Nickel Mining Market was valued at USD 27.6 Billion in 2022 and is projected to reach USD 44.8 Billion by 2030, growing at a CAGR of 6.4% from 2024 to 2030.
The nickel mining industry has seen considerable growth from 2018 to 2022, driven by various market dynamics such as the rise in demand for electric vehicles (EVs) and advancements in battery technologies. In this period, the global nickel production saw steady increases to keep up with the growing need for nickel, which is crucial in lithium-ion batteries. A surge in the adoption of renewable energy sources also contributed to higher demand for nickel, as it is a key component in energy storage systems. As of 2022, global nickel production was approaching 2.7 million metric tons, with significant contributions from key producers such as Indonesia, the Philippines, and Russia. However, fluctuations in market prices and supply chain disruptions, especially in the wake of geopolitical tensions, affected the consistency of the nickel mining sector’s growth trajectory during this period.
Looking forward, the nickel mining market from 2023 to 2033 is expected to undergo significant changes, particularly with the accelerating demand for nickel driven by the expansion of the EV market and the continued shift towards renewable energy. The nickel market's demand from industries like automotive, energy storage, and stainless steel production is projected to grow, with experts predicting a shortage of supply by the late 2020s. It is estimated that demand for nickel could reach 3.6 million metric tons by 2030, far surpassing the production rates seen in 2022. With the growing emphasis on sustainable mining practices, the focus is shifting towards more environmentally friendly extraction methods. Additionally, emerging technologies, such as nickel-rich battery chemistries, are expected to further drive demand, making the market more complex and competitive over the next decade.
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Vale
MMC Norilsk Nickel
Glencore
Jinchuan
BHP Billiton
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Nickel Mining Market
Military Industry
Aerospace
Others
Based on Types the Market is categorized into Below types that held the largest Nickel Mining market share In 2023.
Pentlandite (Sulfide Ore)
Laterite-Nickel Ore
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Nickel Mining Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Nickel Mining Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Nickel Mining Market, By Type
6. Global Nickel Mining Market, By Application
7. Global Nickel Mining Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Nickel Mining Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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