Global Iron Ore Mining Market By Products & Services (Iron Ore Fines, Iron Ore Pellets & Pellet Feed, Others), Mining Type (Surface Mining, Underground Mining, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Iron Ore Mining Market
Global iron ore mining market is expected to grow with a steady CAGR in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in market value can be attributed to the rising levels of development activities from the Asia-Pacific region resulting in enhanced industrialization.
Market Definition: Global Iron Ore Mining Market
Iron ore mining is the process of extraction of iron mineral from the various mineral deposits and rocks present in mines. The rocks are extracted and undergo the smelting process so that the melted iron can be poured into molds so that various iron-based products are formed. This metal can also be extracted through blast furnaces; firstly concentration of iron ore occurs after which the iron/metal are purified and extracted with the help of blast furnaces.
- High levels or urbanization and industrialization activities globally resulting in requirement of iron for infrastructure engineering activities; this factor is expected to positively drive the growth of the market
- Increasing support from the government in the form of favourable policies and compliances for undertaking or adoption of mining activities; this factor is expected to drive the market growth
- Requirement of significant amounts of capital for mining activities are factors restraining the growth of the market
- Complications and issues towards the environment associated with mining and specifically iron ore mining are factors restraining the growth of the market
Segmentation: Global Iron Ore Mining Market
By Products & Services
- Iron Ore Fines
- Iron Ore Pellets & Pellet Feed
- Iron Ore
- Lump Ore
By Mining Type
- Surface Mining
- Underground Mining
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
Key Developments in the Market:
- In August 2018, MINERAL RESOURCES LIMITED announced that they had completed the acquisition of Cleveland-Cliffs Inc.’s Koolyanobbing iron ore business division along with the assets utilized in that mine. This will enable export and transportation of iron ore from the region and provide significant economic benefits to the region.
- In July 2017, JSW announced that they had purchased a number of iron ore mines in India. The mines located at different regions of Karnataka are expected to increase the annual capacity of iron ore extraction by 4.7 metric tonnes annually. All of the mines are expected to be deemed operational by the end of the fiscal year 2017-18.
Competitive Analysis: Global Iron Ore Mining Market
Global iron ore mining market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of iron ore mining market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Iron Ore Mining Market
Few of the major competitors currently working in iron ore mining market are Rio Tinto; BHP; Vale; Anglo American; Fortescue Metals Group; Indiana Resources; Shree Minerals Ltd.; Mount Gibson Iron; ArcelorMittal; Great Panther Mining Limited; Atlas Iron Pty Ltd; Iron Ore Company of Canada; KIOCL Limited; Cleveland-Cliffs Inc.; GFG Alliance; Eurasian Resources Group; JSW; MINERAL RESOURCES LIMITED; Exxaro; FERREXPO; Ferrous Recursos Limitada; Glencore; IRC Company Limited; LKAB Koncernkontor; Severstal and Sydvaranger.
Research Methodology: Global Iron Ore Mining Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved