The mining industry creates the raw materials that make up the technologies powering the energy transition. For example, every megawatt of solar PV requires four metric tons of copper to build. Estimates for the mining industry’s energy use range from 1.25% to 11% of global energy consumption. Mining renewable energy systems are clean sources of power generation that are used for mining at locations, situated in off-grid areas. Mines are located at remote areas where the connection to power grids is not possible.
The mining renewable energy systems market, in terms of revenue, which was estimated at USD 2,732.9 million in 2018, is expected to reach USD 3,864.3 million in 2023.
Global Mining Renewable Energy Systems Market analyzes on key Mining Renewable Energy Systems manufacturers and study the capacity, production, value, market share and development plans for next few years. The energy needed to operate heavy machineries are generated on-site using non-renewable fossil fuels such as diesel. The cost of generating electricity is very high due to the fluctuating prices of fuels. Thus, the mining industry is witnessing a shift towards renewable energy sources such as wind and solar energy.
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Top Key Players
Tommy Hilfiger, V.F. Corporation, Jacques Moret Inc., Hugo Boss AG, Banana Republic, Jockey International, Ralph Lauren Corporation, America Corporation, Reebok, Adidas, Nike, Puma, and Levi Strauss & Co.
Asia Pacific is estimated to be the fastest growing region in mining renewable energy systems market. Asia Pacific being a major supplier of mined products. The region collectively produces over half of the world’s iron ore, more than 70% of copper, nickel, silver, lead, zinc, bauxite and tin, and more than 90% of coal and molybdenum. The solar segment is expected to be the most attractive segment of the global mining renewable energy systems market.
Solar is a source of decentralized energy which makes it suitable for mining applications. It provides clean energy by reducing the greenhouse gas emissions. As the majority of the key players are aware of its benefits, the demand is expected to increase in the coming years. It also focuses on the global key manufacturers, to define, describe and analyze the market competition landscape, and SWOT analysis. It also defines, describe and forecast the market by various types, applications and by regions.
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The study was performed using an independent combination of primary and secondary data. Primary sources are principally the industry experts from the main and related industries, manufacturers, suppliers, organizations, service providers, and distributors associated with all segments of the supply chain of the market.
In the end, the report includes Mining Renewable Energy Systems market opportunities and the competitive aspect for shareholders and Mining Renewable Energy Systems market leaders.
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