Global marine mining market is expected to grow at a CAGR of 30% during the forecast period. Marine mining or remote ocean mining is the process of retrieving mineral deposits from the sea and the area of the ocean below 200 meters.
Rise in industrialization, growing disposable income and increase in demand for durable goods such as automobiles and household equipment with high mineral or metal content are projected to propel the growth of global marine mining market. Additionally, the increasing adoption of precious metals and metal nanoparticles such as nickel, gold, and platinum in several industrial segments further drives the market. Moreover, the revived importance of phosphorous based artificial fertilizers is further influencing the phosphorus nodule mining, which in turn has direct implications on the global marine mining market.
The Global Marine Mining market is segmented based on technology, metal, region and company. Based on technology, the market can be segmented into Remotely Operated Vehicles [ROVs], SONAR, Marine Seismic Methods. The Remotely Operated Vehicles [ROVs] segment dominates the market owing to their use in ocean exploration and other scientific purposes. Based on metals, the market can be fragmented into Silver, Gold, Copper, Zinc & Others. The Gold segment is projected to dominate the market on account of its widespread use in jewellery, watches, medals & statues, electronics & computers, dentistry & medicine, among others.
Regionally, the Marine Mining market is gaining traction and expanding to various regions including Asia-Pacific, North America, South America, Europe, and Middle East & Africa. Among these regions, Asia Pacific region is expected to dominate the overall Marine Mining market followed by North America, Europe, South America and Middle East and Africa.
The major players operating in the Marine Mining market are 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. and others. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. For instance, In March 2018, Nautilus Minerals Inc. announced it had launched its production support vessel at the Mawei shipyard in China. The vessel is expected to be used by Nautilus Minerals Inc. and its partner, Eda Kopa Limited, at the Solwara 1 Project site in the Bismarck Sea of Papua New Guinea.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024
Objective of the Study:
- To analyze and forecast the market size of global marine mining market.
- To classify and forecast global marine mining market based on technology, metal, company and regional distribution.
- To identify drivers and challenges for global marine mining market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global marine mining market.
- To conduct pricing analysis for global marine mining market.
- To identify and analyze the profile of leading players operating in global marine mining market.
Some of the leading players in global marine mining market are 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. and others.
Our report performed both primary as well as exhaustive secondary research for this study. Initially, the report sourced a list of major players operating across the globe. Subsequently, the report conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the report could include the companies which could not be identified due to the limitations of secondary research. the report analyzed the companies, distribution channels and presence of all major players across the globe.
The report calculated the market size of global marine mining market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. the report sourced these values from the industry experts and company representatives and externally validated through analyzing historical data for extracting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the report.
Key Target Audience:
- Marine mining service providers
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to marine mining
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global Marine Mining market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Remotely Operated Vehicles [ROVs]
- Marine Seismic Methods
- North America
- United States
- United Kingdom
- South Korea
- Middle East & Africa
- South Africa
- Saudi Arabia
- South America
Company Profiles: Detailed analysis of the major companies present in global Marine Mining market.
With the given market data, the report offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Company Information
- Detailed analysis and profiling of additional market players (up to five).