Global Marine Mining Market to Grow at a Robust CAGR During Forecast Period

Growing population coupled with depletion of terrestrial deposits to drive global marine mining market during forecast period

According to TechSci Research report, “Global Marine Mining Market By Technology, By Metal, By Region, Competition, Forecast & Opportunities, 2024”, the global marine mining  market is expected to grow at a CAGR of around 30% during the forecast period on account of growing demand for durable goods and precious metals such as gold, silver and platinum. However, rising environmental concerns and stringent government rules associated with seabed exploration are likely to hamper the growth of the market during forecast period.

The global marine mining market is segmented based on technology, metal, region and company. Based on technology, the market can be categorized into Remotely Operated Vehicles [ROVs], SONAR and Marine Seismic Methods. The remotely operated vehicles [ROVs] segment dominates the market owing to their use in ocean exploration studies and for other scientific purposes. Based on metals, the market can be segmented into silver, gold, copper, zinc & others. The gold segmented is expected to witness growth at the highest CAGR during the forecast period, on account of the use of gold in jewellery making, watches, dentistry & medicine, among others.

China Minmetals Corporation, UK Seabed Resources Ltd., Diamond Fields Resources Inc., Keppel Corporation Limited, Nautilus Minerals Inc., Neptune Minerals, Inc, Ocean Minerals, LLC, Soil Machine Dynamics Ltd., Royal IHC, Deep Green Metals Inc., are some of the leading players operating in global marine mining market. Companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.

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“Asia-Pacific is expected to be the largest market in global marine mining market during the forecast period, owing to the increasing demand from the construction, shipbuilding and electronics industry in different countries of the region. Moreover, the bounteous accessibility of gold, copper, and different metals in the seaward islands of Australia is drawing numerous marine mining hardware makers to put resources in the region, thereby further fuelling growth in the market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Marine Mining Market By Technology, By Metal, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global  marine mining market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global marine mining market.

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