Base Metal Mining Market 2023 Supply-Demand, Production Cost and Share Analysis
Base Metal Mining Industry The global base metal mining market size is expected to reach USD 744.14 billion by 2030, expanding at 3.8% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. The growing production of electric vehicles (EVs) coupled with the rising investments in the renewables industry is expected to propel the demand for base metals over the forecast period. For instance, in April 2022, the German government passed a comprehensive energy reform package to boost energy generation from renewables. The government aims for an annual expansion of 22,000 MW of energy from solar and 10,000 MW from wind by 2030. This is expected to boost the consumption of base metals in batteries, cases, and wires over the forecast period. Base metals are commonly used in industry. They exclude iron-containing alloys and precious metals. Based on product, nickel is projected to register the highest CAGR of 6.1%, in terms of revenue, over the...