Press Release: December 17, 2018
The global support activities for mining market, a part of the mining industry, grew at a compound annual growth rate (CAGR) of around 3.5% during the historic period. The mining industry showed a steady growth. The growth is mainly due the fact that these are the largest markets for mining driving the demand for outsourced supporting companies.
In the forecast period, the global support activities for mining market size is expected to be over $190 billion by 2021, growing at a CAGR of nearly 4%. This is expected due to the stabilization in global metal and copper prices, increased demand for supporting activities by government and private mineral and non-metallic mineral product manufacturers. Furthermore, rising population, increase in dispensable income, and increasing per capita incomes are expected to drive the global support activities for mining market in the future.
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Mining support companies are increasingly opting for 3D modeling technologies which reduce costs of discovery, improves prospecting and facilitates focused exploration. A geological 3D modeling tool provides computerized illustrations of earth crust based on geological and geophysical observations made on earth surface and earth crust.
Major companies in the support activities for mining market, offering 3D technology include CIMIC Group Limited, PT United Tractors Tbk, Downer EDI Mining-Blasting Services Pty Ltd., Barminco Ltd, Boart Longyear Ltd, Major Drilling Group International Inc., Ausdrill Limited, THYSSEN SCHACHTBAU GmbH, Foraco International SA, NRW Holdings Limited.
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