Marine Mining Market is Expected to grow at a robust CAGR of 34.72% through 2030F
The
increasing global marine mining market is driven by technological advancements
in deep-sea mining, growing demand for critical metals during the forecast
period 2026-2030F.
According
to TechSci Research report, “Marine
Mining Market – Global Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2030F”, The Global Marine Mining Market was valued at
USD 3.42 Billion in 2024 and is expected to reach USD 20.63 Billion by 2030
with a CAGR of 34.72% during the forecast period. Technological innovation is
playing a pivotal role in the growth of the global marine mining market. The
development of advanced subsea mining equipment has allowed companies to reach
previously inaccessible ocean depths. Robotic mining systems, autonomous
underwater vehicles (AUVs), and remotely operated vehicles (ROVs) are now being
employed to explore and extract mineral deposits from the seabed. These
advancements have improved mining efficiency, safety, and the ability to access
deeper mineral resources, especially polymetallic nodules, sulphides, and
cobalt-rich crusts. As the technology continues to improve, marine mining
operations are expected to become more cost-effective and environmentally
sustainable, enhancing market opportunities. Moreover, technological progress
is driving a reduction in the risks associated with deep-sea mining, as remote
operation capabilities allow for better control and oversight of mining
activities, minimizing human exposure to hazardous conditions.
The
global demand for metals such as copper, nickel, cobalt, and rare earth
elements is surging, primarily driven by the growth of electric vehicles (EVs),
renewable energy technologies, and electronics. These materials are essential
for the production of batteries, wind turbines, and solar panels. As land-based
mining becomes more difficult and less economically viable, marine mining is
increasingly seen as a viable alternative to meet the rising demand for these
critical materials. Polymetallic nodules, which contain nickel, cobalt, copper,
and manganese, are particularly valuable due to their high concentrations of
these materials. The growing reliance on technology that requires these metals
is expected to drive further growth in the marine mining market, as companies
and governments seek new sources to meet the global demand for these resources.
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Global Marine Mining Market"
Based
on metal, silver dominated in the global Marine Mining market in 2024, due to
its high demand in various industries, including electronics, solar energy, and
jewelry. The growing need for silver as a key component in photovoltaic cells,
which are used in solar panels, has spurred interest in sourcing the metal from
marine environments. Marine mining presents an opportunity to tap into untapped
silver resources found in deep-sea hydrothermal vent deposits, which are rich
in silver, along with other precious metals. The expanding solar energy market
is a significant driver, as silver is crucial in enhancing the efficiency of
solar cells. As governments and corporations push for more sustainable energy
solutions, the demand for silver in photovoltaic applications is expected to
rise, creating a market for marine mining operations to extract this metal from
the ocean floor.
Silver’s
application in electronics also continues to grow, as it is used in the
manufacturing of conductive materials for mobile phones, computers, and other
electronic devices. As the global consumption of electronics increases, the
demand for silver as a key component in manufacturing processes rises, further
driving the need for its extraction from marine sources. Additionally, the
technological advancements in marine mining equipment and processes have made
it more feasible to extract silver and other precious metals from the seabed.
This includes the development of remotely operated vehicles (ROVs) and
autonomous underwater vehicles (AUVs), which allow for precise and efficient
mining of deep-sea resources.
Based
on region, Asia Pacific is the fastest growing region in the Global Marine
Mining Market during the forecast period due to several key factors. The region
is home to some of the world's largest economies, including China, Japan, and
India, which are rapidly industrializing and urbanizing. These countries have
an increasing demand for mineral resources such as rare earth elements, cobalt,
and nickel, which are essential for industries like electronics, renewable
energy, and electric vehicles. Asia Pacific has a strategic geographical
advantage, with significant access to the world’s oceans, where a wealth of
untapped marine resources lies. Countries like China, India, and Australia are
investing heavily in marine mining technologies, which enable the extraction of
valuable resources from the ocean floor. These resources are crucial for
supporting the region's robust manufacturing and technology sectors.
government
initiatives and regulations in the region are encouraging the growth of marine
mining. For example, in Australia, which is already a global leader in mineral
production, there is increasing interest in expanding underwater mining
projects to complement traditional mining practices. Additionally, China’s Belt
and Road Initiative is pushing investments in marine exploration and mining,
particularly in areas such as the South China Sea. Environmental concerns and
sustainability are pushing the region toward new mining methods. The growing
focus on reducing the environmental footprint of land-based mining operations
is accelerating the adoption of marine mining as a more sustainable alternative.
Key
market players in the Global Marine Mining market are:
-
- Keppel
Ltd.
- China
Minmetals Corporation
- DFR
Gold Inc.
- IHC
group
- UK
Seabed Resources Ltd.
- Nautilus
Minerals Inc.
- Ocean
Minerals, LLC
- Soil
Machine Dynamics Ltd.
- The
Metals Company
- BHP Group Plc
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“The
global marine mining market presents significant opportunities driven by
increasing demand for rare earth metals, critical minerals, and energy
resources. As industries such as renewable energy, electronics, and electric
vehicles expand, the need for resources like cobalt, nickel, and lithium
sourced from the ocean floor is growing. Technological advancements in remotely
operated vehicles, deep-sea mining, and environmental monitoring create new
prospects for efficient and sustainable resource extraction. Additionally,
governments and private enterprises are investing heavily in marine mining
infrastructure and regulatory frameworks, which further enhances the market's
growth potential across regions, particularly in Asia Pacific and North
America.Top of Form” said Mr.
Karan Chechi, Research Director of TechSci Research, a research-based Global
management consulting firm.
“Marine Mining Market - Global Industry Size,
Share, Trends, Opportunity, and Forecast, Segmented By Technology (Remotely
Operated Vehicles, SONAR, Marine Seismic Methods), By Metal (Silver, Gold,
Copper, Zinc, Others), By Region & Competition, 2020-2030F,” 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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