Surface Mining Market Size

Global Surface Mining Market size was valued at USD 648.2 billion in 2023 and is poised to grow from USD 689.04 billion in 2024 to USD 1123.33 billion by 2032, growing at a CAGR of 6.3% during the forecast period (2025-2032). 

Surface mining refers to a process in which overlying soil and rock are removed to uncover minerals and metals. This type of mining includes strip mining and open-pit mining, which are largely used worldwide. Growing demand for minerals and metals from different industry verticals is projected to bolster the demand for surface mining across the forecast period and beyond. Adoption of surface mining can also be attributed to its low costs. Rapidly expanding semiconductor and consumer electronics industries are also boosting the demand for novel minerals and metals going forward. Growing availability of advanced mining equipment and machinery is also estimated to benefit market development over the coming years. However, environmental impact of mining and logistical challenges is estimated to slow down surface mining demand outlook in the future.