Global Underground Mining Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Equipment ;

Drilling Equipment, Loaders & Trucks, Ventilation Systems, Conveyor Systems, Rock Reinforcement Systems and Others.

By Method;

Supported, Unsupported and Caving.

By Operator;

Contract Mining and Owner Mining.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn851452609 Published Date: January, 2025 Updated Date: February, 2025

Introduction

Global Underground Mining Market (USD Million), 2021 - 2031

In the year 2024, the Global Underground Mining Market was valued at USD 22,298.17 million. The size of this market is expected to increase to USD 24,918.68 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 1.6%.

The Global Underground Mining Market serves as a cornerstone of the global mining industry, facilitating the extraction of valuable minerals and resources from beneath the Earth's surface. Underground mining encompasses a wide range of activities conducted in subterranean environments, including coal mines, metal mines, and mineral mines. These operations involve the excavation, extraction, and processing of ores and minerals from underground deposits, often in challenging and hazardous conditions.

With the depletion of easily accessible surface deposits, underground mining has become increasingly vital for meeting the world's growing demand for metals, minerals, and energy resources. Underground mines offer access to deeper, higher-grade deposits that cannot be economically extracted through surface mining methods alone. As a result, the global underground mining market plays a crucial role in supplying essential commodities for various industries, including construction, manufacturing, and infrastructure development.

The underground mining market encompasses a diverse array of mining methods, equipment, and technologies tailored to different geological conditions and operational requirements. These include conventional methods such as room and pillar mining and longwall mining, as well as innovative techniques like block caving and sublevel caving. Advanced technologies such as automation, remote monitoring, and digitalization are also transforming underground mining operations, enhancing efficiency, safety, and sustainability.

Despite facing challenges such as safety risks, environmental concerns, and regulatory constraints, the global underground mining market continues to thrive, driven by technological advancements, rising commodity prices, and growing demand for minerals and metals. As mining companies invest in modernizing their operations and adopting sustainable practices, the underground mining sector is poised for continued growth and innovation, contributing to economic development and resource sustainability on a global scale.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Equipment
    2. Market Snapshot, By Method
    3. Market Snapshot, By Operator
    4. Market Snapshot, By Region
  4. Global Underground Mining Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Increasing demand for metals and minerals
        2. Technological advancements in underground mining methods and equipment
        3. Growing need for resource diversification and security
      2. Restraints
        1. Safety risks and operational challenges associated with underground mining
        2. Environmental concerns and regulatory constraints
        3. High upfront capital investment and operational costs
      3. Opportunities
        1. Expansion of mining activities in emerging markets
        2. Adoption of sustainable mining practices and technologies
        3. Exploration of untapped mineral deposits in remote and deep-sea environments
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Underground Mining Market, By Equipment 2021 - 2031 (USD Million)
      1. Drilling Equipment
      2. Loaders & Trucks
      3. Ventilation Systems
      4. Conveyor Systems
      5. Rock Reinforcement Systems
      6. Others
    2. Global Underground Mining Market, By Method, 2021 - 2031 (USD Million)
      1. Supported
      2. Unsupported
      3. Caving
    3. Global Underground Mining Market, By Operator, 2021 - 2031 (USD Million)
      1. Contract Mining
      2. Owner Mining
    4. Global Underground Mining Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. BHP Group
      2. Rio Tinto
      3. Vale S.A.
      4. Glencore plc
      5. Anglo American plc
      6. Freeport-McMoRan Inc.
      7. Barrick Gold Corporation
      8. Newmont Corporation
      9. China Shenhua Energy Company Limited
      10. South32 Limited
  7. Analyst Views
  8. Future Outlook of the Market