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Global Mining Renewable Energy Systems Market to Witness Impressive Growth, Revenue to Surge to USD 5100 Million By 2028

Mining Renewable Energy Systems Market - Global Industry Analysis

Mining Renewable Energy Systems Market By Source Type (Wind, Biomass, Biofuel, Solar, And Geothermal): Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends And Forecast, 2020 – 2028

Published Date: 30-Jul-2021 Category: Energy & Mining Report Format : PDF Pages: 150 Report Code: ZMR-2638 Status : Published

The Global Mining Renewable Energy Systems Market was accounted for USD 3366.7 Million in 2020 and is expected to reach USD 5100 Million by 2028, growing at a CAGR of around 5.2% between 2021 and 2028.

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Description

Market Overview

Mining renewable energy systems are clean sources of power generation utilized in mining sites, especially for off-grid locations. These sources include wind, solar, biomass, and geothermal among others. The quantity of energy per unit is increasing, then are electricity and diesel prices, whereas the costs for renewable energy, wind and solar, are falling considerably during a previous couple of years. Hence, mining companies are taking interest in renewable energy systems to integrate them into their mining activities.

In mining, solar or wind systems are combined with or integrated into existing diesel power plants. Wind and solar power are approximately 70% less costly than electricity from diesel, especially in remote areas where transport makes up an outsized share of the entire diesel cost. Solar and wind energy prices have reduced considerably in recent years. The solar module process has fallen by almost 30% within the recent past and turbine towers became taller, which allows for efficient power generation in many locations where the wind isn't strong enough at lower altitudes. Hence, renewable energy systems in mining are considered a reliable option and are attracting many institutional investors like pension funds, that value secure investments and accept comparatively low returns.

Many companies don't have the resources and capital to finance new renewable energy projects. Solar and wind projects require high capital investment and offer very limited operating costs, whereas electricity generation with diesel engines requires very low investment costs and offers high operating costs thus limiting the expansion of the market.

COVID-19 Impact Analysis

The global mining renewable energy system market has witnessed a slight decline in the sales for short term due to the lockdown enforcement introduced by governments to contain COVID spreading. The restrictions imposed by various nations to contain COVID had stopped the production resulting in disruption across the whole supply chain. However, the global markets are slowly opening to their full potential, and theirs a surge in demand.

Growth Factors

The price of electricity generation through conventional sources like diesel gen-sets is generally high which subsequently increases the operational cost of mining. However, renewable energy may be a favorable add-on to diesel gensets which comparatively reduces the operational cost of the mining process. The prominent market players maintain the competitive edge in the global market by making investments in mergers and acquisitions and by increasing their product portfolio. In March 2017, Newmont Mining Corporation launched a Lifecycle of a Mine, an interactive microsite that features the activities and processes that make up each stage of the life of a modern-day gold mine.

Report Scope:

Report Attribute	Details
Base Year	2020
Historic Years	2016 - 2020
Forecast Years	2021 - 2028
Segments Covered	By Product Type, By Application, and By End Use
Forecast Units	Value (USD Billion), and Volume (Units)
Quantitative Units	Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered	North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered	U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered	10 companies with scope for including additional 15 companies upon request
Report Coverage	Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope	Avail customized purchase options to meet your exact research needs.

Source Type Segment Analysis Preview

Based on source type, the solar segment is expected to be the most attractive segment of the global mining renewable energy systems market. As solar energy is being used by several industrial sectors it contributed a major share of over USD 960 million in 2017. Moreover, the presence of a significant number of mines in the tropical regions is another factor fueling the demand for solar energy in mining operations.

Regional Segment Analysis Preview

The Asia Pacific is predicted to be the foremost attractive region for the mining renewable energy systems market. The Asia Pacific may be a crucial supplier of mined products. The region collectively produces over half the world’s ore, quite 70% of copper, nickel, silver, lead, zinc, bauxite, and tin, and quite 90% of coal and molybdenum. The mining industry contributes approximately 25% to the entire Asia Pacific economies. The governments within the region are encouraging the adoption of favorable practices in mining to market sustainable growth.

