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Global Deep Sea Mining Equipment & Technologies Market to Reach $72.81 billion by 2030: Allied Market Research

Rise in deep sea exploration activities and activities for discovery of metals and mineral deposit drive the growth of the global deep sea mining equipment & technologies market. On the basis of service, the exploration segment is expected to lead the highest market share throughout the forecast period. Based on region, moreover, the market across, Asia-Pacific contributed to the largest share in 2020, and is estimated to lead the trail throughout the forecast period.

Portland, OR, Aug. 23, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global deep sea mining equipment & technologies market garnered $811.9 million in 2020, and is estimated to reach $72.81 billion by 2030, witnessing a CAGR of 61.4% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, key segments, value chain, regional scenario, top investment pockets, and competitive landscape.

Rise in deep sea exploration activities and activities for discovery of metals and mineral deposit drive the growth of the global deep sea mining equipment & technologies market. However, lack of technology and marine safety hinder the market growth. On the other hand, introduction of Internet of Underwater Things (IoUT) create new opportunities in the coming years.

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Covid-19 Scenario:

  • The outbreak of covid-19 negatively impacted the market growth. The restriction on mining activities during lockdown hampered the market.
  • At the same time, the supply chain for exploration equipment was disrupted due to the travel ban. In addition, the manufacturing activities associated with mining equipment were suspended.
  • However, the strict regulations are now eased off and the industry players have started restoring their activities.

The report offers detailed segmentation of the global deep sea mining equipment & technologies market based on type, service, equipment type and region.

Based on type, the polymetallic nodules segment accounted for the largest share in 2020, contributing to more than three-fifths of the total share, and is estimated to maintain its lead position during the forecast period. On the other hand, the cobalt-rich crusts segment is expected to manifest the largest CAGR of 63.8% from 2021 to 2030.

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Based on services, the exploration segment held the highest market share, contributing to 100% of the global deep sea mining equipment & technologies market in 2020, and is projected to continue its leadership status throughout the forecast period. However, the extraction segment is expected to witness the highest CAGR of 78.6% from 2021 to 2030.

Based on region, Asia-Pacific contributed to the largest share in 2020, accounting for nearly three-fifths of the total market, and is estimated to continue its dominance in terms of revenue by 2030. However, North America is expected to portray the fastest CAGR of 83.2% during the forecast period. The report also studies regions across LAMEA and Europe.

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Leading Players:

Leading players of the global deep sea mining equipment & technologies market analyzed in the research include Kongsberg Maritime, Odyssey Marine Exploration, Inc., Robert Bosch GmbH, Saab Seaeye Ltd (Saab AB), SEAS Offshore Pty Ltd., 2H Offshore (Acteon Group Ltd.), Bauer AG, Cellula Robotics Ltd., Deep Reach Technology, Inc., and Soil Machine Dynamics Ltd.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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