Renewable Energy In Mining Industry Market: Overview

The mining industry traditionally relies on the conventional fossil based sources of energy such as diesel, oil and natural gas to fulfill the energy demand. The industry is now competing with the increased prices of the fuel which leads the operator to operate on less operating margins. The mining industry is expanding its wings into new remote locations to meet the emerging demand of the energy. Typically use of large diesel equipments on mining site resulting in a dependency on the diesel fuel. As maximum locations for mining are in remote areas making it difficult to provide grid connectivity, increasing its reliability on on-site generation.

The emerging demand for the energy and volatility in the market price of conventional fuel are the main drivers for the renewable energy in mining industry. Additional cost of setting equipments for generation from renewable sources and low capacity utilization factor are the major constraints for the industry. Allocation of new mines, innovative technologies used in locating resources and rising demand for resources bring new market opportunities for the new players to invest in the renewable energy in mining industry market.

Renewable Energy In Mining Industry Market: Segmentation

The renewable energy in mining industry market can be segmented on the basis of technology used for power generation on site. Majorly solar and wind technology can be used on mining sites to provide power. Solar power can be directly converted into electricity through photovoltaic cells and concentrated solar power technique. Today photovoltaic cells provide 0.1% of the total global electricity production. Photovoltaic is a commercially reliable and viable technology with a huge potential for the long term growth across all the world regions.

Photovoltaic technology is further segmented into crystalline silicone, thin film and concentrator technologies. Crystalline silicone technology contributes about 85-90% to the global market for solar. Crystalline silicone is further divided into multi-crystalline and single-crystalline. Thin film is further divided into amorphous & micromorph silicone, cooper-indium diselenide, cadmium telluride and copper indium gallium diselenide. Concentrator technology uses optical concentrator system which focuses solar radiation onto high efficiency solar cells. This technology is under development phase.

Large wind farms consist of hundreds of wind turbines connected to the power transmission network. The earth’s surface heats and cools unequally resulting in the creation of atmospheric pressure zones that make air to flow from high pressure zone to low pressure zone. This wind is used to rotate the turbines of the large wind mills for power generation. The amount of generation depends on the velocity of the wind where the wind farm is installed. Wind turbines are majorly classified into horizontal axis and vertical axis turbines. A horizontal axis turbine has its blade rotating on the axis parallel to the ground whereas vertical axis has its blade rotating on the axis perpendicular to the ground. The cut in speed for the wind turbines is in the range of 10-16 kmph and is defined as the minimum speed at which the blades will rotate and generate usable power.

Renewable Energy In Mining Industry Market: Region-wise Outlook

In the Asia Pacific region China and India are the major countries using above stated technologies for power generation. In the European region Germany, France and United Kingdom are the major users of the solar and wind technologies in power generation. In the North American region the United States and Canada are the major countries generating power from solar and wind.

Key players in providing renewable energy in mining industry market are Gamesha, E.ON, Vestas, Siemens, Iberdrola Renewables, General Electric, NextEra, Suntech Power Holdings Co., Ltd., First Solar and Hanwha SolarOne among others.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Renewable Energy Mining Industry Market

Pre Book