Marine Mining - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Marine Mining market is accounted for $1.00 billion in 2019 and is expected to reach $9.31 billion by 2027 growing at a CAGR of 32.1% during the forecast period. Some of the key factors propelling the market growth include developments in deep sea mineral exploration projects, rising population coupled with depleting terrestrial deposits, increasing shipbuilding and construction industries, and growing demand for metal products. However, environmental issues are restraining the market growth.
By technology, the remotely worked vehicles (ROVs) segment is projected to grow at the significant rate during the forecast period. ROVs are empty, profoundly flexibility submerged robots worked by somebody at the outside of the water. They are otherwise called submerged automatons, explicitly planned and created to mention submerged objective fact simple and reasonable. ROVs are utilized in different applications. The vast majority of these are utilized for logical purposes. They have ended up being incredibly profitable in sea investigation.
On the basis of geography, The Asia Pacific region is expected to have considerable market growth during the forecast period, due to the robust infrastructural development in the region is creating a growing demand for metals and rapidly increasing transportation infrastructure. Economies in the Asia Pacific are moving to marine mining to meet the rising demand from end-users and various industries. Companies are having some collaboration for marine mining in this region.
Some of the key players in marine mining market include DeepGreen Metals Inc., Neptune Minerals, Keppel Corporation Limited, UK Seabed Resources, Ocean Minerals, LLC, Royal IHC, Nautilus Minerals Inc., Soil Machine Dynamics Ltd, Korea Institute of Ocean Science and Technology, China Minmetals Corporation, Diamond Fields Resources Inc, Seabed Minerals Authority, Tonga Oshore Mining Limited, Global Sea Mineral Resources NV, Nauru Ocean Resources Inc., Marawa Research and Exploration Ltd., JSC Yuzhmorgeologiya, Deep Ocean Resources Development Co. Ltd., and Japan Oil, Gas and Metals National Corporation (JOGMEC).
• Remotely Operated Vehicles (ROVs)
• Marine Seismic Methods
• Sound Navigation Ranging (SONAR)
• Hydraulic Suction System
• Continuous Line Bucket System (CLB)
• Precious Metals
• Commercial Use
• Residential Use
• Academic Use
• Other Applications
• Average Depth: 4,000 – 6,000 m
• Average Depth: 1,400 – 3,700 m
• Average Depth: 800 – 2,400 m
• Polymetallic Suldes
• Cobalt-Rich Ferromanganese Crusts
• Polymetallic Nodules
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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