Marine Mining Market Size, Share, Trends and Growth Analysis Forecast Report [2030]

Global Marine Mining Market to Showcase Immense Growth Stoked by Increasing Technological Developments; Global Marine Mining Market to Be Positively Affected by Rising Miniaturization of Electronic Devices, says Fortune Business Insights™

Pune,India, Dec. 14, 2023 (GLOBE NEWSWIRE) — Marine Mining Market Size:

The global marine mining market size is anticipated to gain momentum from the rising miniaturization of electronic equipment and devices. It would thus, result in the increasing demand for rare earth elements across the world. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Marine Mining Market Size, Share & Industry Analysis, By Element (Polymetallic Nodules, Polymetallic Sulfides, Cobalt-Rich Ferromanganese Crusts, Others), By Technology (Continuous Line Bucket System (CLB), Hydraulic Suction Systems) and Regional Forecast, 2023-2030.”

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Marine Mining Industry Developments

May 2019: Debmarine Namibia, a leading marine diamond mining company, declared that it is set to build the world’s first-ever custom-built diamond recovery vessel worth USD 468 million. It represents the largest investments in the marine diamond industry. The ship is scheduled to begin operations in 2022 and will become the seventh vessel in the company’s fleet. After completion, it is expected to boost around 35% of the current production and add 500,000 carats annually.

Marine Mining Market Drivers & Restraints –

The report further states that new devices and technologies are persistently being developed to upsurge the standard of living and comfort of the masses. New materials and metals are often required for such developments. Therefore, terrestrial mines are used extensively by mankind to derive several metals. However, the capacity of these mines is limited and they cannot fulfill the future demand. This is where the marine crust comes to the rescue as it contains huge reserves of metals and materials. All these factors would propel the marine mining market growth during the forecast period..

Debmarine to Invest in Custom-built Diamond Recovery Vessel

Companies present in the market are persistently investing huge sums in developing state-of-the-art products. Their main aim is to acquire high marine mining market share and broaden their consumer bases. Below is one of the latest industry developments:

COVID-19 Impact

The COVID-19 pandemic has led to severe repercussion owing to its widespread effects across several economies. Several industries are facing unprecedented losses owing to the lockdown announced by several governments across the globe that has resulted in the complete shutdown of the businesses. The crippling economy, however, is being revived through collective efforts from the government as well as the industries and is expected to bounce back in the coming years.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit:  https://www.fortunebusinessinsights.com/industry-reports/marine-mining-market-101570

What Does This Report Contain?

• In-depth information about the marine mining market trends, growth drivers, barriers, opportunities, and other challenges.
• Elaborate details about the vital sustainability strategies adopted by renowned companies present in the market.
• Competitive landscape consisting of mergers and acquisitions, investments, strategic collaboration, contracts, new product launches, and agreements.
• Analysis of all the segments, including the niche areas.

Marine Mining Market Segmentation

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Marine Mining Market Regional Insights

Ever-increasing Demand for Metals to Favor Growth in Asia Pacific

In terms of region, the market is grouped into the Middle East and Africa, Latin America, North America, Asia Pacific, and Europe. Out of these, in Asia Pacific, the demand for metals is very high in the emerging countries, namely, Vietnam, Australia, and India. In other parts of the world, countries such as Japan, Germany, and the U.S., are showcasing a surge in the automobile manufacturing and aftermarket industry. It would result in the high demand for nickel, copper, and platinum. Besides, several countries are spending huge sums on developing their transport infrastructure. It is likely to augment the marine mining market revenue of many regions. 

Furthermore, the International Seabed Authority, an intergovernmental body based in Jamaica, signed a 15-year contract with 27 contractors to explore cobalt-rich ferromanganese crusts, polymetallic sulfides, and polymetallic nodules in the international seabed area. The selected areas are located in the Pacific Ocean, South Atlantic Ocean, Mid Atlantic Ridge, Mid Atlantic Ridge, and the Clarion Clipperton Fracture Zone. China tops the chart when it comes to bagging the maximum number of licenses for seabed mining. The U.K. stands in the second position

Marine Mining Major Players Profiled in the Report

• Marawa Research and Exploration Ltd.
• De Beers Group
• Federal Institute for Geosciences and Natural Resources of Germany
• China Minmetals Corporation
• China Ocean Mineral Resources Research and Development Association
• Seabed Minerals Authority
• Institut français de recherche pour l’exploitation de la mer
• UK Seabed Resources Ltd.
• Interoceanmetal Joint Organization
• Ocean Mineral Singapore Pte Ltd.
• Gas and Metals National Corporation (JOGMEC)
• Global Sea Mineral Resources NV
• Companhia De Pesquisa de Recursos Minerais
• Tonga Offshore Mining Limited
• China Ocean Mineral Resources Research and Development Association (COMRA)
• Nauru Ocean Resources Inc.
• JSC Yuzhmorgeologiya
• Deep Ocean Resources Development Co. Ltd.
• Japan Oil

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Table of Content:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
•  Key Industry Developments – Merger, Acquisitions, and Partnerships
• Distribution Analysis
•  Porter’s Five Forces Analysis
• PEST Analysis
•  Technological Developments
•  Impact of COVID-19
• Continued…

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