Key Market Players & Competitive Landscape

The global mining renewable energy systems market report profiles some of the leading players in the market and analyzes their key strategies. The major players in the market are Bluhm Burton Engineering Pty Ltd (BBE), Barrick Gold Corporation, Black & Veatch Holding Company, Cambridge Energy Partners, Conergy, Cronimet Holding GmbH., Downer Group, Enel Green Power, General Electric, Hanwha Group, Juwi AG, Newmont Mining Corporation, Nuance Energy Group, Inc., Pöyry Plc., Siemens AG, SolarReserve, LLC, Vergnet and ViZn Energy Systems amongst others.

The global Mining Renewable Energy Systems Market is segmented as follows:

By Source Type

Wind
Biomass
Biofuel
Solar
Geothermal

By Region

North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa

Table Of Content

Chapter No. 1: Introduction
- 1.1. Report Description
  - 1.1.1. Purpose of the Report
  - 1.1.2. USP & Key Offerings
- 1.2. Key Benefits for Stakehulders
- 1.3. Target Audience
- 1.4. Report Scope
Chapter No. 2: Executive Summary
- 2.1. Key Findings
  - 2.1.1. Top Investment Pockets
    - 2.1.1.1. Market Attractiveness Analysis, By Source Type
    - 2.1.1.2. Market Attractiveness Analysis, By Region
- 2.2. Market Snapshot
- 2.3. Global Mining Renewable Energy Systems Market , 2016 – 2028 (USD Million)
- 2.4. Insights from Primary Respondents
Chapter No. 3: COVID 19 Impact Analysis
- 3.1. Impact Assessment of COVID-19 Pandemic, By Region
  - 3.1.1. North America
  - 3.1.2. Europe
  - 3.1.3. Asia Pacific
  - 3.1.4. Latin America
  - 3.1.5. The Middle-East and Africa
- 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
- 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
- 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
- 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
  - 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
- 3.6. Short Term Dynamics
- 3.7. Long Term Dynamics
Chapter No. 4: Mining Renewable Energy Systems Market – Source Type Segment Analysis
- 4.1. Overview
  - 4.1.1. Market Revenue Share, By Source Type, 2020 & 2028
- 4.2. Wind
  - 4.2.1. Market Size and Forecast, By Region (USD Million)
  - 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
  - 4.2.3. Key Market Trends, Growth Factors, & Opportunities
- 4.3. Biomass
  - 4.3.1. Market Size and Forecast, By Region (USD Million)
  - 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
  - 4.3.3. Key Market Trends, Growth Factors, & Opp`ortunities
- 4.4. Biofuel
  - 4.4.1. Market Size and Forecast, By Region (USD Million)
  - 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
  - 4.4.3. Key Market Trends, Growth Factors, & Opportunities
- 4.5. Sular
  - 4.5.1. Market Size and Forecast, By Region (USD Million)
  - 4.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
  - 4.5.3. Key Market Trends, Growth Factors, & Opportunities
- 4.6. Geothermal
  - 4.6.1. Market Size and Forecast, By Region (USD Million)
  - 4.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
  - 4.6.3. Key Market Trends, Growth Factors, & Opportunities
Chapter No. 5: Mining Renewable Energy Systems Market – Region Segment Analysis
- 5.1. Overview
  - 5.1.1. Global Market Revenue Share, By Region, 2020 & 2028
  - 5.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Million)
- 5.2. North America
  - 5.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Million)
  - 5.2.2. North America Market Revenue, By Service, 2016 – 2028
  - 5.2.5. U.S.
    - 5.2.5.1. U.S. Market Revenue, By Service, 2016 – 2028
  - 5.2.6. Canada
    - 5.2.6.1. Canada Market Revenue, By Service, 2016 – 2028
  - 5.2.7. Mexico
    - 5.2.7.1. Mexico Market Revenue, By Service, 2016 – 2028
- 5.3. Europe
  - 5.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Million)
  - 5.3.2. Europe Market Revenue, By Service, 2016 – 2028
  - 5.3.5. Germany
    - 5.3.5.1. Germany Market Revenue, By Service, 2016 – 2028
  - 5.3.6. France
    - 5.3.6.1. France Market Revenue, By Service, 2016 – 2028
  - 5.3.7. U.K.
    - 5.3.7.1. U.K. Market Revenue, By Service, 2016 – 2028
  - 5.3.8. Italy
    - 5.3.8.1. Italy Market Revenue, By Service, 2016 – 2028
  - 5.3.9. Spain
    - 5.3.9.1. Spain Market Revenue, By Service, 2016 – 2028
  - 5.3.10. Rest of Europe
    - 5.3.10.1. Rest of Europe Market Revenue, By Service, 2016 – 2028
- 5.4. Asia Pacific
  - 5.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Million)
  - 5.4.2. Asia Pacific Market Revenue, By Service, 2016 – 2028
  - 5.4.5. China
    - 5.4.5.1. China Market Revenue, By Service, 2016 – 2028
  - 5.4.6. Japan
    - 5.4.6.1. Japan Market Revenue, By Service, 2016 – 2028
  - 5.4.7. India
    - 5.4.7.1. India Market Revenue, By Service, 2016 – 2028
  - 5.4.8. South Korea
    - 5.4.8.1. South Korea Market Revenue, By Service, 2016 – 2028
  - 5.4.9. South-East Asia
    - 5.4.9.1. South-East Asia Market Revenue, By Service, 2016 – 2028
  - 5.4.10. Rest of Asia Pacific
    - 5.4.10.1. Rest of Asia Pacific Market Revenue, By Service, 2016 – 2028
- 5.5. Latin America
  - 5.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Million)
  - 5.5.2. Latin America Market Revenue, By Service, 2016 – 2028
  - 5.5.5. Brazil
    - 5.5.5.1. Brazil Market Revenue, By Service, 2016 – 2028
  - 5.5.6. Argentina
    - 5.5.6.1. Argentina Market Revenue, By Service, 2016 – 2028
  - 5.5.7. Rest of Latin America
    - 5.5.7.2. Rest of Latin America Market Revenue, By Service, 2016 – 20285
- 5.6. The Middle-East and Africa
  - 5.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Million)
  - 5.6.2. The Middle-East and Africa Market Revenue, By Service, 2016 – 2028
  - 5.6.5. GCC Countries
    - 5.6.5.1. GCC Countries Market Revenue, By Service, 2016 – 2028
  - 5.6.6. South Africa
    - 5.6.6.1. South Africa Market Revenue, By Service, 2016 – 2028
  - 5.6.7. Rest of Middle-East Africa
    - 5.6.7.1. Rest of Middle-East Africa Market Revenue, By Service, 2016 – 2028
Chapter No. 6: Mining Renewable Energy Systems Market – Industry Analysis
- 6.1. Introduction
- 6.2. Market Drivers
  - 6.2.1. Driving Factor 1 Analysis
  - 6.2.2. Driving Factor 2 Analysis
- 6.3. Market Restraints
  - 6.3.1. Restraining Factor Analysis
- 6.4. Market Opportunities
  - 6.4.1. Market Opportunity Analysis
- 6.5. Porter’s Five Forces Analysis
- 6.6. PEST Analysis
- 6.7. Regulatory Landscape
- 6.8. Technulogy Landscape
- 6.9. Regional Market Trends
  - 6.9.1. North America
  - 6.9.2. Europe
  - 6.9.3. Asia Pacific
  - 6.9.4. Latin America
  - 6.9.5. The Middle-East and Africa
- 6.10. Pricing Analysis
- 6.11. Value Chain Analysis
- 6.12. Downstream Buyers
- 6.13. Distributors/Traders List
Chapter No. 7: Competitive Landscape
- 7.1. Company Market Share Analysis – 2019
  - 7.1.1. Global Mining Renewable Energy Systems Market : Company Market Share, 2019
  - 7.1.2. Global Mining Renewable Energy Systems Market , Company Market Revenue, 2016 – 2019 (USD Million)
  - 7.1.3. Global Mining Renewable Energy Systems Market , Company Y-o-Y Growth, 2017 – 2028 (%)
  - 7.1.4. Global Mining Renewable Energy Systems Market : Radar Determinant Chart, 2019
- 7.2. Strategic Developments
  - 7.2.1. Acquisitions & Mergers
  - 7.2.2. New Product Launch
  - 7.2.3. Regional Expansion
- 7.3. Company Strategic Developments – Heat Map Analysis
Chapter No. 8: Company Profiles
- 8.1. Bluhm Burton Engineering Pty Ltd (BBE)
  - 8.1.1. Company Overview
  - 8.1.2. Key Executives
  - 8.1.3. Product Portfulio
  - 8.1.4. Financial Overview
  - 8.1.5. Operating Business Segments
  - 8.1.6. Business Performance
  - 8.1.7. Recent Developments
- 8.2. Barrick Guld Corporation
- 8.3. Black & Veatch Hulding Company
- 8.4. Cambridge Energy Partners
- 8.5. Conergy
- 8.6. Cronimet Hulding GmbH.
- 8.7. Downer Group
- 8.8. Enel Green Power
- 8.9. General Electric
- 8.10. Hanwha Group
Chapter No. 9: Marketing Strategy Analysis
- 9.1. Marketing Channel
- 9.2. Direct Marketing
- 9.3. Indirect Marketing
- 9.4. Marketing Channel Development Trends
- 9.5. Economic/Pulitical Environmental Change
Chapter No. 10: Research Methodulogy
- 10.1. Research Methodulogy
- 10.2. Phase I - Secondary Research
- 10.3. Phase II - Data Modeling
  - 10.3.1. Company Share Analysis Model
  - 10.3.2. Revenue Based Modeling
- 10.4. Phase III - Primary Research
- 10.5. Research Limitations
  - 10.5.1. Assumptions

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Mining Renewable Energy Systems market. Zion Market Research has collected and analyzed key data belong to the global Mining Renewable Energy Systems market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Mining Renewable Energy Systems across the world has been calculated through primary and secondary research.

Zion Market Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.

For this study, Zion Market Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Mining Renewable Energy Systems industry. Primary research makes up the major source of data collection and validation.

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
Helps in validating and strengthening the secondary research findings
Further, develops the analysis team’s expertise and market understanding
Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment, and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
Purchasing managers, technical personnel, distributors and resellers
Outside experts: Investment bankers, valuation experts, and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
IDC and other relevant magazines
Internal and external proprietary databases, and relevant patent and regulatory databases
National government documents, statistical databases, and market reports

News articles, press releases, and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Mining Renewable Energy Systems market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

Demographic data: Population split into segments
Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
Industry indicators: Expenditure, technology stage, and infrastructure, sector growth and facilities
Data is then cross-checked by an expert panel.

Frequently Asked Questions

What was the value of the global Mining Renewable Energy Systems Market in 2020?

The global Mining Renewable Energy Systems Market was valued at USD 3366.7 Million in 2020.

What will be the size of the global Mining Renewable Energy Systems Market in 2028?

The global Mining Renewable Energy Systems Market is expected to reach USD 5100 Million by 2028, growing at a CAGR of 5.2% between 2021 to 2028.

What are the key factors driving the global Mining Renewable Energy Systems Market growth?

Some of the key factors driving the global Mining Renewable Energy Systems Market growth are rapid urbanization, increasing electricity cost, and government subsidies.

Which region will make notable contributions in the global Mining Renewable Energy Systems Market?

APAC region held a substantial share of the Mining Renewable Energy Systems Market in 2020.

Who are the major companies operating in the global Mining Renewable Energy Systems Market ?

The major players in the market are Bluhm Burton Engineering Pty Ltd (BBE), Barrick Gold Corporation, Black & Veatch Holding Company, Cambridge Energy Partners, Conergy, Cronimet Holding GmbH., Downer Group, Enel Green Power, General Electric, Hanwha Group, Juwi AG, Newmont Mining Corporation, Nuance Energy Group, Inc., Pöyry Plc., Siemens AG, SolarReserve, LLC, Vergnet and ViZn Energy Systems amongst others.