Mining to act as a prerequisite for the growing Construction Industry
The Indian mining market reached US$ 56 billion in 2020 and is estimated to witness a significant growth rate of around 8.5% during the period of 2019-2028. The diversity of the mining sector and the use of metals in various industries is expected to create a significant number of opportunities in the upcoming years.
With an increased focus on infrastructure in the country, many lucrative business opportunities await the mining industry. Moreover, the growing automotive sector and the role of steel and iron in the real estate sector are expected to spur market growth.
However, mining is harmful to the environment and obliges the government to impose restrictions on private mining companies. In addition, the mining industry can boost the economy by creating jobs and meeting the ever-increasing demand for minerals downstream industries like manufacturing and infrastructure, as well as increased fiscal contributions. The country also plans to produce 900 million tons of coal by the end of 2023.
Moreover, the demographic trends in the country will catalyze the demand for automobiles, real estate, etc. further contributing to the growth of the mining sector. Furthermore, the dependence of various countries on the export of iron ore, thermal coal, and coking coal will further skyrocket the growth of the country’s mining market.
Market Structure and Competition Landscape
The Indian mining market is consolidated in nature with the presence of various players competing in the market. Some of the prominent players that contribute significantly to the Indian mining market include Hindalco, Nalco, Tata Steel, Coal India, NMDC Ltd, Gujarat Mineral Development Corporation (GMDC), KIOCL Ltd, and MOIL Ltd, among others.
These players adopt various strategies to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers and acquisitions, product launches, Partnerships, and collaborations are some of the strategies followed by industry players. Some of the key developments in the Indian mining market include,
- In May 2021, Vedanta Ltd. announced its plan to invest INR 10,000 crores (US$ 1.34 billion) in setting up an aluminum park in Odisha to facilitate companies that use metal to set up their manufacturing units in the facility.
- In February 2021, ArcelorMittal-Nippon Steel India, in agreement with the Odisha government, planned to set up an integrated steel plant (with 12 MT capacity) in the state’s Kendrapada district for INR 50,000 crores (US$ 6.89 billion)
Key Market Segmentation
RationalStat has segmented the Indian mining market on the basis of mineral type, minerals/ore, imported minerals, mining type, support services, and region.
- By Mineral Type
- Metallic Minerals
- Non-Metallic Minerals
- By Minerals/Ore
- Iron Ore
- Gold Ore
- Others (Mineral Salts, Metal Ore)
- By Imported Minerals
- By Mining Type
- Underground Mining
- Open Cast Mining
- Green Mining
- By Support Services and Equipment
- Airborne Geophysical Survey
- Resource Modelling
- Mine Planning Software
- Mining Data Analytics
- Fleet Management Systems
- Rapid Mine Survey
- Specialized Mine Infrastructure
- Open Pit Skips
- High Wall Mining
- Mine Control Systems
- Electro Refining
- Cavity Monitoring System
- 3D Laser Scanning And Mapping
- Ground and Aerial Robotic Vehicles
- Geographic Information Systems
- Energy Management and Resource Reconciliation
- Carbon Footprint Management
- By Region
- North India
- West & Central India
- South India
- East India
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
- Annual reports, company filings, investor presentations, product catalogs, and company documents
- Industry and market-related documents available in the public domain
- Paid database including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, and Thomson Reuters, among others
- Whitepapers, research papers, and industry blogs.
Why Buy this Report?
The report is intended for mining companies, dealers, government organizations, market educational organizations, regulatory agencies, and market research firms, among others. The report provides an in-depth analysis of market size, consumption patterns, ongoing market trends and challenges, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights to clients to find the right answers to their business questions.
Frequently Asked Questions (FAQs)
The India Mining Market is expected to grow at a CAGR of approximately 6.5% during the forecast period 2022-2028.
The Indian market for Mining is expected at US$ 127.4 Billion in 2028.
Mining provides the raw material for a host of basic industries such as steel and power, and is therefore the backbone for the manufacturing and infrastructure sectors. As well as the constant support by the government are some of the key trends of the market.
West & Central India is the leading region in the market.
Major companies operating in the India Mining market include Hindalco, Nalco, Tata Steel, Coal India, NMDC Ltd, Parexel International Corporation, Charles River laboratories (MPI Research), and Clinipace Inc, among others.