Stone Mining & Quarrying Market: Introduction
- Stone mining and quarrying involves excavating and quarrying of minerals, whether inorganic or organic, which are naturally generated in gaseous, liquid, or solid state and dressing and other upgrading treatments of these minerals
Key Drivers and Restraints of Global Stone Mining & Quarrying Market
- Increase in the demand for precious stones, such as marble, granite, and limestone, in residential and commercial establishments for imparting an aesthetic look to buildings is expected to drive the global stone mining & quarrying market during the forecast period. Afghanistan, India, Italy, Turkey, Spain, and the U.K. are some of the major exporters of marble across the globe.
- Rise in the capital expenditure on infrastructure development led by migration of population toward urban areas, strong economic growth, and rapid urbanization in developing as well as developed countries are anticipated to propel the global stone mining & quarrying market during the forecast period
- However, high capital costs associated with the construction activity are projected to restrain the global stone mining & quarrying market during the forecast period
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Commercial Application Segment to Hold a Major Share of Global Market
- The global stone mining & quarrying market can be segmented based on stone, type, application, and region
- In terms of stone, the global stone mining & quarrying market can be divided into marble, granite, limestone, sandstone, and others. The marble segment is anticipated to expand at a significant pace during the forecast period, as marble is extensively used as a building material in monuments and sculptures for structural and decorative purposes. Furthermore, the sandstone segment is anticipated to witness significant growth from 2019 to 2027, owing to rise in the demand for aggregates used in the construction of building foundations, railroad beds, and highways.
- In terms of type, the global stone mining & quarrying market can be divided into dimension stone mining and crushed stone mining. The crushed stone mining segment is anticipated to witness significant growth in the near future, owing to rise in the demand for aggregates used in the construction of building foundations, railroad beds, and highways. Moreover, dimension stone mining is used for monuments, buildings, sculptures, paving.
North America Anticipated to Dominate Global Stone Mining & Quarrying Market
- In terms of region, the global stone mining & quarrying market can be divided into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
- The stone mining & quarrying market in North America is projected to witness significant growth during the forecast period. This can be ascribed to rise in the demand for renovation and refurbishment of aging infrastructure in the region. Furthermore, rise in investments in the construction of single- and multi-family buildings backed by increase in migration of population from rural toward urban areas is expected to fuel the market in the region in the near future.
- The stone mining & quarrying market in Asia Pacific is expected to expand at a rapid pace during the forecast period, owing to increase in the spending on development of infrastructure, such as rail and road networks, bridges, housing, and commercial and industrial establishments, primarily in developing as well as developed nations in the region, such as Japan, South Korea, India, and China. For instance, in 2018, the infrastructure sector in India witnessed venture capital and private equity investments worth US$ 1.97 Bn.
- The stone mining & quarrying market in Europe is estimated to witness significant growth during the forecast period, due to rise in construction activities in the region, which has augmented the demand for stones such as marble and granite. For instance, in September 2019, the European Investment Bank (EIB) announced to funding of US$ 7.84 Bn for projects in the fields of education, health, telecoms, sustainable transport, clean energy, and social housing.
- The stone mining & quarrying market in Middle East & Africa and Latin America is likely to expand at a moderate pace during the forecast period, owing to the increase in spending on the construction industry in these regions
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Key Players Operating in Global Market
Leading companies operating in the global stone mining & quarrying market are:
- Vulcan Materials Company
- ADELAIDE BRIGHTON LTD
- Cemex SAB de CV
- Martin Marietta Aggregates Inc.
- Oldcastle Materials
Global Stone Mining & Quarrying Market: Research Scope
Global Stone Mining & Quarrying Market, by Stone
Global Stone Mining & Quarrying Market, by Type
- Dimension Stone Mining
- Crushed Stone Mining
Global Stone Mining & Quarrying Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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
- 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.