Mining in the US - Industry Market Research Report

Mining in the US - Industry Market Research Report

Mining in the US

Within the Mining sector, hydrocarbon-related activities are responsible for generating an overwhelming share of sector revenue. Accordingly, trends in these industries tend to dictate the performance of the entire sector. In recent years, domestic producers have begun adopting hydraulic fracturing and directional drilling techniques, which has enabled the US to become a world-class energy producer. The Mining sector benefited tremendously when the Energy Policy and Conservation Act was repealed in 2015, opening US oil producers to new global markets. However, sector demand was dragged down in 2020 because of the pandemic-induced global economic shutdown. Despite losses experienced in 2020, sector-wide revenue still grew at a CAGR of 3.9% to $944.1 billion over the past five years, including a 10.0% decline in 2023 as commodity prices begin to normalize. Sector profit has fallen in recent years because of increases in the price of oil and steel making it more expensive to purchase and operate heavy machinery.

Mining includes the extraction of minerals occurring naturally; solids, including coal and ores; liquids, like crude petroleum; and gases, like natural gas. Mining also includes quarrying, well operations, milling (e.g., crushing, screening, washing, flotation) and other preparation undertaken at the mine site or as a part of mining activity. The exploration and development of mineral properties are also included.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.