Asia Pacific Accounts For 69% Of The Dimension Stone Mining Market; Granite Accounts For The Largest Segment
Segments covered: By Type – Marble, Granite, Limestone, Sandstone, Others
LONDON, May 19, 2021 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the dimension stone mining market, granite is the largest segment of the dimension stone mining market segmented by type, accounting for 34.8% of the total in 2020. The other segments by type are marble, limestone, sandstone, and others. Going forward, others segment is expected to be the fastest growing segment in the dimension stone mining market at a CAGR of 10.6% during 2020-2025.
Asia Pacific is the largest region in the dimension stone mining market accounting for 69.0% of the total in 2020. It was followed by Western Europe, and then the other regions. Going forward, the fastest-growing regions in the dimension stone mining market will be Africa, and North America, where growth will be at CAGRs of 14.8% and 11.4% respectively. These will be followed by Middle East and Eastern Europe where the markets are expected to grow at CAGRs of 8.8% and 7.0% respectively.
The dimension stone mining market reached a value of nearly $5,422.6 million in 2020, having increased at a compound annual growth rate (CAGR) of 0.5% % since 2015. This natural stone market size is expected to grow from $5,422.6 million in 2020 to $7,611.5 million in 2025 at a rate of 7.0%. Global dimension stone market growth is then expected to be at a CAGR of 5.0% from 2025 and reach $9,734.7 million in 2030.
The Business Research Company’s report titled Dimension Stone Mining Global Market Report 2021 covers major dimension stone mining companies, dimension stone mining market share by company, dimension stone mining manufacturers, dimension stone mining market size, and dimension stone mining market forecasts. The report also covers the global dimension stone mining market and its segments.
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Natural stone market trends include upgraded and innovative technologies. The use of robots in the dimension stone mining industry is improving the efficiency and productivity of stone mines, and it also reduces operational costs. Robotics is significantly increasing mining capabilities by rolling out autonomous trucks and drills, thus reducing the need for the human workforce. Robots are used in some critical mining activities such as drilling, blasting explosives in the mines, and guiding and driving off-highway haul trucks operating in mines. For instance, companies such as Atlas, Rio Tinto, Sandvik, Komatsu, and Caterpillar are using robotic rock-drilling rigs for the autonomous operation of their mines.
Precision surface excavation machines are becoming more popular as well because they help to reduce noise and pollution in sensitive areas. Precision surface excavation machines are versatile units that utilize a slicing drum to mechanically unearth materials and have advantages over the customary drilling and blasting strategies. Surface excavation machines are low in noise, dust, and vibration and can cut more precisely and produce a smaller, more consistent particle size, thus eliminating the need for a primary crusher. This is particularly important in mines in environmentally sensitive areas where noise and dirt pollution need to be minimized due to environmental regulation and pressure. For instance, Vermeer Corporation is the biggest provider of surface excavation machines globally.
Market-trend-based strategies for the dimension stone mining market, therefore, include employing precision surface excavation machines to carry out smoother operations in environmentally regulated areas, investment in robotics to improve mining productivity and prevent mining accidents. There is also a need to invest in cognitive computing to improve the efficiency of mining operations, investing in renewable energy capacities to reduce carbon emissions from mining zones and ultimately drive down their energy costs, and the usage of 3D mine visualizers to identify difficult terrains and enhance productivity. Improved technology from the point of planning to the actual excavations are bringing a huge change in the industry.
Dimension Stone Mining Global Market Report 2021 is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments, and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives an in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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