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Increasing Infrastructure Investment Generates Demand In The Stone Mining And Quarrying Market

Stone Mining And Quarrying Global Market 2021 - Opportunities And Strategies – Global Forecast To 2030

Stone Mining And Quarrying Market 2021 - Opportunities And Strategies – Global Forecast To 2030

The Business Research Company’s Stone Mining And Quarrying Market 2021 - Opportunities And Strategies – Global Forecast To 2030

LONDON, GREATER LONDON, UK, November 24, 2021 /EINPresswire.com/ -- The surge in capital expenditure on infrastructure development is projected to propel the revenue for the stone mining and quarrying market over the forecast period. Growth in capital expenditure on infrastructure is led by the growing population, rapid urbanization, strong economic growth, and migration of people toward urban areas. For instance, according to the Global Infrastructure Outlook, which forecasts infrastructure investment needs across 50 countries and seven sectors to 2040, the global population is expected to grow by almost 2 billion people or a 25% increase and around 46% of the global population will migrate from rural to urban areas by 2040, triggering massive demand for infrastructure support. Moreover, the outlook forecasts that the global infrastructure investments need to reach $94 trillion by the end of 2040, to keep pace with demographic and economic changes worldwide. The increasing expenditure on infrastructure is likely to generate higher demand for stone materials in the buildings & construction industry, which in turn is expected to contribute to the market growth.

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The global stone mining and quarrying market size reached a value of nearly $8.06 billion in 2020, having increased at a compound annual growth rate (CAGR) of 1.2% since 2015. The market is expected to grow from $8.06 billion in 2020 to $11.15 billion in 2025 at a rate of 6.7%. The market is then expected to grow at a CAGR of 5.1% from 2025 and reach $14.32 billion in 2030.

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Major players covered in the global stone mining and quarrying industry are Vulcan Materials Company, CRH, Martin Marietta Materials Inc., Lafarge Holcim, Heidelberg Cement AG.

Asia Pacific was the largest region in the global stone mining and quarrying market, accounting for 58.5% of the total in 2020. It was followed by Western Europe, North America and then the other regions. Going forward, the fastest-growing regions in the stone mining and quarrying market will be Africa and North America, where growth will be at CAGRs of 14.5% and 8.2% respectively. These will be followed by South America and Middle East where the markets are expected to grow at CAGRs of 7.5% and 7.3% respectively.

TBRC’s global stone mining and quarrying market report is segmented by type into dimension stone mining, crushed stone mining, by organization size into large enterprises, small and medium enterprises.

The large enterprises market was the largest segment of the stone mining and quarrying market segmented by organization size, accounting for 74.2% of the total in 2020. Going forward, the small and medium enterprises segment is expected to be the fastest growing segment in the stone mining market segmented by organization size, at a CAGR of 7.6% during 2020-2025.

Stone Mining And Quarrying Market 2021 - By Type (Dimension Stone Mining (Dimension Stones), Crushed Stone Mining (Crushed Stones)), By Organization Size (Large Enterprises, Small & Medium Enterprises) And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides stone mining and quarrying market overview, forecast stone mining and quarrying market size and growth for the whole market, stone mining and quarrying market segments, and geographies, stone mining and quarrying market trends, stone mining and quarrying market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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