporation Limited, Soil Machine Dynamics Ltd., Royal IHC, Ocean Minerals LLC, Diamond Fields Resources Inc., Neptune Minerals PLC, DeepGreen Metals Inc., China Minmetals Corporation, and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of marine mining market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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